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QMines thicken Mt Chalmers metal

16 June 2022 14:55
ASX: QML

QMines has returned 5.1 per cent copper equivalent (Cu-Zn-Au) from its historically high-grade Mt Chalmers copper-gold mine in central Queensland.

The results compound excitement for the company with imminent results from a further eight holes and electromagnetic survey data from the site’s 316 square kilometres of volcanogenic massive sulfide ore deposits.

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The company said step-out drilling is continuing on several of the deposit’s open ends.

“The historic Mt Chalmers mine continues to deliver shallow, thick and high-grade copper and gold results,” executive chairman Andrew Sparke said.

“The RC drill rig and our drilling team are performing exceptionally well with significantly more meters being delivered regularly.”

While drilling continues unabated, the ESG-focused company will continue exploring other advanced copper and gold projects in the sunshine state.

Significant results:

  • 69m @ 2.0% CuEq from 137 metres; including 16m @ 5.1% CuEq from 137 metres; and 4m @ 3.9% CuEq from 163 metres
  • 14m @ 3.0% CuEq from 64 metres
  • 15m @ 2.1% CuEq from 25 metres
  • 40m @ 1.2% CuEq from 76 metres; including 9m @ 4.1% CuEq from 107 metres

QML’s Australian Stock Exchange-listed share price has risen 2.44 per cent today, selling at 21c (9.57 am UTC+ 8 hours).

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