Antares Metals (ASX:AM5) has identified a new and potentially drill-ready uranium prospect at the Skevi Uranium site at the Mt Isa North Copper and Uranium Project in Northwest Queensland.
The company has completed fieldwork and analysis of geophysical and radiometric surveys, in conjunction with the litho-structural corridors highlighted by the uranium prospectivity review.
Skevi has been identified as a high-priority uranium target with historical rock chip and drill results returning up to 5,584 parts per million (ppm) triuranium octoxide and 1,155ppm triuranium octoxide.
Meanwhile at the U4A prospect, which has no historical data, surface samples have returned up to 289ppm triuranium octoxide and 2,169ppm thorium, after Antares completed recent field work.
Antares is planning further field activities, specifically a ground-truthing phase over Skevi. The company will continue to develop these targets, as well as conduct further reconnaissance work at the Tjilpa, Montebello, and B8A targets.
CEO Johan Lambrechts says Skevi compliments the Queens Gift Uranium Project while U4A has never been looked at before.
“With our copper-focused field activities yielding excellent targets and results, we are excited by the findings of the first targeted uranium fieldwork,” Lambrechts says.
The Mt Isa Project, covering 2,003km2, lies near the city of Mount Isa in Queensland.
The Mount Isa region is considered one of the world’s most premier exploration and mining locations – hosting extensive mining-oriented infrastructure, numerous mines and processing facilities, water and power utilises, as well as transport connections.
Uranium futures in the US rose to US$76.5 ($116.72) per pound, as reported by Trading Economics.
Antares Metals is a junior mineral explorer primarily focused on discovering copper and uranium deposits within Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Antares Metals
