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Highlights
- High-grade zones revealed at Mt Chalmers
- 15.5 Mt combined resource with strong copper-gold grades
- Expansion supports long-term hub strategy in Queensland
QMines (ASX:QML) has identified significant high-grade copper and gold zones at its Mt Chalmers Project in Central Queensland, positioning itself for deeper exploration and long-term scale within the ASX200 resources ecosystem. The company’s recent grade contour mapping, built on a detailed review of historical and modern drilling data, marks a major step forward in advancing a sustainable resource hub.
The new mapping exercise has uncovered several previously underexplored areas across the Mt Chalmers region, including Woods Shaft, Botos, and Mt Warminster. These zones are now confirmed to remain open along strike and at depth, with gold values exceeding 10 grams per tonne (g/t) and copper zones registering above 10%.
The reinterpretation supports QMines' strategic objective to build a long-life operation by expanding resources around a central processing facility. One key corridor, the 20-kilometre-long Cawarral Gold Trend, has revealed additional underexplored gold targets that may further enhance future project development.
Currently, the Mt Chalmers resource stands at 11.3 million tonnes (Mt), with grades of 0.75% copper, 0.42 g/t gold, 0.22% zinc, and 4.5 g/t silver. Backing these numbers is a pre-feasibility study (PFS) completed in April 2024, which outlined a one-million-tonne-per-annum copper-gold operation and provided an Ore Reserve Estimate of 9.6 Mt. A revised PFS is already underway and is set to integrate the recently acquired Develin Creek and Mt Mackenzie projects.
With the new findings, the Mt Chalmers site shows parallel high-grade gold zones spaced 100 metres apart, as well as copper pods enriched with gold mineralisation extending to the north. Meanwhile, Woods Shaft exhibits gold mineralisation beyond its 250-metre resource boundary, and both Botos and Mt Warminster offer large mineralised envelopes with numerous untested exploration targets.
Across its regional database, more than 50 targets have now been identified, underlining the company’s commitment to scale and resource expansion. When combined with the Develin Creek asset, QMines now holds a total resource base of 15.5 Mt grading 0.82% copper, 0.35 g/t gold, 0.47% zinc, and 5 g/t silver.
For investors monitoring emerging ASX dividend stocks or assessing growth-driven players in the broader ASX200 market, QMines' continued progress signals momentum toward resource-backed value creation in the sector.
