QMines (ASX:QML) intersects with high-grade copper at Mt Chalmers – The Market Herald


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  • QMines (QML) intersects high-grade copper mineralization at the Mt Chalmers project in Queensland
  • The company recently completed a 12-hole reverse circulation (RC) drilling program on the project with results received from the first three holes.
  • These holes are part of the first stage of the 10,000 meter drill program designed to upgrade and extract the current resource and test the Tracker 3 soil anomaly.
  • Grades have so far peaked at 4.7% copper equivalent and results from the remaining nine holes are expected shortly.
  • QMines ends the day in the gray with shares trading at 23 cents

QMines (QML) has intersected high grade copper mineralization at the Mt Chalmers project in Queensland.

The company recently completed a 12-hole reverse circulation (RC) drilling program on the project with results received from the first three holes.

These 12 holes are part of the first stage of a 10,000 meter RC drilling program designed to upgrade and extract the current resource as well as test the Tracker 3 ground anomaly.

Drilling to date has already identified broader mineralization than expected and provided evidence of stacked mineralized zones.

Once the program is finished, he hopes to improve QMines understanding of geological controls on mineralization.

Results include eight meters at 4.7% copper equivalent from 119 meters to less than 21 meters at 2.6% copper equivalent from 113 meters and 16 meters at 1.1% copper equivalent from 132 meters, including two meters at 4.3% copper equivalent from 179 meters. .

The results of the remaining nine holes are expected to be announced shortly.

“It’s great to see that the Mt Chalmers mine continues to deliver high quality, deep, thick drill results. Further step-out drilling continues at Mt Chalmers, where the deposit remains open in a number of directions,” said Executive Chairman Andrew Sparke.

“The RC rig and our drill team are performing exceptionally well with many more meters being reported on a more consistent basis.”

QMines ended the day in the gray with shares trading at 23 cents.

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