Antares Metals has strategically acquired two Western Australian gold and copper projects while uncovering a significant high-grade copper zone at its Mt Isa North project, backed by a $2 million capital raise and new leadership.
- 100% acquisition of Quinns Gold & Copper-Zinc VMS and Katanning Gold Projects in WA
- Discovery of district-scale copper mineralisation at Cromwell with assays up to 22.5% Cu
- Commencement of drilling at Queens Gift Uranium Project to upgrade resource classification
- Successful $2.0 million two-tranche placement supported by institutional and HNW investors
- Appointment of Terence Topping as Managing Director, replacing outgoing CEO Johan Lambrecht
Strategic Expansion in Western Australia
Antares Metals Limited (ASX, AM5) has marked a transformative quarter by acquiring full ownership of two promising projects in Western Australia, the Quinns Gold & Copper-Zinc VMS Project and the Katanning Gold Project. Both projects are strategically located near established mining operations, offering Antares a foothold in prolific gold and copper belts. The Quinns project spans 165 square kilometres within the Meekatharra greenstone belt, a region with a rich history of gold mining dating back to the late 19th century. Meanwhile, the Katanning project lies along strike from Ausgold Ltd’s substantial 2.44 million ounce gold resource, positioning Antares to tap into a proven mineralised corridor.
High-Grade Copper Discovery at Mt Isa North
Exploration efforts at the Mt Isa North Copper-Uranium Project have yielded a significant breakthrough with the identification of the Cromwell Copper Prospect. This previously unrecognised district-scale copper mineralisation zone has returned impressive rock chip assays, including grades as high as 22.5% copper over a 9-kilometre strike length. The discovery highlights a series of mineralised shear zones that were undetected by earlier explorers, suggesting substantial untapped potential. The mineralisation is associated with a complex fault system and includes both oxide and sulphide copper minerals, enhancing the prospect’s economic appeal.
Advancing Uranium Exploration
Complementing its gold and copper portfolio, Antares has initiated a 1,000-metre Reverse Circulation drilling campaign at the Queens Gift Uranium Project. The objective is to extend the known uranium mineralisation envelope and upgrade the existing resource from the outdated 2004 JORC classification to the current 2012 standard. Queens Gift shares geological similarities with Paladin Energy’s Valhalla deposit, suggesting promising uranium potential. Additional uranium prospects within the tenement area, such as Skevi and B8A, are also being evaluated for future drilling.
Capital Raising and Leadership Changes
To support its ambitious exploration agenda, Antares successfully raised $2.0 million through a two-tranche placement, attracting both new and existing high-net-worth and institutional investors. The placement included the issuance of free-attaching options, providing further upside potential for shareholders. In a strategic leadership move, Terence Topping was appointed Managing Director, effective late January 2026, replacing Johan Lambrecht who will step down as CEO in February. This change aligns with the company’s focus on accelerating exploration and development activities across its expanded asset base.
Looking Ahead
With a strengthened balance sheet, a broadened portfolio spanning gold, copper, and uranium, and a refreshed management team, Antares Metals is well-positioned to advance its exploration programs in 2026. The company plans detailed mapping, geochemical surveys, and follow-up drilling at its new Western Australian projects, alongside continued evaluation of its Mt Isa North assets. These initiatives aim to unlock value and define resources that could underpin future development opportunities.
Bottom Line?
Antares Metals enters 2026 with momentum, poised to convert exploration success into tangible resource growth.
Questions in the middle?
- How will upcoming drilling results at Quinns and Katanning influence Antares’ resource estimates?
- What are the timelines and capital requirements for advancing the Queens Gift uranium project?
- How will the new Managing Director’s strategy impact exploration prioritisation and capital allocation?