Mount Mackenzie Drilling Could Make or Break QMines’ Growth Ambitions
QMines Limited has launched a significant 5,000m drilling campaign at its Mount Mackenzie gold and silver project, aiming to unlock substantial resource growth potential following a recent resource upgrade.
- Initiation of 36-hole, 5,000m high-grade gold and silver drilling program
- Mount Mackenzie hosts 3.3 Mt at 1.4 g/t Au and 8.4 g/t Ag resource per JORC 2012
- Historic drilling reveals exceptional gold grades up to 69.4 g/t Au over 8m
- Drilling targets strike and depth extensions to expand resource base
- Project complements QMines’ regional portfolio including Mt Chalmers and Develin Creek
Mount Mackenzie, A High-Grade Opportunity
QMines Limited (ASX, QML) has commenced a focused high-grade gold and silver drilling program at its 100% owned Mount Mackenzie project in Queensland. The initial phase involves 36 holes totaling approximately 5,000 metres, with two rigs mobilizing to site shortly. This drilling campaign aims to test multiple strike and depth extensions of mineralisation, building on a recent JORC 2012 Mineral Resource Estimate (MRE) that reported 3.3 million tonnes grading 1.4 grams per tonne gold and 8.4 grams per tonne silver.
Historic Drilling Highlights and Resource Potential
Mount Mackenzie has a compelling exploration history, with previous drilling intersecting remarkable high-grade zones such as 8 metres at 69.41 g/t gold and 17 g/t silver, and broader mineralised intervals including 100 metres at 2.86 g/t gold. These results underscore the project's potential to significantly grow its resource base. Notably, many historic drill holes ended in mineralisation, suggesting substantial upside remains at depth and along strike.
Strategic Fit Within QMines’ Regional Portfolio
Located about 140 kilometres northwest of Rockhampton and near QMines’ Develin Creek copper project, Mount Mackenzie is poised to enhance the company’s regional growth strategy. The project is expected to extend the life of mine at the nearby Mount Chalmers copper-gold operation by adding valuable gold and silver ounces to the global resource. QMines’ Executive Chairman, Andrew Sparke, described the deposit as "one of the most exciting high-grade gold and silver drilling programs" he has seen in years, highlighting the potential for transformative results.
Geological Context and Exploration Approach
The Mount Mackenzie deposit is a high-sulphidation epithermal gold-silver system hosted within volcanic and intrusive rocks of the Connors-Auburn Province. Mineralisation occurs in two main zones; North Knoll and Southwest Slopes; both remaining open for expansion. The upcoming drilling will focus on these zones, targeting shallow, high-grade mineralisation and untested gold-in-soil anomalies identified through detailed geological and geophysical analysis.
Looking Ahead
With a robust geological framework, strong historic results, and a clear strategy to expand resources, QMines’ drilling program at Mount Mackenzie represents a critical step towards unlocking the project’s full potential. The market will be watching closely for assay results and subsequent resource updates that could reshape the company’s growth trajectory.
Bottom Line?
QMines’ ambitious drilling at Mount Mackenzie could redefine its resource profile and regional standing; next results will be pivotal.
Questions in the middle?
- How will the upcoming drilling results impact the overall resource estimate and mine life at Mount Mackenzie?
- What are the timelines and expectations for assay results and subsequent resource upgrades?
- How might successful expansion at Mount Mackenzie influence QMines’ broader development plans and capital allocation?
