QMines sets sights on resource growth at historic Mt Chalmers Copper-Gold Mine in Queensland
- QMines strengthens board through appointment of experienced geologist
- QMines’ Mt Chalmers delivers bonanza-grade zinc and lead with high-grade copper, gold and silver to boot
- QMines Ltd sees potential for multiple Mt Chalmers look-a-likes
Quick facts: QMines Ltd
Price: 0.32 AUD
Market Cap: $35.64 m
About the company
QMines Ltd (ASX:QML)(FSE:81V) is seeking to become Australia’s first zero carbon copper and gold developer.
The company’s flagship project, Mount Chalmers, is a high-grade historic copper and gold producer.
How it is doing
Caristo has more than 24 years of experience as a geologist working across project generation, assessment and management in Australia and overseas covering greenfields and brownfields projects.
He has covered a wide range of copper and gold projects within various geological terranes and mineralisation styles.
QMines has been looking to strengthen its in-house technical capability since its recent ASX listing with the board welcoming the new director.
The broker said the IPO of QMines “appears well-timed”, as the copper price is currently trading at US$9,463 per tonne.
The Mt Chalmers project has an inferred resource of 3.9 million tonnes at 1.15% copper, 0.81 g/t gold and 8.4 g/t silver with total historic production of 1,244,618 tonnes at 2.0% copper, 3.6 g/t gold and 19 g/t silver mined between 1898 and 1982.
Insight: QMines’ Mt Chalmers delivers bonanza-grade zinc and lead with high-grade...
QMines Ltd (ASX:QML) (FRA:81V) has delivered bonanza-grade zinc and lead along with high-grade copper, gold and silver, from recent diamond drilling at the flagship Mt Chalmers Copper Project, 17 kilometres north-east of Rockhampton in Queensland.
The final four diamond holes from Mt Chalmers have returned numerous high-grade precious and base metal intersections with strong polymetallic grades including 2.2 metres at 0.85 g/t gold, 41 g/t silver, 0.54% copper, 8.3% lead and 16.8% zinc from drill hole MCDD001.
What management says
QMines Ltd (ASX:QML)'s Andrew Sparke speaks to Proactive following the release of the results of a six-month historic soil sampling digitisation program at its flagship Mt Chalmers project. The program has identified several large copper and zinc soil anomalies within the Permian Berserker Beds which hosts the historic Mt Chalmers volcanic-hosted massive sulphide (VHMS) deposit.
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