- QMines (QML) announces “outstanding” high-grade results from the Woods Shaft Exploration Target in Queensland
- In September, 15 RC holes were drilled at QML’s flagship Mt Chalmers Copper and Gold Project to confirm previous drilling and deliver a maiden JORC mineral resource for Wood Shaft in Q1 2023
- Results have been received for 11 holes with up to 8.26 per cent copper equivalent intersected
- QMines also enters a trading halt pending a capital raising which will be in the form of a placement
- Shares in QMines last traded at 16.5 cents on October 24
QMines (QML) has received “outstanding” high-grade results from the Woods Shaft Exploration Target in Queensland.
In September, the company drilled 15 reverse circulation (RC) holes at its flagship Mt Chalmers copper and gold project to confirm previous drilling and deliver a maiden JORC mineral resource for Wood Shaft in Q1 2023.
Results have been received from eight of the 11 holes drilled at Woods Shaft and three of the four holes drilled at Mt Chalmers.
Significant results include 37 metres at 3.6 per cent copper equivalent from four metres including four metres at 8.26 per cent copper equivalent from 30 metres.
Results for the remaining four holes are at the ALS Laboratory and are expected in the coming weeks.
“We are extremely pleased with these recent results which demonstrate the quality of the Mt Chalmers project and its development potential,” Executive Chair Andrew Sparke said.
“The company has already delivered two resources since listing in May 2022 and has a further two planned in the coming months.”
QMines has also entered a trading halt pending a capital raising which will be in the form of a placement.
The company will remain in the halt until Thursday, October 27, or when further details are released.
Shares in QMines last traded at 16.5 cents on October 24.