QMines Limited reports high-grade copper and gold at Mount Chalmers

QMines Limited has released initial results from its barge-based drilling program at the Mount Chalmers project in Queensland, Australia. The drilling successfully accessed the floor of the flooded Mount Chalmers open pit for the first time.

The results exceeded previous resource models. One significant drill hole, 26MCDD025, reached a section of 16.7 meters with average grades of 1.04% copper, 1.16 g/t gold, and 26 g/t silver. Within this section, a 6.7-meter interval contained 2.07% copper and 2.37 g/t gold.

Over a total length of 43.7 meters in the mineralized zone, drill hole 26MCDD025 yielded an average copper equivalent grade of 1.31%, surpassing the 1.10% previously estimated in the 2024 resource model.