Antares Metals managing director Terry Topping is hailing a milestone result at the company’s Queens Gift uranium project, with drill results validating its high-grade nature and the accuracy of the company’s geological modelling.

“Intersecting 20m at 741ppm U3O8 confirms that we are dealing with a potentially substantial mineralised system that remains open at depth,” Mr Topping said.

“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 Mount Isa North uranium portfolio.”

Related: Latest Cromwell results stoke Antares excitement

The maiden drilling program of five RC holes (for 954m) at Queens Gift was designed to extend the known uranium mineralisation envelope down dip.

Antares said all five successfully intersected the targeted uranium mineralisation as well as the expected albitite alteration synonymous with the vast majority of Mount Isa-style uranium mineralisation.

Results included:

• 3m at 216ppm U3O8 from 190m (AQD001)
• 1m at 796ppm U3O8 from 212m (AQD001)
• 20m at 741ppm U3O8 from 60m (AQD002) including 8m at 1288ppm U3O8
• 3m at 471ppm U3O8 from 111m (AQD003)
• 2m at 309ppm U3O8from 271m (AQD004)

The Queens Gift deposit, about 80km north of Mount Isa, was originally discovered by Queensland Mines (QML) in 1969.

Significant work was completed by Deep Yellow from 2006 to 2011, culminating in the delineation of a JORC 2004 mineral resource in 2011.

Antares – formerly NickelSearch – acquired the project in 2024 as part of a raft of tenements held by Capella Metals and Bacchus Resources.

You may also like: