QMines intersects high-grade copper equivalent zones at Mt Chalmers project

QMines ASX QML intersects high-grade copper equivalent zones Mt Chalmers project
QMines executive chairman Andrew Sparke said assays were “expected shortly” after a further eight holes have been submitted for analysis.

Junior explorer QMines (ASX: QML) has intersected high-grade copper equivalent (CuEq) results in the most recent drill holes of an ongoing campaign at the historic Mt Chalmers project in Queensland.

Nine holes returned multiple wide and strong results including up to 5.1% CuEq.

Significant intersections were 69m at 2% CuEq from 137m, including 16m at 5.1% from 137m and 4m at 3.9% CuEq from 163m; 14m at 3% CuEq from 64m; 15m at 2.1% CuEq from 25m; and 40m at 1.2% CuEq from 76m, including 9m at 4.1% CuEq from 107m.

QMines executive chairman Andrew Sparke said the latest assays follow a trend of shallow, thick and high-grade results from Mt Chalmers.

“Our team is performing exceptionally well with significantly more metres being delivered on a more regular basis,” he said.

“Further step-out drilling is continuing where the deposit remains open in a number of directions.”

Additional holes

QMines has completed an additional eight holes for 1,015m at the project, representing a continuation of the planned 30,000m reverse circulation program comprising a total 50 holes.

It aims to expand and upgrade the Mt Chalmers resource by infilling areas of lower confidence.

Mineralised intersections in some holes are broader than expected based on historical drilling and stacked mineralisation horizons have also been noted.

New mineralisation

Mr Sparke said the company hoped drilling would identify new mineralisation and provide a greater understanding of the deposit’s geological controls.

“Our recent drilling has assisted in identifying a second mineralised horizon which was not previously recognised,” he said.

“This horizon is present below the current resource wireframes and has been observed in multiple holes.”

All drill holes are being sampled at 1m intervals and submitted to ALS Laboratories in Brisbane for assay.

Historical drilling

Historical drilling is largely constrained in and around the existing Mt Chalmers mine.

Data shows that the western lode may have been transported downslope from the source and areas of low relief during seafloor sulphide deposition may be potential zones for transported high grade mineralisation.

Mr Sparke said the theory is largely untested at Mt Chalmers but is being tested by the current drilling program.

A study of potential fault displacements and their effect on metal zoning is currently underway.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.