QMines Limited’s Sulphide City Drilling Uncovers Robust Copper-Zinc Grades, Paving Way for 2Mtpa Multi-Asset Growth in Queensland
Tuesday, August 12, 2025
at
8:42 am
QMines Limited reports robust drilling results at its Sulphide City deposit, revealing broad, high-grade copper-zinc intersections. These encouraging assays bolster near-term resource growth and support the firm’s vision for an expanded, integrated mining operation backed by multiple rigs and promising future studies.
QMines Limited has reported robust drilling results from its Sulphide City deposit at the Develin Creek project in Queensland. The multi‐rig program, which has completed 32 reverse circulation holes totaling 6,643m at Sulphide City, continues to underline strong, continuous high-grade copper and zinc intersections. Notable drill results include a 25m intersection at 1.51% copper equivalent (CuEq) that features a standout 4m segment at 6.79% CuEq; another drillhole showed a 44m interval grading 1.41% CuEq with a high‐grade subintersection of 7m at 2.63% CuEq, while further holes returned intersections of 6m at 2.62% CuEq and 7m at 2.46% CuEq. These technical indicators reinforce the presence of thick, continuous mineralised zones that extend beyond historic drilling limits, underpinning near-term resource growth and improved mine planning.
Management expressed strong confidence in the program, emphasizing that the consistent high-grade results align with historic data and support the Company’s broader vision to integrate the Develin Creek feed with the existing Mt Chalmers and Mt Mackenzie operations. The project, which will see further diamond drilling to test high-grade zones at depth, is an integral part of a strategy that envisions long-life, 2Mtpa production by blending various regional projects. The Company also provided details on its copper equivalent calculation methodology, referencing metal price assumptions (copper at US$9,000 per ton, zinc at US$2,800 per ton, gold at US$3,300 per ounce, and silver at US$37 per ounce) and metallurgical recoveries, which support the potential to recover and sell all metals included in the CuEq figures.
Looking ahead, QMines Limited plans to expand its drilling efforts with further assay results pending and ongoing underground and open pit optimisation studies. Additionally, a combined scoping study and an updated pre-feasibility study are scheduled to refine economic parameters and integrate the operational plans from Mt Chalmers, Develin Creek, and Mt Mackenzie. These upcoming milestones are expected to provide further clarity on the feasibility and potential expansion of a multi-asset operation.
The news carries a largely bullish sentiment for traders. The continuity and strength of mineralisation, positive management commentary, and clear pathway toward a more integrated, high-throughput operation point to an encouraging outlook for QMines Limited. However, there are aspects that might trigger a bearish perspective, including pending assay results from some drillholes, ongoing metallurgical tests that remain critical to ore blending strategies, and the technical challenges associated with underground optimisation which could delay near-term economic forecasts. Overall, the announcement reinforces optimism about the project’s growth potential while acknowledging the inherent risks typical of early-stage mining exploration.