QMines discovers high-grade copper zone at Mt Chalmers

Exploration efforts at QMines have uncovered a substantial copper-rich deposit adjacent to the abandoned Mt Chalmers open pit, enhancing the geological understanding and providing new material for processing trials as part of its feasibility assessment for restarting operations in Central Queensland.

Strong mineralization confirmed on eastern side of pit

A recent diamond drilling program yielded 44 meters grading 1.03% copper, 0.15 grams per tonne gold, and 2.3 grams per tonne silver from a depth of 103 meters on the pit’s eastern boundary. This discovery stems from QMines’ (ASX:QML) ongoing 10,000-meter drilling initiative at its wholly owned Rockhampton-area project, where two drilling rigs continue operations. Additional assays from 19 holes totaling 2,314 meters remain outstanding.

Within this broader copper zone, drilling encountered 10 meters grading 2.20% copper from 103 meters, including a 2-meter section grading 5.52% copper from 108 meters. The primary intersection revealed chalcopyrite-pyrite mineralization within heavily altered volcanic formations, with core recovery exceeding 99.8% across the 44-meter interval.

Approximately 57 meters to the south, another drill hole identified 7 meters grading 1.02% copper from 111 meters, along with a separate 24-meter zone grading 0.46% copper from 121 meters. The hole was terminated at 150.5 meters after equipment became lodged, though it concluded within mineralized ground. Additionally, the upper sulfide sequence produced a polymetallic intersection of 1.5 meters grading 11.73% zinc, 6.85% lead, 1.35% copper, 7.11 grams per tonne gold, and 60.6 grams per tonne silver from 53.9 meters.

Metallurgical testing progresses alongside resource definition

The collected core samples will now undergo mineralogical, grinding, and flotation assessments, with metallurgical findings to be released separately. Exploration manager Tom Bartschi said this drilling was primarily designed to support the DFS geometallurgical program, so achieving these geological results while also generating fresh core for metallurgical testwork is a great outcome.

Related Post: ASX: Tungsten Refinery Restart and Rare Earth Drilling Hits

These latest findings follow a previous high-grade intersection of 35 meters grading 2.88% copper with associated gold and silver values reported last month. The ongoing drilling focuses on both expanding the geological database and supplying material to evaluate how the mineralization responds to processing methods as the feasibility study advances.

Anticipating upcoming barge drilling results

The Mt Chalmers project currently features an 11.3-million-tonne resource averaging 0.75% copper and 0.42 grams per tonne gold at a 0.3% copper cutoff, comprising 4.2 million tonnes measured, 5.8 million tonnes indicated, and 1.3 million tonnes inferred. The development rationale aligns with strong copper market conditions, positioning junior miners to capitalize on record pricing trends.

The definitive feasibility study is evaluating both a 1-million-tonne-per-annum restart and a 2-million-tonne-per-annum expansion scenario, combining feed from Mt Chalmers and Develin Creek. A $15 million funding package from the Queensland Investment Corporation fully covers the study costs, while BurnVoir Corporate Finance was engaged in September to explore additional financing options alongside the assessment.

Next in the results pipeline are assays from barge drilling beneath the flooded historic open pit—a zone QMines states has not been drilled since 1982. These outcomes, combined with ongoing Woods Shaft drilling and processing testwork, will inform resource modeling and development planning as the company approaches an investment decision.