Antares Raises $2M to Acquire Historic Gold-Copper Projects in WA
Antares Metals (ASX – AM5) announces the acquisition of full interests in two promising Western Australian gold and copper-zinc projects, backed by a $2 million capital raise to fund exploration and drilling in early 2026.
- Acquisition of 100% interests in Quinns Gold & Copper-Zinc VMS and Katanning Gold Projects
- Quinns hosts historic gold production and a 2010 JORC copper-zinc resource at Austin Deposit
- Katanning project lies along strike from Ausgold’s 2.44Moz gold resource
- Binding commitments secured for $2 million placement to fund exploration
- Proposed appointment of Terry Topping as Managing Director upon completion
Strategic Acquisition in Western Australia
Antares Metals Limited (ASX – AM5) has announced a significant expansion of its portfolio with the acquisition of 100% interests in two key projects in Western Australia – the Quinns Gold & Copper-Zinc Volcanogenic Massive Sulphide (VMS) Project and the Katanning Gold Project. Both projects are strategically located near established mining operations and infrastructure, offering promising exploration upside.
The Quinns Project spans 165 square kilometres within the prolific Meekatharra greenstone belt, a region renowned for its rich gold and base metal deposits. It lies just 10 kilometres from Monument Mining’s Burnakura Mill and within 50 kilometres of Westgold Resources’ Bluebird and Tuckabianna mills. Historically, Quinns produced nearly 12,000 ounces of gold at an impressive grade of 18.2 grams per tonne between 1897 and 1917, highlighting its potential.
Historic Resources and Exploration Potential
Beyond gold, Quinns hosts a notable copper-zinc VMS deposit at the Austin Prospect, with a historical JORC 2004 resource estimate of 1.48 million tonnes grading 1.02% copper, 1.39% zinc, 3.51 grams per tonne silver, and 0.24 grams per tonne gold. Recent deep drilling has intersected high-grade copper and zinc mineralisation well below the existing resource, indicating significant potential for resource expansion.
The Katanning Gold Project covers 130 square kilometres and is located along strike from Ausgold Ltd’s substantial 2.44 million ounce gold resource. Despite its proximity to this major deposit, Katanning has seen limited modern exploration, with no previous reverse circulation or diamond drilling, presenting a compelling opportunity for discovery.
Funding and Leadership to Drive Exploration
To support these acquisitions and subsequent exploration activities, Antares has secured binding commitments to raise $2 million through a strategic placement at $0.008 per share, representing discounts to recent trading prices. The funds will finance initial exploration, including detailed data compilation, mapping, geochemical and geophysical surveys, and first-pass drilling programs planned for early 2026.
In a move to strengthen leadership aligned with these new assets, Antares proposes the appointment of Terry Topping as Managing Director upon completion of the Kilonova acquisition. Mr. Topping brings extensive experience in mineral resource evaluation and exploration, particularly relevant to the style of deposits at Quinns and Katanning.
Next Steps and Market Implications
The acquisitions remain subject to customary conditions, including shareholder and regulatory approvals, due diligence, and ministerial consent for tenement transfers. Antares plans to undertake infill and extensional drilling to verify and expand the historical Austin resource and to aggressively explore the broader Quinns and Katanning tenements.
This strategic move positions Antares Metals to leverage underexplored but highly prospective ground in Western Australia’s established mining districts, potentially unlocking significant value for shareholders as exploration advances.
Bottom Line?
Antares Metals’ acquisition and capital raise set the stage for a pivotal exploration campaign in Western Australia’s gold and base metals heartland.
Questions in the middle?
- Will Antares successfully upgrade the historical Austin resource to JORC 2012 standards?
- What are the initial drilling results expected to reveal about the depth extensions at Austin and new targets at Katanning?
- How will the appointment of Terry Topping influence the pace and focus of exploration activities?
