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An update from QMines Ltd. ( (AU:QML) ) is now available.
QMines has reported bonanza-grade gold and silver assays from diamond drill hole MMDD010 at the Vein355 prospect within its Mount Mackenzie Project in Central Queensland. The hole confirmed a coherent shallow mineralised breccia, including standout intercepts such as 1 metre at 108 grams per tonne gold and 61.9 grams per tonne silver from 11 metres, within broader high-grade zones.
In parallel, the company has reprocessed and applied 3D inversion to historical Induced Polarisation data, significantly sharpening the model of the shallow hydrothermal architecture at Mount Mackenzie. This work has outlined five undrilled near-surface targets across a 1.2 kilometre by 750 metre area and identified two lithocap-style centres plus three sulphide-bearing structural conduits, indicating a much larger high-sulphidation system and supporting potential for substantial expansion of gold and silver mineralisation.
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, with its Mount Mackenzie Project located in Central Queensland. The company targets high-grade precious metal mineralisation and uses geophysical techniques such as Induced Polarisation surveys to refine its understanding of subsurface hydrothermal systems and guide drilling programs.
Average Trading Volume: 2,616,731
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$31.09M
For a thorough assessment of QML stock, go to TipRanks’ Stock Analysis page.