QMines Ignites Maiden Drilling at High-Grade Mount Mackenzie Gold-Silver Project

Develin Creek Campaign Wraps Up

QMines Limited (ASX – QML) has announced the successful completion of its resource definition and expansion drilling program at the Develin Creek Copper-Zinc Project in Central Queensland. The campaign delivered a total of 8,600 metres of drilling, combining Reverse Circulation and diamond core techniques. While final assay results are awaited, preliminary observations suggest strong structural and grade continuity consistent with existing geological models, setting the stage for an updated Mineral Resource Estimate.

Maiden Drilling Begins at Mount Mackenzie

With Develin Creek drilling concluded, QMines has mobilised two rigs to the recently acquired Mount Mackenzie Gold-Silver Project, initiating a maiden 36-hole program targeting approximately 5,000 metres. This campaign aims to test both strike and depth extensions of known high-grade gold zones, as well as several untested gold-in-soil anomalies identified through historical sampling. The first hole has been successfully drilled, with assays already submitted to ALS in Townsville for analysis.

Historical High-Grade Context

Mount Mackenzie boasts a rich history of high-grade gold and silver intersections, including standout results such as 8 metres at 69.4 grams per tonne gold and 17 grams per tonne silver, and broader zones like 100 metres at 2.9 grams per tonne gold. These historical intercepts underscore the deposit’s potential, which remains open both at depth and along strike, offering significant upside for resource growth.

Geological Setting and Exploration Strategy

The project lies within the Connors-Auburn Province, a prolific volcanic arc known for high-sulphidation epithermal gold-silver mineralisation dating back to the Late Carboniferous period. Mineralisation occurs within volcaniclastic rocks and brecciated rhyolites, controlled by fault networks that channelled metal-rich hydrothermal fluids. QMines’ current drilling program is designed to validate and extend these mineralised zones, with particular focus on large untested soil anomalies to the south and southwest of the known deposits.

Management Perspective and Market Implications

Executive Chairman Andrew Sparke described Mount Mackenzie as one of the most exciting high-grade gold and silver projects he has encountered recently, highlighting the deposit’s grade, width, and open-ended potential. The commencement of this maiden drilling program under QMines ownership signals a pivotal step towards unlocking value for shareholders and the broader market, with the potential to significantly expand the resource base.