Total
0
Shares
QMines (ASX:QML) posts high-grade results from Mt Chalmers
Rockhampton, Queensland.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • QMines (QML) posted the final four assay results from its diamond drill program at its flagship Mt Chalmers Copper Project in Queensland
  • The company says the holes returned high-grade and bonanza grade copper, gold, silver, zinc and lead results
  • This includes grades of 16.8 per cent zinc, 8.3 per cent lead, 41 grams per tonne silver as well as 9.31 grams per tonne gold and 5.21 per cent copper
  • QML is now carrying out a 30-hole drill program at Mt Chalmers, with the first six holes completed and results to be released shortly
  • Company shares are trading down 10.7 per cent at 37.5 cents each

QMines (QML) posted the final four assay results from its diamond drill program at its flagship Mt Chalmers Copper Project near Rockhampton, Queensland.

The company reported on Monday that the holes returned high-grade and bonanza grade copper, gold, silver, zinc and lead results.

This includes best grades of up to 16.8 per cent zinc, 8.3 per cent lead, 41 grams per tonne silver, 9.31 grams per tonne gold and 5.21 per cent copper across three separate holes.

QML carried out a total of 11 diamond drill holes for 1587 metres at Mt Chalmers, with the program designed to validate the historical data compiled to date.

Commenting on the latest results, QMines Chairman Andrew Sparke said they were extremely encouraging.

"Final assays from the maiden diamond drilling program have returned some outstanding copper, gold and polymetallic results," Mr Spark said.

"The current resource model has not factored in zinc and lead so we will now work towards updating the resource model to factor in these results."

QML has begun another 30-hole reverse circulation drill program at Mt Chalmers, with six holes completed so far.

This program will also validate the historical data and provide infill results which will be used to expand the current resource at the project.

QMines were trading down 10.7 per cent at 37.5 cents each at 1:17 pm AEST.

QML by the numbers
More From The Market Herald
Avira Resources (ASX:AVW) to raise $1.3m for exploration at WA projects

" Avira Resources (ASX:AVW) to raise $1.3m for exploration at WA projects

Avira Resources (AVW) is set to raise $1.3 million to progress exploration in Western Australia, following commitments by investors for a share placement.
Greenland Minerals (ASX:GGG) - Managing Director, John Mair - The Market Herald

" Greenland Minerals (ASX:GGG) prepares white paper following public consultation

Greenland Minerals (GGG) has completed a public consultation period, advancing the preparation of a white paper for its Kvanefjeld project in Greenland.
West Wits Mining (ASX:WWI) - Chairperson, Michael Quinert - The Market Herald

" West Wits Mining (ASX:WWI) lodges prospecting licence to recoup resources

West Wits Mining (WWI) has lodged a prospecting licence application for Qala Shallows and Deeps areas of the Witwatersrand Basin Project in South Africa.
Copper Search (ASX:CUS) - CEO and Executive Director Peter McIntyre - The Market Herald

" Copper Search (ASX:CUS) on track to drill at Emu Creek

Copper Search (CUS) said it’s on track to begin drilling in the Emu Creek area of the Billa Kalina Project in South Australia.