QMines advances Mt Chalmers copper-gold project in Queensland

QMines Mt Chalmers copper exploration gold drilling QDrilling divestment

QMines has reported high-grade drilling results at its Mt Chalmers copper-gold deposit in central Queensland, aimed at supporting an updated mineral resource estimate. Recent diamond core drilling identified semi-massive sulphides and high-grade intervals, including a 2.4m zone at 5.4 per cent copper and 3.8g/t gold.

To focus resources on the Mt Chalmers development, QMines has completed the $1.4 million sale of its subsidiary, QDrilling, to Gas Field Services. The divestment allows the company to concentrate capital on its expanded 129-hole exploration campaign and a definitive feasibility study. Under the agreement, the drilling rig will remain on-site at Mt Chalmers to ensure exploration continues without interruption while the sale proceeds are collected in scheduled tranches through 2027.

Entities

Gas Field Services · Mt Chalmers · QDrilling · QMines · Tom Bartschi

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The drilling rig will remain at the Mt Chalmers site following the change in ownership. smallcaps.com.au
[○ 1 SOURCE] The sale of QDrilling is being paid in five tranches through September 2027. smallcaps.com.au
[○ 1 SOURCE] QMines intersected a 2.4m interval at 5.4 per cent copper and 3.8g/t gold at Mt Chalmers. miningmagazine.com.au
[○ 1 SOURCE] QMines completed the $1.4 million sale of its QDrilling subsidiary to Gas Field Services. smallcaps.com.au
[○ 1 SOURCE] QMines is undertaking a 129-hole exploration campaign covering approximately 20,000 metres. smallcaps.com.au

Sources

QMines strengthens Mt Chalmers resource case with high-grade drilling - Mining Magazine Australia [miningmagazine.com.au]

6 days ago

QMines Completes $1.4m Sale of QDrilling Business to Focus on Mt Chalmers [smallcaps.com.au]

4 days ago