Antares Metals (ASX:AM5) will target a new zone of copper mineralisation at Marvel in phase three drilling, following its discovery in phase two at the Surprise Copper Project in northwest Queensland.
The company says it is committed to expanding the mineralised envelope of the Surprise project area with the new discoveries to undergo further drill testing during a third phase of drilling on the project.
A reverse circulation drilling program spanning 1,384m uncovered copper mineralisation at the Marvel target, intersecting 80m in width of disseminated sulphide and chalcopyrite mineralisation at drillhole ASD015, which is 1.2km north of Surprise.
Antares has noticed distinct differences in the mineralisation, separating it from the “high-grade” mineralisation identified at Surprise Copper Mine. Antares says the Marvel target is potentially analogous to Aeris Resources’ (ASX:AIS) Barabara deposit, holding the same type of mineralisation.
The company will test this discovery in phase three of drilling following the return of phase two assay results, expected in the next five to six weeks.
Meanwhile, several drillholes in the program intersected copper mineralisation below the Surprise extensional trend, including intersections of 2m @ 2% copper identified through portable x-ray fluorescence at drillhole ASD008.
CEO Johan Lambrechts says the extensional target might more than double the prospects mineralisation potential, while Marvel represents potential for a “large-scale” target.
“We now have two separate and very encouraging targets to test with a third phase of reverse circulation drilling,” Lambrechts says.
The company believes the extensional trend is still mineralised, as following results from drillhole ASD013 that indicates a 17m wide zone of elevated mineralisation just 1km north of Surprise
“Field activities have commenced on other prospects in our tenure, including Conglomerate Creek, and we look forward to updating our investors with activities and results as we progress,” Lambrechts says.
Antares advises that the company may increase activity on its Queens Gift uranium project, following recent updates in the uranium market.
Mining.com.au reported a boost in value for uranium miners last week (26 May), following the US’ work towards progressing its nuclear industry. Junior explorer GTI Energy (ASX:GTR) saw a rise of 25% to $0.005 on the tail of the news.
Antares Resources is an exploration company with 2,003km2 landholding, focused on the development of copper and gold projects.
Write to Maddison Elliott at Mining.com.au
Images: Antares Resources
