Antares Metals (ASX: AM5) has secured approval to begin heritage surveys and drilling at its Quinns VMS project in Western Australia, backed by $237,500 in government co-funding. The company aims to test high-grade extensions of the historic Austin deposit and untested regional prospects, with copper prices rising sharply since the last resource estimate.
- Program of Work approved for Quinns drilling
- Historic Austin VMS deposit hosts 1.48Mt resource (JORC 2004)
- Government co-funding offsets up to 50% of drilling costs
- High-grade copper and zinc intercepts outside current resource
- Untested Defiance and 4E prospects offer additional potential
Program Approval Unlocks Drilling at Quinns
Antares Metals Ltd (ASX:AM5) has cleared a key regulatory hurdle with the Department of Mines, Industry Regulation and Safety (DMIRS) approving its Program of Work for the Quinns Copper-Gold-Zinc VMS Project in Western Australia. This green light enables heritage surveys to start mid-August 2026, paving the way for reverse circulation (RC) and diamond drilling to test high-grade extensions of the historic Austin deposit and nearby untested targets.
With $237,500 in co-funding secured from the Western Australian Government’s Exploration Incentive Scheme (EIS), the company can offset up to half of the direct drilling and geophysical survey costs. This non-dilutive funding supports AM5’s broader exploration ambitions across three project hubs and reflects confidence in the geological potential of Quinns.
Historic Austin Deposit Holds Untapped High-Grade Zones
The Austin VMS deposit, discovered in the early 1990s and drilled extensively by Silver Swan Group between 2008 and 2010, hosts a historical JORC 2004 resource of 1.48 million tonnes at 1.02% copper, 1.39% zinc, 3.51 g/t silver, and 0.24 g/t gold. However, several shallow, high-grade copper and zinc intersections remain outside the current resource footprint, offering near-term upgrade potential.
Notable historic drill results include 58 metres at 2.0% copper with associated silver and gold grades, including 2 metres grading 16.9% copper and 3.1 g/t gold, and zinc intercepts up to 45.6%. These intercepts were excluded from the 2010 resource estimate, which applied a 0.4% copper cut-off grade when copper prices were around US$7,700 per tonne. With copper now trading approximately 75% higher at US$13,400 per tonne, AM5 considers revisiting cut-off grades a sensible step in future resource updates.
Exploration Targets Extend Beyond Austin
Beyond Austin, the Defiance and 4E prospects, located 5 to 7 kilometres northeast along the same VMS trend, remain untested by systematic drilling. Historical aeromagnetic surveys and geochemical anomalies suggest these targets could host significant copper-zinc mineralisation. Previous wide-spaced aircore and RC drilling intersected anomalous zinc and copper values, as well as gold mineralisation, but no follow-up drilling has been conducted to date.
AM5’s maiden drilling campaign is planned in phases, starting with Austin to confirm and extend known mineralisation, followed by testing Defiance and 4E. This approach aims to maximise the efficiency of field operations while advancing multiple prospects concurrently.
Strategic Location Near Processing Infrastructure
The Quinns project covers approximately 383 square kilometres in the Murchison mineral field, about 70 kilometres south of Meekatharra. It benefits from proximity to established processing mills operated by Monument Mining (TSX: MMY) and Westgold Resources (ASX:WGX). Nearby, Solstice Minerals Ltd (ASX:SLS) is advancing the Nanadie Copper Deposit with a JORC 2012 inferred resource of 40.4 million tonnes at 0.4% copper and 0.1 g/t gold, underscoring the district’s copper potential.
While the presence of mineralisation at Nanadie is not indicative of resources at Quinns, the existing infrastructure and regional activity provide a supportive backdrop for Antares’ exploration efforts.
Next Steps and Broader Exploration Program
Following heritage surveys, AM5 plans to execute a 780-metre drilling program at Austin, progressing to Defiance and 4E in subsequent phases. Concurrently, the company is advancing exploration at its Mt Isa North project in Queensland, where recent drilling at Conglomerate Creek intersected quartz veins consistent with surface mineralisation and assays are pending. Additional exploration is planned at the Cromwell discoveries to build on earlier successes.
Managing Director Terry Topping emphasised the significance of the Program of Work approval and government funding, stating it enables a low-cost, near-term pathway to a meaningful resource at Quinns. He anticipates material news flow for shareholders in the second half of 2026 as drilling results emerge.
Bottom Line?
Antares Metals’ imminent drilling at Quinns, supported by government funding and rising copper prices, could unlock significant resource upgrades, but results and cut-off grade reviews remain pivotal.
Questions in the middle?
- Will the maiden drilling at Austin confirm and extend the high-grade zones excluded from the historic resource?
- How will a potential revision of copper cut-off grades impact the size and grade of any updated resource estimate?
- Can the untested Defiance and 4E prospects deliver new discoveries along the Quinns VMS trend?