QMines lands 24c share price target as Mt Chalmers copper opportunity grows
Original announcement by stockhead on
- Company
- QMines
- Ticker
- QML
- Exchange
- Unavailable
- Region
- Unavailable
- Primary commodity
- Copper
- Secondary commodities
- Gold, Zinc, Silver
- Document categories
- Drill results, Resource update
- Extracted
- 2026-09-30 01:03:13 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
QMines is advancing its Mt Chalmers copper-gold project through a definitive feasibility study, supported by a 9.6Mt ore reserve. Recent drilling has returned high-grade copper-gold intercepts, and the company is exploring regional expansion through satellite deposits like Develin Creek and Mount Mackenzie.
Reasoning: The document reports strong recent drill results and highlights significant resource/reserve scale across multiple projects in a regional cluster, supported by a positive analyst price target.
Positive factors
- Strong drill intercepts reported
- Significant reserve-backed core value at Mt Chalmers
- Regional expansion optionality via Develin Creek and Mount Mackenzie
- Fully funded DFS in progress
Facts used in scoring: 9
Classification and evidence
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: 4.18% Cu is an exceptionally high grade for this project type.
Evidence · text
“7m at 4.18% copper”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Develin Creek resource is reported as 90% Indicated.
Evidence · text
“4.70Mt copper-zinc mineral resource that is about 90% Indicated”
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Drill Results (5)
Fact 1Mt Chalmers · copperGrade: 2.88Grade Unit: %Intercept: 35 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mt Chalmers
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- QML
Geometry
- Grade
- 2.88
- Grade Unit
- %
- Intercept
- 35 m
- From
- 107 m
- To
- 142 m
- Intercept Depth
- 107 m
Classification
- Sample Type
- drill
- Group ID
- Mt_Chalmers:107-142
QA/QC
- QA/QC Disclosed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 2.88% Cu is a strong intercept for a copper project.
Positive factors
- Strong copper grade
Evidence · text
“35m at 2.88% copper and 0.75g/t gold from 107m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2Mt Chalmers · goldGrade: 0.75Grade Unit: g/tIntercept: 35 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mt Chalmers
- Commodity
- gold
- Region
- argentina
- Reported Region
- argentina
- Ticker
- QML
Geometry
- Grade
- 0.75
- Grade Unit
- g/t
- Intercept
- 35 m
- From
- 107 m
- To
- 142 m
- Intercept Depth
- 107 m
Classification
- Sample Type
- drill
- Group ID
- Mt_Chalmers:107-142
QA/QC
- QA/QC Disclosed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 0.75 g/t Au accompanies a strong copper intercept.
Positive factors
- Co-occurring gold grade
Evidence · text
“35m at 2.88% copper and 0.75g/t gold from 107m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 3Mt Chalmers · copperGrade: 1.99Grade Unit: %Intercept: 32 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mt Chalmers
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- QML
Geometry
- Grade
- 1.99
- Grade Unit
- %
- Intercept
- 32 m
- From
- 138 m
- To
- 170 m
- Intercept Depth
- 138 m
Classification
- Sample Type
- drill
- Group ID
- Mt_Chalmers:138-170
QA/QC
- QA/QC Disclosed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 1.99% Cu is a strong intercept.
Positive factors
- Solid copper grade
Evidence · text
“32m at 1.99% copper and 0.39g/t gold from 138m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 4Mt Chalmers · goldGrade: 0.39Grade Unit: g/tIntercept: 32 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mt Chalmers
- Commodity
- gold
- Region
- argentina
- Reported Region
- argentina
- Ticker
- QML
Geometry
- Grade
- 0.39
- Grade Unit
- g/t
- Intercept
- 32 m
- From
- 138 m
- To
- 170 m
- Intercept Depth
- 138 m
Classification
- Sample Type
- drill
- Group ID
- Mt_Chalmers:138-170
QA/QC
- QA/QC Disclosed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 0.39 g/t Au is a modest grade.
Evidence · text
“32m at 1.99% copper and 0.39g/t gold from 138m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 5Mt Chalmers · copperGrade: 4.18Grade Unit: %Intercept: 7 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mt Chalmers
- Commodity
- copper
- Region
- argentina
- Reported Region
- argentina
- Ticker
- QML
Geometry
- Grade
- 4.18
- Grade Unit
- %
- Intercept
- 7 m
Classification
- Sample Type
- drill
QA/QC
- QA/QC Disclosed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 4.18% Cu is an exceptional grade for this project type.
Positive factors
- High grade intercept
Evidence · text
“including 7m at 4.18% copper”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (4)
indicatedDevelin Creek · copperTonnes: 4700000View all detailsHide details
Identity
- Project
- Develin Creek
- Commodity
- copper
- Ticker
- QML
Resource scope
- Estimate type
- resource
- Resource group id
- resource:3a7d3c563759ef33b033
Resource Data
- Category
- indicated
- Tonnes
- 4700000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: 90% Indicated resource at Develin Creek.
Positive factors
- High confidence category
Evidence · text
“Develin Creek ... with a 4.70Mt copper-zinc mineral resource that is about 90% Indicated”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedDevelin Creek · zincTonnes: 4700000View all detailsHide details
Identity
- Project
- Develin Creek
- Commodity
- zinc
- Ticker
- QML
Resource scope
- Estimate type
- resource
- Resource group id
- resource:3a7d3c563759ef33b033
Resource Data
- Category
- indicated
- Tonnes
- 4700000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Zinc is a secondary commodity in the Develin Creek resource.
Evidence · text
“Develin Creek ... with a 4.70Mt copper-zinc mineral resource that is about 90% Indicated”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedMount Mackenzie · goldTonnes: 5220000Grade: 1.01Grade Unit: g/tContained Metal: 170000Contained Unit: ozView all detailsHide details
Identity
- Project
- Mount Mackenzie
- Commodity
- gold
- Ticker
- QML
Resource scope
- Estimate type
- resource
- Resource group id
- resource:a554f3ecece6c10d62ff
Resource Data
- Category
- indicated
- Tonnes
- 5220000
- Grade
- 1.01
- Grade Unit
- g/t
- Contained Metal
- 170000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Mount Mackenzie provides a separate gold-growth option.
Positive factors
- Significant gold resource
Evidence · text
“Mount Mackenzie ... mineral resource stands at 5.22Mt at 1.01g/t gold ... for about 170,000oz of gold”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
indicatedMount Mackenzie · silverTonnes: 5220000Grade: 6.7Grade Unit: g/tContained Metal: 1.12Contained Unit: mozView all detailsHide details
Identity
- Project
- Mount Mackenzie
- Commodity
- silver
- Ticker
- QML
Resource scope
- Estimate type
- resource
- Resource group id
- resource:a554f3ecece6c10d62ff
Resource Data
- Category
- indicated
- Tonnes
- 5220000
- Grade
- 6.7
- Grade Unit
- g/t
- Contained Metal
- 1.12
- Contained Unit
- moz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Silver is a significant byproduct at Mount Mackenzie.
Positive factors
- Significant silver resource
Evidence · text
“Mount Mackenzie ... mineral resource stands at 5.22Mt at 1.01g/t gold and 6.7g/t silver for ... 1.12Moz of silver”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.