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QMines Ltd. ( (AU:QML) ) has provided an announcement.
QMines has reported the observation of visible gold in diamond core from hole MMDD010 at the Vein 355 prospect within its Mount Mackenzie gold and silver project in Central Queensland. The mineralisation is hosted in vuggy, strongly oxidised volcanic breccia with silica veinlets and oxidised sulphides, pointing to a highly permeable breccia horizon consistent with an epithermal vein setting.
The company has prioritised adjacent fractured and rubbly intervals in the same hole for rush assaying, with nine holes now completed at Vein 355 and further drilling under way to test continuity along strike. While no assay results are yet available, the early visual evidence of gold supports the geological model and, if confirmed by laboratory data, could enhance the project’s high-grade potential and inform future exploration strategy.
The most recent analyst rating on (AU:QML) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on QMines Ltd. stock, see the AU:QML Stock Forecast page.
More about QMines Ltd.
QMines Ltd. is an Australian exploration company focused on gold and silver projects in Central Queensland. Its key assets include the Mount Mackenzie project, where the company is targeting high-grade epithermal-style mineralisation to expand its resource base and strengthen its position in the precious metals sector.
Average Trading Volume: 2,618,076
Technical Sentiment Signal: Sell
Current Market Cap: A$35.62M
Learn more about QML stock on TipRanks’ Stock Analysis page.