Skevi Drilling Yields 7m at 0.12% U3O8; U4A Shows 289 ppm Uranium and High Thorium

Exploration Breakthrough at Mt Isa North

Antares Metals Limited (ASX, AM5) has unveiled encouraging high-grade uranium results from its Mt Isa North Copper and Uranium Project in Queensland. The company’s recent fieldwork and historical data review have spotlighted the Skevi and U4A prospects as key uranium targets, reinforcing the region’s potential as a significant uranium province.

The Skevi prospect, previously explored by Regalpoint Resources, boasts historical rock chip assays reaching as high as 0.56% U3O8 (5,584 ppm) and drilling intercepts including 7 metres at 0.12% U3O8 and 3 metres at 0.25% U3O8. These results confirm the presence of structurally controlled uranium mineralisation within the Eastern Creek Volcanics, extending over a strike length potentially exceeding 1,200 metres under cover.

New Frontiers at U4A Prospect

In contrast, the U4A prospect represents a fresh exploration frontier with no prior historical data. Antares’ initial sampling has revealed uranium concentrations up to 289 ppm U3O8 alongside exceptionally high thorium values reaching 2,169 ppm. This thorium anomaly is notably elevated compared to regional averages, suggesting a unique geochemical signature that warrants further investigation to understand its implications for uranium mineralisation.

Both Skevi and U4A share geological and structural traits with the nearby Valhalla uranium deposit, owned by Paladin Energy, which hosts Australia’s third-largest uranium resource. This comparison underscores the strategic significance of Antares’ portfolio within a proven uranium district.

Advancing Towards Maiden Drilling

Alongside Skevi and U4A, the Queens Gift prospect remains a high priority, featuring historical drill intercepts such as 4 metres at 2,298 ppm U3O8 and 23 metres at 746 ppm U3O8. Antares is preparing for maiden uranium drilling programs aimed at delineating these targets further and advancing towards resource definition.

Chief Executive Officer Johan Lambrechts expressed optimism about the uranium potential complementing the company’s copper exploration efforts, highlighting the importance of these results in shaping future exploration strategies.

Strategic Implications and Next Steps

Antares’ identification of 49 priority uranium targets across its tenure, combined with these promising assay results, positions the company well within the competitive uranium exploration landscape. The planned ground-truthing and drilling campaigns will be critical in validating the scale and grade continuity of mineralisation, with particular attention to the unusual thorium enrichment at U4A.

As exploration progresses, the company’s proximity to Paladin Energy’s Valhalla deposit adds a layer of strategic context, potentially enhancing the value proposition of Antares’ Mt Isa North project.