QMines Ltd (ASX:QML) continues to deliver wide mineralisation with high copper-gold grades from resource drilling at the flagship Mt Chalmers Copper-Gold Project, 17 kilometres northeast of Rockhampton in Queensland.
A further 24 reverse circulation (RC) drill holes have now been completed at Mt Chalmers for 4,022 metres.
Drilling continues to deliver visible sulphide mineralisation, including chalcopyrite and sphalerite, with mineralised intersections varying in length and concentration of sulphides.
Some of the highlights from 15 of the 24 holes drilled include:
- 22 metres at 1.6% copper-equivalent from 109 metres including 2 metres at 4.98% copper-equivalent from 122 metres;
- 30 metres at 1.47% copper-equivalent from 108 metres including 6 metres at 2.89% copper-equivalent from 108 metres and 4 metres at 2.38% copper-equivalent from 132 metres;
- 34 metres at 1.41% copper-equivalent from 124 metres including 9 metres at 3.97% copper-equivalent from 124 metres; and
- 22 metres at 1.12% copper-equivalent from 160 metres.
Completed assayed RC drill hole collar locations from August-September drilling.
Mineral resource focus
The current program, which started in August 2022, is part of a 40-hole drill campaign aimed at increasing Mt Chalmers’ mineral resource estimate (MRE). About 14,000 metres of RC and diamond drilling have been completed to date.
RC drilling operations are expected to cease on October 5 in order to publish the third MRE in November. Drilling will restart thereafter and continue into December, subject to the onset of the Queensland wet season.
Independent resource consultants Hyland Geological and Mining Services (HGMC) will carry out the third MRE utilising all new drill hole data, and more significantly, the recently completed Mt Chalmers geological model.
Reaping benefits of RC rig
QMines executive chairman Andrew Sparke said: “We have made excellent progress across several areas at Mt Chalmers with RC drilling continuing to intersect broad and consistent zones of mineralisation with numerous drill holes outside the current resource model.
"All new drill holes will be included in the next mineral resource estimate which is scheduled for delivery in November 2022.
“The company has now delivered over 14,000 metres of RC and diamond drilling at Mt Chalmers and we are now seeing the benefits of the investment in an RC drill rig which has significantly reduced costs and improved efficiencies.”
Geology modelling
The latest outcome from the geology modelling shows that mineralisation has extended outwards in all directions, with the massive sulphide/exhalate horizon more widespread than previously understood.
Drilling is ongoing to expand the model.