Antares Metals’ Uranium Prospects Near Paladin’s Valhalla Face Critical Drill Test

Exploration Breakthroughs at Mt Isa North

Antares Metals Limited (ASX, AM5) has announced a series of promising uranium exploration results from its Mt Isa North Copper and Uranium Project in Queensland. The company’s recent fieldwork has revealed multiple high-grade uranium prospects, notably at the B8A, Monte Bello, and Tjilpa sites, with surface sampling returning uranium oxide (U3O8) grades as high as 1,988 parts per million (ppm).

These findings build on a comprehensive uranium prospectivity review that identified 49 targets across the project area. Antares’ geologists have been systematically ground-truthing these targets, confirming the presence of structurally controlled mineralisation often associated with albite and hematite alteration zones. The B8A prospect alone exhibits mineralisation extending over 240 metres, with surface assays reaching 1,786 ppm U3O8.

Historical Data Supports New Discoveries

Complementing the surface sampling, historical drilling data from the Tjilpa prospect reveals significant uranium intercepts, including a standout 1 metre interval grading 1,004 ppm U3O8 and a 16 metre intercept averaging 347 ppm U3O8 starting at 166 metres depth. Similarly, the Queens Gift prospect, which is slated for its maiden drilling campaign in early November, boasts impressive historical drill results such as 23 metres at 746 ppm U3O8 and 4 metres at 2,298 ppm U3O8.

These historical intercepts, combined with Antares’ recent reconnaissance, underscore the potential for economic uranium mineralisation within the Mt Isa North tenure. The project’s proximity to Paladin Energy’s Valhalla uranium deposit, Australia’s third largest uranium resource, further enhances its strategic value.

Strategic Positioning and Future Plans

Chief Executive Officer Johan Lambrechts highlighted the company’s dual focus on uranium and copper exploration. While uranium prospects are advancing rapidly, copper targets such as Conglomerate Creek remain a priority, with activities progressing toward drill testing. Antares’ tenure strategically envelops both Paladin Energy’s Valhalla uranium project and Glencore’s Mt Isa copper mine, positioning the company well to unlock value across these commodities.

Looking ahead, Antares plans to intensify field activities at the high-priority uranium prospects B8A, Monte Bello, and Tjilpa, with drill programs expected to follow. The upcoming maiden drilling at Queens Gift will be a critical milestone, potentially validating the historical data and advancing the project toward resource definition.

Geological Context and Exploration Methodology

The uranium mineralisation in the Mt Isa region is typically structurally controlled, occurring within brecciated and foliated meta-basalts and meta-sediments. Antares’ exploration approach leverages these geological insights, focusing on radiometric anomalies associated with fault structures and albite alteration zones. The use of RS-225 spectrometer technology has enabled rapid in-field uranium assays, guiding targeted sampling and mapping efforts.

While the current results are encouraging, it is important to note that no new drilling data has been reported in this release; the company’s findings rely on surface sampling and historical drill data. The true widths of mineralisation remain to be confirmed through forthcoming drilling campaigns.