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QMines copper floats to the top

30 March 2022 14:53
ASX: QML

QMines test work has delivered 97 per cent copper and 87 per cent gold recovery, plus massive sulphides containing high percentages of Cu and zinc from the Mt Chalmers copper-gold-zinc project near Rockhampton in central Queensland.

As copper trades at an all-time high of above US$5 per pound, the rates align with the company’s almost 40pc Cu equivalent increase in December – bringing the estimated resource beyond 100,000 tonnes.

The result reaffirms the regional scalability of Mt Chalmers, possessing the verified copper resource along with a banquet of razor-sharp upside potential identified at the high priority targets.

The company said the flotation test was actually quite simple and amusingly performed with Perth tap water.

“Such excellent results from this initial study demonstrate the project’s development potential,” executive chairman Andrew Sparke said.

The explorer will undertake work to further improve recoveries and other project optimisation.

QML’s Australian Stock Exchange-listed share price has risen 12.96 per cent today, selling at 30c (1.26 pm UTC+ 8 hours).

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