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Qmines Limited (ASX:QML)

ALERT: Price-sensitive ASX Announcement for QML
Current share price for QML : $0.066 0.01 (17.86%)+
Announcement
Release
5 Aug 2026 9:50AM
Price at Release
$0.056
Full Release
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Summary
QMines Limited announced a significant upgrade in the Mineral Resource Estimate for the Mount Mackenzie Gold and Silver Project, delivering a 32% increase in contained gold and a 30% increase in contained silver. The updated resource now stands at 5.22 million tonnes at 1.01 g/t gold and 6.7 g/t silver, with approximately 70% of the gold classified as Indicated. This improvement reflects the success of QMines' recent comprehensive drilling campaign, which also enhanced geological understanding and resource classification. The project is poised for further exploration and development, with potential for additional resource growth.
Key Points
  • Mount Mackenzie Mineral Resource Estimate increased to 5.22 Mt at 1.01 g/t Au and 6.7 g/t Ag.
  • The resource now contains 170,000 ounces of gold and 1.12 million ounces of silver.
  • Approximately 70% of the contained gold is now classified as Indicated.
  • The updated estimate incorporates results from a recent 73-hole, 9,798-meter drilling campaign.
  • The drilling campaign significantly improved geological understanding and targeting criteria.
  • The updated Mineral Resource represents a 32% increase in contained gold and a 30% increase in contained silver.
  • The updated estimate provides a stronger technical foundation for future mine planning and development.
  • The project remains open along strike and at depth, indicating potential for further resource growth.
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.