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Queensland Mining Corporation intercepts high grade copper at Greenmount  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 05/11/2012

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(MENAFN - ProactiveInvestors - Australia) Queensland Mining Corporation's (ASX: QMN) reverse circulation drilling at the Greenmount Prospect continues to support the geological continuity of the previously reported high grade copper zone.

Significant intercepts include:

- 13 metres at 2.85% copper and 1.05 grams per tonne gold from 110 metres, 4 metres at 5.02% copper and 1.29g/t gold from 117 metres and 2 metres at 5.74% copper and 1.83g/t gold from 155 metres;
- 28 metres at 1.22% copper and 0.19g/t gold from 28 metres; and
- 18 metres at 1.63% copper and 1.03g/t gold from 31 metres.

Deeper holes also continue to intersect significant grades of molybdenum with one hole returning 5 metres at 0.64% molybdenum from 143 metres.

The drilling has identified the development of a broad zone of chalcocite mineralisation below 100 vertical metres not previously recognised in the central part of Greenmount.

Importantly, most of the mineralised intercepts have greater than 1% copper.

Greenmount is located 36 kilometres south of Cloncurry, northwest Queensland.

It forms part of the company's 100% owned White Range copper project and has a current JORC Resource of 12.3 million tonnes at 0.8% copper, 0.06% cobalt and 0.3g/t gold for a total of 98,000 tonnes contained copper metal.

The current drilling is designed to infill the resource and to test continuity of high grade mineralised shoots at the base of, and immediately below, the current resource limits.

Results from the planned additional follow up diamond and reverse circulation drilling is expected over the next two to three months.

 






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