- QMines (QML) posted the final four assay results from its diamond drill program at its flagship Mt Chalmers Copper Project in Queensland
- The company says the holes returned high-grade and bonanza grade copper, gold, silver, zinc and lead results
- This includes grades of 16.8 per cent zinc, 8.3 per cent lead, 41 grams per tonne silver as well as 9.31 grams per tonne gold and 5.21 per cent copper
- QML is now carrying out a 30-hole drill program at Mt Chalmers, with the first six holes completed and results to be released shortly
- Company shares are trading down 10.7 per cent at 37.5 cents each
QMines (QML) posted the final four assay results from its diamond drill program at its flagship Mt Chalmers Copper Project near Rockhampton, Queensland.
The company reported on Monday that the holes returned high-grade and bonanza grade copper, gold, silver, zinc and lead results.
This includes best grades of up to 16.8 per cent zinc, 8.3 per cent lead, 41 grams per tonne silver, 9.31 grams per tonne gold and 5.21 per cent copper across three separate holes.
QML carried out a total of 11 diamond drill holes for 1587 metres at Mt Chalmers, with the program designed to validate the historical data compiled to date.
Commenting on the latest results, QMines Chairman Andrew Sparke said they were extremely encouraging.
“Final assays from the maiden diamond drilling program have returned some outstanding copper, gold and polymetallic results,” Mr Spark said.
“The current resource model has not factored in zinc and lead so we will now work towards updating the resource model to factor in these results.”
QML has begun another 30-hole reverse circulation drill program at Mt Chalmers, with six holes completed so far.
This program will also validate the historical data and provide infill results which will be used to expand the current resource at the project.
QMines were trading down 10.7 per cent at 37.5 cents each at 1:17 pm AEST.