QMines (ASX:QML) has announced further wide high-grade intersections of up to 17.3% copper equivalentat its flagship Mt Chalmers copper and gold project in Queensland.
Highlights:
- Significant intersections featuring 37m at 2.9% copper equivalent from 118m, including 4m at 17.3% copper equivalent from 145m.
- Downhole EM survey complete with further priority targets identified.
- Drilling continues at Mt Chalmers with further results expected shortly.
- Recent results bode well for the third resource upgrade expected in H2 2022.
Further high-grade copper equivalent (CuEq) results were received from the ten most recent RC drill holes (MCRC021- MCRC030) reported from the June – July drilling programme. Peak grades of 17.28% CuEq (MCRC029) and 7.25% CuEq (MCRC023) were returned.
“We are very pleased with recent drilling results. They show that Mt Chamers is continuing to grow in scale,” Executive Chairman, Andrew Sparke, said.
“The RC rig is now moving to the southern end of the Mt Chalmers deposit to test for further extensions. These continued high-grade, shallow and wide intersections bode well for the Company’s third resource upgrade expected in 2H-2022.”
RC drilling operations continue at Mt Chalmers with the Company completing a further two RC holes for 450 metres since returning to site. Multiple drill pads have also been prepared at the southern end of the Mt Chalmers West Pit in preparation for resource extension drilling to the south.
RC holes MCRC021 – MCRC027 were drilled along the western side of both the Main Pit and the West Pit and have closed off the mineralisation on this side of the project. Holes MCRC028 – MCRC032 were drilled to the north of the Main Pit where mineralisation remains open.
Results for holes MCRC021 – MCRC030 have been received and have returned high-grade results over broad intervals including 37m @ 2.9% CuEq in MCRC029 and 25m @ 1.65% CuEq in MCRC023. The Mt Chalmers drilling programme will continue throughout 2022 with results expected to be announced on a regular basis throughout the remainder of the year.
The company has completed 10,581 meters of drilling (4,679 meters of RC and 5,902 meters of diamond) to date at Mt Chalmers.
The increased drill density, together with deeper drilling, is delivering a more detailed geological and structural interpretation for the Mt Chalmers project. The company is drilling grouped holes from various prepared drill pads due to terrain and access.
For further information please visit: https://qmines.com.au/
