Antares Metals Unveils High-Grade Copper Hits After Mt Isa Acquisition

Transformational Acquisition Completed

Antares Metals Limited (ASX: AM5), formerly NickelSearch, has marked a significant milestone with the successful completion of its acquisition of the Mt Isa North Copper-Uranium project in Northwest Queensland. This strategic move expands Antares’ footprint into one of Australia's most prolific mining regions, covering a substantial 2,003 square kilometres of highly prospective tenure.

The acquisition consolidated interests previously held by Capella Metals Limited and Bacchus Resources Pty Ltd, bringing together a portfolio of granted exploration permits and applications now fully granted. The Mt Isa region’s established mining infrastructure and skilled workforce provide a solid foundation for Antares’ exploration ambitions.

Capital Raising and Corporate Developments

Supporting this acquisition, Antares Metals successfully raised $2.1 million through a fully underwritten pro rata non-renounceable entitlement offer. The capital injection is earmarked to fund a comprehensive exploration program focused on unlocking the value of the newly acquired assets.

In parallel with these developments, the company rebranded from NickelSearch Limited to Antares Metals Limited, adopting the new ASX ticker code AM5. The leadership team was bolstered with the appointment of Johan Lambrechts as CEO, bringing over two decades of mining industry experience, including direct exposure to the Mt Isa region. Non-executive directors Richard Maddocks and Bruno Seneque also joined the board, enhancing governance and strategic oversight.

Encouraging Early Exploration Results

Initial exploration at the Surprise Project, a key target within the Mt Isa North portfolio, has yielded compelling results. Grab samples returned exceptionally high copper grades ranging from 11.3% to 24.8% Cu, accompanied by anomalous gold values. A maiden reverse circulation (RC) drilling program, although curtailed by seasonal bushfires, intersected mineralised intervals with pXRF readings indicating copper concentrations up to 12%.

Complementary geophysical work included a large-scale 3D Induced Polarisation (IP) survey and a high-definition drone magnetic survey over the Surprise prospect. These surveys aim to delineate sulphide-rich zones and structural controls on mineralisation, providing critical data for targeting future drilling campaigns.

Expanding Prospects and Regional Potential

Beyond Surprise, exploration at the Moonside Prospect uncovered visible copper mineralisation with rock chip samples grading as high as 30% Cu and 64.7 g/t Ag. This previously unrecognised prospect offers a promising new target area warranting further detailed mapping and sampling.

At Conglomerate Creek, detailed ground gravity and drone magnetic surveys have been completed, generating high-definition geophysical datasets. These will be interpreted to identify large-scale buried copper targets, enhancing the understanding of the regional geology and mineralisation potential.

Looking Ahead

Antares Metals’ strategic acquisition and early exploration successes position the company well to advance its Mt Isa North project. With a strengthened leadership team and robust funding, the company is set to accelerate its exploration activities, aiming to unlock significant value in one of Australia’s premier copper and uranium provinces.