Recently completed drilling at QMines’ (ASX: QML) Mt Chalmers copper-gold project in Queensland has paved the way for a maiden resource at the Woods Shaft exploration target.
The junior explorer today confirmed 11 reverse circulation (RC) holes for 905 metres have been drilled at Woods Shaft, and all samples have been delivered to the ALS laboratory in Brisbane with assay results expected shortly.
RC and diamond drilling results from other areas of the Mt Chalmers project are being included in a third resource upgrade scheduled for November.
A fourth upgrade, which will include a maiden resource for Woods Shaft, is now anticipated in the first quarter of 2023.
QMines executive chairman Andrew Sparke said the company’s “excellent progress” including validation drilling at Woods Shaft has enabled the delivery of its maiden resource.
“There were some fairly significant historical drill holes from this area and the completion of this drilling will enable the delivery of a fourth resource upgrade early in the new year,” he said.
Pit optimisation is due to begin on the completion of the two resources with a scoping study to commence early next year, QMines confirmed.
Woods Shaft prospect
Woods Shaft lies about 700m to the southwest of the Mt Chalmers deposit and has been defined by historical drilling.
The deposit currently has a strike length of more than 250m and is up to 40m wide.
Mineralisation extends from surface to a depth of 90m in places and contains gold and base metal mineralisation. Its geology appears to be similar to the Mt Chalmers deposit.
Upcoming resource upgrades
QMines delivered its second mineral resource estimate for the Mt Chalmers project last December, confirming 5.8 million tonnes at 1.7% copper equivalent for 101,000 tonnes of contained copper equivalent.
The company has since completed more than 14,000m of drilling and undertaken initial preliminary metallurgical test work and detailed geological modelling in preparation for a third resource estimate scheduled for next month.
Wide and high-grade copper, as well as gold and silver, has been intercepted in multiple drill holes.
QMines is also planning an airborne electromagnetic survey over the Mt Chalmers project to improve drill targeting for future regional drilling campaigns.
