Drilling Commences at High-Grade Mt Mackenzie Gold Project

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Stock Qmines Ltd (QML.ASX)
Release Time 22 Oct 2025, 9:22 a.m.
Price Sensitive Yes
 Drilling Commences at High-Grade Mt Mackenzie Gold Project
Key Points
  • Develin Creek drilling program completed with 8,600m campaign
  • Two drill rigs mobilized to Mt Mackenzie Gold-Silver Project, first hole drilled
  • Maiden 36-hole, 5,000m program to test strike and depth extensions of high-grade gold zones and untested gold-in-soil anomalies
Full Summary

QMines Limited (ASX:QML) has successfully concluded its resource definition and expansion drilling program at the Develin Creek Copper-Zinc Project and commenced a maiden drilling campaign at the recently acquired Mount Mackenzie Gold-Silver Project in Central Queensland. The Develin Creek program totaled 8,030m of Reverse Circulation (RC) and 584.9m of HQ3 Diamond drilling, with the primary objective to expand and upgrade the Volcanic Hosted Massive Sulphide (VHMS) resource at the Sulphide City deposit. Preliminary observations indicate structural and grade continuity consistent with the existing geological model. With the Develin Creek program completed, two drilling rigs have been mobilized to the high-grade Mount Mackenzie Gold-Silver Project, where the initial hole of a planned 36-hole, 5,000m program has now been successfully drilled. The Mount Mackenzie deposit is classified as a high-sulphidation epithermal gold-silver mineral system, with mineralisation occurring as gold and silver bearing sulphides and oxides within volcaniclastic rocks, brecciated rhyolites, and hydrothermally altered tuffs. The current drilling program is designed to test multiple strike and depth extensions of the known mineralisation, as well as several untested gold-in-soil anomalies that represent opportunities for resource expansion. Historical drilling at Mount Mackenzie has yielded high-grade intersections, including 8m @ 69.4g/t Au, 12m @ 13.5g/t Au, and 27m @ 6.5g/t Au, indicating the potential to host significant gold and silver concentrations.

Outlook

The current drilling program at the Mt Mackenzie Gold-Silver Project is designed to validate and extend historical high-grade intersections and test identified geochemical targets, with the aim of expanding the known mineralisation along strike and at depth.