- QMines (QML) intersects high-grade copper mineralisation at the Mt Chalmers project in Queensland
- The company recently completed a 12-hole reverse circulation (RC) drilling program at the project with results received for the first three holes
- These holes form part of the first stage 10,000-metre drilling program designed to upgrade and step out the current resource and test the Tracker 3 soil anomaly
- Grades have so far peaked at 4.7 per cent copper equivalent with results for the remaining nine holes expected to be reported on shortly
- QMines ends the day in the grey with shares trading at 23 cents
QMines (QML) has intersected high-grade copper mineralisation at the Mt Chalmers project in Queensland.
The company recently completed a 12-hole reverse circulation (RC) drilling program at the project with results received for the first three holes.
These 12 holes form part of the first stage of a 10,000-metre RC drilling program designed to upgrade and step out the current resource as well as test the Tracker 3 soil anomaly.
Drilling to date has already identified wider mineralisation than expected and provided evidence of stacked mineralised zones.
Once the program wraps up it will hope to improve QMines’ understanding of the geological controls on the mineralisation.
Results include eight metres at 4.7 per cent copper equivalent from 119 metres within 21 metres at 2.6 per cent copper equivalent from 113 metres, and 16 metres at 1.1 per cent copper equivalent from 132 metres including two metres at 4.3 per cent copper equivalent from 179 metres.
Results for the remaining nine holes are expected to be reported on shortly.
“It is great to see the Mt Chalmers mine continue to deliver shallow, thick and high-grade drilling results. Further step-out drilling is continuing at Mt Chalmers where the deposit remains open in a number of directions,” Executive Chairman Andrew Sparke said.
“The RC rig and our drilling team are performing exceptionally well with significantly more meters being reported on a more regular basis.”
QMines has ended the day in the grey with shares trading at 23 cents.