QMines Ltd (ASX:QML)‘s maiden drilling program at the Develin Creek copper project has ended on a strong note, with the company picking up an intercept of 114 metres at 1.65% copper close to the surface.
The Queensland project – where QMines is looking for several volcanic-associated massive sulphide (VMS) copper-zinc deposits in the Rookwood Volcanics – had already been defined through a maiden mineral resource estimate (MRE) in 2023.
The estimates were set at 3.2 million tonnes (Mt) at 1.05% copper (Cu), 1.22% zinc (Zn), 0.17g/t gold (Au), and 5.9g/t silver (Ag).
Of this early info, 53% was categorised as inferred and 47% as indicated.
The drilling at Develin Creek was then completed in December 2024 and included 43 drill holes for 5,064 metres.
In one hole – mentioned above – this picked up 114 metres at 1.64% Cu, 0.86% Zn, 0.3g/t Au and 13g/t Ag from 11 metres, including 23 metres at 4.04% Cu, 1.12% Zn, 0.61g/t Au and 26.1g/t Ag from 55m, and 13 metres at 3.15% Cu, 1.37% Zn, 0.52g/t Au and 20g/t Ag from 94 metres.
This was one of two holes drilled down dip designed to assess the ore body’s continuity, dip and consistency for future open pit mining operations.
QMines shares have been trading at 5.5 cents.
Join the discussion: See what HotCopper users are saying about QMines Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。