Ten High-Priority Uranium Targets Identified by Antares Metals in Mt Isa
Antares Metals has identified 49 uranium targets within its Mt Isa North Project, highlighting ten as high-priority for imminent exploration. The findings suggest a promising geological setting akin to established uranium deposits nearby.
- 49 uranium targets identified across Mt Isa North Project
- Ten targets ranked as high-priority for ground truthing and drilling
- Shear-hosted albitite mineralisation style similar to Paladin’s nearby deposits
- Queens Gift deposit noted as the top-ranked uranium prospect
- Plans underway for detailed geophysical surveys and potential resource upgrades
Context of the Uranium Prospectivity Review
Antares Metals Ltd (ASX: AM5), formerly known as NickelSearch, has released an updated uranium prospectivity review for its Mt Isa North Project in Queensland. Conducted by geological consultants Riviere Minerals Pty Ltd, the review synthesizes historical exploration data and open-source information to assess the uranium potential across the company’s extensive tenure.
The Mt Isa North Project, spanning over 2,000 square kilometres adjacent to Glencore’s Mt Isa operations, is emerging as a significant uranium exploration frontier. The review identified 49 uranium targets clustered within ten distinct areas, with ten of these ranked as high-priority for immediate follow-up activities.
Geological Significance and Target Characteristics
The principal style of uranium mineralisation identified is shear-hosted albitite, a form of sodium metasomatite-type uranium deposit. This style is notably similar to the uranium clusters at Paladin Energy’s nearby Odin-Valhalla-Skal deposits, which are well-established uranium resources in the region.
Key geological features include N-S trending litho-structural corridors and radiometric anomalies closely associated with the Cromwell metabasalt suite. These corridors host linear structures such as faults and shears that appear to control uranium distribution. The presence of coincident radiometric and magnetic anomalies further supports the prospectivity of these targets.
Priority Targets and Exploration Plans
Among the ten high-priority targets, the Queens Gift uranium deposit stands out as the most advanced prospect. Previously drilled by Deep Yellow Ltd, Queens Gift holds a historical JORC 2004-compliant resource, though Antares cautions that this estimate does not meet the current 2012 JORC standards. The company intends to upgrade this resource to align with modern reporting codes.
Antares plans to commence ground truthing and detailed geophysical surveys during the next field season, focusing initially on the top three or four priority targets. These activities will include soil sampling, radiometric assessments, and potentially drilling to validate and expand the identified uranium mineralisation.
Strategic Implications and Market Positioning
CEO Johan Lambrechts emphasized the strategic importance of the review, stating that the geological setting is highly conducive to hosting major uranium deposits. The company’s methodical approach, leveraging modern exploration techniques, positions Antares Metals to potentially unlock significant value from the Mt Isa North Project.
Given the global interest in uranium as a critical energy resource, especially amid the transition to low-carbon energy sources, Antares’ uranium prospects could attract considerable market attention. The company’s dual focus on copper and uranium exploration in this prolific region further enhances its growth potential.
Bottom Line?
Antares Metals’ uranium targets at Mt Isa North set the stage for a pivotal exploration phase with potential to reshape its resource portfolio.
Questions in the middle?
- How soon will Antares commence drilling on the high-priority uranium targets?
- What are the prospects and challenges in upgrading the Queens Gift resource to JORC 2012 standards?
- Could the Mt Isa North uranium discoveries influence regional uranium supply dynamics?
