QMines Ltd (ASX:QML) is forging ahead with a maiden resource drilling program at the Develin Creek Project west of its flagship Mt Chalmers Project in central Queensland that is already pointing to mineralisation and a likely resource upgrade.
Confidence in resource upgrade
The Queensland-based copper and gold exploration company has completed several of its planned reverse circulation (RC) drill holes, targeting the Scorpion and Window copper deposits.
All holes to date have intersected mineralisation at expected locations, strengthening the company's confidence in the potential for a resource upgrade.
Samples from the initial drill holes have been sent to ALS laboratory in Brisbane for assay, with results expected in the coming weeks.
The Develin Creek Project contains two high-grade copper resources at Sulphide City and Scorpion. These deposits contain combined resources of 3.2 million tonnes at 1.05% copper, 1.22% zinc, 0.17 g/t gold and 5.9 g/t silver.
Increasing scale and profitability
The company has rights to a 100% interest in two advanced projects, Mt Chalmers and Develin Creek, covering a total area of 603.7 square kilometres.
Its aim is to incorporate the Develin Creek deposits into the Mt Chalmers mine plan to increase the scale and profitability of the project.
Both projects are within 90 kilometres of Rockhampton in Queensland. Mt Chalmers has a resource of 11.3 million tonnes at 0.75% copper, 0.42 g/t gold, 0.23% zinc, 4.8 g/t silver and 4.28% sulphur with 91% of the resource now in the measured and indicated categories.
The company recently wrapped up a pre-feasibility study at Mt Chalmers deposit which augurs well for a long-life, high-margin and low-cost mining operation.
QMines’ ongoing 4,000-metre RC drilling program is designed to improve resource confidence at the Develin Creek Project, with the goal of incorporating these deposits into the Mt Chalmers mine plan.
Develin Creek, which includes several volcanic-hosted massive sulphide (VHMS) copper-zinc deposits, holds substantial promise and this integration is expected to extend the mine’s life and enhance its profitability with the inclusion of Develin Creek's higher-grade material.
QMines chair Andrew Sparke said: "QMines is now focusing on drilling at Develin Creek to increase the potential scale and mine life of the Mount Chalmers project.
“Develin Creek hosts two high-grade copper deposits at Scorpion and Sulphide City which fall outside of the current Mt Chalmers mine plan.
“These deposits provide potential to increase the scale of a potential mining operation at the nearby Mt Chalmers project.”