Projects

Mt Isa North Copper-Uranium Project

The Mt Isa North Project comprises approximately 2,003km2 of granted and pending exploration tenements located near the city of Mount Isa in Northwest Queensland, Australia.

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Mt Isa North Copper-Uranium Project

A Premier Mineral Province

TThe Mt Isa North Project is a “district-scale” asset covering 2,003km2 of granted and pending exploration tenements in Northwest Queensland. The project surrounds and adjoins some of Australia’s most iconic mineral deposits, including Glencore’s Mt Isa copper mine and Paladin Energy’s Valhalla uranium deposit — Australia’s third-largest uranium resource. The region benefits from world-class infrastructure: established processing facilities, rail and road connections, commercial air services, and a skilled local workforce.

Antares is actively exploring a portfolio of high-priority copper and uranium targets across the project, with multiple prospects at various stages of field work, sampling, and drill planning.

Geological Context & Mineralisation

The project is situated along the major Mt Isa, Paroo, and Hero Fault systems—structural features that control the largest copper and zinc deposits in Australia. Antares is targeting three distinct styles of mineralisation:

  1. Sediment-hosted Copper-Cobalt: Analogous to the Mt Isa and George Fisher deposits.
  2. Iron Oxide Copper-Gold (IOCG): Targeted at the Calton Hills and Surprise prospects.
  3. Albitite-style Uranium: Focused on the Queen’s Gift and Skevi prospects.

Copper Prospects

Conglomerate Creek

Conglomerate Creek is Antares’ most advanced drill-ready copper target and the next major catalyst for the Mt Isa North Project. Field work conducted over the past 12 months has systematically de-risked a large-scale, intrusion-related copper-gold-silver system that has never been drill tested — and a maiden RC drilling program is now imminent.

The prospect is centred on a distinct 2km × 2.5km semi-circular intrusive feature identified from Antares’ 2024 UAV geophysical survey. Seven high-priority geophysical anomalies are interpreted to be associated with a buried intrusion, with structures coincident with this feature controlling the distribution of surface mineralisation across the prospect.

Critical pathfinder elements for large-scale intrusion-related mineral systems — including bismuth, tungsten, antimony, and selenium — are elevated across the prospect alongside copper, gold, and silver, strengthening the geological case for a significant buried system.

Surface Sampling — High-Grade Copper, Gold & Silver

Two mineralised vein systems have been identified and sampled above the geophysical target suite, returning exceptional surface grades (see :

At the Target 2 Vein System, a 220m-long mineralised quartz vein system returned rock chip results including:

  • 21.30% Cu, 1.72 g/t Au and 506 g/t Ag (ASR0195)
  • 1.75% Cu, 1.77 g/t Au and 52.3 g/t Ag (ASR0193)
  • 1.44% Cu, 0.58 g/t Au and 41.7 g/t Ag (ASR0192)

At the Target 5 Vein System, a 450m-long mineralised quartz vein system — with a central splay zone up to 50m wide containing at least five separate radial veins — returned:

  • 22.0% Cu, 1.57 g/t Au and 394 g/t Ag (ASR0051)
  • 8.97% Cu, 0.61 g/t Au and 218 g/t Ag (ASR0057)
Target Area 2. See AM5 ASX announcement dated 15 July 2025

Cromwell

Cromwell is Antares’ most significant recent copper discovery. In late 2025, the Company identified a previously unrecognised, district-scale mineralised structural corridor spanning over 9km in length and up to 30m wide, with all structures remaining open along strike.

Rock chip sampling returned grades up to 22.5% Cu, with 36% of samples exceeding 1% copper across multiple shear zones (see ASX Announcement dated 9 Oct 2025). The discovery was made through targeted geological field work and represents a compelling new target for systematic follow-up exploration including geophysical surveys and drill targeting.

Target Area 5. See AM5 ASX announcement dated 12 August 2025

Surprise & Startle

Surprise & Startle are structurally-hosted, high-grade copper-gold prospects of Iron Sulphide Copper Gold (ISCG) style, located approximately 80km northeast of Mt Isa. Both prospects have returned high-grade results from historical and recent drilling and sampling programs.

Significant historical drill intercepts at Surprise include (see ASX announcement dated 12 Feb 2026):

  • 3.66m @ 9.53% Cu from 22.25m
  • 23.77m @ 4.67% Cu from 51.21m (incl. 12.80m @ 7.77% Cu)

The Uranium Option

The Mt Isa North Project lies adjacent to Paladin Energy’s Valhalla deposit (148.3Mlbs @ 728ppm U₃O₈) — Australia’s third-largest uranium resource — and sits within the Mt Isa region’s recognised albitite-hosted uranium district. (See Paladin Ltd (ASX: PDN) 2025 Annual Report dated 28 August 2025).

A comprehensive prospectivity review identified 49 uranium targets across the project tenements. Ten high-priority targets have been selected for active field work, ranked on the basis of structural, radiometric, and magnetic indicators consistent with Valhalla-style mineralisation systems.

Queens Gift

Queens Gift is Antares’ most advanced uranium asset and the company’s near-term drilling priority. Located approximately 77km north-northwest of Mt Isa, the prospect outcrops as a 1.3km ridge and hosts a JORC 2004 uranium resource of 1.7Mlbs @ 330ppm U₃O₈, which the company is advancing towards a JORC 2012 classification.

Historical drilling has returned strong intercepts including:

  • 23m @ 746ppm U₃O₈ from 74m (incl. 8m @ 1,596ppm U₃O₈)
  • 31m @ 609ppm U₃O₈ from 46m (incl. 6m @ 1,133ppm U₃O₈)

Mineralisation remains open at depth and along strike. Copper mineralisation has also been confirmed at Queens Gift, with visible chalcopyrite and pyrite observed in field samples — potentially enhancing the economic profile of this advanced uranium asset.

Drilling was completed at Queens Gift in late 2025, targeting resource extension and JORC 2012 upgrade. The program intersected exceptional uranium grades including.

  • 3m @ 216 ppm U3O8 from 190m (AQD001)
  • 1m @ 796 ppm U3O8 from 212m (AQD001)
  • 20m @ 147 ppm U3O8 from 60m (AQD002) Incl 8m @ 1288 ppm U3O8
  • See AM5 ASX Announcement dated 11 March 2026

Skevi & Additional Uranium Targets

Skevi has emerged as a potentially drill-ready uranium prospect with historical rock chip results up to 0.56% U₃O₈ and shallow drill intercepts including 7m @ 0.12% U₃O₈. Additional targets including U4A, Joker, and Ecotte are advancing through field assessment and ground spectrometry programs, with further results expected.