QMines Ltd (ASX:QML) has started a reverse circulation (RC) drilling campaign at Mt Chalmers copper and gold project near Rockhampton in central Queensland in a bid to increase the copper-equivalent resource of 144,700 tonnes.
This campaign of an initial 10 holes for about 2,000 metres will firstly focus on extending the Mt Chalmers resource to the west of the high-grade West Pit, where it remains open.
It will utilise the company-owned RC drill rig, which will result in considerable cost savings.
Back on the ground
QMines managing director Andrew Sparke said, “After a busy 2022 drilling season, where the company completed multiple resource updates, it is great to be back on the ground and drilling again.
“With preparations to test multiple electromagnetic targets well advanced, the team is planning for a busy field season.
"Knowing that VHMS deposits cluster, we believe there is strong potential for multiple repeats of the Mt Chalmers deposit.”
About Mt Chalmers
The flagship Mt Chalmers project is just 17 kilometres northeast of Rockhampton and was a high-grade historic mine that produced 1.2 million tonnes at 2.0% copper, 3.6 g/t gold and 19 g/t silver between 1898 and 1982.
It now has a JORC 2012-compliant measured, indicated and inferred resource of 11.86 million tonnes at 1.22% copper equivalent for 144,700 tonnes.
Next steps
The company’s near-term plans for Mt Chalmers include:
- Final metallurgical test-work results for the Mt Chalmers deposit;
- Delivery of the results of a recent carbon audit to meet the requirements of the Climate Active program and retain its Zero Carbon certification;
- Complete the planned pre-feasibility study on the Mt Chalmers project assessing the potential for a standalone mining operation;
- Induced Polarisation inversion of the recent VTEM™ Max airborne electromagnetic data to generate additional drilling targets; and
- Commence drilling prospective regional electromagnetic targets.