QMines Ltd (ASX:QML) has identified several metal sulphide ore deposits through the acquisition of two historical airborne geophysical surveys at its flagship Mt Chalmers Copper-Gold Project near Rockhampton, Queensland, which it describes as “exciting new targets”.
As a result, UTS Geophysics Pty Ltd has been contracted to fly a helicopter-borne VTEM™ and magnetic geophysical survey to locate and improve drill targeting at the large copper and zinc soil anomalies within the tenements in January.
Results from the survey are expected early in the new year with follow-up drilling of priority targets to begin shortly thereafter.
Well-respected consultant Mitre Geophysics Pty Ltd, which was recently retained to reinterpret the raw data, has been engaged to oversee the new survey and to model the data.
Planned VTEM™ flight paths in yellow and historic EM survey recently acquired in black.
District-scale opportunity
QMines executive chairman Andrew Sparke said: “Preliminary analysis of the historic electromagnetic data is very encouraging. The data confirms a number of existing soil anomalies whilst also highlighting further exciting targets in several new areas.
“The new data demonstrates the upside potential of the Mt Chalmers project and confirms our belief that Mt Chalmers is a district-scale opportunity.”
Survey area
The proposed survey area extends to the extremities of QMines’ exploration permits and measures some 29 kilometres long by 8 kilometres wide.
The Mt Chalmers deposit is a well-preserved VHMS system. Its mineralised system contains copper, gold, zinc, lead and silver and is situated in the early Permian Berserker Beds, which occur in the fault-bounded Berserker Graben, a structure 120 kilometres long and up to 15 kilometres wide.
QMines’ recent compilation of historical geological and geochemical data and subsequent analysis has identified the most prospective parts of this graben.
The datasets were collected by Echo Resources in 2007 from the Mt Chalmers area and the Tracker 2 soil geochemical target.
Helicopter towing the VTEM transmitter coil (photo courtesy UTS Geophysics).
What’s next?
QMines will continue with its planned 30,000-metre reverse circulation and diamond drilling programs at Mt Chalmers.
As well, a further surface exploration and mapping at Tracker 3, one of four large copper and zinc soil anomalies located in the region, will be conducted.
QMines plans to deliver a third mineral resource estimate (MRE) for its flagship Mt Chalmers Project in the fourth quarter, and a fourth MRE for Woods Shaft in the first quarter of next year.
Queensland-based QMines owns 100% of four advanced projects covering a total area of 1,096 square kilometres. Mt Chalmers is 17 kilometres northeast of Rockhampton.
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 1898-1982, Mt Chalmers has a JORC 2012 measured, indicated and inferred resource of 5.8 million tonnes at 1.7% copper equivalent for 101,000 tonnes copper equivalent.