• Assays confirm bonanza-grade gold and silver mineralisation at the Vein355 prospect
• Reprocessing of historical IP data identifies five new near-surface targets across a 1.2km x 750m footprint
• Vein355 sits within a larger high sulphidation hydrothermal system at Mount Mackenzie

QMines Limited (ASX:QML) has reported bonanza results from assays of diamond hole MMDD010 at the Vein355 prospect within the Mount Mackenzie Project in Central Queensland. The results confirm that Vein355 hosts a coherent shallow mineralised breccia containing multiple bonanza grade gold positions, with a peak assay of 1m @ 108.0 g/t Au and 61.9 g/t Ag from 11m. The company has also outlined the results of reprocessing and 3D inversion of the historical Induced Polarisation (IP) dataset across the broader project area, which has materially improved the definition of the shallow hydrothermal architecture at Mount Mackenzie. The updated IP interpretation defines two annular lithocap style centres and three sulphide bearing structural conduit targets across a 1.2km x 750m footprint, indicating a much larger and more coherent high sulphidation hydrothermal system than previously understood. The company believes these results support continued evaluation of both the Vein355 prospect and the broader Mount Mackenzie project.

The company will incorporate the results obtained to date into ongoing geological interpretation and broader target assessment across the Mount Mackenzie project area. As additional data becomes available, it will be used to further inform the company's understanding of Vein355 and the wider hydrothermal system.