New Surprise copper zone no shock as Antares unlocks Queensland deposits

Antares Metals’ drilling has identified a new zone of copper mineralisation at its Surprise project that will be the target of further drilling.

Drilling at Antares Metals’ Surprise project has made a high-grade intersection that identified a new zone of mineralisation. Pic: Getty Images

• Antares Metals’ drilling has returned a high-grade 2m at 2% copper intersection at the Surprise project

• Intersection is 200m north of the historical Surprise mine and represents a new zone of mineralisation

• Future drilling will test this new area of mineralisation and other targets identified by Phase 2 drilling

Special Report: A high-grade copper intersection at Antares Metals’ Surprise project within the Mt Isa North project in northwest Queensland has identified a new zone of mineralisation 200m north of the historical Surprise mine.

Hole ASD008 – part of the second phase of reverse circulation drilling at the project – returned a 2m intersection grading 2% copper from 124m using portable XRF analysis.

While pXRF is no substitute for lab analysis, it does serve as a real-time sampling tool that can identify areas of promise.

This is true for Antares Metals (ASX:AM5) as the work has confirmed the mineralised structure extends northwards from the Surprise Mine and represents a follow-up drill target.

The new target is at least 240m long as indicated by a quartz/calcite vein mapped at the surface and is open along strike and at depth.

“The intercept achieved by ASD008 represents a fantastic new zone of mineralisation north of the Surprise Mine and opens the opportunity for AM5 to increase the scale of the project,” chief executive officer Johan Lambrechts said.

Mineralisation intersected by ASD008 and proposed Phase 3 target area. Pic: Antares Metals

Phase 2 drilling

The second phase of drilling at Surprise was designed to test three extensional targets in artisanal workings along the northern strike of the known mineralisation.

Within each target area, the drill program tested individual targets with one drill hole each, with the intention to follow up on any successful intersections with a third phase of drilling.

Hole ASD008 intersected two zones of increased copper mineralisation beneath the artisanal workings although the featured intersect of 2m at 2% copper was encountered directly beneath an outcropping quartz-calcite vein stretching for more than 240m.

AM5 notes that historical hole SMDDH3 was drilled 50m north of ASD008 but stopped before intersecting the interpreted extension of the mineralisation zone identified by ASD008.

Planned future drilling will be aimed at providing further understanding of the mineralisation characteristics and will be used for potential future testing of similar targets.

Watch StockTake: StockTake: Antares searching for copper Surprise in QLD

Next steps

Pending assay results, the company plans to execute further drilling on this new zone and any other targets identified by the second phase of drilling.

“We are eager to start planning the third phase of drilling, which will target this zone and any others identified by phase 2, after reviewing the assays in a few weeks,” Lambrechts added.

“We are planning field activities on other prospects, including Conglomerate Creek within our tenure and look forward to updating our investors with activities and results as we progress.”

The company is funded to complete the work programs for the coming season, with field activities planned on several of the prospects.

This article was developed in collaboration with Antares Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as New Surprise copper zone no shock as Antares unlocks Queensland deposits