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Highlights:
- Significant Copper Intercept: QMines Ltd (ASX:QML) reported a 114-metre intercept grading 1.65% copper near the surface at the Develin Creek copper project.
- Extensive Drilling Campaign: The program concluded in December 2024, with 43 drill holes covering 5,064 metres, targeting volcanic-associated massive sulphide (VMS) copper-zinc deposits.
- Robust Mineral Resource Estimate: The maiden mineral resource estimate (MRE) outlined 3.2 million tonnes at 1.05% copper, with 53% classified as inferred and 47% as indicated.
QMines Ltd (ASX:QML) has completed its maiden drilling program at the Develin Creek copper project in Queensland, delivering a substantial intercept of 114 metres at 1.65% copper near the surface. The project is part of the Rookwood Volcanics, an area known for hosting volcanic-associated massive sulphide (VMS) copper-zinc deposits.
The mineral resource estimate (MRE), established in 2023, identified 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, 53% was classified as inferred, while 47% was designated as indicated resources.
Completion of a Comprehensive Drill Program
The drilling campaign at Develin Creek was finalized in December 2024 and comprised 43 drill holes, covering a total of 5,064 metres. The program aimed to refine the understanding of the mineralized system, particularly its continuity and depth extension, which could support future development scenarios.
A key highlight from the drilling was an intercept recorded in one of the two down-dip holes. This intercept included:
- 114 metres at 1.64% Cu, 0.86% Zn, 0.3g/t Au, and 13g/t Ag from 11 metres,
- 23 metres at 4.04% Cu, 1.12% Zn, 0.61g/t Au, and 26.1g/t Ag from 55 metres,
- 13 metres at 3.15% Cu, 1.37% Zn, 0.52g/t Au, and 20g/t Ag from 94 metres.
This intercept is significant as it confirms the presence of high-grade mineralization at relatively shallow depths, enhancing the project's potential. The two down-dip holes were specifically designed to assess the ore body’s continuity, dip, and consistency in preparation for future open-pit mining operations.
Exploring Develin Creek’s Resource Potential
The Develin Creek project remains a key exploration focus for QMines (ASX:QML), with the company seeking to expand its understanding of the VMS system. The project’s maiden MRE, coupled with the latest drilling results, suggests further opportunities for resource expansion.
The presence of zinc, gold, and silver alongside copper adds to the project's economic potential, offering a diversified metal mix that aligns with current market trends. The high-grade sections identified within broader mineralized zones highlight the potential for selective mining strategies to optimize resource extraction.
Future Development Prospects
With the maiden drill program now completed, further analysis will be conducted to evaluate the next steps. Future work programs may focus on expanding the mineral resource base, refining geological models, and assessing development pathways, including potential open-pit scenarios.
The strong drill results at Develin Creek position QMines (ASX:QML) for continued exploration success as it advances its copper-focused strategy. The combination of high-grade intercepts, an established mineral resource, and ongoing geological assessment supports the project’s long-term potential.
