QMines Doubles Drill Program to 20,000m With Barge Assay Results Imminent
Key Takeaways
- QMines has doubled its active drilling campaign from 10,000m to 20,000m across three concurrent programs, driven by exploration success at its Central Queensland copper-gold projects.
- Assay results from the Mt Chalmers barge drilling program — the first drilling directly beneath the historic open pits since 1982 — are now imminent, with eight of 24 planned holes already completed.
- A major 64-hole, 11,360m RC and diamond program commenced at Botos on 9 September 2026, targeting confirmation of historic polymetallic mineralisation including 33m @ 0.80g/t Au, 0.16% Cu, 1.82% Zn, 0.93% Pb and 47g/t Ag from 75m.
- A 39-hole, 7,000m program at Woods Shaft is scheduled to commence shortly, targeting extensions to an existing 0.54Mt copper-gold Mineral Resource located close to the proposed Mt Chalmers processing plant.
- QMines holds a 9.6Mt Ore Reserve at Mt Chalmers and has delivered nine Mineral Resources since listing in May 2021, with a combined resource base now exceeding 21Mt.
QMines doubles drilling program to 20,000m as Mt Chalmers barge results near
QMines Limited (ASX: QML) has elected to double its drilling campaign from 10,000m to 20,000m following encouraging exploration success across its Central Queensland projects. Assay results from the Mt Chalmers barge drilling program, the first drilling directly beneath the historic open pits since 1982, are now imminent. Three concurrent high-impact programs are running in parallel, creating a sustained pipeline of news flow for investors.
The company has delivered nine Mineral Resources since listing in May 2021 and has grown its combined resource base to more than 21Mt.
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Three drilling programs, one strategic vision
The expanded campaign targets a series of copper-gold deposits surrounding QMines’ proposed Mt Chalmers processing hub, a hub-and-spoke development strategy designed to progressively bring satellite deposits into a single centralised mine plan.
Mt Chalmers — barge drilling beneath the historic pits
Diamond drilling commenced from a purpose-built barge on 29 July 2026, with a planned 24-hole, approximately 2,500m program. Eight holes have already been completed and assay results are imminent.
The program is testing whether the copper-gold mineralisation associated with the Main and West Lodes continues beneath the existing open pits and at depth, representing the first time this ground has been drilled since 1982. Successful extension of the mineralised system at depth could potentially establish a new area for future resource growth immediately beneath QMines’ flagship deposit.
The floating drill rig deployment required purpose-built infrastructure to access water-covered ground inside the historic open pits, a logistical challenge that had kept this ground untested for more than four decades.
Botos — targeting the next satellite deposit
QMines commenced a major 64-hole, 11,360m RC and diamond drilling program at Botos on 9 September 2026. The program is designed to confirm the historic Botos deposit and test extensions to known mineralisation, with the objective of potentially establishing an additional Mineral Resource close to the proposed Mt Chalmers processing infrastructure.
Historical drilling at Botos returned broad polymetallic mineralisation, including 33m @ 0.80g/t Au, 0.16% Cu, 1.82% Zn, 0.93% Pb and 47g/t Ag from 75m in BTDDH01. Initial assay results are expected in the coming weeks.
Woods Shaft — expanding an existing copper-gold resource
A 39-hole, 7,000m RC and diamond program at Woods Shaft is scheduled to commence shortly, targeting strike and depth extensions to the existing 0.54Mt copper-gold Mineral Resource. The deposit is located close to the proposed Mt Chalmers processing plant, providing the potential for resource growth to contribute additional feed to the broader development. Initial assay results are expected approximately six to eight weeks following commencement.
| Program | Holes | Metres | Status | Results Timeline |
|---|---|---|---|---|
| Mt Chalmers (barge) | 24 | ~2,500m | Underway (8 holes complete) | Imminent |
| Botos | 64 | 11,360m | Underway (commenced 9 Sep 2026) | Coming weeks |
| Woods Shaft | 39 | 7,000m | Scheduled to commence shortly | ~6–8 weeks post-commencement |
Understanding mineral resources — why more drilling means more value
A Mineral Resource is a concentration of minerals in the earth’s crust with reasonable prospects for eventual economic extraction. When a company drills into the ground, it collects samples that reveal what grades and widths of mineralisation exist at specific points. Enough drill holes across enough ground allows geologists to model the deposit in three dimensions and formally classify it.
The JORC Code, the standard used in Australian mining, classifies resources across three confidence levels. Inferred is the lowest, based on limited drilling where the deposit’s geometry is only broadly understood. Indicated adds more drill data and tighter confidence. Measured is the highest level, where drilling density is sufficient for detailed mine planning.
Moving up the confidence ladder matters to investors for a practical reason: lenders and project financiers typically require Indicated or Measured resources before committing capital to a project. More drilling at Botos and Woods Shaft could potentially convert exploration targets into defined resources, feeding the proposed Mt Chalmers processing hub and expanding the overall mine plan.
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What should investors watch for?
Near-term catalysts are sequenced across the coming weeks and months:
- Mt Chalmers barge assay results (imminent)
- Botos initial assay results (coming weeks)
- Woods Shaft program commencement (shortly) and initial results (approximately 6–8 weeks post-commencement)
- Definitive Feasibility Study (DFS) advancing in parallel
Executive Chairman Andrew Sparke outlined the company’s position:
Andrew Sparke, Executive Chairman
“The decision to double our current drilling campaign reflects the exploration success we are seeing and the number of compelling targets now in front of us.
“Most immediately, shareholders can look forward to the first results from our highly anticipated Mt Chalmers barge drilling program. We are drilling directly beneath the historic pits for the first time since 1982, testing whether the Mt Chalmers copper-gold system continues at depth.
“These results are now imminent and represent the first of what we expect will be a sustained period of exploration news flow.
“At the same time, we have commenced a major 11,360-metre program at Botos and are preparing to commence a further 7,000 metres of drilling at Woods Shaft. Both programs are targeting deposits located close to our proposed Mt Chalmers processing infrastructure.
“We have already delivered nine Mineral Resources since listing, and our exploration strategy remains straightforward. Continue drilling, grow our resources and progressively bring additional deposits into the Mt Chalmers mine plan.
“With the DFS advancing in parallel, we believe the next several months have the potential to be an important period for QMines and its shareholders.”
For context on the portfolio underpinning this activity, QMines holds Ore Reserves of 9.6Mt at Mt Chalmers, detailed below.
| Reserve Category | Tonnes (Mt) | Cut Off (% Cu) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | S (%) |
|---|---|---|---|---|---|---|---|
| Proved | 5.1 | 0.3% | 0.72 | 0.58 | 0.25 | 4.70 | 5.80 |
| 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 |
With nine Mineral Resources delivered since the May 2021 listing and a combined resource base now exceeding 21Mt, the expanded 20,000m drilling campaign sets up a concentrated sequence of results across three programs over the coming months.
For readers wanting to understand how the development study is progressing alongside the drilling, our detailed coverage of the Mt Chalmers DFS process outlines the seven specialist firms engaged, the workstreams underway, and the timeline toward a completed feasibility study.
Ready to Explore QMines’ 20,000m Drilling Campaign at Mt Chalmers?
With barge assay results imminent and two further programs targeting Botos and Woods Shaft, QMines is entering what could be one of its most active periods of exploration news flow since listing in 2021. The hub-and-spoke strategy surrounding the proposed Mt Chalmers processing facility is designed to progressively convert drilling success into defined resources and mine plan growth.
Investors seeking a deeper understanding of the portfolio and development timeline can explore the QMines project profile on Discovery Alert for the latest updates on the copper-gold opportunity unfolding across Central Queensland.