QMines mobilises drill rig for Develin Creek project expansion
Junior explorer QMines (ASX: QML) has mobilised a drill rig to the site in preparation for exploration at its Develin Creek project in Queensland.
Phase 1 of the campaign will focus on in-fill resource definition drilling at the Sulphide City and Scorpion deposits.
Together with Develin Creek, Sulphide City and Scorpion contain a total of 3.2 million tonnes grading 1.05% copper, 1.22% zinc, 0.17 grams per tonne gold and 5.9g/t silver.
Upside potential
The three deposits are not currently in the mine plan for the nearby Mt Chalmers copper-gold development but are believed to demonstrate significant upside potential to the flagship project’s recent pre-feasibility study that outlined a long-life, high-margin, low-cost operation.
Drilling aims to convert the largely inferred resource to the indicated and measured categories.
It will also meet QMines’ contractual obligations with respect to the acquisition of the remaining 49% interest in Develin Creek from Zenith Minerals (ASX: ZNC).
Growing scale
QMines chair Andrew Sparke said the company was keen to get drilling underway.
“We are eager to commence our planned growth activities at Develin Creek, which will focus on growing its scale,” he said.
“Develin Creek hosts two high-grade deposits at Scorpion and Sulphide City, which fall outside of the current mine plan, and they provide potential for us to increase the scale of a potential mining operation at Mt Chalmers.”
Develin Creek geology
The Develin Creek project consists of several volcanic-hosted massive sulphide copper-zinc deposits within the Rookwood Volcanics near Rockhampton.
Mineralisation at Scorpion, Window and Sulphide City was discovered by Queensland Metals Corporation in the early 1990s and initially drilled to 50-metre spacings.
Subsequent owners Fitzroy Resources and Zenith Minerals completed verification drilling programs along with regional exploration programs.
QMines secured a $4.5 million deal to acquire Develin Creek from Zenith in August 2023, starting with an initial 51% stake and a right to earn the remaining 49% interest before the end of this month.
Develin Creek is located 90 kilometres west of the Mt Chalmers project.