Market Alert: Global Sell-Off Extends: Liquidity Fears and Growth Concern Dominate
Antares Metals Ltd (ASX: AM5) has launched a 1,000-metre reverse circulation (RC) drilling program at its Queens Gift uranium site, located within the Mt Isa North Copper and Uranium Project area in northwestern Queensland. The program is designed to extend the known uranium mineralisation envelope down dip and to validate historical data for upgrading the project’s existing 1.7Mlb U₃O₈ resource, currently classified under JORC 2004, to a JORC 2012-compliant mineral resource.
The Queens Gift deposit, located 80km north of Mt Isa, shares geological similarities with Paladin Energy’s Valhalla Uranium Deposit, featuring steeply dipping mineralised zones associated with hematite, albitite, carbonate, and magnetite alteration. This initial drilling phase will test mineralised zones approximately 40m below previous intersections, targeting potential extensions along an interpreted en echelon fault structure. The program also sets the groundwork for broader exploration across Antares’ uranium portfolio, including the Skevi1 and B8A2 prospects.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
