QMines’ Develin Creek Results Boost Mt Chalmers Mine Life Prospects Amid Exploration Upside
QMines has completed a 5,034m drilling program at Develin Creek, delivering strong high-grade copper, zinc, gold, and silver results at the Scorpion and Window deposits. An updated mineral resource estimate is expected in Q1 2025, potentially extending mine life at Mt Chalmers.
- 43-hole, 5,034m drilling program completed at Develin Creek
- High-grade copper-zinc intersections confirmed at Scorpion deposit
- Broad hydrothermal alteration discovered at Window prospect
- Updated mineral resource estimate and mine planning due Q1 2025
- QMines now holds 100% ownership of Develin Creek project
Drilling Success at Develin Creek
QMines Limited (ASX: QML) has announced the completion of its maiden drilling campaign at the Develin Creek project in Queensland, delivering a series of promising high-grade copper, zinc, gold, and silver intersections. The program, comprising 43 reverse circulation holes totaling 5,034 metres, focused on the Scorpion and Window deposits, both located within a volcanic-hosted massive sulphide (VHMS) setting.
Significant results from the Scorpion deposit include intervals such as 20 metres at 2.94% copper, 0.42 g/t gold, 20 g/t silver, and 1.4% zinc from 46 metres depth, with standout sections reaching up to 4.16% copper. These results reinforce Scorpion’s status as a shallow, high-grade copper-zinc deposit with strong potential to extend the mine life of the nearby Mt Chalmers operation.
Window Prospect Shows New Upside Potential
Beyond Scorpion, the drilling program has identified broad hydrothermal alteration beneath the Window prospect, suggesting a potentially new style of mineralisation. Unlike Scorpion, Window’s copper mineralisation occurs as fine disseminated sulphides within a white clay unit, possibly indicative of high sulphidation epithermal alteration. This discovery opens a fresh avenue for exploration and resource growth within the Develin Creek project.
Strategic Ownership and Resource Development
QMines now owns 100% of the Develin Creek project after acquiring the remaining 49% interest from Zenith Minerals in September 2024. The company’s maiden Mineral Resource Estimate (MRE) from September 2023 reported a combined resource of 3.2 million tonnes at 1.05% copper and 1.22% zinc, with substantial gold and silver credits. The latest drilling results will feed into an updated resource estimate expected in the first quarter of 2025, which aims to upgrade inferred resources to indicated or measured categories, enhancing confidence for future mine planning.
Next Steps Toward Production
Looking ahead, QMines plans to conduct geotechnical and metallurgical diamond drilling, update open pit optimisation and mine design, and prioritise regional exploration targets at Mt Chalmers. These efforts align with the company’s broader strategy to transition from exploration to sustainable copper production, leveraging the high-grade nature of its deposits and proximity to existing infrastructure near Rockhampton.
Executive Chairman Andrew Sparke expressed optimism about the drilling outcomes, highlighting the consistency of high-grade intersections and the potential to expand the resource base. The upcoming resource update and mine planning milestones will be critical in shaping QMines’ development trajectory and investor sentiment.
Bottom Line?
QMines’ robust drilling results at Develin Creek set the stage for a pivotal resource update that could redefine the company’s growth and production outlook.
Questions in the middle?
- How will the updated resource estimate impact the mine life and production profile at Mt Chalmers?
- What is the economic potential of the newly identified hydrothermal alteration at the Window prospect?
- When will assays from the remaining eight drill holes be released, and could they further enhance resource confidence?
