QMines (ASX:QML) has launched a diamond drilling campaign beneath the historic Mt Chalmers open pit. The program marks the first time the company has successfully accessed the area directly below the flooded mine workings, which were previously unreachable from conventional land-based positions. By deploying a purpose-built floating drilling platform, the company is now testing depth extensions to the Mt Chalmers deposit and aims to upgrade the confidence of existing mineral resources.

The drilling initiative is a core component of the company’s broader 10,000-metre campaign and is currently supporting an ongoing Definitive Feasibility Study (DFS). The program focuses on replacing older percussion drilling data with modern diamond core samples. This technical upgrade is expected to enhance geological confidence, potentially allowing for the conversion of Inferred Mineral Resources into Ore Reserves, which could extend the mine’s planned life.

The operational success of the pontoon-based drilling program relies on a specialized setup designed to navigate the unique challenges of the pit lake. With the first core already recovered, QMines expects a steady flow of results over the coming months as the campaign progresses. This work is essential for finalizing the project’s technical parameters and refining the mine plan currently being assessed in the DFS.

"This is one of the most exciting drilling programs we've undertaken at Mt Chalmers because it has the potential to create value in two ways."

"Importantly, this is only the beginning. The Company is already making plans to mobalise another drilling rig to Woods Shaft where we'll be targeting additional resource growth as part of our broader 10,000 metre drilling campaign."

— Andrew Sparke, Executive Chairman

Looking ahead, the company is positioning itself for a period of sustained activity. Following the completion of the current program at the pit, the drilling infrastructure is set to transition to the Woods Shaft deposit. This upcoming work represents a significant expansion of the company’s regional exploration efforts, keeping the project’s development timeline at the forefront of the company’s near-term objectives. Management remains focused on leveraging these drilling milestones to mature the asset toward a final production decision. The ongoing commitment to drilling, combined with the technical rigor of the current DFS, serves as the primary driver for potential project value as the company moves through its development milestones.

Read the full announcement: Resource Growth Drilling Beneath Mt Chalmers Open Pit