High-Grade Copper-Zinc Drilling Results Bolster QMines' Multi-Asset Development Strategy
QMines Limited (ASX:QML) continues to deliver exceptional drill results at its Sulphide City deposit, part of the broader Develin Creek project, with multiple thick, high-grade copper intersections confirming the potential for significant resource growth and development.
Latest Drilling Highlights Consistent High-Grade Zones
The latest assay results from QMines' ongoing drilling program at Sulphide City showcase impressive copper-zinc intercepts, including:
- 4m @ 6.79% CuEq from 125m, within 25m @ 1.51% CuEq from 104m
- 7m @ 2.71% CuEq from 59m, within 44m @ 1.41% CuEq from 59m
- 20m @ 1.74% CuEq from 177m, within 65m @ 0.9% CuEq from 132m
- 6m @ 2.62% CuEq from 91m
- 7m @ 2.46% CuEq from 165m
These results come from a multi-rig drilling campaign that has now completed 32 RC holes totaling 6,643 meters at Sulphide City, with a further 15 holes awaiting assay results at the laboratory.
"These latest results from Sulphide City are exactly what we want to see — thick, continuous zones of high-grade copper and zinc, in line with historical intercepts. Every round of assays adds to our confidence that Develin Creek is shaping into a cornerstone asset in QMines' growing production pipeline," said QMines Executive Chairman Andrew Sparke.
Advancing a Multi-Asset Copper Strategy
The consistent high-grade results at Sulphide City reinforce QMines' integrated development strategy across its three Queensland projects. The company is working toward a potential 2Mtpa operation blending feed from Develin Creek with the Mt Chalmers and Mt Mackenzie projects in Central Queensland.
Diamond drilling has now commenced at Sulphide City to better understand the geometry of the massive and semi-massive sulphide mineralisation, which will refine geological models and test high-grade copper intersections at depth.
Develin Creek Project Overview
The Develin Creek project hosts several Volcanic Associated Massive Sulphide (VMS) copper-zinc deposits within the Rookwood Volcanics. Petrological studies confirm the mineralisation is an overprinted hydrothermally altered sedimentary breccia with Cu-Zn massive and semi-massive sulphide mineralisation associated with submarine basaltic volcanism, potentially showing affinities to Besshi and Cyprus style VMS mineral deposits.
In March 2025, QMines delivered an updated Mineral Resource Estimate (MRE) for the project totaling 4.13Mt @ 1.01% Cu, 1.16% Zn, 0.15g/t Au and 6.0g/t Ag, with 56% in the Inferred category and 44% in the Indicated category.
Understanding Volcanic Massive Sulphide (VMS) Deposits
VMS deposits like those found at Develin Creek are important sources of copper, zinc, lead, gold, and silver worldwide. These deposits form through hydrothermal processes on the seafloor, where metal-rich fluids precipitate as sulphide accumulations.
For investors, VMS deposits present several advantages:
- Polymetallic nature: They typically contain multiple valuable metals
- Clustering tendency: They often occur in groups, creating district-scale opportunities
- High-grade potential: They can provide concentrated ore suitable for economic extraction
- Predictable processing: They have well-understood metallurgical characteristics
At Sulphide City, the deposit geology differs somewhat from the nearby Scorpion and Window deposits. The massive sulphide bodies reach thicknesses of up to 30m and display brecciated and stratiform textures with sharp contacts with surrounding altered basaltic sequences. The primary sulphide assemblage includes chalcopyrite, sphalerite, pyrite, and minor galena.
Growth Strategy and Upcoming Catalysts
QMines Ltd high-grade copper zinc results have helped outline several near-term milestones that will advance its development strategy:
- Ongoing Drilling Results: Additional assays from the remaining 15 holes at Sulphide City
- Pit Optimisation Study: Results expected in August for the Scorpion deposit
- Metallurgical Testwork: PFS-level work continuing on blending material from multiple deposits
- Scoping Study: Evaluating the combined projects' economic parameters
- Underground Optimisation: Assessing potential for underground mining at Sulphide City
- Updated Pre-Feasibility Study: Scheduled for first half of 2026, incorporating an expanded 2Mtpa operation
QMines' Growing Resource Base
QMines now controls substantial copper and precious metals resources across its Queensland projects:
- Mt Chalmers: 9.6Mt @ 0.65% Cu, 0.48g/t Au, 0.27% Zn, 5.2g/t Ag (Ore Reserve)
- Mt Chalmers: 11.3Mt @ 0.75% Cu, 0.42g/t Au, 0.23% Zn, 4.6g/t Ag (Mineral Resource)
- Develin Creek: 4.2Mt @ 1.01% Cu, 1.16% Zn, 0.15g/t Au, 6.0g/t Ag (Mineral Resource)
- Mt Mackenzie: 3.2Mt @ 1.40g/t Au, 8.4g/t Ag (Mineral Resource)
- Woods Shaft: 0.54Mt @ 0.50% Cu, 0.95g/t Au (Mineral Resource)
Why Investors Should Take Note
QMines Ltd high-grade copper zinc results represent a compelling investment opportunity in the copper sector for several reasons:
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Production Pipeline: With Ore Reserves already established at Mt Chalmers and resource growth continuing at Develin Creek, QMines is building a clear path to production.
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Copper Market Fundamentals: The global transition to renewable energy and electrification is driving increasing demand for copper, with supply constraints creating favourable pricing dynamics.
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Multi-Asset Strategy: QMines' approach of blending feed from multiple deposits creates operational flexibility and potentially extends mine life.
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Queensland Location: The company's projects benefit from excellent infrastructure in a premier mining jurisdiction, with proximity to power, water, roads, and ports.
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Exploration Upside: Ongoing drilling continues to expand known resources, while major gold-copper discoveries in the region highlight additional growth potential.
The QMines Ltd high-grade copper zinc results reported from Sulphide City form part of a broader resource development strategy. As the company progresses toward its goal of establishing a 2Mtpa copper-gold-zinc operation in Central Queensland, investors should monitor further drilling results, technical studies, and joint venture opportunities that will enhance the project's economics and bring QMines closer to production. Furthermore, in the current market where compulsory acquisitions are becoming more common in the resources sector, companies with defined high-grade resources like QMines may attract strategic interest.
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