Northern explorer Antares Metals (ASX: AM5) has discovered high-grade uranium mineralisation in its recently completed phase of reverse circulation (RC) drilling at the Queens Gift project in Queensland.
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Lab results have confirmed the nature and grade of the system, with highlight hole ADQ002 intersecting significant width and grade, returning 20 metres at 741 parts per million from 60m, including an interval of 8m at 1288 ppm.
Antares’ managing director, Terry Topping, said that intersection has confirmed the presence of substantial mineralisation and provides confidence for further exploration and resource upgrading activities.
“These results from the RC drilling program conducted in 2025 represent a significant milestone for AM5, validating the high-grade nature of Queens Gift and the accuracy of our geological modelling,” he explained today.
Mr Topping continued: “Intersecting 20m at 741 ppm confirms that we are dealing with a potentially substantial mineralised system that remains open at depth.
“Importantly, the results provide essential data to transition our resource toward JORC 2012 standards and set a strong precedent for our upcoming exploration across the broader Mt Isa North uranium portfolio.”
Queens Gift forms part of the broader 1,937 square kilometre Mt Isa North copper and uranium project in northwest Queensland, less than 50 kilometres from Paladin Energy’s (ASX:PDN) 28.9 million pound Valhalla project.
The maiden Queens Gift program consisted of five RC holes for a total of 954m, designed to extend the known uranium mineralisation envelope down dip. The program also provided geological information to upgrade the existing mineral resource estimate from JORC 2004 to the current JORC 2012 classification.
All five of the completed RC holes successfully intersected the targeted uranium mineralisation as well as the expected albitite alteration synonymous with the vast majority of Mt Isa style uranium mineralisation.
“The success of this program significantly reinforces the exploration potential of the company’s Queensland uranium portfolio, which includes several other highly prospective targets,” Mr Topping declared.
AM5 is up +6.25%, to 0.9c. Mkt cap $6.848M.
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