QMines to drill for high-grade gold at Mount Mackenzie, following on from 8m at 69.41g/t gold

• QMines mobilises two rigs for 5000m drilling program at Mount Mackenzie targeting high-grade gold extensions
• Drilling looks to repeat historical intercepts that returned spectacular results such as 8m at 69.41g/t gold
• Program aimed at extending mineralisation and growing resource base at the Queensland project

Special Report: QMines is kicking off drilling at the advanced Mount Mackenzie project in Queensland, which shows historical high-grade gold and silver intersections along with a contained resource of 129,000oz gold and 862,000oz silver.

Providing a window into what the company’s drilling program could encounter, historical drilling has returned high-grade results such as 8m grading 69.41g/t gold and 17g/t silver from 6m (PDH 355); and 26m at 12.78g/t gold and 34g/t silver from 19m (PDH 422).

This previous work also returned consistently broad intersections such as 100m at 2.86g/t gold and 13g/t silver from 20m (PDH 338); and 88m at 2.7g/t gold and 16g/t silver from 32m (PDH 340).

QMines (ASX:QML) has now mobilised two rigs to carry out an initial 36-hole program totalling 5000m to test multiple strike and depth extensions of high-grade gold mineralisation in holes drilled by previous explorers.

‘The kinds of intersections that can transform a company’

“In my opinion, Mt Mackenzie represents one of the most exciting high-grade gold and silver drilling programs I have seen in a very long time. The deposit has grade, it has width and remains completely open both down plunge and along strike,” QML executive chairman Andrew Sparke said.

“Historical drilling has already delivered spectacular results…these are the types of intersections that can transform a company.

“With two rigs mobilising to site, we are commencing another large drilling program designed to unlock this deposit’s true potential.

“Every hole we put into the ground has the potential to grow the resource base, extend mineralisation and generate the kind of results that capture the market’s attention. This is exactly the kind of program that can deliver real excitement for our shareholders.”

Mount Mackenzie’s huge potential

QML wrapped up the acquisition of Mount Mackenzie in July this year, as part of a move to establish a multi-deposit copper and gold production hub centred around its Mount Chalmers copper and gold project.

The project, which is expected to improve the proposed life of mine of Mount Chalmers, hosts a high-sulphidation epithermal gold-silver mineral system characterised by shallow mineralisation.

Previous exploration identified the North Knoll and Southwest Slopes main zones that demonstrate gold, silver and minor sulphide mineralisation.

The current resource of 3.4Mt at 1.18g/t gold and 9g/t silver remains open in all directions.

Since the project was acquired, the company has continued to review the drillhole data base, geological modelling and geophysical data.

This has indicated that mineralisation extends at depth and along strike, highlighting the strong potential to expand the known deposit.

QML’s imminent drilling will target untested gold in soil anomalies.

This article was developed in collaboration with QMines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.