FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

QMines carry on copper

28 September 2022 10:58
ASX: QML

QMines have continued to strike into broad and consistent zones of mineralisation at its Mt Chalmers flagship accelerating towards an updated copper-gold resource in central Queensland.

All new drill holes will be included in the updated resource circled for November.

The ESG-focused explorer’s last upgrade fattened an already-hefty target by 40 per cent, up to 101 thousand tonnes of copper equivalent, and drilling has since consistently struck into wide zones and high grades with excellent recoveries.

The company said great progress had been made across several areas, with numerous drillholes hitting broad zones outside the current resource model.

“The Company has now delivered over 14,000 metres of RC and diamond drilling at Mt Chalmers and we are now seeing the benefits of the investment in an RC drill rig which has significantly reduced costs and improved efficiencies,” executive chairman Andrew Sparke said.

After the MRE, QMines will commence pit optimisation, with a scoping study to begin early in the new year.

Significant results:

  • 22m @ 1.6% CuEq from 109m – including 2m @ 4.98% CuEq from 122m
  • 30m @ 1.47% CuEq from 108m – including 6m @ 2.89% CuEq from 108m and 4m @ 2.38% CuEq from 132m
  • 34m @ 1.41% CuEq from 124m – including 9m @ 3.97% CuEq from 124m
  • 22m @ 1.12% CuEq from 160m

QML’s Australian Stock Exchange-listed share price was trading at 13c today (9.03 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This