QMINES announces strategic tenement acquisition

QMines Limited (ASX:QML) has announced the acquisition of a new strategic tenement (EPM 29043) over the Striker prospect, consolidating its district scale package. The tenement covers highly ranked VTEM anomaly with robust Cu-Pb-Zn soil anomaly. Historical drilling ended in mineralisation, including significant intercepts such as 18m @ 0.88% Zn and 45m @ 0.48% Zn. The Striker geological setting is similar to the Mt Chalmers deposit.

Executive commentary on the strategic tenement acquisition

QMines Executive Chairman Andrew Sparke expressed excitement about the strategic tenement acquisition, highlighting the intense sulphide mineralisation, favorable geology, and strong geochemical and geophysical support. He emphasized the clear case for drilling this target now that the tenement has been granted.

Summary of QMINES' strategic tenement acquisition

QMines' acquisition of the strategic tenement over the Striker prospect presents an opportunity to explore and test robust multi-element soil geochemical anomalies. The company's VTEM geophysical survey identified an excellent chargeability anomaly coincident with the target, indicating the potential for a Mt Chalmers style deposit. With plans for reconnaissance work and a drilling program, QMines aims to further explore the northwest-trending alteration and mineralisation zones in the search for VHMS-style deposits. The company's objective is to make new discoveries, commercialize existing deposits, and transition towards sustainable copper production.