Mount Mackenzie Drilling Yields 9m at 7.78g/t Au and 39.39g/t Ag Intercept
QMines Limited’s maiden drilling program at Mount Mackenzie delivers consistent high-grade gold and silver results, confirming multiple mineralised zones with promising depth extensions. The company advances towards an updated Pre-Feasibility Study, underpinning future mine design and resource growth.
- 22 of 36 planned drill holes completed, confirming grade continuity
- Multiple stacked high-grade gold and silver mineralised zones identified
- Deeper mineralisation zones discovered beyond historical drilling extents
- Supports open pit mining with robust high-sulphidation epithermal system
- Updated Mineral Resource Estimate and mine planning targeted for H2 2026
Mount Mackenzie Drilling Progress
QMines Limited (ASX – QML) has reported encouraging results from its ongoing maiden drilling campaign at the Mount Mackenzie gold-silver project in Central Queensland. With 22 of the 36 planned reverse circulation holes completed, the program has delivered a series of high-grade intercepts that reinforce the project's growth potential. The drilling has confirmed multiple stacked mineralised zones, demonstrating both lateral and depth continuity within a robust high-sulphidation epithermal system.
High-Grade Intercepts and Geological Insights
Significant assay results include intercepts such as 9 metres at 7.78 grams per tonne gold and 39.39 grams per tonne silver, and 2 metres at 16.01 grams per tonne gold with silver exceeding 100 grams per tonne. These findings validate and enhance confidence in historical drilling data, while also revealing deeper mineralised zones previously underexplored. The mineralisation remains shallow and laterally continuous, with pervasive alteration and silicification indicative of an open pit mining-friendly environment.
Strategic Development and Resource Confidence
Executive Chairman Andrew Sparke highlighted the significance of these results, noting the consistency of grades and the discovery of deeper zones as key factors bolstering the project's development outlook. The company is focused on targeted infill and step-out drilling to refine the resource base, which will feed into updated Mineral Resource Estimates and mine design studies scheduled for the second half of 2026. Exploration Manager Tom Bartschi added that modern drilling techniques are improving geological understanding, allowing for better definition of mineralised domains and structural controls.
Broader Central Queensland Strategy
Mount Mackenzie forms a critical part of QMines’ broader Central Queensland development strategy, alongside the Mt Chalmers and Develin Creek projects. Parallel workstreams at these sites are advancing, including resource upgrades and mine planning. Integrated development studies are underway to assess the feasibility of combining ore feed from all three deposits into a centralised processing facility, aiming to optimise operational efficiencies and project economics.
Next Steps and Market Implications
As drilling continues with multiple rigs active on site, further assay results are pending and expected to provide additional clarity on resource extensions. The company’s planned updated Pre-Feasibility Study will incorporate these findings, alongside metallurgical testwork and mine optimisation efforts. Investors and analysts will be watching closely for how these developments translate into resource upgrades and project valuation enhancements.
Bottom Line?
Mount Mackenzie’s expanding high-grade zones position QMines for a pivotal resource update and mine design phase in 2026.
Questions in the middle?
- How will upcoming assay results influence the updated Mineral Resource Estimate?
- What is the potential scale and grade of the newly identified deeper mineralised zones?
- How will integration of Mount Mackenzie with Mt Chalmers and Develin Creek impact project economics?
