QMines (ASX:QML) has uncovered a new copper discovery extending 180m beyond the resource zone at the Mt Chalmers Project in Queensland, signifying ‘significant’ resource growth potential.
In the ongoing drilling campaign, hole 26MCDD052 intersected 11m of visually identified copper sulphides, which includes semi-massive chalcopyrite-pyrite mineralisation.
QMines says the discovery has opened an “exciting new exploration target” beyond the existing resource as mineralised intercepts exhibit consistency with the copper-gold system at Mt Chalmers.
The company intends to conduct follow-up drilling to test whether this zone represents an extension to the Mt Chalmers main lode, a separate mineralised zone that trends north-northeast, or whether mineralisation is associated with Botos.
If mineralisation is associated with Botos, QMines says the discovery will open up a ‘significant’ new exploration target.
This discovery is also set to support further exploration of the interpreted Woods Shaft-Mt Chalmers-Botos corridor at the project, which is emerging to showcase a 4km copper-gold corridor that remains semi-untested.
Exploration Manager Tom Bartschi says the discovery hosts geological similarities and position that increase chances of Mt Chalmers and Botos forming a larger, connected mineralised system.
“Our focus to date has been on advancing Mt Chalmers towards production, with the Definitive Feasibility Study now well underway,” Bartschi states.
“With recent strategic land acquisitions, we are now in a position to accelerate exploration across the broader mineralised corridor. Remarkably, 26MCDD052 is only the second hole to test this highly prospective area north of the main pit.
“This discovery reinforces our belief that significant exploration potential remains at Mt Chalmers.”
QMines is already conducting follow-up drilling at this discovery, which intends to establish the extent and continuity of mineralisation. Assays are expected to be returned later this month.
“While the connection between Mt Chalmers and Botos remains to be demonstrated, we are excited by the opportunity to potentially grow the resource well beyond its current boundaries,” Bartschi adds.
QMines is a copper and gold developer focused on creating a multi-project copper and gold production hub in Central Queensland, spearheaded by its Mt Chalmers Project.
Write to Maddison Elliott at Mining.com.au
Main Image: QMines
