Antares Metals (ASX:AM5) is streamlining drilling at the Queens Gift uranium prospect within the Mt Isa North Project in northwest Queensland to begin next week.
Initially covering an area of 1,000m, drilling is intended to extend known uranium mineralisation down dip ahead of upgrading the current resource estimate to be categorised as compliant with the JORC 2012 standards.
Drilling is also expected to lay the foundation for future exploration work across the project, including the potential drill-ready targets Skevi and B8A.
CEO Johan Lambrechts says the Queens Gift uranium deposit represents significant value to the company.
“Increasing its potential size and JORC classification through drilling will add significant value to an already valuable project,” the CEO says.
Located 80km north of Mt Isa, the Queens Gift prospect outcrops as a ridge extending for 1.3km and hosts similarities to Paladin Energy’s (ASX:PDN) Valhalla discovery.
Antares Metals is a junior explorer focused on uncovering copper and uranium deposits across Australia.
Write to Maddison Elliott at Mining.com.au
Images: Antares Metals
