QMines fast-tracks exploration to grow Mt Chalmers copper-gold resource
QMines revealed bonanza grades up to 13.4% copper, 6.11g/t gold and 31g/t silver from its maiden campaign at Mt Chalmers.
Recently listed explorer QMines Limited (ASX: QML) is accelerating the planned exploration program of its flagship Mt Chalmers copper-gold project in Queensland, targeting further resource growth.
The company today announced it has acquired a reverse circulation (RC) drill rig, booster and auxiliary compressor truck, rod truck and support vehicles, which have now arrived on site, about 17km northeast of Rockhampton.
Mt Chalmers is a high-grade historic mine that produced 1.24 million tonnes of ore grading at 2% copper, 3.6 grams per tonne of gold and 19g/t silver over its 80-plus years of operation until 1982.
In December QMines posted its second upgrade to the project’s mineral resource estimate, up 38% to 5.8Mt at 1.7% copper equivalent for 101,000t copper equivalent with 78% of the resource falling in the measured and indicated categories.
Following a successful 2021 drilling campaign, the company will now fast-track its plans to explore several priority targets, aiming to achieve a third resource upgrade in the first half of 2022.
In today’s update, QMines said RC drilling operations will begin this month with site works and rig preparation currently being undertaken.
Additional diamond drilling has been scheduled for the Mt Chalmers mine area with the diamond drill rig expected to arrive on-site shortly.
Upcoming drilling at Woods Shaft
QMine’s resource growth strategy involves four priority targets: Woods Shaft, Mt Chalmers mine, Tracker 3 and Mt Chalmers North. In mid-January, the company finalised an access and compensation agreement with the landholder of the Woods Shaft area to enable drilling operations.
Located 700m southwest of the Mt Chalmers deposit, an exploration target has been estimated for the Woods Shaft prospect measuring about 350m in strike length and 200m width. The current mineralised envelope extends from surface to a depth of 90m in places and contains gold and base metals mineralisation.
Significant historic intersection at Woods Shaft include: 54m at 1.4g/t gold, 0.48% copper and 4g/t silver; 49m at 1.1g/t gold including 6m at 4.3g/t gold; 21m at 1.7g/t gold, 0.42% copper and 5g/t silver; and 9m at 2.2g/t gold, 0.2% copper and 3g/t silver.
Third resource upgrade planned
QMines is aiming to deliver a third resource upgrade in this first half of 2022.
Its exploration program includes a planned 30,000m drilling program, downhole electromagnetic (EM) surveys on several holes already drilled, expanded soil sampling to gain geochemical data for future drill targeting, and a planned 1,800 line km heli-EM survey.
Operations base upgrades
In line with its aspirations to become Australia’s first ‘zero carbon’ copper and gold developer, QMines has also upgraded its base for operations at Mt Chalmers.
The new workshops will include a 70,000-litre renewable fuel storage facility, a 10,000L rainwater system and a 10-kilowatt solar power system.
The company said it aims to operate an 80:20 renewable fuel blend to reduce carbon emissions from drilling by an initial 20%.