WEST PERTH: Antares Metals Ltd. (ASX: AM5) has discovered a new copper prospect, dubbed “Marvel,” located 1.2 kilometers north of its Surprise Copper Mine in northwest Queensland.
The company announced Tuesday that its second phase of reverse circulation (RC) drilling has identified multiple new mineralized targets, including an 80-meter-wide zone of disseminated sulphide and chalcopyrite mineralization in drill hole ASD015. The discovery suggests potential for a large-scale copper system, with similarities to Aeris Resources’ Barbara deposit in the Mt Isa region.
Early portable X-ray fluorescence (pXRF) results indicate at least three new targets outside the Surprise Mine, which will be investigated in the third phase of drilling. Additionally, Antares extended the known mineralization at Surprise with drill hole ASD008, which returned 2 meters at 2.0% copper.
“The second phase of drilling has been highly successful, identifying a new high-grade extensional target while also uncovering Marvel, a separate and potentially large-scale mineralization zone,” said Chief Executive Officer Johan Lambrechts. “We now have two distinct targets to explore further, with additional field activities underway.”
Antares Metals expects laboratory assay results from phase two drilling within six weeks, while fieldwork has commenced at other prospects, including Conglomerate Creek.