QMines hits broad 'high grade' copper, gold and zinc at Mt Chalmers

QMines (ASX: QML) has announced broad zones of ‘high-grade’ copper and gold mineralisation following recent drilling at its flagship Mt Chalmers Project north-east of Rockhampton in Queensland.

The results, generated from an eight-hole diamond plus ~10,000 metre RC drilling campaign has reported peak values of 8.5% Cu, 5.45g/t Au, 105g/t Ag, 9.08% Zn and 4.0% Pb, with key results including:

66.5m @ 0.86% Cu, 0.51g/t Au, 5.9g/t Ag and 0.45% Zn from 39.5m; including
- 21.2m @ 2.14% Cu, 0.7g/t Au, 5.9g/t Ag and 0.6% Zn from 73m; including
  - 8m @ 4.08% Cu, 1.34g/t Au, 6.8g/t Ag and 0.5% Zn from 73m
27.9m @ 1.36% Cu, 0.64g/t Au, 14.9g/t Ag and 0.2% Zn from 14.1m; including
- 3.6m @ 5.3% Cu, 1.83g/t Au, 59g/t Ag and 0.54% Zn from 14.1m;
19.1m @ 1.23% Cu, 0.39g/t Au, 11g/t Ag and 0.79% Zn from 68.9m
17.6m @ 0.93% Cu, 0.24g/t Au, 9.8g/t Ag and 0.4% Zn from 13m
6m @ 1.09% Cu, 2.01g/t Au, 35g/t Ag, 0.48% Pb and 0.93% Zn from 52m

Addressing the results, QMines Executive Chairman, Andrew Sparke said: “We are very pleased with these results as they demonstrate the growing scale of the Mt Chalmers deposit. It is great to see the Company’s RC rig now fully operational which is expected to deliver a step change in the number of meters drilled, results released and therefore the speed at which the Company can grow the Mt Chalmers resource.

It is great to see the Company’s RC rig now fully operational which is expected to deliver a step change in the number of meters drilled

This purchase will provide our shareholders with significant leverage to a growing resource and exploration success and bodes well for the Company’s third resource upgrade.”

The company notes that these results demonstrate the growth potential that is present at Mt Chalmers and provides further support for its anticipated third Mineral Resource upgrade.

Mt Chalmers diamond, RC and RC pre-collar drill hole collar locations (December to March 2022)

The Mt Chalmers project is located approximately 17km northeast of Rockhampton in Central Queensland, and comprises a total land area of 316km² with 100% of all tenements being owned by QMines.

The Project hosts a JORC 2012 compliant Measured, Indicated and Inferred Resource of 101,000t contained copper equivalent @ 1.7% Cu Eq.

With the current drilling campaigns at Mt Chalmers ongoing, QMines notes that it will move forward with additional drilling at the Wood Shaft Prospect, the first of three targets.