QMines Ltd (ASX:QML) has intersected high-grade copper-rich base metals mineralisation during reverse circulation (RC) drilling at the flagship Mt Chalmers Copper and Gold Project in Queensland.
Standout assays include:
- 12 metres at 4.38% copper equivalent from 49 metres, including 2 metres at 9.69% from 52 metres;
- 4 metres at 3.34% copper equivalent from 46 metres;
- 3 metres at 3.46% copper equivalent from 27 metres;
- 6 metres at 1.66% copper equivalent from 54 metres, including 1-metre at 7.11% from 59 metres; and
- 24 metres at 0.84% copper equivalent from 103 metres, including 1-metre at 5.77% from 59 metres.
Subsequently, encouraging visual estimates of base metal sulphides have now been confirmed by laboratory results, with drill holes intersecting a new volcanic-hosted massive sulphide (VHMS) mineralised body, now named Mt Chalmers Southwest.
In a bid to further enhance its central Queensland base metals position, QMines will kick off drilling at the Artillery Road electromagnetic prospect shortly.
Define new resource
QMines managing director Andrew Sparke said: “We are very pleased to have located what appears to be a faulted extension of the West Lode.
“Further drilling is in progress which aims to define a new resource which will be added to the existing resource at Mt Chalmers in due course.”
Forward plan
The next steps at Mt Chalmers include:
- complete drilling of the southwest extension of the Mt Chalmers deposit;
- commence drilling at the Artillery Road copper-zinc prospect and other priority electromagnetic (EM) targets;
- continue ground reconnaissance, mapping and ranking of the 34 EM anomalies;
- analyse and integrate the VTEM™ Inversion results; and
- complete the planned pre-feasibility study on the Mt Chalmers project assessing the potential for a stand-alone mining operation.