High-Grade Uranium Discoveries Boost Antares Metals' Exploration Potential
Antares Metals Limited (ASX: AM5) has announced significant uranium mineralisation at its Skevi and U4A prospects within the Mt Isa North Project, highlighting the company's expanding uranium exploration footprint in a region that hosts Australia's third-largest uranium resource.
Promising Results from Two Key Uranium Prospects
The recent field activities have delivered substantial uranium grades at two priority targets – Skevi and U4A – following a comprehensive uranium prospectivity review that identified 49 priority targets across the company's tenements.
At the Skevi prospect, historical rock chip results revealed uranium grades up to 0.56% (5,584 ppm U₃O₈), with significant shallow drilling intercepts including:
- 7m @ 0.12% (1,155 ppm) U₃O₈ from 25m, including 3m @ 0.25% (2,457 ppm) U₃O₈ in hole PSRC-023
The newly explored U4A prospect, potentially being investigated for the first time, has returned surface sample results up to 289 ppm U₃O₈ and notably high thorium readings up to 2,169 ppm Th.
These results complement Antares Metals' copper uranium discovery at the previously identified Queens Gift prospect, which features historical drilling intercepts including:
- 23m @ 746 ppm U₃O₈ from 74m, including 8m @ 1,596 ppm U₃O₈
- 31m @ 609 ppm U₃O₈ from 46m, including 6m @ 1,133 ppm U₃O₈
- 4m @ 2,298 ppm U₃O₈
Strategic Position in Australia's Uranium Heartland
Antares Metals' Mt Isa North Project surrounds Paladin Energy's (ASX: PDN) Valhalla Project, which hosts Australia's third-largest uranium resource with 148.3 million pounds at 728 ppm U₃O₈.
"With our copper-focused field activities yielding excellent targets and results, we are excited by the findings of the first targeted uranium field work. The Skevi uranium project represents a new and potentially drill-ready uranium prospect to complement the Queens Gift uranium project, while U4A has never been looked at before, and has already revealed highly encouraging uranium and thorium results," commented CEO Johan Lambrechts.
Understanding Albitite-Style Uranium Mineralisation
The uranium prospects identified at the Mt Isa North Project share characteristics with albitite-style, shear-hosted uranium mineralisation common in the region. This mineralisation style typically features:
- Strong structural control with brecciation and foliation
- Pervasive sodium metasomatism producing distinctive red "albitites"
- Chlorite haloes surrounding albite alteration
- Geochemical enrichment in U, Na, Ca, Sr, Zr, Th, Hf, and P
- Frequent association with the Cromwell metabasalt member of Eastern Creek Volcanics
The Skevi prospect demonstrates these characteristics, with mineralisation interpreted as a series of structurally controlled lenses with complex geometry that may extend under cover for up to 1,200 meters.
Detailed Analysis of the Skevi Prospect
The Skevi uranium prospect features a discrete radiometric anomaly previously explored by Regalpoint Resources in 2012-2013. Drilling intersected significant uranium mineralisation extending over 500 meters within the Eastern Creek Volcanics.
The mineralisation appears structurally complex with limited surface exposure. Anomalous rock chips from areas with minimal outcrop indicate potential uranium mineralisation 400 meters north of the main prospect, suggesting a much larger mineralised system.
The nearby Skal deposit, owned by Paladin Energy, is considered an analog for Skevi, as both feature series of mineralised lenses that are truncated and offset by faults.
The Unusual U4A Discovery
What makes the U4A prospect particularly interesting is its unique geochemical signature. Located approximately 6km southeast of the Queens Gift Uranium Project, it presents as a highly anomalous uranium radiometric anomaly over 800 meters in length.
The prospect is positioned in a favorable structural setting near the major Mt Isa Fault system, similar to the Valhalla deposit to the south. Antares geologists tracked mineralisation for over 500 meters using an RS-225 spectrometer.
The most distinctive feature of U4A is its extremely high thorium values exceeding 2,000 ppm Th. This is unusual for the region, as thorium values in typical Shear-Hosted Albitite Uranium prospects in the Mt Isa region rarely exceed 30 ppm.
Uranium Exploration in Australia: Context and Opportunity
Uranium exploration in Australia has experienced renewed interest amid growing global recognition of nuclear energy's role in clean energy transitions. Australia holds approximately 28% of the world's known uranium resources, yet contributes only about 10% of global production.
The Mt Isa region in Queensland has been identified as a significant uranium province, with several major deposits discovered since the 1950s. The region's geology is particularly favorable for albitite-style uranium deposits, which are typically amenable to conventional mining methods.
Antares Metals uranium discoveries at Skevi and U4A highlight the continued potential for new finds in this well-established uranium province. The company's strategic land position surrounding Paladin Energy's Valhalla deposit provides excellent geological context for its exploration efforts.
While uranium mining is currently prohibited in Queensland, the state government periodically reviews this policy, and explorers like Antares Metals continue to advance projects in anticipation of potential regulatory changes.
Future Exploration Plans
Antares Metals will continue developing its uranium targets, with particular focus on Skevi, U4A, and Queens Gift. The company has indicated that drilling progress and strategic objectives are planned over the Skevi prospect in the coming weeks to further assess its potential as a drill-ready target.
Additionally, reconnaissance programs are planned for other high-priority uranium targets identified in the prospectivity review, including Tjilpa, Montebello, and B8A.
The company is also advancing several copper discovery mineralisation focused drill targets and high-priority prospects including Conglomerate Creek and Surprise.
Why Investors Should Watch Antares Metals
With a market capitalisation of just $4.1 million and cash reserves of $1.3 million as of June 2025, Antares Metals presents as a potentially undervalued exploration play in the uranium sector. The company's strategic position surrounding Australia's third-largest uranium resource offers significant leverage to uranium exploration success.
The combination of:
- Multiple high-grade uranium prospects with proven mineralisation
- A large portfolio of 49 identified uranium targets
- Additional copper exploration potential
- An experienced management team led by Chairman Mark Connelly and CEO Johan Lambrechts
- Proximity to Paladin Energy's established Valhalla uranium resource
Provides a compelling case for investors interested in junior uranium explorers with tangible assets and near-term catalysts.
As global interest in nuclear energy continues to grow amid clean energy transitions, companies with quality uranium exploration assets in stable jurisdictions like Australia may attract increased attention from investors and potential development partners.
The recent Antares Metals uranium discoveries could position the company as an emerging player in Queensland's uranium exploration landscape, with multiple prospects showing potential for significant resource development. Furthermore, much like the recent high-grade gold results in Nevada, these discoveries demonstrate the potential for junior explorers to make significant finds in well-established mining districts.
Investors should also take note of the company's diversified portfolio, which includes not only uranium but also high-grade titanium resource potential across its various projects, providing multiple pathways to value creation.
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