Antares Metals Uncovers Multiple High-Grade Uranium Prospects at Mt Isa North
Antares Metals Limited (ASX: AM5) has announced the discovery of multiple high-grade uranium prospects at its Mt Isa North Copper and Uranium Project in northwest Queensland, further strengthening the company's exploration pipeline and setting the stage for its upcoming maiden uranium drill program.
The systematic exploration program at Antares' Mt Isa North Project has yielded impressive results across multiple prospects, with exceptional uranium grades found at surface. These https://discoveryalert.com.au/news/antares-metals-copper-uranium-discovery-queens-gift/ findings represent a significant advancement for the company's strategic position in this resource-rich region.
High-Grade Uranium Discoveries Expand Project Potential
The exploration program has delivered remarkable results across multiple prospects, highlighted by exceptional uranium grades found at surface:
- B8A Prospect: Surface sampling revealed extensive high-grade uranium mineralisation over a 240m strike length, with samples returning up to 1,786 ppm U₃O₈
- Monte Bello Prospect: Surface sampling returned grades as high as 1,988 ppm U₃O₈
- Tjilpa Prospect: Surface sampling showed values up to 977 ppm U₃O₈, with historic high-grade drilling intercepts including:
- 1m @ 1,004 ppm U₃O₈ from 6m (TJDDH01)
- 16m @ 347 ppm U₃O₈ from 166m (TJDDH01)
- 3m @ 742 ppm U₃O₈ from 166m (TJDDH03)
These discoveries follow the company's earlier uranium prospectivity analysis which identified 49 targets across the project area. Antares is now systematically evaluating these targets through field activities and ground truthing.
"Our systematic exploration continues to highlight the outstanding uranium prospectivity across the Mt Isa North Project, with recent high-grade results confirming a growing pipeline of potential uranium drill targets," said Johan Lambrechts, CEO.
Strategic Location Alongside Major Uranium Resource
Antares' Mt Isa North Project surrounds Paladin Energy's Valhalla Project, which hosts Australia's third-largest uranium resource at 148.3 million pounds of U₃O₈ at a grade of 728 ppm. This strategic positioning gives Antares excellent exploration potential within a proven uranium-bearing district.
The project's geology shares significant similarities with the nearby Valhalla deposit. Uranium mineralisation typically occurs in albitite zones within the Cromwell Metabasalt member of the Eastern Creek Volcanics, providing a clear geological template for exploration.
Queens Gift Drill Program Set for November
While advancing these new discoveries, Antares is simultaneously preparing for its maiden uranium drill program at the Queens Gift prospect, scheduled for early November. Historical high-grade intercepts at Queens Gift include:
- 23m @ 746 ppm U₃O₈ from 74m including 8m @ 1,596 ppm U₃O₈ (QGDC002)
- 31m @ 609 ppm U₃O₈ from 46m including 6m @ 1,133 ppm U₃O₈ (QGRC047)
- 4m @ 2,298 ppm U₃O₈ (QGRC078)
These historical results provide a strong foundation for the upcoming drill campaign, which aims to confirm and potentially expand upon the known mineralisation at https://discoveryalert.com.au/news/antares-metals-copper-uranium-discovery-queens-gift/.
Understanding Uranium Mineralisation in the Mt Isa Region
The Mt Isa region's uranium deposits share several key characteristics that Antares Metals' exploration team is leveraging to guide their program:
Geological Controls on Uranium Formation
Uranium deposits in the Mt Isa region typically display:
- Structural control: Mineralisation is generally located on second-order structures adjacent to major faults
- Sodium alteration: Pervasive sodium metasomatism expressed as red albite with finely disseminated hematite
- Chlorite alteration: Intense chlorite haloes proximal to the albite alteration
- Distinctive geochemical signatures: Enrichment of uranium along with sodium, calcium, strontium, zirconium, thorium, hafnium, and phosphorus
- Specific host rocks: Strong correlation between uranium occurrences and the Cromwell meta-basalt member
This understanding of regional mineralisation styles allows for more targeted and efficient exploration efforts across the project area. The https://discoveryalert.com.au/news/high-grade-uranium-discoveries-antares-metals-exploration/ demonstrate these characteristic features, reinforcing their potential significance.
Project Details and Exploration Methodology
The B8A prospect, located on EPM 27439, was originally discovered by Carpentaria Exploration Company in 1965 as a discrete radiometric anomaly. Antares' geological team has now tracked mineralisation for more than 240m using an RS-225 spectrometer, with the mineralisation appearing to be structurally controlled and associated with strong albite/hematite alteration.
At the Tjilpa prospect, Antares geologists tracked mineralisation for over 100m at the northern anomaly. The prospect had been previously explored by QML in the 1970s and Summit Resources in 2006, which drilled five shallow holes beneath the prospect.
Furthermore, the Monte Bello prospect, located 6km southwest of Paladin Energy's Skal Uranium deposit, shows high-grade uranium mineralisation in steeply southeast-dipping albitite zones. Despite Summit Resources drilling three holes at Monte Bello in 2009, the company is conducting a structural and geological review to better understand the mineralisation pattern.
Investment Potential in a Growing Uranium Market
With a market capitalisation of just $4.1 million and cash reserves of $1.3 million (as of June 30, 2025), Antares Metals offers investors a low-cost entry point into a company with significant uranium exploration potential in a proven uranium district.
The company is well-positioned to capitalise on increasing global interest in nuclear power as a clean energy source, which is driving growing demand for uranium. The Mt Isa region is a known uranium province, and Antares' strategic land position surrounding Australia's third-largest uranium resource enhances its exploration prospects.
"With our tenure strategically surrounding Paladin Energy's Valhalla Project, and Glencore's Mt Isa Copper mine, AM5 is well-positioned to unlock value across both uranium and copper opportunities," noted Lambrechts.
How Does Antares Compare to Regional Explorers?
When comparing Antares Metals to other explorers in the region, several factors stand out:
Proximity to Major Deposits
Antares holds ground that directly surrounds the Valhalla uranium deposit, giving it a geological advantage that few other junior explorers can match. This proximity to a proven resource significantly increases the probability of exploration success.
Multiple Commodity Focus
Unlike some single-commodity explorers, Antares is pursuing both uranium and copper opportunities at https://discoveryalert.com.au/news/copper-gold-porphyry-potential-mt-cannindah-expansion/. This diversification provides shareholders with exposure to both energy transition metals and traditional base metals markets.
Valuation Upside
At a market capitalisation of just $4.1 million, Antares trades at a significant discount to many of its peers, despite holding ground adjacent to Australia's third-largest uranium resource. This valuation gap presents a potential opportunity for investors as exploration results continue to emerge.
Future Catalysts for Investors to Watch
Looking ahead, Antares has outlined several key catalysts that could drive value for shareholders:
- Maiden drill program at Queens Gift scheduled for November 2025
- Follow-up exploration at the newly identified B8A, Monte Bello, and Tjilpa prospects
- Continued ground truthing of the remaining high-priority uranium targets identified in the prospectivity review
- Advancement of copper targets including Conglomerate Creek and Surprise prospects
The https://discoveryalert.com.au/news/antares-metals-unveils-uranium-targets-mt-isa-valhalla-potential/ have significantly expanded the company's pipeline of potential drilling targets, with further field activities planned to determine the most prospective targets for drill testing.
Why Investors Should Watch Antares Metals
Antares Metals represents an attractive opportunity for investors seeking exposure to the uranium sector for several compelling reasons:
- Multiple high-grade uranium discoveries at surface across several prospects
- Strategic land position surrounding Australia's third-largest uranium resource
- Near-term drilling catalyst with the Queens Gift program in November
- Dual commodity exposure with both uranium and copper targets
- Tight capital structure with a market capitalisation of just $4.1 million
As the company advances its systematic exploration approach across the Mt Isa North Project, investors should watch closely for results from the upcoming Queens Gift drilling program and further developments across the company's expanding pipeline of uranium prospects.
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