Antares Metals has completed a strategic acquisition of gold and copper projects in Western Australia and raised $2.03 million to fund exploration, while appointing Terence Topping as Managing Director to lead the next growth phase.
- Acquisition of 100% interest in Quinns Gold & Copper-Zinc VMS and Katanning Gold Projects
- Successful $2.03 million capital raise via two-tranche placement
- Appointment of experienced geologist Terence Topping as Managing Director
- Exploration underway with maiden drilling planned on high-priority targets
- Royalty agreements established with vendors on acquired tenements
Strategic Acquisition in Tier-One Mineral Provinces
Antares Metals Ltd (ASX – AM5) has taken a significant step forward by completing the acquisition of 100% interests in two promising Western Australian projects – the Quinns Gold & Copper-Zinc VMS Project and the Katanning Gold Project. These assets collectively cover nearly 300 square kilometres of highly prospective tenure in the Meekatharra greenstone belt and the southern Yilgarn Craton, regions renowned for their mineral endowment.
The Quinns project, spanning 165 km of tenure, lies close to established processing infrastructure, including Monument Mining's Burnakura Mill and Westgold Resources’ Bluebird and Tuckabianna Mills. Meanwhile, the Katanning project’s 130 km of contiguous tenure sits strategically along strike from Ausgold Ltd’s substantial 2.44 million ounce Katanning Gold Project, positioning Antares well within a prolific gold corridor.
Capital Raising and Vendor Agreements
To fund this transformational acquisition and upcoming exploration programs, Antares successfully raised $2.03 million through a two-tranche placement. The raise included free-attaching options exercisable at $0.02, providing investors with additional upside potential. Directors Mark Connelly, Bruno Seneque, and Richard Maddocks participated in the placement, signalling strong internal confidence.
As part of the acquisition agreements, Antares issued a combined 87.5 million shares and approximately 29 million unquoted options to the vendors, subject to voluntary escrow periods. Additionally, the company agreed to 1% net smelter royalties on minerals produced from the acquired tenements, aligning vendor interests with future project success.
Leadership Boost with Terence Topping
Coinciding with the acquisition, Antares appointed Terence Topping as Managing Director. With over 35 years of global mineral exploration experience, Mr Topping brings a wealth of expertise, having been instrumental in discovering and developing significant gold deposits, including the Paulsens gold deposit. His track record includes leadership roles at ASX-listed companies such as Kairos Minerals and Scimitar Resources.
Mr Topping’s appointment marks a strategic alignment with Antares’ growth ambitions, particularly in advancing the newly acquired Quinns and Katanning projects. He replaces outgoing CEO Johan Lambrechts, who will step down in February 2026.
Exploration and Next Steps
With the acquisition and capital raise complete, Antares is poised to accelerate exploration activities. Immediate priorities include detailed data compilation, target generation, and planning maiden drilling campaigns at Quinns and Katanning. Concurrently, the company continues to advance copper and uranium exploration at its Mt Isa North Project in Queensland, with assay results pending from recent drilling and sampling.
While historical mineral estimates exist for some deposits, such as the Austin VMS deposit at Quinns, these are not compliant with current JORC standards, underscoring the need for modern exploration and resource definition work.
Antares’ strategy to focus on assets near established infrastructure and major resources aims to maximise development potential and shareholder value in the competitive Australian exploration landscape.
Bottom Line?
Antares’ WA acquisitions and leadership renewal set the stage for a pivotal exploration campaign that could redefine its growth trajectory.
Questions in the middle?
- How will upcoming drilling results at Quinns and Katanning influence resource classification and valuation?
- What impact will Terence Topping’s leadership have on Antares’ exploration strategy and market positioning?
- How might the 1% net smelter royalties affect project economics if significant discoveries are made?