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Qmines Limited (ASX:QML)

ALERT: Price-sensitive ASX Announcement for QML
Current share price for QML : $0.066 0.015 (29.41%)+
Announcement
Release
22 Jul 2026 10:05AM
Price at Release
$0.051
Full Release
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Summary
QMines Limited has commenced a significant 10,000m multi-rig drilling program at the Mt Chalmers copper-gold project in Queensland, Australia. This initiative focuses on expanding the resource base and supporting the Definitive Feasibility Study (DFS) for the Mt Chalmers Mine. The campaign, which is the largest in the company's history, targets the Woods Shaft deposit to enhance its copper-gold resources. Initial results have shown promising high-grade mineralization, with the first holes revealing substantial copper and gold values. The project includes five distinct drilling programs designed to gather comprehensive geological, metallurgical, and environmental data. A steady flow of technical updates is anticipated throughout the latter half of 2026 as assays continue to be processed.
Key Points
  • QMines Limited launches a 10,000m multi-rig drilling campaign at the Mt Chalmers copper-gold project.
  • The program is focused on resource growth and development drilling for the Mt Chalmers Definitive Feasibility Study (DFS).
  • Initial drilling results include high-grade copper, gold, zinc, lead, and silver from the opening hole.
  • The Woods Shaft deposit is a significant target, aiming to increase resource to support an expanded Mt Chalmers Mine.
  • First metallurgical hole results show 18m at 2.7g/t Au and 1.7% Cu, including high-grade assays.
  • Two parallel work-streams are underway: one for resource growth and exploration, the other for DFS support.
  • The campaign involves five drilling programs including metallurgical, geotechnical, and resource drilling.
  • Strong news flow is expected through the second half of 2026 with assays pending from multiple holes.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.