Antares Metals Expands with 295km² WA Gold and Copper Assets

A Strategic Expansion in Western Australia

Antares Metals Limited (ASX, AM5) has unveiled a transformative acquisition that significantly broadens its footprint in Western Australia's rich gold and base metals provinces. The company has entered binding agreements to acquire 100% interests in multiple exploration licences and mining lease applications, consolidating a diversified portfolio spanning the Quinns Gold & VMS Project, Katanning Gold Project, and the Mt Isa North Copper & Uranium Hub.

Assets with Proven Potential and Strategic Location

The Quinns Project, located 55km south of Meekatharra, covers approximately 165 square kilometres in the Murchison Province and is highly prospective for gold and volcanic massive sulphide (VMS) mineralisation. Historical drilling has revealed significant high-grade copper and zinc mineralisation, including intercepts such as 58 metres at 2.0% copper and 38 metres at 14% zinc. Meanwhile, the Katanning Gold Project, situated 40km southeast of Katanning, encompasses 130 square kilometres immediately along strike from Ausgold’s 2.44 million ounce gold project, with clear geological structures indicating extensions of gold potential.

Further east, the Mt Isa North project in Queensland offers a sprawling 1,937 square kilometres of tenure adjoining Glencore’s Mt Isa operations. This hub is notable for its copper, zinc, silver, lead, uranium, and rare earth element potential, with historical JORC 2004 resources at the Queen’s Gift uranium prospect and recent encouraging copper intercepts at the Surprise Mine and Conglomerate Creek.

Transaction Details and Capital Structure

The acquisition consideration includes 87.5 million AM5 shares subject to escrow, approximately 29.2 million options exercisable at $0.02 each, upfront cash payments totaling $150,000, and a 1% net smelter royalty on all metals produced. The company also plans a two-tranche equity placement to raise $2 million at $0.008 per share, with attaching options, to fund exploration activities and support the expanded portfolio.

With a pro-forma market capitalisation of $6.8 million and cash reserves of $2.8 million before costs, Antares is well positioned to advance its exploration agenda. The management team, boasting decades of experience in mining leadership, geology, and corporate finance, is gearing up for a maiden drilling campaign scheduled for the first quarter of 2026.

Looking Ahead, Exploration and Value Creation

Antares Metals’ strategy focuses on applying modern exploration techniques, including airborne magnetics and ground gravity surveys, to unlock further drilling targets for gold and copper. The company’s diversified asset base across established mineral provinces offers multiple avenues for discovery and consistent newsflow. While some historical resource estimates date back to the 2004 JORC code and require reclassification under the current 2012 standards, the portfolio’s proven mineralisation and strategic location underpin its potential for significant value creation.

As Antares prepares to embark on its exploration campaign, market participants will be watching closely for drilling results that could validate the company’s ambitious growth plans and enhance its standing in the competitive WA gold and base metals sector.