Qmines Announces 32% Gold Increase at Mt Mackenzie
Key points
- Resource upgrade delivers 32% increase in gold
- 70% of gold now classified as Indicated
- Improved geological understanding and targeting criteria
- No new drilling closed off any deposits
- Ninth resource update since 2021
Full summary
Qmines Ltd is pleased to announce an updated JORC (2012) Mineral Resource Estimate (MRE) for its 100% owned Mount Mackenzie Gold and Silver Project in Central Queensland. The updated MRE comprises 5.22 Mt @ 1.01 g/t Au and 6.7 g/t Ag, containing 170,000 ounces of gold and 1.12 million ounces of silver, reported at a 0.4 g/t Au lower cut-off grade. This update represents a 32% increase in contained gold and 30% increase in contained silver compared to the May 2020 estimate. Notably, approximately 70% of the contained gold is now classified as Indicated, providing a higher-confidence resource base. The recent drilling campaign has significantly improved geological understanding and identified clear controls on higher-grade mineralization. Importantly, the drilling program has not closed off any of the deposits, which remain open along strike and at depth.
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