More positive news this morning on the resource front from QML:

QMines Executive Chairman, Andrew Sparke, comments:

“The current drilling program is focused on near-mine resource extension drilling. It is pleasing to see further wide, high-grade and shallow intersections outside the current resource. Given recent results, and the fact that QMines is yet to drill its three near-mine Exploration Targets and four large soil anomalies, management see an opportunity to accelerate its exploration and development plans to fast-track value creation for our shareholders.”

Highlights

Step out drilling continues to intersect broad zones of high-grade copper, gold, silver, lead and zinc mineralisation;

Results include multiple wide and high-grade intersections with peak values of 5.3% Cu, 11.75g/t Au, 243g/t Ag, 33% Zn and 19% Pb;

Recent drilling results to be included in pending resource upgrade; and

The Company’s 30,000m drilling program continues with two rigs onsite where the resource remains open in all direction and further results are awaited.

DISC: held

Another announcement today https://wcsecure.weblink.com.au/pdf/QML/02411724.pdf from QML on new mineralisation at Mt Chalmers with an expected resource update from this work later in the year.  Early in the cycle but looking positive for a resource upgrade.

DRILLING INTERSECTS NEW MINERALISATION OUTSIDE RESOURCE ENVELOPE AT MT CHALMERS

HIGHLIGHTS

Drilling intersects new mineralisation outside resource envelope;
Visible chalcopyrite in stringer veins intersected in all new holes drilled;
New diamond core to be despatched to ALS for assay by end of week;
Assays from the recent RC drilling are currently at ALS and are expected shortly; and

Two drill rigs at Mt Chalmers expected to accelerate the companies planned 30,000m drill program.

SEVERAL LARGE COPPER & ZINC SOIL ANOMALIES CONFIRM LARGE-SCALE POTENTIAL AT MT CHALMERS

HIGHLIGHTS

• Six-month program to digitise large historic soil dataset now complete;
• The program has identified multiple large copper and zinc soil anomalies within the Berserker Beds which host the historic Mt Chalmers mine;
• The newly identified prospects are similar in scale and tenor to the distinctive geochemical signature of the Mt Chalmers deposit;
• Application for additional exploration tenure covering these priority targets has now been submitted;
• The discoveries demonstrate significant scale potential with multiple Mt Chalmers look-a-likes surrounding the historic mine; and
• Large drilling program underway (+30,000m) with second drill rig now onsite and assays expected shortly.