Antares Metals Unveils Significant Copper Discovery at Surprise Project

New Copper Zone Confirms Northern Extension Potential

Antares Metals Ltd (ASX: AM5) has intersected significant copper mineralisation in its latest drilling program, confirming a substantial extension of the mineralised structure at its Surprise Copper Project in Queensland. Drill hole ASD008 has identified a new zone of mineralisation 200 metres north of the existing Surprise Mine, returning impressive results of 2.0m @ 2.0% Cu from 124m depth as indicated by portable XRF readings.

This discovery represents a significant breakthrough for the company, as it confirms the northward extension of the mineralising system and substantially increases the exploration potential of the project area.

"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," noted Chief Executive Officer Johan Lambrechts.

Second Phase Drilling Program Yields Results

The recently completed 1,384-metre RC drilling program targeted extensional areas along the northern strike of known mineralisation at Antares Metals' Surprise Copper Project. The successful intercept in ASD008 was located beneath artisanal workings and a combined magnetic/chargeability anomaly at depth.

Key findings from the drilling include:

• New mineralised zone identified 200m north of the historic Surprise Mine
• High-grade copper intercept of 2.0m @ 2.0% Cu from 124m depth
• Located beneath an outcropping quartz-calcite vein stretching for over 240m
• Mineralisation at approximately 104m vertical depth
• Opens potential for mineralisation up dip, down dip, and along strike

The company's strategic approach of testing multiple targets with initial scout holes has paid off, with plans now in place to conduct follow-up drilling on this promising new zone.

Understanding Portable XRF Analysis

The results announced by Antares Metals were obtained using portable X-ray fluorescence (pXRF) technology, which provides geologists with rapid, on-site analysis of drill samples. This technology has become an important tool in modern mineral exploration, though it's essential to understand its capabilities and limitations.

How pXRF Works:

• The handheld device emits X-rays that cause elements in the sample to fluoresce
• Device measures the energy signatures to identify elements and their concentrations
• Provides real-time, non-destructive analysis in the field
• Multiple readings taken across samples to improve reliability

For investors, it's important to understand that pXRF readings are preliminary indicators of mineralisation. Antares Metals has been transparent that these readings are "indicative of grade and mineralisation but do not represent quantitative laboratory-derived assay grades."

The company has dispatched samples to the laboratory, with formal assay results expected within the next 5-6 weeks, which will provide definitive confirmation of grades.

Exploration Potential and Future Plans

The discovery opens significant potential for expansion of Antares Metals' Surprise Copper Project. Similar to recent high-grade gold discoveries in North Queensland, this newly identified target is defined by:

Antares Metals has outlined a clear path forward:

1. Complete analysis of all phase two drill data
2. Review formal assay results (expected in 5-6 weeks)
3. Plan third phase of drilling targeting the new northern zone
4. Expand field activities to other prospects including Conglomerate Creek

The company confirmed it is fully funded to complete the planned work programs for the coming season.

Investment Implications

This discovery represents a significant development for Antares Metals as it continues to advance its Mt Isa North Project. For investors, several aspects make this announcement noteworthy:

1. Resource Expansion Potential: The confirmation of mineralisation 200m north of the existing mine significantly increases the potential scale of Antares Metals' Surprise Copper Project.

2. Systematic Exploration Approach: The company's methodical approach to testing targets has yielded positive results, validating their exploration strategy.

3. Project Development Pipeline: With multiple prospects in its portfolio, Antares Metals has established a solid pipeline of exploration targets across its 2,003km² land package.

4. Proximity to Infrastructure: Located in the well-established Mt Isa mining district, successful developments at the Surprise Copper Project would benefit from nearby infrastructure and processing facilities.

The company's multi-commodity approach within an established mining district provides investors with exposure to copper exploration in a tier-one jurisdiction. With copper prices showing strength amid growing demand for electrification and renewable energy, Antares Metals is well-positioned to capitalise on successful exploration outcomes.

Understanding Copper Exploration and Development

Copper exploration and development has become increasingly important in recent years due to the metal's critical role in the global transition to renewable energy and electrification. As one of the most efficient conductors of electricity, copper is essential for electric vehicles, renewable energy systems, and modern electronics.

The discovery at Antares Metals' Surprise Copper Project is particularly significant given the global context of copper supply and demand. New copper discoveries have become less frequent in recent years, while demand continues to rise, creating potential supply constraints in the medium to long term.

Successful copper exploration typically progresses through several stages:

1. Initial Discovery: Identification of mineralisation through surface sampling, geophysics, and initial drilling
2. Resource Definition: Systematic drilling to establish the size, grade, and continuity of mineralisation
3. Economic Assessment: Evaluation of whether the deposit can be economically extracted
4. Development Decision: Based on feasibility studies and market conditions

Antares Metals' discovery at the Surprise Copper Project represents an important step in this process, with the identification of a new zone of mineralisation that could potentially add scale to the project.

Why Investors Should Follow Antares Metals

Antares Metals represents an opportunity to invest in a focused exploration company with highly prospective copper assets in Queensland's prolific Mt Isa region. The company's recent discovery at the Surprise Copper Project highlights several compelling reasons to track its progress:

• Proven Mineralisation: The high-grade copper intercept confirms the extension potential of the project
• Strategic Location: 2,003km² of prime tenure at Mt Isa, adjoining Glencore's Mt Isa Operations
• Multiple Commodity Potential: Exploration targeting copper, zinc-silver-lead, uranium and rare earth elements
• Modern Exploration Approach: Employing advanced techniques to identify targets overlooked by historical exploration
• Fully Funded: Sufficient capital to execute planned exploration programs

With laboratory assays pending and a third phase of drilling in planning, the coming months should provide regular news flow and potential catalysts as Antares Metals continues to develop its understanding of the Surprise Copper Project and broader Mt Isa North tenement package.

The discovery of high-grade copper mineralisation 200m north of the existing Surprise Mine represents a significant step forward in demonstrating the scale potential of the project. Similar to recent copper-gold drilling results in Queensland, Antares Metals' Surprise Copper Project discovery has the potential to attract significant investor interest.

As major drilling campaigns across Australia continue to uncover valuable resources, companies like Antares Metals are positioning themselves to benefit from the increasing global demand for copper. Furthermore, with high-grade gold discoveries at various projects and powerful EM conductors being identified in resource-rich regions, the Australian mining sector continues to demonstrate its exceptional exploration potential.

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