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3 clusters · 8 sources · 15 days · First seen 21 days ago · Last updated 6 days ago

Mining exploration in Queensland, Australia

Overview

Mining exploration activities in Queensland, Australia, have yielded positive geological results.

QMines Limited reported that its barge-based drilling at the Mount Chalmers project successfully accessed the floor of a flooded open pit. The results exceeded previous resource models, with one specific drill hole yielding an average copper equivalent grade of 1.31%, surpassing the 1.10% estimated in 2024. Recent diamond core drilling at the site 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 support an updated mineral resource estimate and a definitive feasibility study, QMines completed the $1.4 million sale of its subsidiary, QDrilling, to Gas Field Services. The drilling rig will remain on-site to ensure the expanded 129-hole exploration campaign continues.

Concurrently, Great Southern Mining and Gold Fields reported results from maiden drilling at the Mt Dillon target near Edinburgh Park. The 1535-metre, two-hole program was conducted under an earn-in agreement that allows Gold Fields to spend up to A$15 million for a 75 per cent stake in the project. The drilling intersected a potentially significant mineral-rich structure, with holes reaching depths of 762.1 metres and 772.8 metres. Core logging identified a 60m to 80m-wide fault zone near the surface, followed by volcanic and intrusive rocks with pervasive alteration. Lower sections contained hydrothermal breccia zones with pyrite content reaching up to five per cent. Confirmatory assays are expected in the coming weeks.

Entities

Queensland · QDrilling · Mt Chalmers · Edinburgh Park · QMines Limited

Claims

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

[● 3 SOURCES] Great Southern Mining and Gold Fields have uncovered geological clues from maiden drilling at the Mt Dillon target in Queensland.
[● 3 SOURCES] A fully funded 1535-metre, two-hole drilling program was conducted to test an intrusive-related gold system (IRGS) at Edinburgh Park.
[● 3 SOURCES] Gold Fields has an earn-in agreement to spend up to A$15 million for a 75 per cent stake in the project.
[● 3 SOURCES] Two deep diamond holes were extended to depths of 762.1 metres and 772.8 metres.
[● 3 SOURCES] Core logging revealed a fault zone between 60 and 80 metres wide near the surface.
[● 3 SOURCES] Drill core contained hydrothermal breccia zones with pyrite content of up to five per cent.
[○ 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] The sale of QDrilling is being paid in five tranches through September 2027. smallcaps.com.au
[○ 1 SOURCE] The drilling rig will remain at the Mt Chalmers site following the change in ownership. smallcaps.com.au
[○ 1 SOURCE] QMines is undertaking a 129-hole exploration campaign covering approximately 20,000 metres. smallcaps.com.au

Timeline

6 days ago

[BUSINESS] 2 sources
QMines advances Mt Chalmers copper-gold project in Queensland
QMines is advancing its Mt Chalmers copper-gold project in Queensland through high-grade drilling results and the $1.4 million sale of its QDrilling subsidiary to focus on mine development.
19 days ago

[BUSINESS] 4 sources
Great Southern Mining and Gold Fields report promising drilling results in Queensland
Great Southern Mining and Gold Fields report promising geological clues from maiden drilling at the Mt Dillon target in Queensland, targeting a large-scale copper-gold system.
21 days ago

[BUSINESS] 2 sources
QMines Limited reports high-grade copper and gold at Mount Chalmers
QMines Limited reported drilling results at the Mount Chalmers project in Queensland that exceeded previous resource models, hitting high-grade copper and gold mineralization.

Sources

brisbanetimes.com.au · businessday.com.au · miningmagazine.com.au · miningscout.de · presse-control.de · smallcaps.com.au · theage.com.au · thewest.com.au

This summary has been updated 1 time: see revision history