QMines reports up to 256g/t gold near Mt Chalmers project in QLD
Results are from historical rock chip data at Cawarral and Mt Wheeler goldfield
Company plans to undertake first pass drilling
Special Report: QMines has found bonanza grade gold rock chip samples up to 256g/t at the Cawarral and Mt Wheeler goldfield near its Mt Chalmers project in QLD.
The Cawarral and Mt Wheeler goldfield is an underexplored regional gold target that forms part of the company’s Mt Chalmers copper and gold project.
These bonanza grade samples were identified from a review of historic data, with results including:
256.00g/t gold
157.00g/t gold
89.40g/t gold
80.95g/t gold; and
156.00g/t gold
The project lies just 6km north-north-east of the historic Mt Chalmers mine, and results collected by previous explorers also include a stunning find of 3m at 154g/t Au at Cawarral in RC hole MWC07.
Notable small scale historical high-grade gold production at the goldfield includes:
2,973oz at 62g/t gold from the Galawa Mine
9,098oz at 37g/t gold from the Annie mine; and
3,900oz at 42g/t gold from the Last Chance mine.
Located 17km north of Rockhampton, the historic gold domain has been tested by a slew of companies, with its exploration potential identified by some of the world’s biggest miners, including Geopeko, Newmont Holdings, Zhong Haa Mining, Outokumpu Exploration, Marlborough Gold Mines and CRA Exploration.
CRA and Newmont, of course, are previous iterations of mining giants Rio Tinto and Newmont Corporation, the latter the world’s biggest gold producer.
Economic project potential
Overall, the Cawarral, Mount Wheeler and Constitution Goldfields have had little modern exploration, and QMines (ASX:QML) believes that previous drill programs did not remotely test the area.
QML believes there is significant potential for the discovery of an economic gold deposit with further exploration drilling.
Pic: Mount Wheeler, Cawarral and Constitution Hill Goldfields. Source: QML.
QML will now continue to compile the rock chip data and undertake field reconnaissance to gain a better understanding of the gold potential and the controls on mineralisation.
Following this, the company plans to commence first pass drilling on completion of the planned Develin Creek and Artillery Road drilling programs.
Prospects identified in historic exploration will represent immediate drill targets, a boost for any junior explorer.
This drill program would assess the potential of the area to host an economic high-grade gold deposit, which would further enhance the economics of the Mt Chalmers copper and gold project.
This article was developed in collaboration with QMines, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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