Qmines Ltd (ASX:QML) Visible Gold Spotted in Mount Mackenzie Drill Core
26 February 2026
Price Sensitive Announcement $
Highlights:
- Visible gold logged in diamond core in hole MMDD010 (11m to 12m) at a prospect called Vein 355 at the high-grade Mount Mackenzie gold and silver project;
- Mineralisation hosted in vuggy, strongly oxidised volcanic breccia with remnant silica veinlets and oxidised sulphide relics, consistent with a high permeability breccia;
- Priority intervals adjacent to the visible gold (12m to 21m) is locally fractured/rubbly and displays the same breccia and silica veinlet style;
- Follow up drilling underway with eight additional holes planned and drilling continuing along strike to test continuity and corridor geometry; and
- Nine holes now complete at Vein 355 with all assays sent to the laboratory and placed on “rush” with first results expected shortly.
Overview:
QMines Limited advises that visible gold has been observed in intact diamond core from hole MMDD010 (11m to 12m) at the Vein 355 prospect within the Mount Mackenzie Project in Central Queensland. The observation occurs within a vuggy oxidised volcanic breccia containing silica veinlets and oxidised sulphides.
Additional intervals in hole MMDD010, including 12m to 13m and 20m to 21m, have been prioritised for rush assaying based on geological logging, noting the core is locally rubbly and highly fractured in parts.
No assay results are reported in this release. QMines will report laboratory results once received and released following QAQC and geological interpretation.
Management Comments:
Exploration Manager, Tom Bartschi, commented:
“Visible gold in intact core from hole MMDD010 (11m to 12m) confirms that mineralising fluids accessed a highly permeable breccia horizon at Vein 355. The observation is hosted by vuggy, strongly oxidised volcanic breccia with remnant silica veinlets and oxidised sulphides, consistent with an epithermal vein breccia setting within the Mount Mackenzie system.
Given the shallow position within the oxidised profile, QMines will assess whether the interval reflects primary mineralisation exposed by oxidation and or local supergene redistribution and
residual concentration, once assays and QAQC validation are complete.”
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