Antares Metals Advances High-Grade Gold and Copper Targets with Government Boost

Government Funding Accelerates Quinns Copper-Gold Exploration

Antares Metals (ASX:AM5) has secured a significant $237,500 in non-dilutive funding from the Western Australian Government’s Exploration Incentive Scheme (EIS) to underwrite its maiden drilling and aeromagnetic surveys at the Quinns Copper-Gold Project. This funding offsets a substantial portion of the exploration costs, allowing the company to fast-track testing of the historic Austin Volcanogenic Massive Sulphide (VMS) deposit and nearby untested prospects.

The Austin deposit, hosting a historical resource of 1.48 million tonnes grading 1.02% copper, 1.39% zinc, and notable precious metals, remains underexplored with high-grade intercepts outside the current resource footprint. However, investors should note this resource was reported under the 2004 JORC Code, and its classification under current standards remains uncertain.

High-Grade Gold Discovery at Quinns Expands Exploration Horizons

Antares’ first systematic gold sampling at Quinns has uncovered exceptional grades, with rock chip assays reaching 41.7 g/t gold at the Finlay prospect, alongside other hits of 15.93 g/t and 5.30 g/t Au at Fennell, and multiple samples above 3 g/t Au at the Favourite gold mine area. These results reveal a district-scale potential for high-grade orogenic gold mineralisation within a 20km belt of largely untested ground.

Three priority gold targets, Finlay, Fennell, and Favourite, are now progressing rapidly with heritage surveys, expanded soil sampling, and geophysical reviews. Drilling is slated to commence in the September quarter, pending heritage clearances, aiming to unlock the full potential of this emerging gold province.

Maiden Drilling at Conglomerate Creek Tests Buried Copper-Uranium Targets

In Queensland, Antares wrapped up a maiden six-hole, 780-metre reverse circulation drilling program at its Mt Isa North Project’s Conglomerate Creek prospect. This first-ever subsurface test targeted a quartz vein system beneath a 21.3% copper surface anomaly, interpreted from geophysical data as part of a 2km by 2.5km buried intrusive feature.

The drilling intersected the targeted vein system, and assay results are expected in the September quarter. These results will be crucial to assess the grade and guide follow-up drilling, particularly at other high-priority geophysical anomalies within the project area.

Katanning Project and Broader Portfolio Progress

Beyond these immediate priorities, Antares is preparing a first-pass exploration program at the Katanning Project in WA, strategically located along strike from Ausgold’s 2.44 million-ounce gold resource. Early-stage work will include mapping and soil sampling to define drill targets, building on previous rock chip samples that returned up to 21.3% copper and 506 g/t silver from quartz vein systems.

Antares holds a diversified portfolio across Queensland and Western Australia, with a clear focus on copper, gold, and uranium. The company ended the quarter with approximately $0.58 million in cash, balancing its exploration ambitions with prudent financial management.