The following sections are AI-generated from the announcement content and are provided as supplementary reader aids only.
What This Announcement Means
QMines had a very productive quarter. The company secured $15 million in strategic funding from the Queensland Investment Corporation (QIC), which fully covers the cost of its Definitive Feasibility Study (DFS) for the Mt Chalmers copper-gold project. This is significant because it removes financial uncertainty and gives the company a clear path toward a final investment decision — essentially, a decision on whether to build the mine.
At the same time, QMines wrapped up its first-ever drilling program at the Mt Mackenzie gold-silver project, completing 73 holes over 9,798 metres. The results confirmed that gold mineralisation extends deeper than previously known, and the company has now started the process of formally estimating how much gold resource is there. At Mt Chalmers, the DFS is progressing rapidly across multiple technical workstreams, and after the quarter ended, the company launched its biggest-ever drilling campaign — over 10,000 metres across five separate programs.
For investors, the key message is that QMines is now fully funded for its feasibility study, actively drilling at its main project, and generating a steady pipeline of results. The company expects the September quarter to deliver multiple significant news catalysts.
Key Takeaways
- QMines secured a $15 million strategic funding package from QIC (comprising $5m equity and $10m royalty), fully funding the Mt Chalmers Definitive Feasibility Study.
- The maiden 73-hole, 9,798m drilling program at Mt Mackenzie was completed, with Mineral Resource estimation now commenced for the North Knoll Core area.
- North Knoll West drilling confirmed gold mineralisation extends below historic shallow drilling, with best results including 24m @ 1.19g/t Au from 71m (MMRD060) and 7m @ 1.89g/t Au from 55m (MMRD059).
- Post-quarter, QMines commenced its largest-ever drilling campaign at Mt Chalmers — over 10,000m across five programs — with initial results including 18m @ 2.7g/t Au and 1.7% Cu from 54m (MCDD003).
- Cash and cash equivalents at quarter end were $14.4 million, providing approximately 5.37 quarters of funding at current operating cash outflow rates.
Key Facts
Highlights
- QMines completed a $15.0m strategic funding package with the QIC Critical Minerals and Battery Technology Fund, fully funding the Company’s Definitive Feasibility Study.1
- Mt Chalmers DFS activities advanced across several work fronts with six geotechnical holes now completed for 538.3m and metallurgical drilling now underway.2
- QMines completed its maiden 73-hole, 9,798m drilling program at the Mt Mackenzie project where Mineral Resource estimation has now commenced.1
- Drilling at Mount Mackenzie’s North Knoll West deposit confirms mineralisation extends below shallow historic drilling with significant results including:
- 24m @ 1.19g/t Au and 13.3g/t Ag from 71m (MMRD060)3
- 7m @ 1.89g/t Au and 34.6g/t Ag from 55m (MMRD059)1
- 12m @ 1.35g/t Au and 8.4g/t Ag from 121m (MMRD061)1
- Drilling at Southern Extension confirmed mineralisation extends between North Knoll and Vein 355 with results including 9m @ 1.17g/t Au and 14.1g/t Ag from 130m (MMRC024).
- Earlier results extended the high-grade gold corridor at the North Knoll deposit with results including 14m @ 3.04g/t Au and 7.2g/t Ag from 21m (MMDD011).4
- QMines commenced a 10,000m drilling program across five work fronts at Mt Chalmers with initial results including 18m @ 2.7g/t Au and 1.7% Cu from 54m (MCDD0035); and
- With a large drilling program underway, further results in the labs and several DFS work fronts progressing with haste, the September quarter is expected to generate several significant catalysts for our shareholders.
- ASX Announcement – QIC INVESTS $15M TO FAST-TRACK MT CHALMERS INTO DEVELOPMENT – 20th April 2026
- ASX Announcement – QMINES RAPIDLY ADVANCES FULLY FUNDED DFS TOWARDS DELIVERY – 1st June 2026
- ASX Announcement – FINAL ASSAY RESULTS COMPLETE MOUNT MACKENZIE DRILLING – 22nd June 2026
- ASX Announcement – DRILLING EXTENDS HIGH-GRADE GOLD CORRIDOR AT MOUNT MACKENZIE – 28th April 2026
- ASX Announcement – Multi-Rig 10,000m Drilling Program Underway at Mt Chalmers – 22nd July 2026
Introduction
QMines Limited (QMines or Company)(ASX:QML) is pleased to announce its June Quarterly Activities Report in what has been another busy quarter for the Company. During the Quarter, the Company completed its maiden Mount Mackenzie drilling program, received and reconciled all outstanding assay results, and shifted its operational focus to the Mt Chalmers Copper Gold Project, where the Definitive Feasibility Study (DFS) workstreams accelerated across all disciplines.
At Mount Mackenzie, drilling concluded in late April. Camp demobilisation, core processing and progressive rehabilitation are now complete. All outstanding assays were received during the quarter, completing the 73-hole, 9,798m program, and Mineral Resource estimation work has now commenced for the North Knoll Core area.
At Mt Chalmers, the DFS is in full swing. The 2026 geotechnical drilling program was completed, including downhole optical televiewer and gyro surveys, straddle packer hydraulic conductivity testing and vibrating wire piezometer installations. Metallurgical drill sites were pegged and prepared, mineragraphy was finalised and the geological model update progressed with haste, positioning the project for an initial 10,000m multi-program drilling campaign that commenced subsequent to quarter end.
At Develin Creek, field activity was limited to progressive rehabilitation and site logistics.
Mount Mackenzie Project (Gold-Silver)
The Mount Mackenzie 2025-2026 drilling program, located approximately 120km northwest of the Mt Chalmers Hub, was completed during the quarter, with drilling wrapping up in late April. Following completion of drilling, camp demobilisation, core cutting and progressive rehabilitation were completed during the period. The site is now inactive, with infrastructure secured, the access gate locked and security cameras installed in several locations across the site.
With receipt of the final assays in June, the completed program comprised 73 holes for 9,798m, made up of 58 RC holes for 5,988m, 9 diamond holes for 2,261m and 6 RC holes with diamond tails for 1,549m, supported by approximately 8,700 assayed samples. The program tested five key areas: North Knoll Core, North Knoll West, the Southern Extension, Vein 355 and Mt Mackenzie South.6 Importantly, the drilling program did not close off several areas with mineralisation remaining open down plunge and along strike of several of the key deposits.
At the commencement of the program, Mount Mackenzie was defined primarily by shallow historic open hole percussion drilling, the majority of which was less than 100m deep. The program was designed to confirm the historic shallow mineralisation, test strike continuity and determine whether the system persisted at depth. The program delivered on each of these objectives, including the discovery of high-grade gold at Vein 355 and the recognition of Mount Mackenzie as a vertically extensive high sulphidation epithermal system.
Mount Mackenzie Results & Interpretation
Assay results received during the quarter completed all outstanding assays from the program. The final batch comprised the North Knoll West diamond tail holes (MMRD059 to MMRD063), Southern Extension RC holes (MMRC021 and MMRC024 to MMRC034), the Vein 355 infill and step out RC holes (MMRC038 to MMRC057) and diamond hole MMDD012 at Vein 355.6
North Knoll West
The five deeper diamond tail holes at North Knoll West were drilled as a westward stepping fence to test the western extension of the North Knoll corridor below much of the previous shallow RC drilling. Significant intercepts included:
- MMRD060: 24m @ 1.19g/t Au and 13.3g/t Ag from 71m, including 2m @ 2.61g/t Au and 33.4g/t Ag from 78m, with a peak assay of 3.48g/t Au. The hole also returned 10m @ 0.58g/t Au from 99m and a shallower zone of 9m @ 0.86g/t Au and 14.4g/t Ag from 58m.6
- MMRD059: 7m @ 1.89g/t Au and 34.6g/t Ag from 55m, including 4m @ 3.08g/t Au and 56.2g/t Ag from 55m, with a deeper interval of 2m @ 0.66g/t Au from 197m confirming mineralisation persists below the main enrichment zone.6
- MMRD061: 12m @ 1.35g/t Au and 8.4g/t Ag from 121m, including 2m @ 4.17g/t Au and 32.7g/t Ag from 128m, with a peak assay of 7.30g/t Au.6
- MMRD062: 13m @ 0.68g/t Au and 2.3g/t Ag from 140m, and MMRD063: 3m @ 0.62g/t Au from 127m within broader low grade anomalism.6
The progressive deepening of mineralised intercepts westward along the fence, from 55m in MMRD059 to 140m in MMRD062, is consistent with the south southwest dipping structural control interpreted across the broader North Knoll corridor. Elevated tellurium, arsenic, copper and antimony, together with anhydrite stockwork veining previously documented in MMDD007 and MMDD008, support the interpretation that North Knoll West may represent a more proximal part of the hydrothermal system and it remains a priority for future deeper diamond drilling.7
Southern Extension
RC drilling across the Southern Extension confirmed structurally controlled mineralisation between North Knoll Core and Vein 355. MMRC024 was the standout result, returning 9m @ 1.17g/t Au and 14.1g/t Ag from 130m, including 2m @ 2.34g/t Au and 36.2g/t Ag from 135m. MMRC021 returned 6m @ 0.88g/t Au and 6.8g/t Ag from 125m, supporting the continuation of the North Knoll structural trend to the south towards the South West Slopes Deposit. MMRC033 returned 6m @ 1.85g/t Au from 10m, including 2m @ 3.88g/t Au from 13m, consistent with a structurally focused near surface mineralised zone. Additional anomalous intervals were returned in MMRC026 (8m @ 0.45g/t Au from 46m) and MMRC030 (5m @ 0.50g/t Au and 7.7g/t Ag from 55m), with the remaining Southern Extension holes returning narrow or low grade intervals consistent with the margin of the currently defined corridor.8
Vein 355 Infill and Step Out
Infill and step out RC drilling at Vein 355 tested the lateral extent of the high-grade position defined by MMDD010 and MMRC035 earlier in the program. MMRC046 returned 2m @ 1.01g/t Au and 4.3g/t Ag from 7m immediately adjacent to the MMDD010 position, and MMRC054 returned 2m @ 1.25g/t Au and 2.5g/t Ag from 33m south of the MMRC035 position. Diamond hole MMDD012 returned 4m @ 2.04g/t Au and 25.89g/t Ag from 17m. The remaining step out holes returned low grade or anomalous results only, indicating that the high-grade Vein 355 position is more likely to represent a structurally focused shoot within a narrow, steeply dipping vein breccia corridor rather than a laterally extensive high grade zone. Further oriented diamond drilling is planned to resolve the geometry and plunge of the mineralised shoot.8
Program Wide Review and Mineral Resource Estimation
Completion of the final assay batch enabled a program wide geological, geochemical and statistical review of the complete dataset. The review identified alteration as the primary control on gold distribution, with structure acting as an important secondary control and depth a relevant variable. A coherent high sulphidation pathfinder signature (Au-Ag-Sb-Pb-Cu-Te-As, with zinc depletion in the lithocap core) has been defined across the full dataset, supporting a coherent geological framework for ongoing drill targeting. Mineral Resource estimation work has commenced, with the North Knoll Core representing the most mature area based on grade, geological continuity and drill spacing.7
Mt Chalmers Definitive Feasibility Study
During the quarter, QMines materially advanced several Definitive Feasibility Study (DFS) workstreams at the Mt Chalmers Copper Gold Project. The DFS builds on the Company’s August 2024 Pre-Feasibility Study (PFS), which returned a Net Present Value (NPV) of $373 million with a 54% Internal Rate of Return (IRR) on a 10.4 year mine life, generating life of mine revenue of A$1.64 billion.12 Importantly, most metals prices have improved significantly since the PFS was announced.
Geotechnical Program
All six 2026 geotechnical holes were completed during the period for a total of 538.3m, including two holes targeting the proposed waste rock dump area. Downhole optical televiewer and gyro surveys were completed on all holes, followed by straddle packer hydraulic conductivity testing and vibrating wire piezometer installations, which were finalised in May. The geotechnical dataset has been handed to the mining and geotechnical consultants for pit slope design and hydrogeological inputs.13
| Hole ID | Easting | Northing | RL | Type | Depth Drilled (m) | Status |
|---|---|---|---|---|---|---|
| 2026_GT01 | 260172.00 | 7421331.00 | 133.00 | DD | 129.9 | Completed |
| 2026_GT02 | 260066.00 | 7421204.00 | 143.00 | DD | 140.0 | Completed |
| 2026_GT03 | 259845.00 | 7421066.00 | 110.00 | DD | 75.5 | Completed |
| 2026_GT04 | 259677.00 | 7421328.00 | 95.00 | DD | 60.5 | Completed |
| 2026_GT05 | 259861.00 | 7421513.00 | 135.00 | DD | 87.1 | Completed |
| 2026_GT06 | 259767.00 | 7421481.00 | 140.00 | DD | 45.3 | Completed |
| Total | 538.3 |
Consultant Mobilisation
DFS consultants were engaged and mobilised across all major workstreams during the quarter, including mine planning and design, waste rock and materials management, geotechnical and hydrogeological assessment, Mineral Resource estimation and audit, geochemical characterisation of waste materials, metallurgical support, product logistics and port studies, stakeholder and community engagement, cultural heritage management, economic impact assessment and environmental approvals. Consultant site visits were completed during June in support of the geotechnical, geochemical and logistics workstreams.16
Metallurgy and Geology
Metallurgical drill sites were pegged in priority order with access prepared, ready for drilling under the broader campaign that commenced subsequent to quarter end. A mineralogy-first geometallurgical testwork program was designed during the quarter, targeting comminution, flotation and locked cycle testwork to deliver DFS economic modelling inputs. Mineragraphy was finalised, and the geological model update progressed, providing further technical inputs for mining, processing and study optimisation work. A geometallurgical domain classification framework was also developed and applied across the 2026 drilling.
- ASX Announcement – QIC INVESTS $15M TO FAST-TRACK MT CHALMERS INTO DEVELOPMENT – 20th April 2026
- ASX Announcement – QMINES RAPIDLY ADVANCES FULLY FUNDED DFS TOWARDS DELIVERY – 1st June 2026
- ASX Announcement – Multi-Rig 10,000m Drilling Program Underway at Mt Chalmers – 22nd July 2026
- ASX Announcement – QMINES RAPIDLY ADVANCES FULLY FUNDED DFS TOWARDS DELIVERY – 1st June 2026
Develin Creek Project
No drilling was completed at Develin Creek during the June quarter. Field activity was limited to progressive rehabilitation across the tenure and relocation of camp infrastructure from Mount Mackenzie. The upgraded 4.70Mt Mineral Resource Estimate reported in the March quarter continues to provide the technical basis for expansion planning and future assessment of Develin Creek mineralisation as a potential feed source for the Mt Chalmers hub. Importantly, mineralisation at all three deposits at Develin Creek remains open down plunge and along strike providing further opportunities for growth.
Strengthened Balance Sheet & Funding Position
During the quarter, QMines significantly strengthened its cash balance through completion of a $15 million strategic funding package with the Queensland Investment Corporation Critical Minerals and Battery Technology Fund (QIC). The package, comprising a $5 million equity investment and a $10 million royalty investment, fully funds the Company’s Definitive Feasibility Study (DFS) and provides a clear pathway towards a Final Investment Decision for the Mt Chalmers Copper and Gold Project. During the quarter, the Company also advanced all major DFS workstreams, with consultant mobilisation, geotechnical drilling and technical studies progressing on schedule, demonstrating rapid execution following completion of the funding package.
Following completion of the investment, QMines welcomed representatives from QIC and the Queensland Government, including the Honourable Roslyn Bates MP, Minister for Finance, Trade, Employment and Training, to the Mt Chalmers Project. The delegation toured the project and received updates on the Company’s redevelopment plans, highlighting the strategic importance of Mt Chalmers in supporting Queensland’s critical minerals sector and regional economic development. We wish to sincerely thanks Minister Bates, Nigel Hutton MP and the QIC team for taking the time to visit this exciting project.
The Company continued to actively engage with the investment community during the quarter, presenting at the Association of Mining & Exploration Companies (AMEC) Pitch & Pizza event and the Sydney Mining Club in conjunction with RIU’s Sydney Resources Round-Up conference. These events provided an opportunity to update institutional investors, brokers and shareholders on the Company’s development strategy, recent technical achievements and fully funded pathway towards development.
QMines also presented at the Connecting Industry Copper and Gold Forum in Gladstone, where management outlined the Company’s progress towards redevelopment of Mt Chalmers and its vision of establishing a multi-project copper and gold production hub in Central Queensland.
Community engagement remained an important focus throughout the quarter, with the Company participating in the Grounded in Growth: Resources of Tomorrow community day hosted by Advance Rockhampton and the Rockhampton Regional Council. The event provided an opportunity to engage directly with local businesses, community representatives and regional stakeholders, reinforcing QMines’ commitment to delivering long-term employment, investment and economic benefits to Central Queensland.
Subsequent to the end of the quarter, QMines presented at the Noosa Mining Conference and Jane Morgan Managements (JMM) annual Noosa Investor Lunch, where management met with institutional investors, brokers and shareholders to provide an update on the Company’s fully funded DFS, accelerating drilling programs and development strategy as the Company advances towards becoming Queensland’s next copper and gold producer.
Payments made to related parties and their associates during the quarter are noted in section 6 of the attached quarterly cash flow report for consulting fees, salaries and superannuation.
Post Quarter Activities
Subsequent to quarter end, QMines commenced its largest drilling campaign to date, with more than 10,000m of drilling underway across five programs and two parallel workstreams at the Mt Chalmers Hub. These included:
- Woods Shaft resource drilling: a planned 39-hole, 7,000m program (35 RC and 4 diamond holes) across ten targets. This program is the largest program ever drilled at the deposit, targeting an expanded resource.
- Metallurgical diamond drilling: 14 holes for 1,500m to deliver comminution and flotation testwork samples, which is nearing completion.
- Geotechnical drilling: 6 holes for 538.3m, which is now complete.
- Slag and waste characterisation drilling: 18 holes across three stockpile areas, providing waste classification data and testing residual metal value in historic slag and stockpiles, remains ongoing.
- In-pit pontoon drilling: 12 holes for 1,200m of resource infill drilling beneath the flooded historic pit.
Initial results from the opening metallurgical drill hole confirmed both principal styles of mineralisation in the Mt Chalmers Volcanic Hosted Massive Sulphide (VHMS) system, with significant intercepts including17:
- MCDD003: 18m @ 2.7g/t Au and 1.7% Cu from 54m, including 12m @ 3.8g/t Au and 2.0% Cu and 1m @ 20.3g/t Au and 3.3% Cu from 61m.
- MCDD003: 5.5m @ 2.5g/t Au, 11.4% Zn, 4.7% Pb and 29g/t Ag from 28.5m, within the upper exhalite hosted polymetallic zone.
- MCDD003: 4.3m @ 1.0% Cu, 1.7g/t Au, 8.9% Zn, 3.7% Pb and 57g/t Ag from 20m.
- 2026_GT03: 3m @ 1.9% Zn from 48m, confirming mineralised VHMS stratigraphy extends into the geotechnical drilling area.
With assays pending from multiple completed holes and three drilling rigs active onsite, QMines is positioned for a sustained flow of technical results through the second half of 2026.
| Hole ID | Easting | Northing | RL (m) |
Dip (°) |
Azi (°) |
EOH (m) |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Zn (%) |
Pb (%) |
Ag (g/t) |
Status |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026_GT02 | 260066 | 7421204 | 143 | -70 | 185 | 140.0 | – | – | – | – | – | – | – | – | Assays pending |
| 2026_GT03 | 259845 | 7421066 | 110 | -85 | 175 | 75.5 | 48.0 | 51.0 | 3.0 | 0.1 | 0.3 | 1.9 | 0.8 | 16 | |
| 2026_GT01 | 260172 | 7421331 | 133 | -75 | 110 | 129.9 | – | – | – | – | – | – | – | – | Assays pending |
| 2026_GT05 | 259861 | 7421513 | 135 | -65 | 20 | 87.1 | – | – | – | – | – | – | – | – | Assays pending |
| 2026_GT04 | 259677 | 7421328 | 95 | -65 | 15 | 60.5 | – | – | – | – | – | – | – | – | Assays pending |
| 2026_GT06 | 259767 | 7421481 | 140 | -90 | 0 | 45.3 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCRD001 | 260003 | 7421420 | 128 | -75.1 | 240 | 8.3 | – | – | – | – | – | – | – | – | Abandoned; not sampled |
| 26MCRD002 | 260014 | 7421421 | 130 | -75.1 | 240 | 211.5 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCDD003 | 259733 | 7421242 | 96 | -60 | 100 | 102.0 | 20.0 | 24.5 | 4.3¹ | 1.0 | 1.7 | 8.9 | 3.7 | 57 | |
| and 28.5 | 34.0 | 5.5 | 0.5 | 2.5 | 11.4 | 4.7 | 29 | ||||||||
| and 54.0 | 72.0 | 18.0 | 1.7 | 2.7 | – | – | 2 | ||||||||
| Incl 54.0 | 66.0 | 12.0 | 2.0 | 3.8 | – | – | 2 | ||||||||
| incl 61.0 | 62.0 | 1.0 | 3.3 | 20.3 | – | – | 5 | ||||||||
| 26MCRD004 | 260075 | 7421295 | 131 | -75 | 320 | 141.6 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCRD005 | 260074 | 7421300 | 130 | -75 | 143 | 154.2 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCDD007 | 259794 | 7421207 | 97 | -55 | 310 | 132.4 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCRD006 | 260012 | 7421429 | 128 | -70 | 10 | 213.4 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCDD008 | 259905 | 7421098 | 108 | -75 | 270 | 159.5 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCDD009 | 259849 | 7421112 | 94 | -90 | 0 | 138.4 | – | – | – | – | – | – | – | – | Assays pending |
| 26MCDD010 | 259797 | 7421201 | 100 | -75 | 141.5 | 131.9 | – | – | – | – | – | – | – | – | Assays pending |
| Hole ID | Prospect | Easting | Northing | mRL | Dip | Azi | EOH (m) |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
Au g·m | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MMRC001 | North Knoll | 749695 | 7469529 | 191 | -90 | 0 | 100 | 9 | 53 | 44 | 1 | 20.78* | 44 | |
| including | 46 | 50 | 4 | 2.17 | 33.25* | 8.7 | ||||||||
| MMRC002 | North Knoll | 749659 | 7469505 | 179 | -55 | 66 | 145 | 115 | 128 | 13 | 0.61 | 6.78 | 7.9 | |
| including | 121 | 124 | 3 | 1.09 | 16.63 | 3.3 | ||||||||
| MMRC003 | North Knoll | 749672 | 7469600 | 170 | -90 | 0 | 180 | 54 | 75 | 21 | 0.65 | 8.02 | 13.7 | |
| including | 54 | 59 | 5 | 1.3 | 13.2 | 6.5 | ||||||||
| MMRC004 | North Knoll | 749641 | 7469543 | 185 | -60 | 60 | 115 | 47 | 58 | 11 | 4.63 | 59.76* | 50.9 | |
| including | 49 | 55 | 6 | 8.11 | >100* | 48.7 | ||||||||
| MMRC005 | North Knoll | 749655 | 7469550 | 176 | -60 | 65 | 95 | 27 | 40 | 13 | 2.21 | 17.22 | 28.73 | |
| including | 33 | 39 | 6 | 3.47 | 21.7 | 20.82 | ||||||||
| MMRC006 | North Knoll | 749636 | 7469543 | 174 | -60 | 65 | 95 | 13 | 22 | 9 | 0.7 | 2.62 | 6.3 | |
| and | 51 | 64 | 13 | 2.51 | 41.74* | 32.63 | ||||||||
| including | 54 | 61 | 7 | 4.33 | 58.59* | 30.31 | ||||||||
| MMRC007 | North Knoll | 749709 | 7469557 | 209 | -60 | 65 | 95 | 52 | 56 | 4 | 2.69 | 17.73 | 10.76 | |
| including | 53 | 55 | 2 | 4.26 | 23.35 | 8.52 | ||||||||
| and | 70 | 84 | 14 | 1.61 | 11.31 | 22.54 | ||||||||
| MMRC008 | North Knoll | 749693 | 7469544 | 209 | -60 | 65 | 100 | 4 | 21 | 17 | 2.36 | 16.45 | 40.12 | |
| including | 13 | 18 | 5 | 5.5 | 41.64 | 27.5 | ||||||||
| and | 78 | 100 | 22 | 1.47 | 12.26 | 32.34 | ||||||||
| including | 93 | 98 | 5 | 3 | 19.34 | 15 | ||||||||
| MMRC009 | North Knoll | 749729 | 7469563 | 212 | -60 | 65 | 95 | NSI | ||||||
| MMRC010 | North Knoll | 749701 | 7469571 | 190 | -70 | 90 | 120 | 82 | 99 | 17 | 1.25 | 14.59 | 21.25 | |
| including | 87 | 88 | 1 | 6.17 | 55.9 | 6.17 | ||||||||
| MMRC011 | North Knoll | 749669 | 7469569 | 186 | -60 | 65 | 95 | 8 | 16 | 8 | 1.85 | 5.16 | 14.8 | |
| and | 69 | 76 | 7 | 0.58 | 1.7 | 4.06 | ||||||||
| MMRC012 | North Knoll | 749653 | 7469564 | 184 | -60 | 65 | 95 | 20 | 35 | 15 | 3.59 | 24.91 | 53.85 | |
| including | 22 | 30 | 8 | 5.29 | 22.11 | 42.32 | ||||||||
| MMRC013 | North Knoll | 749636 | 7469559 | 184 | -60 | 65 | 95 | 36 | 54 | 18 | 3.4 | 28.34* | 61.2 | |
| including | 46 | 48 | 2 | 16.01 | >100* | 32.02 | ||||||||
| MMRC014 | North Knoll | 749652 | 7469579 | 131 | -60 | 65 | 95 | 17 | 32 | 15 | 5.1 | 34.05* | 76.5 | |
| including | 18 | 27 | 9 | 7.78 | 39.39* | 70.02 | ||||||||
| and | 46 | 53 | 7 | 1.17 | 12.69 | 8.19 | ||||||||
| MMRC015 | North Knoll | 749768 | 7469464 | 150 | -60 | 65 | 95 | 7 | 16 | 9 | 2.74 | 26.47 | 24.66 | |
| including | 10 | 13 | 3 | 5.22 | 62.43 | 15.66 | ||||||||
| and | 22 | 26 | 4 | 4.33 | 34.2 | 17.32 | ||||||||
| MMRC016 | North Knoll | 749778 | 7469475 | 199 | -90 | 0 | 95 | NSI | ||||||
| MMRC017 | North Knoll | 749730 | 7469672 | 164 | -60 | 71 | 30 | 24 | 30 | 6 | 0.28 | 1.6 | 1.7 | |
| MMRC018 | North Knoll | 749712 | 7469465 | 193 | -65 | 65 | 151 | 47 | 71 | 24 | 0.63 | 4.3 | 15.2 | |
| including | 57 | 71 | 14 | 0.87 | 5 | 12.2 | ||||||||
| including | 62 | 69 | 7 | 1.23 | 6.7 | 8.6 | ||||||||
| MMRC019 | North Knoll | 749686 | 7469453 | 191 | -65 | 65 | 151 | 65 | 70 | 5 | 0.34 | 21.5 | 1.7 | |
| and | 90 | 96 | 6 | 1.07 | 8.1 | 6.4 | ||||||||
| including | 90 | 95 | 5 | 1.25 | 8.7 | 6.2 | ||||||||
| MMRC020 | North Knoll | 749664 | 7469444 | 190 | -65 | 65 | 151 | 110 | 116 | 6 | 1.02 | 10.2 | 6.1 | |
| including | 111 | 115 | 4 | 1.22 | 10 | 4.9 | ||||||||
| MMRC021 | Southern Extension | 749641 | 7469431 | 187 | -66 | 77 | 151 | 104 | 105 | 1 | 0.21 | 4.9 | 0.2 | |
| 111 | 112 | 1 | 0.22 | 8.9 | 0.2 | |||||||||
| 125 | 131 | 6 | 0.88 | 6.8 | 5.3 | |||||||||
| and | 133 | 135 | 2 | 0.29 | 2.5 | 0.6 | ||||||||
| and | 139 | 140 | 1 | 1.02 | 12.6 | 1.0 | ||||||||
| MMRC022 | North Knoll | 749732 | 7469409 | 197 | -65 | 65 | 151 | 77 | 79 | 2 | 0.5 | 2.3 | 1 | |
| MMRC023 | North Knoll | 749708 | 7469401 | 196 | -65 | 65 | 151 | 90 | 95 | 5 | 0.29 | 1.8 | 1.4 | |
| MMRC024 | Southern Extension | 749692 | 7469399 | 196 | -66 | 71 | 151 | 111 | 113 | 2 | 0.56 | 1.9 | 1.1 | |
| and | 114 | 118 | 4 | 0.40 | 0.8 | 1.6 | ||||||||
| and | 122 | 124 | 2 | 0.26 | 1.1 | 0.5 | ||||||||
| and | 126 | 127 | 1 | 0.52 | 2.7 | 0.5 | ||||||||
| and | 130 | 139 | 9 | 1.17 | 14.1 | 10.5 | ||||||||
| and | 141 | 143 | 2 | 0.24 | 1.1 | 0.5 | ||||||||
| and | 146 | 148 | 2 | 0.28 | 2.9 | 0.6 | ||||||||
| MMRC025 | Southern Extension | 749773 | 7469437 | 199 | -65 | 72 | 151 | 31 | 32 | 1 | 0.24 | 1.4 | 0.2 | |
| MMRC026 | Southern Extension | 749754 | 7469432 | 200 | -65 | 67 | 151 | 43 | 44 | 1 | 0.48 | 3.5 | 0.5 | |
| and | 46 | 54 | 8 | 0.45 | 2.9 | 3.6 | ||||||||
| MMRC027 | Southern Extension | 749735 | 7469365 | 204 | -65 | 72 | 151 | 89 | 91 | 2 | 0.36 | 4.0 | 0.7 | |
| MMRC028 | Southern Extension | 749754 | 7469371 | 206 | -65 | 70 | 151 | 72 | 73 | 1 | 0.33 | 3.0 | 0.3 | |
| MMRC029 | Southern Extension | 749796 | 7469393 | 211 | -65 | 72 | 151 | 7 | 8 | 1 | 0.43 | 4.5 | 0.4 | |
| and | 9 | 10 | 1 | 0.38 | 0.4 | 0.4 | ||||||||
| MMRC030 | Southern Extension | 749770 | 7469332 | 210 | -65 | 70 | 150 | 55 | 60 | 5 | 0.50 | 7.7 | 2.5 | |
| and | 97 | 98 | 1 | 0.58 | 2.4 | 0.6 | ||||||||
| MMRC031 | Southern Extension | 749794 | 7469342 | 215 | -65 | 72 | 149 | 30 | 31 | 1 | 0.31 | 0.5 | 0.3 | |
| and | 55 | 56 | 1 | 0.32 | 0.9 | 0.3 | ||||||||
| MMRC032 | Southern Extension | 749815 | 7469356 | 218 | -66 | 73 | 151 | 11 | 13 | 2 | 0.38 | 1.9 | 0.8 | |
| and | 32 | 35 | 3 | 0.43 | 1.0 | 1.3 | ||||||||
| and | 46 | 47 | 1 | 0.59 | 5.2 | 0.6 | ||||||||
| and | 48 | 49 | 1 | 0.37 | 8.8 | 0.4 | ||||||||
| and | 50 | 52 | 2 | 0.49 | 3.2 | 1.0 | ||||||||
| and | 53 | 55 | 2 | 0.38 | 3.5 | 0.8 | ||||||||
| and | 56 | 59 | 3 | 0.54 | 3.2 | 1.6 | ||||||||
| and | 60 | 64 | 4 | 0.40 | 4.2 | 1.6 | ||||||||
| MMRC033 | Southern Extension | 749839 | 7469358 | 224 | -65 | 75 | 151 | 10 | 16 | 6 | 1.85 | 1.2 | 11.1 | |
| MMRC034 | Southern Extension | 749776 | 7469382 | 209 | -66 | 71 | 151 | 25 | 27 | 2 | 0.40 | 0.9 | 0.8 | |
| and | 34 | 37 | 3 | 0.56 | 3.9 | 1.7 | ||||||||
| and | 51 | 52 | 1 | 0.40 | 8.4 | 0.4 | ||||||||
| and | 59 | 61 | 2 | 0.47 | 3.0 | 0.9 | ||||||||
| MMRC035 | Vein 355 | 750052 | 7469410 | 171 | -90 | 0 | 73 | 24 | 30 | 6 | 3.85 | 5.7 | 23.1 | |
| including | 24 | 25 | 1 | 19.85 | 11 | 19.85 | ||||||||
| MMRC036 | Vein 355 | 750017 | 7469434 | 170 | -90 | 0 | 72 | NSI | ||||||
| MMRC037 | Vein 355 | 750040 | 7469423 | 180 | -90 | 0 | 46 | Abandoned | ||||||
| MMRC038 | Vein 355 | 750026 | 7469412 | 182 | -90 | 360 | 73 | 15 | 16 | 1 | 0.35 | 0.0 | 0.3 | |
| MMRC039 | Vein 355 | 750010 | 7469404 | 187 | -90 | 360 | 73 | NSI | ||||||
| MMRC040 | Vein 355 | 749909 | 7469437 | 185 | -90 | 360 | 73 | NSI | ||||||
| MMRC041 | Vein 355 | 749925 | 7469427 | 187 | -90 | 360 | 73 | NSI | ||||||
| MMRC042 | Vein 355 | 749945 | 7469416 | 189 | -90 | 360 | 66 | NSI | ||||||
| MMRC043 | Vein 355 | 749962 | 7469410 | 190 | -90 | 360 | 73 | NSI | ||||||
| MMRC044 | Vein 355 | 749979 | 7469402 | 191 | -90 | 360 | 73 | 24 | 25 | 1 | 0.21 | 0.2 | 0.2 | |
| MMRC045 | Vein 355 | 749998 | 7469394 | 192 | -90 | 360 | 73 | NSI | ||||||
| MMRC046 | Vein 355 | 750014 | 7469386 | 192 | -90 | 360 | 73 | 7 | 9 | 2 | 1.01 | 4.3 | 2.0 | |
| MMRC047 | Vein 355 | 750035 | 7469379 | 195 | -90 | 0 | 73 | 45 | 46 | 1 | 0.94 | 1.8 | 0.9 | |
| MMRC048 | Vein 355 | 750052 | 7469365 | 196 | -90 | 0 | 73 | 70 | 71 | 1 | 5.98 | 0.6 | 6 | |
| MMRC049 | Vein 355 | 750060 | 7469350 | 197 | -90 | 0 | 73 | NSI | ||||||
| MMRC050 | Vein 355 | 750131 | 7469276 | 205 | -90 | 360 | 73 | 72 | 73 | 1 | 0.21 | 0.0 | 0.2 | |
| MMRC051 | Vein 355 | 749990 | 7469380 | 197 | -90 | 360 | 73 | NSI | ||||||
| MMRC052 | Vein 355 | 750011 | 7469371 | 198 | -90 | 360 | 73 | NSI | ||||||
| MMRC053 | Vein 355 | 750035 | 7469358 | 197 | -90 | 360 | 73 | 47 | 48 | 1 | 0.39 | 1.3 | 0.4 | |
| MMRC054 | Vein 355 | 750042 | 7469397 | 184 | -90 | 360 | 73 | 33 | 35 | 2 | 1.25 | 2.5 | 2.5 | |
| MMRC055 | Vein 355 | 750071 | 7469330 | 196 | -90 | 360 | 73 | NSI | ||||||
| MMRC056 | Vein 355 | 750087 | 7469311 | 199 | -90 | 360 | 73 | NSI | ||||||
| MMRC057 | Vein 355 | 750101 | 7469298 | 201 | -90 | 360 | 73 | 0 | 1 | 1 | 0.24 | 0.0 | 0.2 | |
| MMRC058 | Vein 355 | 750115 | 7469286 | 198 | -90 | 0 | 40 | Abandoned | ||||||
| MMDD004 | North Knoll West | 749831 | 7469277 | 221 | -55 | 150 | 300.4 | NSI | ||||||
| MMDD005 | North Knoll West | 749824 | 7469413 | 243 | -75 | 145 | 300 | NSI | ||||||
| MMDD006 | North Knoll | 749700 | 7469558 | 187 | -75 | 65 | 300 | 0 | 13 | 13 | 0.55 | 0.9 | 7.15 | |
| including | 6 | 13 | 7 | 0.82 | 1.1 | 5.74 | ||||||||
| and | 85 | 104 | 19 | 1.13 | 11.5 | 21.47 | ||||||||
| including | 92 | 104 | 12 | 1.74 | 16.6 | 20.88 | ||||||||
| including | 96 | 101 | 5 | 3.46 | 25.4 | 17.3 | ||||||||
| including | 99 | 100 | 1 | 4.77 | 93.8 | 4.77 | ||||||||
| MMDD007 | North Knoll West | 749545 | 7469550 | 173 | -65 | 104 | 300 | 147 | 183 | 36 | 0.49 | 4.8 | 17.64 | |
| including | 147 | 152 | 5 | 1.89 | 5.6 | 9.45 | ||||||||
| including | 171 | 172 | 1 | 3.01 | 93.8 | 3.01 | ||||||||
| MMDD008 | North Knoll West | 749542 | 7469554 | 172 | -60 | 60 | 300 | 90 | 106 | 16 | 0.38 | 8.1 | 6.08 | |
| including | 95 | 99 | 4 | 1.06 | 23 | 4.24 | ||||||||
| including | 97 | 98 | 1 | 2.24 | 64 | 2.24 | ||||||||
| and | 124 | 131 | 7 | 0.69 | 1.9 | 4.83 | ||||||||
| including | 127 | 128 | 1 | 1.3 | 3.8 | 1.3 | ||||||||
| MMDD009 | North Knoll | 749694 | 7469553 | 186 | -60 | 215 | 297.4 | 0 | 15.8 | 15.8 | 2.58 | 7.1 | 40.79 | |
| including | 9 | 15.8 | 6.8 | 3.24 | 8.4 | 22.03 | ||||||||
| including | 13.5 | 15.8 | 2.3 | 8 | 18.7 | 18.4 | ||||||||
| and | 118 | 124 | 6 | 10.47 | 39.7 | 62.84 | ||||||||
| including | 118 | 122 | 4 | 13.23 | 42.7 | 52.91 | ||||||||
| including | 121 | 122 | 1 | 23.4 | 52.4 | 23.4 | ||||||||
| MMDD010 | Vein 355 | 750028 | 7469398 | 188 | -90 | 0 | 222.5 | 8 | 24 | 16 | 19.35 | 21.6 | 309.6 | |
| including | 11 | 12 | 1 | 108 | 61.9 | 108 | ||||||||
| MMDD011 | North Knoll | 749737 | 7469476 | 171 | -65 | 65 | 199 | 18 | 19 | 1 | 0.53 | 0.8 | 0.5 | |
| and | 21 | 35 | 14 | 3.04 | 7.2 | 42.6 | ||||||||
| including | 29 | 32 | 3 | 7.26 | 7.5 | 21.8 | ||||||||
| and | 38 | 40 | 2 | 0.46 | 9.7 | 0.9 | ||||||||
| MMRD017 | North Knoll | 749731 | 7469674 | 164 | -60 | 65 | 204.5 | 30.6 | 44 | 13.4 | 0.61 | 2.2 | 8.2 | |
| including | 38 | 44 | 6 | 1.23 | 4.1 | 7.4 | ||||||||
| including | 39 | 41 | 2 | 1.98 | 3.8 | 4 | ||||||||
| MMRD059 | North Knoll West | 749613 | 7469551 | 179 | -65 | 71 | 252.2 | 43 | 47 | 4 | 1.27 | 18.9 | 5.1 | |
| and | 52 | 54 | 2 | 0.45 | 7.5 | 0.9 | ||||||||
| and | 55 | 62 | 7 | 1.89 | 34.6 | 13.2 | ||||||||
| and | 72 | 78 | 6 | 0.40 | 11.6 | 2.4 | ||||||||
| and | 197 | 199 | 2 | 0.66 | 19.4 | 1.3 | ||||||||
| MMRD060 | North Knoll West | 749587 | 7469546 | 180 | -66 | 71 | 276.4 | 58 | 67 | 9 | 0.86 | 14.4 | 7.7 | |
| and | 71 | 95 | 24 | 1.19 | 13.3 | 28.6 | ||||||||
| and | 96 | 98 | 2 | 0.73 | 4.2 | 1.5 | ||||||||
| and | 99 | 109 | 10 | 0.58 | 3.8 | 5.8 | ||||||||
| MMRD061 | North Knoll West | 749568 | 7469535 | 175 | -65 | 73 | 275.26 | 88 | 89 | 1 | 0.30 | 1.8 | 0.3 | |
| and | 116 | 118 | 2 | 0.33 | 1.7 | 0.7 | ||||||||
| and | 121 | 133 | 12 | 1.35 | 8.4 | 16.1 | ||||||||
| MMRD062 | North Knoll West | 749549 | 7469520 | 175 | -66 | 69 | 270.42 | 140 | 153 | 13 | 0.68 | 2.3 | 8.8 | |
| and | 154 | 161 | 7 | 0.50 | 3.3 | 3.5 | ||||||||
| MMRD063 | North Knoll West | 749522 | 7469512 | 172 | -66 | 69 | 270.31 | 127 | 130 | 3 | 0.62 | 4.2 | 1.9 | |
| and | 164 | 166 | 2 | 0.31 | 1.1 | 0.6 | ||||||||
| and | 168 | 170 | 2 | 0.22 | 2.0 | 0.4 | ||||||||
| and | 174 | 176 | 2 | 0.22 | 1.5 | 0.4 | ||||||||
| and | 178 | 179 | 1 | 0.73 | 8.6 | 0.7 | ||||||||
| and | 181 | 183 | 2 | 0.50 | 5.2 | 1.0 | ||||||||
| and | 186 | 187 | 1 | 0.38 | 1.5 | 0.4 | ||||||||
| MMDD012 | Vein 355 | 750041 | 7469417 | 184 | -66 | 172 | 72.13 | 17 | 21 | 4 | 2.04 | 25.89 | 8.2 | |
| Hole ID | Easting | Northing | mRL | Dip | Azi | Depth | From | To | Interval | Cu (%) |
Zn (%) |
Au (g/t) |
Ag (g/t) |
CuEq | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DCRC046 | 789077 | 7450262 | 112 | -75 | 126 | 100 | 74 | 78 | 4 | 0.2 | 1.7 | 0.3 | 5.1 | 1.03 | |
| and | 99 | 100 | 1 | 1.2 | 0.3 | 0.3 | 3.8 | 1.55 | |||||||
| DCRC047 | 789128 | 7450252 | 112 | -76 | 138 | 100 | |||||||||
| DCRC048 | 789180 | 7450633 | 120 | -72 | 140 | 319 | 239 | 245 | 6 | 2.2 | 3.0 | 0.3 | 37.0 | 3.74 | |
| DCRC049 | 789177 | 7450594 | 120 | -65 | 125 | 162 | 115 | 119 | 4 | 0.2 | 1.8 | 0.1 | 3.9 | 0.79 | |
| DCRC050 | 789206 | 7450585 | 120 | -65 | 135 | 288 | 167 | 188 | 21 | 1.2 | 2.3 | 0.1 | 2.5 | 1.91 | |
| including | 178 | 187 | 9 | 2.6 | 4.2 | 0.1 | 5.6 | 3.92 | |||||||
| including | 234 | 248 | 14 | 0.4 | 1.1 | 0.3 | 9.1 | 1.12 | |||||||
| including | 246 | 247 | 1 | 1.7 | 5.6 | 2.8 | 97.0 | 7.04 | |||||||
| DCRC051 | 789185 | 7450470 | 126 | -60 | 130 | 100 | 68 | 69 | 1 | 0.3 | 0.5 | 0.0 | 1.2 | 0.47 | |
| DCRC052 | 789036 | 7450314 | 126 | -66 | 139 | 100 | |||||||||
| DCRC053 | 789216 | 7450409 | 112 | -66 | 135 | 150 | |||||||||
| DCRC054 | 789218 | 7450563 | 112 | -74 | 128 | 319 | 134 | 188 | 54 | 0.5 | 1.5 | 0.1 | 2.3 | 1.04 | |
| DCRC055 | 789217 | 7450436 | 112 | -70 | 126 | 240 | 123 | 136 | 13 | 0.2 | 0.0 | 0.0 | 0.0 | 0.2 | |
| DCRC056 | 789222 | 7450471 | 114 | -65 | 320 | 209 | 63 | 68 | 5 | 0.2 | 1.2 | 0.1 | 3.0 | 0.6 | |
| DCRC057 | NSI | ||||||||||||||
| DCRC058 | 789206 | 7450618 | 119 | -65 | 140 | 240 | 196 | 203 | 7 | 1.4 | 0.8 | 0.1 | 3.0 | 1.7 | |
| DCRC059 | 789158 | 7450595 | 123 | -67 | 130 | 196 | 92 | 96 | 4 | 1.4 | 3.0 | 0.3 | 47.0 | 3.1 | |
| and | 162 | 197 | 35 | 0.7 | 1.5 | 0.1 | 3.0 | 1.2 | |||||||
| DCRC060 | 789169 | 7450538 | 116 | -65 | 135 | 276 | 59 | 104 | 44 | 0.6 | 2.3 | 0.1 | 5.3 | 1.4 | |
| including | 59 | 66 | 7 | 1.8 | 1.2 | 0.3 | 23.5 | 2.7 | |||||||
| and | 149 | 161 | 12 | 1.1 | 0.3 | 0.3 | 4.4 | 1.5 | |||||||
| DCRC061 | 789164 | 7450465 | 121 | -75 | 130 | 150 | 104 | 129 | 25 | 0.5 | 3.0 | 0.1 | 2.2 | 1.4 | |
| including | 125 | 129 | 4 | 2.6 | 13.3 | 0.3 | 9.1 | 6.8 | |||||||
| DCRC062 | 789168 | 7450511 | 123 | -75 | 128 | 154 | 133 | 153 | 20 | 0.8 | 0.7 | 0.2 | 2.6 | 1.1 | |
| including | 139 | 144 | 5 | 1.5 | 2.3 | 0.2 | 5.2 | 2.4 | |||||||
| DCRC063 | 789111 | 7450492 | 129 | -60 | 140 | 245 | 165 | 172 | 7 | 1.6 | 1.2 | 0.3 | 26.0 | 2.5 | |
| DCRC064 | 789192 | 7450543 | 79 | -75 | 130 | 264 | 164 | 180 | 16 | 1.2 | 0.1 | 0.2 | 2.7 | 1.4 | |
| DCRC065 | 789279 | 7450492 | 79 | -65 | 152 | 252 | 166 | 169 | 5 | 0.8 | 2.6 | 0.6 | 12.7 | 2.3 | |
| DCRC066 | 789260 | 7450412 | 109 | -70 | 138 | 270 | NSI | ||||||||
| DCRC067 | 789165 | 7450331 | 117 | -71 | 134 | 241 | NSI | ||||||||
| DCRC068 | 789168 | 7450473 | 117 | -76 | 128 | 189 | 2 | 0.3 | 0.3 | 0.2 | 13.9 | 0.7 | |||
| DCRC069 | 789277 | 7450557 | 107 | -76 | 158 | 246 | 163 | 166 | 3 | 2.3 | 1.0 | 0.2 | 18.6 | 3.0 | |
| DCRC070 | 789168 | 7450437 | 116 | -75 | 157 | 270 | 113 | 116 | 3 | 0.9 | 0.8 | 0.3 | 24.8 | 1.7 | |
| and | 135 | 137 | 2 | 1.1 | 0.2 | 0.1 | 2.3 | 1.4 | |||||||
| DCRC071 | 789140 | 7450489 | 120 | -75 | 143 | 174 | 144 | 151 | 7 | 1.1 | 1.4 | 0.2 | 4.8 | 1.7 | |
| DCRC072 | 789125 | 7450517 | 132 | -60 | 147 | 144 | NSI | ||||||||
| DCRC073 | 789113 | 7450554 | 122 | -76 | 145 | 270 | NSI | ||||||||
| DCRC074 | 789226 | 114 | -75 | 138 | 168 | 108 | 119 | 9 | 2.2 | 0.3 | 0.1 | 3.0 | 2.4 | ||
| DCRC075 | 789250 | 7450483 | 117 | -80 | 310 | 153 | 135 | 151 | 16 | 1.7 | 0.5 | 0.4 | 6.0 | 2.3 | |
| Including | 138 | 142 | 4 | 3.5 | 1.1 | 0.4 | 6.9 | 4.3 | |||||||
| DCRC079 | 789125 | 7450265 | 120 | -90 | 360 | 99 | 88 | 99 | 11 | 1.7 | 1.8 | 0.1 | 9.4 | 2.4 | |
| Including | 92 | 99 | 7 | 2.2 | 2.4 | 0.2 | 13.0 | 3.2 | |||||||
| DCRD062 | 789168 | 7450511 | 123 | -75 | 137 | 175.6 | 138 | 163 | 25 | 1.1 | 0.4 | 0.2 | 3.0 | 1.5 | |
| DCRD059 | 789158 | 7450595 | 123 | -67 | 130 | 210 | 197.3 | 200 | 2.7 | 0.6 | 0.6 | 0.0 | 1.5 | 0.7 | |
| DCRD061 | 789164 | 7450465 | 121 | -75 | 150 | 194.1 | 131 | 132 | 1 | 1.9 | 0.6 | 0.2 | 12.0 | 2.4 | |
| DCRC083 | 789124 | 7450276 | 117 | -70 | 137 | 180 | 156 | 162 | 6 | 0.2 | 0.2 | 0.0 | 1.4 | 0.3 | |
| DCRC084 | 789125 | 7450275 | 117 | -90 | 0 | 140 | 97 | 106 | 9 | 0.6 | 0.1 | 0.8 | 5.4 | 1.6 | |
| DCRC085 | 789136 | 7450259 | 120 | -90 | 0 | 135 | 105 | 113 | 8 | 0.5 | 1.3 | 0.1 | 4.2 | 1.0 | |
| DCRD086 | 789269 | 7450465 | 110 | -90 | 0 | 256.9 | 127 | 134 | 7 | 0.43 | 0.89 | 0.16 | 1.36 | 0.86 | |
| DCRC087 | 789269 | 7450465 | 110 | -90 | 0 | 230 | NSI | ||||||||
| DCRC088 | 789251 | 7450509 | 110 | -90 | 0 | 240 | 137 | 171 | 34 | 1.9 | 0.4 | 0.2 | 3.6 | 2.2 | |
| DCRC089 | 789216 | 7450528 | 117 | -90 | 0 | 150 | 69 | 76 | 7 | 3.0 | 8.5 | 0.2 | 32.2 | 6.0 | |
| and | 110 | 128 | 18 | 0.5 | 0.0 | 0.0 | 1.4 | 0.5 | |||||||
| DCRD080 | 789145 | 7450563 | 124 | -70 | 131 | 202.2 | 172 | 175 | 3 | 1.1 | 1.5 | 0.1 | 6.3 | 1.7 | |
Outlook – September Quarter 2026
During the September quarter, QMines will focus on executing its largest drilling campaign to date at the Mt Chalmers Hub and advancing the DFS toward completion.
Key planned activities include:
- Complete the 39-hole, 7,000m Woods Shaft resource drilling program.
- Complete the metallurgical, in-pit pontoon and slag and waste characterisation drilling programs.
- Commence geometallurgical testwork, including comminution and flotation testwork, progressing toward locked cycle tests for DFS economic modelling inputs.
- Advance Mt Chalmers DFS workstreams across mining, geotechnical, hydrogeological, geochemical, metallurgical, logistics, environmental and stakeholder disciplines.
- Progress Mineral Resource estimation for Mount Mackenzie, focused initially on the North Knoll Core area and updated resource work for Mt Chalmers.
- Plan follow up Mount Mackenzie drilling, including a deeper diamond hole at North Knoll West and oriented diamond drilling at Vein 355 to resolve the geometry of the high-grade shoot.
- Progress land access and land acquisition agreements supporting the Mt Chalmers resource growth and waste characterisation programs.
- Continue engagement with landholders, consultants and key stakeholders as the Company progresses toward a future development decision.
Tenement Table
In accordance with Listing Rule 5.3.3, QMines provides the following information in relation to its tenements as of 30 June 2026.
| Project | Tenement | Status | Registered Holder | Interest | Sub-Blocks | Area |
|---|---|---|---|---|---|---|
| Mt Chalmers | EPM 25935 | Renewal Lodged | Dynasty Gold Pty Ltd | 100% | 13 | 41.0km² |
| Mt Chalmers | EPM 27428 | Granted | Rocky Copper Pty Ltd | 100% | 4 | 12.6km² |
| Mt Chalmers | EPM 27697 | Renewal Lodged | Rocky Copper Pty Ltd | 100% | 12 | 37.9km² |
| Mt Chalmers | EPM 27726 | Granted | QMines Limited | 100% | 37 | 116.7km² |
| Mt Chalmers | EPM 27899 | Granted | QMines Limited | 100% | 37 | 116.7km² |
| Mt Chalmers | EPM 29043 | Granted | Rocky Copper Pty Ltd | 100% | 17 | 53.8km² |
| Mt Chalmers | EPM 29264 | Granted | Rocky Copper Pty Ltd | 100% | 54 | 170.5km² |
| Mt Chalmers | EPM 29257 | Application | Rocky Copper Pty Ltd | 100% | 17 | 53.6km² |
| Mt Chalmers | ML 100403 | Application | QMines Limited | 100% | N/a | 453.2ha |
| Develin Creek | EPM 16749 | Granted | Rocky Copper Pty Ltd | 100% | 27 | 85.1km² |
| Develin Creek | EPM 17604 | Renewal Lodged | Rocky Copper Pty Ltd | 100% | 58 | 183.1km² |
| Develin Creek | EPM 29378 | Application | Rocky Copper Pty Ltd | 100% | 100 | 315.5km² |
| Develin Creek | EPM 29379 | Application | Rocky Copper Pty Ltd | 100% | 100 | 314.9km² |
| Develin Creek | EPM 29380 | Application | Rocky Copper Pty Ltd | 100% | 100 | 314.6km² |
| Mt Mackenzie | EPM 10006 | Granted | Mount Mackenzie Mines Pty Ltd | 100% | 5 | 15.8km² |
| Mt Mackenzie | MDL 2008 | Granted | Mount Mackenzie Mines Pty Ltd | 100% | N/a | 1,256.5ha |
Resource & Reserve Estimates
Ore Reserve – Mt Chalmers21
| Deposit | Reserve Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | S (%) |
|---|---|---|---|---|---|---|---|---|
| Mt Chalmers | Proved | 5.1 | 0.3% | 0.72 | 0.58 | 0.25 | 4.70 | 5.80 |
| Mt Chalmers | Probable | 4.5 | 0.3% | 0.57 | 0.37 | 0.29 | 5.50 | 3.60 |
| Total | 9.6 | 0.3% | 0.65 | 0.48 | 0.27 | 5.20 | 4.30 |
Mineral Resource Estimate – Mt Chalmers21
| Deposit | Resource Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | S (%) |
|---|---|---|---|---|---|---|---|---|
| Mt Chalmers | Measured | 4.2 | 0.3% | 0.89 | 0.69 | 0.23 | 4.97 | 5.37 |
| Mt Chalmers | Indicated | 5.8 | 0.3% | 0.69 | 0.28 | 0.19 | 3.99 | 3.77 |
| Mt Chalmers | Inferred | 1.3 | 0.3% | 0.60 | 0.19 | 0.27 | 5.41 | 2.02 |
| Total | 11.3 | 0.3% | 0.75 | 0.42 | 0.23 | 4.60 | 4.30 |
Mineral Resource Estimate – Develin Creek22
| Deposit | Resource Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Zn (%) | Au (g/t) | Ag (g/t) | Not in Mine Plan |
|---|---|---|---|---|---|---|---|---|
| Develin Creek | Indicated | 4.22 | 0.3% | 0.98 | 1.08 | 0.16 | 6.0 | |
| Develin Creek | Inferred | 0.48 | 0.3% | 0.61 | 0.41 | 0.10 | 3.5 | |
| Total | 4.70 | 0.3% | 0.94 | 1.00 | 0.15 | 5.7 |
Mineral Resource Estimate – Woods Shaft23
| Deposit | Resource Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | Not in Mine Plan |
|---|---|---|---|---|---|---|---|---|
| Woods Shaft | Inferred | 0.54 | 0.3% | 0.50 | 0.95 | – | – | |
| Total | 0.54 | 0.3% | 0.50 | 0.95 | – | – |
Mineral Resource Estimate – Mt Mackenzie24
| Deposit25 | Resource Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Au (g/t) * | Zn (%) | Ag (g/t) | Not in Mine Plan |
|---|---|---|---|---|---|---|---|---|
| Mt Mackenzie | Indicated | 2.3 | 0.5-0.7% | – | 1.38 | – | 9.6 | |
| Mt Mackenzie | Inferred | 1.1 | 0.5-0.7% | – | 1.45 | – | 5.8 | |
| Total | 3.4 | 0.5-0.7% | – | 1.40 | – | 8.4 |
*cut-off grade: 0.35 g/t Au for oxide, 0.55 g/t Au for primary.
- ASX Announcement – Mt Chalmers PFS Supports Viable Copper & Gold Mine, 30 April 2024. Rounding errors may occur.
- ASX Announcement – Develin Creek Resource Upgrade Unlocks Expansion Planning, 23 February 2026. Rounding errors may occur.
- ASX Announcement – Maiden Woods Shaft Resource, 22 November 2022. Rounding errors may occur.
- ASX Announcement – Acquisition of the Mount Mackenzie Gold & Silver Project, 16 April 2025. Rounding errors may occur.
Regulatory Statements
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning QMines Limited planned exploration program and other statements that are not historical facts. When used in this document, the words such as “could,” “plan,” “expect,” “intend,” “may”, “potential,” “should,” and similar expressions are forward-looking statements. Although QMines believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource.
Competent Person Statements
Ore Reserve Estimate
The information in this report relating to the Open Pit Optimisation and the Ore Reserve Estimate is based on work compiled by Gary McCrae, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr McCrae is a full time employee of Minecomp Pty Ltd and has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and the work undertaken to qualify as a Competent Person under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr McCrae has consented to the inclusion of this information in the form and context in which it appears.
Mineral Resource Estimate
The information in this report relating to Mineral Resource estimation is based on work completed by Stephen Hyland, a Competent Person and Fellow of the Australasian Institute of Mining and Metallurgy. Mr Hyland is Principal Consultant Geologist with Hyland Geological and Mining Consultants and has the required experience relevant to the style of mineralisation, the type of deposit under consideration and the work undertaken to qualify as a Competent Person under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hyland is also a Qualified Person under the rules of the Canadian Instrument NI 43 101. Mr Hyland has consented to the inclusion of this information in the form and context in which it appears.
Exploration Results and Exploration Targets
The information in this document relating to Exploration Results and Exploration Targets has been compiled under the supervision of Tom Bartschi, a Member of the Australian Institute of Geoscientists. Mr Bartschi has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and the activities undertaken to qualify as a Competent Person under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bartschi has consented to the inclusion of this information in the form and context in which it appears.
Compliance Statement
With reference to previously reported Exploration results and mineral resources, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parametres underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
About QMines
QMines Limited (ASX:QML) is a Queensland focused copper and gold development Company. The Company owns 100% of the Mt Chalmers (copper-gold) and Develin Creek (copper-zinc) deposits, located within 90km of Rockhampton in Queensland. Mt Chalmers is a high-grade historic mine that produced 1.2Mt @ 2.0% Cu, 3.6g/t Au and 19g/t Ag between 1898-1982.
Following several resource updates, the Mt Chalmers, Develin Creek and Mt Mackenzie projects now have Reserves of 9.6Mt and combined Resources of approximately 20Mt.1 QMines’ objective is to make new discoveries, commercialise existing deposits and transition the Company towards sustainable copper production.
1 ASX Announcement – Develin Creek Resource Upgrade. 23 February 2026
Projects & Ownership
| Mt Chalmers | 100% |
| Develin Creek | 100% |
| Mt Mackenzie | 100% |
QMines Limited ACN 643 312 104
Directors & Management
- Andrew Sparke
Executive Chairman - Peter Caristo
Executive Director (Technical) - Thomas Bartschi
Exploration Manager & Site Senior Executive (Competent Person) - Elissa Hansen
Non-Executive Director & Company Secretary - Richard Wittig
Development Manager
Contacts
- Address
Suite J, 34 Suakin Drive, Mosman NSW 2088 - Phone
+ 61 (2) 8915 6241 - Email
[email protected] - Website
qmines.com.au - Peter Nesvada
Investor Relations
[email protected] - Andrew Sparke
Executive Chairman
[email protected]
View Appendix — Quarterly Cash Flow Report (Appendix 5B)
Appendix 5B – Quarterly Cash Flow Report
Consolidated Statement of Cash Flows
| Consolidated statement of cash flows | Current quarter $A’000 | Year to date (12 months) $A’000 |
|---|---|---|
| 1. Cash flows from operating activities | ||
| 1.1 Receipts from customers | – | – |
| 1.2 Payments for | ||
| (a) exploration & evaluation | (1,416) | (5,696) |
| (b) development | (499) | (762) |
| (c) production | – | – |
| (d) staff costs | (344) | (1,218) |
| (e) administration and corporate costs | (496) | (2,345) |
| 1.3 Dividends received (see note 3) | – | – |
| 1.4 Interest received | 35 | 62 |
| 1.5 Interest and other costs of finance paid | – | (248) |
| 1.6 Income taxes paid | – | – |
| 1.7 Government grants and tax incentives | – | – |
| 1.8 Other (fuel credits) | 39 | 131 |
| 1.9 Net cash from / (used in) operating activities | (2,681) | (10,076) |
| 2. Cash flows from investing activities | ||
| 2.1 Payments to acquire or for: | ||
| (a) entities | – | – |
| (b) tenements | – | – |
| (c) property, plant and equipment | (161) | (607) |
| (d) exploration & evaluation | – | – |
| (e) investments | – | (900) |
| (f) other non-current assets | 6 | 3 |
| 2.2 Proceeds from the disposal of: | ||
| (a) entities | – | – |
| (b) tenements | – | – |
| (c) property, plant and equipment | 28 | 28 |
| (d) investments | – | – |
| (e) other non-current assets | – | – |
| 2.3 Cash flows from loans to other entities | – | – |
| 2.4 Dividends received (see note 3) | – | – |
| 2.5 Other (issue of royalty to QIC) | 10,000 | 10,000 |
| 2.6 Net cash from / (used in) investing activities | 9,873 | 8,524 |
| 3. Cash flows from financing activities | ||
| 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) | 5,000 | 13,943 |
| 3.2 Proceeds from issue of convertible debt securities | – | – |
| 3.3 Proceeds from exercise of options | ||
| 3.4 Transaction costs related to issues of equity securities or convertible debt securities | – | (495) |
| 3.5 Proceeds from borrowings | – | – |
| 3.6 Repayment of borrowings | – | (1,000) |
| 3.7 Transaction costs related to loans and borrowings | – | – |
| 3.8 Dividends paid | – | – |
| 3.9 Other (provide details if material) | – | – |
| 3.10 Net cash from / (used in) financing activities | 5,000 | 12,448 |
| 4. Net increase / (decrease) in cash and cash equivalents for the period | ||
| 4.1 Cash and cash equivalents at beginning of period | 2,208 | 3,504 |
| 4.2 Net cash from / (used in) operating activities (item 1.9 above) | (2,681) | (10,076) |
| 4.3 Net cash from / (used in) investing activities (item 2.6 above) | 9,873 | 8,524 |
| 4.4 Net cash from / (used in) financing activities (item 3.10 above) | 5,000 | 12,448 |
| 4.5 Effect of movement in exchange rates on cash held | – | – |
| 4.6 Cash and cash equivalents at end of period | 14,400 | 14,400 |
5. Reconciliation of cash and cash equivalents
| Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A’000 | Previous quarter $A’000 |
|---|---|---|
| 5.1 Bank balances | 190 | 2,208 |
| 5.2 Call deposits | 14,210 | – |
| 5.3 Bank overdrafts | – | – |
| 5.4 Other (provide details) | – | – |
| 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 14,400 | 2,208 |
6. Payments to related parties of the entity and their associates
| Payments to related parties of the entity and their associates | Current quarter $A’000 |
|---|---|
| 6.1 Aggregate amount of payments to related parties and their associates included in item 1 | 193 |
| 6.2 Aggregate amount of payments to related parties and their associates included in item 2 | – |
Payments made are in relation to consulting fees with Key Management Personnel.
7. Financing facilities
| Financing facilities | Total facility amount at quarter end $A’000 | Amount drawn at quarter end $A’000 |
|---|---|---|
| 7.1 Loan facilities | – | – |
| 7.2 Credit standby arrangements | – | – |
| 7.3 Other (Additional funding under Convertible Note Agreement) | – | – |
| 7.4 Total financing facilities | – | – |
7.5 Unused financing facilities available at quarter end: –
7.6 N/A
8. Estimated cash available for future operating activities
| Estimated cash available for future operating activities | $A’000 |
|---|---|
| 8.1 Net cash from / (used in) operating activities (item 1.9) | (2,681) |
| 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | – |
| 8.3 Total relevant outgoings (item 8.1 + item 8.2) | (2,681) |
| 8.4 Cash and cash equivalents at quarter end (item 4.6) | 14,400 |
| 8.5 Unused finance facilities available at quarter end (item 7.5) | – |
| 8.6 Total available funding (item 8.4 + item 8.5) | 14,400 |
| 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) | 5.37 |
8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Answer: N/A
8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: N/A
Frequently Asked Questions
The following Q&A is AI-generated from the announcement content and is provided as a supplementary reader aid only.
What is the $15 million QIC funding package and what does it mean for QMines?
QMines completed a $15 million strategic funding package with the Queensland Investment Corporation Critical Minerals and Battery Technology Fund (QIC). The package comprises a $5 million equity investment and a $10 million royalty investment. It fully funds the Company’s Definitive Feasibility Study (DFS) and provides a clear pathway towards a Final Investment Decision for the Mt Chalmers Copper and Gold Project.
What were the key drilling results from the Mt Mackenzie program?
The completed 73-hole, 9,798m program returned several significant results. At North Knoll West, highlights included 24m @ 1.19g/t Au and 13.3g/t Ag from 71m (MMRD060), 7m @ 1.89g/t Au and 34.6g/t Ag from 55m (MMRD059), and 12m @ 1.35g/t Au and 8.4g/t Ag from 121m (MMRD061). At the Southern Extension, MMRC024 returned 9m @ 1.17g/t Au and 14.1g/t Ag from 130m. At North Knoll, MMDD011 returned 14m @ 3.04g/t Au and 7.2g/t Ag from 21m.
What is the status of the Mt Chalmers Definitive Feasibility Study?
The DFS is in full swing. During the quarter, DFS consultants were engaged and mobilised across all major workstreams including mine planning and design, waste rock and materials management, geotechnical and hydrogeological assessment, Mineral Resource estimation and audit, geochemical characterisation of waste materials, metallurgical support, product logistics and port studies, stakeholder and community engagement, cultural heritage management, economic impact assessment and environmental approvals. The DFS builds on the August 2024 Pre-Feasibility Study which returned an NPV of $373 million with a 54% IRR on a 10.4 year mine life, generating life of mine revenue of A$1.64 billion.
What drilling is underway at Mt Chalmers after the quarter ended?
Subsequent to quarter end, QMines commenced its largest drilling campaign to date, with more than 10,000m of drilling underway across five programs: Woods Shaft resource drilling (a planned 39-hole, 7,000m program across ten targets); metallurgical diamond drilling (14 holes for 1,500m); geotechnical drilling (6 holes for 538.3m, now complete); slag and waste characterisation drilling (18 holes across three stockpile areas); and in-pit pontoon drilling (12 holes for 1,200m of resource infill drilling beneath the flooded historic pit).
How much cash does QMines have and how long will it last?
Cash and cash equivalents at the end of the June 2026 quarter were $14.4 million. Based on net operating cash outflows of $2,681,000 in the current quarter, the estimated quarters of funding available is 5.37.
What is the current Mineral Resource at Mt Mackenzie and what happens next?
The existing Mt Mackenzie Mineral Resource is 3.4Mt at 1.40g/t Au and 8.4g/t Ag (2.3Mt Indicated at 1.38g/t Au and 1.1Mt Inferred at 1.45g/t Au). Following completion of the maiden 73-hole drilling program, Mineral Resource estimation work has now commenced, with the North Knoll Core representing the most mature area based on grade, geological continuity and drill spacing. The company also plans follow-up drilling including a deeper diamond hole at North Knoll West and oriented diamond drilling at Vein 355.