Queensland-based explorer QMines (ASX: QML) has provided an update on its exploration and resource drilling activities at its flagship Mt Chalmers copper and gold project, located 17km northeast of Rockhampton.
At the end of November 2022, the company finished a six-hole, 1,190m reverse circulation drilling program.
Following the delivery of the third and fourth mineral resource estimate in November, this most recent round of drilling aimed to test the deposit’s farther-reaches.
The drilling program produced positive results, extending the mineralisation to the north-west and producing several intersections with copper equivalent grades as high as 3.03% copper equivalent over 12m.
This discovery confirms the system is larger than previously believed by extending the mineralisation towards the north-west.
North and South extensions
Nearby holes MCRC052 and MCRC053 were successful in closing off the north-west resource. Drill hole MCRC054 intersected 0.32% copper equivalent over 10m from 44m and 0.31% copper equivalent over 8m from 91m to the south.
The MCRC055 drillhole encountered 0.75% copper equivalent over 14 m from 83m and 0.85% copper equivalent over 3m from 47m. The predominance of sphalerite (zinc) in these two drillholes reflects the distal extension of the system.
QMines managing director Andrew Sparke said the intersection of further mineralisation in the more distal parts of the resource shows the system to be larger than previously thought.
“Results from the recently completed airborne EM survey are eagerly awaited and expected shortly,” he added.
“The ongoing campaign to identify resource extensions is continuing, along with drilling of satellite targets and our large geochemical and new geophysical anomalies. With no shortage of quality drilling targets, we look forward to a prosperous year ahead for our shareholders.”
VTEM survey completed
The VTEM Max airborne electromagnetic (EM) geophysical survey by QMines has been completed, with a planned flight distance of 1,814km.
QMines’ geophysical consultant is currently analysing the data, with preliminary results expected later this month.
The recently completed VTEM Max survey will be used to identify resource extensions, as well as drilling of satellite targets and large geochemical and new geophysical anomalies.
