You don’t find a big VMS, they get big

I was chatting with a fellow investor at Noosa, who wasn't aware how VMS deposits tend to cluster, So I put this primer together

VMS Camps: Why One Intercept Is Only the Opening Move

Volcanogenic Massive Sulphide (VMS) systems seldom occur as isolated ore bodies. They originate from long‑lived submarine hydrothermal cells that re‑activate the same volcanic‑rift architecture repeatedly, depositing discrete sulphide lenses over tens to hundreds of millennia. Mature VMS districts often contain between four and twenty individual deposits, with an average of twelve per camp. The implication is clear: the likelihood of finding a second lens near the first discovery is significantly higher than that of finding one at random.

Karl Simich, in reference to Sandfire Resources’ DeGrussa mine, put it well: “No one finds a big VMS; they get big.”

That phrase reflects two realities. First, VMS deposits almost always occur in clusters. Second, initial resources usually capture only a fraction of the total potential. Step‑out drilling, down‑plunge extensions, and follow‑up geophysics often reveal additional lenses that build into a camp‑scale system. Most of the world’s great VMS assets were not found fully formed, they evolved through systematic exploration over time.

The Geological Mechanics Behind Clustering

VMS clustering is not random. It’s the product of persistent geological processes:

• Sustained heat flow keeps the hydrothermal system active long enough for multiple episodes of sulphide deposition.

• Structural re‑activation along syn‑volcanic faults repeatedly focuses fluid flow into the same zones.

• Favourable basin architecture preserves successive sulphide accumulations in protected topographic lows, allowing lenses to be stacked or distributed closely together.

Why This Matters Strategically

Once a single VMS lens is confirmed, the highest‑value exploration spend is often within a five‑kilometre radius. Chasing conceptual regional targets before the immediate area is exhausted ignores both the science and the statistics. Modern exploration techniques — including high‑powered EM, deep IP surveys, portable spectral mineralogy, and geochemical vectoring, can be focused to test the most probable extensions or parallel structures.

A Relevant Australian Case: QMines Ltd

QMines Ltd (ASX: QML) offers a compelling example of the VMS camp thesis in action. The company controls two separate and distinct VMS camps in Central Queensland:

• Mt Chalmers, east of Rockhampton, a classic Kuroko-style system with documented stringer, semi‑massive, and exhalite zones — textbook VMS architecture.

• Develin Creek, approximately 90 kilometres to the north‑west, with multiple copper‑zinc lenses hosted in volcanic rocks, again consistent with true VMS genesis.

By advancing both camps in parallel, QMines is not simply exploring; it is de‑risking its geological model across an entire corridor. Each intercept at Mt Chalmers validates the system logic at Develin Creek and vice versa. It is a portfolio-level approach to camp-scale mineral systems, and it significantly compounds the upside potential.

The Takeaway

Your first VMS intercept is not the finish line, it’s the starting gun. The geology supports it. The statistics confirm it. And modern examples like QMines make it obvious: persistence, when guided by the right model, pays dividends in VMS terrain. Treat that first lens as proof of a larger system, not a standalone anomaly.