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QMines bring more high-grade results to Mt Chalmers

7 November 2022 09:49
ASX: QML

QMines final four drill holes at Mt Chalmers have returned with more broad and high-grade intersections from both its main deposit and the emerging Woods Shaft prospect at its flagship Queensland project.

It comes ahead of an imminent third resource upgrade at Mt Chalmers, to be followed by a maiden resource from Woods Shaft.

Results from Woods Shaft have continued to deliver, with several broad intersections showing exceptional grades of 8.26, 6.21 and 5.26 per cent copper equivalent, and this latest batch extends mineralisation further northward, where it remains open.

The last upgrade swelled its resource by 38 per cent, and the company said results had demonstrated both the quality and development potential of Mt Chalmers.

“The Company has already delivered two resources since listing in May 2022 and has a further two planned in the coming months, with the Mt Chalmers Resource upgrade expected imminently,” executive chairman Andrew Sparke said.

Next up for QMines is continued operations for a 30,000 metre drill campaign, an EM survey to improve targeting and more exploration and mapping over one of four large copper-zinc anomalies at the project.

Significant results:

  • 25m @ 1.04% CuEq from 30m
  • 19m @ 1.18% CuEq from 4m
  • 1m @ 1.37% Cu Eq from 79m

QML’s Australian Stock Exchange-listed share price has risen 5.65 per cent today, currently selling at 19c (9.01 am UTC+ 8 hours).

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