QMines Ltd (ASX:QML) has extended the copper-rich mineralisation at the Mt Chalmers Southwest discovery in central Queensland with the latest results from drilling offering resource estimate and exploration upside.
QML completed 14 holes for 1,700 metres of drilling, hitting up to 67 metres at 2.31% copper equivalent from 45 metres of depth with smaller intersections of higher-grade mineralisation.
Faulted extension of West Lode
“The company has completed the initial southwest drilling program, at what appears to be a faulted extension of the West Lode,” QMines managing director Andrew Sparke said.
“Drilling has extended the Volcanic Hosted Massive Sulphide (VHMS) mineralisation which will be added into the Mt Chalmers resource model in due course.
“The company will now continue exploration drilling at the new Artillery Road discovery before commencing exploration at multiple new electromagnetic targets generated earlier this year.”
Notable intersections from this latest round of West Lode results include:
- 67 metres at 2.31% copper equivalent from 45 metres, including 9 metres at 5.2% within 36 metres at 3.81% from 45 metres;
- 31 metres at 0.96% copper equivalent from 79 metres, including 5 metres at 3.9% from 79 metres;
- 16 metres at 0.93% copper equivalent from 104 metres, including 7 metres at 1.59% from 105 metres; and
- 22 metres at 0.77% copper equivalent from 92 metres, including 5 metres at 1.1% from 100 metres.
QMines expects to produce an update for the new Artillery Road discovery shortly, where drilling continues.
The company also intends to complete access agreements and prepare for drilling at the Tracker 1 and VT04 targets, while continuing ground reconnaissance and drill hole planning of the highest-ranked of the 34 electromagnetic targets QML has already identified.
Finally, QMines plans to analyse and integrate some recent VTEM inversion results and complete a pre-feasibility study (PFS) on the Mt Chalmers Copper-Gold Project, assessing the tenure as a standalone mining operation.