Antares Metals Reports High-Grade Copper Drills and Updates Uranium Resource
Antares Metals has released an updated investor presentation detailing its Queens Gift Project's historical resource and highlighting promising copper and uranium exploration targets in the prolific Mt Isa region.
- Replacement presentation completes JORC 2004 resource details for Queens Gift uranium project
- Recent high-grade copper-gold drill results at Surprise Project extend known mineralisation
- New intrusion-related copper targets identified at Conglomerate Creek
- Calton Hills shows potential for a large hydrothermal copper system
- Queens Gift uranium resource open for expansion near Paladin Energy’s Valhalla deposit
Context and Compliance Update
Antares Metals Limited (ASX – AM5) has issued a replacement investor presentation to provide a more complete and compliant disclosure of its Queens Gift Project’s mineral resource estimate, originally reported under the older JORC 2004 code. This update ensures alignment with ASX Listing Rule 5.13 requirements and includes cautionary notes on the historical nature of the resource data.
The Queens Gift uranium resource, estimated at 1.7 million pounds of U3O8 at 330 ppm, remains a key asset within Antares’ portfolio, although it awaits reclassification under the current JORC 2012 standards. The company stresses that further exploration will be necessary to confirm and potentially upgrade this resource.
Exploration Highlights in the Mt Isa Region
Antares is actively advancing several copper and uranium targets across its extensive Mt Isa North tenure, a region renowned for world-class mineral deposits. The Surprise Project has delivered encouraging recent drill results, including intercepts such as 11 meters at 1.8% copper and 1.3 grams per tonne gold, confirming high-grade mineralisation and extending known zones.
Beyond Surprise, the Conglomerate Creek prospect has emerged as a significant intrusion-related copper target, with geophysical surveys revealing seven high-priority coincident gravity and magnetic anomalies. This area, historically underexplored, offers substantial discovery potential, supported by surface copper mineralisation and geochemical anomalies.
Meanwhile, Calton Hills is interpreted as a large hydrothermal copper system, with soil anomalies and rock chip samples indicating copper, zinc, lead, and silver mineralisation. The company plans to deploy advanced geophysical techniques and drilling to test these targets further.
Strategic Positioning Near Major Uranium Deposits
Antares’ Queens Gift Project sits strategically along strike from Paladin Energy’s Valhalla uranium deposit, Australia’s third-largest uranium resource. This proximity underscores the potential for significant uranium discoveries within Antares’ tenure. Rock chip assays and drilling have returned uranium grades up to 2.86% U3O8 and intervals with elevated uranium concentrations, reinforcing the prospectivity of the portfolio.
The company’s exploration strategy leverages modern geophysical and geochemical methods to refine targets and guide drilling campaigns, aiming to unlock value from both copper and uranium assets in this prolific mineral province.
Experienced Leadership and Capital Structure
Antares’ board and management team bring decades of combined experience in mining leadership, geology, and corporate finance, positioning the company to execute its exploration plans effectively. With a market capitalisation of approximately $4.1 million and a cash position of around $2.1 million as of March 2025, Antares is capitalised to advance its drilling programs and technical studies.
The company also maintains a diverse shareholder base, including institutional investors and management, supporting its growth ambitions in the Mt Isa region.
Bottom Line?
As Antares Metals advances drilling and resource validation, the Mt Isa region could witness a new wave of copper and uranium discoveries shaping the company’s future trajectory.
Questions in the middle?
- Will Antares successfully upgrade the Queens Gift resource to JORC 2012 standards?
- How will upcoming drilling results at Conglomerate Creek and Calton Hills influence project valuations?
- What strategic partnerships or capital raises might Antares pursue to accelerate exploration?
