What Does Antares Metals' (ASX:AM5) Maiden Drilling at Quinns Reveal About Shallow Gold Potential?

Sonal Goyal

05 November 2026 06:37 PM AEDT

What Does Antares Metals' (ASX:AM5) Maiden Drilling at Quinns Reveal About Shallow Gold Potential?

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Key Highlights

• Antares Metals (ASX:AM5) has received first assays from its maiden aircore drilling program at the Quinns Gold and Copper-Zinc-VMS Project in Western Australia's Murchison region.

• All six holes drilled south of historical drilling at the Enterprise prospect intersected gold, including 6m at 3.11 g/t Au from surface in hole QNAC015.

• Drilling at the Venture prospect has confirmed anomalous gold beneath the western portion of a 600m by 250m soil anomaly, with assays from the higher-grade core still pending.

• Assays remain pending for an additional 36 holes testing the higher-grade portion of the Venture anomaly and extensions to known Enterprise mineralisation.

Antares Metals Ltd (ASX:AM5) has reported the first assay results from its maiden aircore drilling campaign at the Quinns Gold and Copper-Zinc-VMS Project, located in the Murchison region of Western Australia. The initial 16-hole program has delivered encouraging results, with every hole drilled south of the historic Enterprise mine intersecting gold mineralisation from surface.

Drilling Results South of Enterprise

Six aircore holes — QNAC011 through QNAC016 — were drilled on an east-west line south of historical drilling at the Enterprise prospect, testing the southern extensions of known mineralisation on Mining Lease M51/19, where Antares is earning a 90% interest. The results, announced on 5 November 2026, include several notable intercepts from 3-metre composite sampling.

The headline result came from hole QNAC015, which returned 6m at 3.11 g/t Au from surface, including 3m at 4.43 g/t Au from 3m, associated with ferruginous clays and a 4-metre wide quartz vein. Hole QNAC012 delivered 3m at 3.33 g/t Au from 12m at the lower contact of a 2-metre wide quartz vein, while QNAC011 returned 3m at 0.98 g/t Au from 21m associated with a massive quartz vein.

Anomalous gold was also intersected from surface in all six holes, associated with ferricrete, clays, and minor quartz veining, indicating potential for near-surface lateritic gold mineralisation within the top 6 metres from surface.

Historical Context at Enterprise

The Enterprise prospect hosts a series of historic workings within M51/19 that were previously drilled by St Barbara Mines Ltd and Silver Swan Group. Historic Reverse Circulation Drilling returned shallow mineralisation from surface, including 9m at 3.18 g/t Au from surface in NW002 and 2m at 6.72 g/t Au from surface in QN10. The latest results extend the known mineralised footprint and confirm continuity of quartz vein-hosted gold at shallow depth south of the existing workings.

The Venture Anomaly

In addition to the Enterprise work, the first ten holes across the western part of the 600m by 250m Venture anomaly intersected anomalous near-surface gold, quartz veining, and banded iron formation beneath cover. These results indicate the soil anomaly reflects a genuine bedrock gold source rather than surficial enrichment. Assays are pending from an additional 36 holes testing the higher-grade core of the Venture anomaly, where soil values peaked at 1,570 parts per billion gold.

The company has completed a total of 57 holes for more than 2,100 metres across the two targets. Managing Director Terry Topping described the completion of the maiden drilling program as an important milestone for Antares.

Exploration for copper mineralisation is also ongoing at Quinns, with airborne magnetics, ground gravity, and induced polarisation survey programs planned.

What Lies Ahead

Antares Metals' initial drilling at Quinns has established gold mineralisation extending south of the historic Enterprise mine and confirmed the Venture soil anomaly as a bedrock-hosted gold target. The pending assays from 36 additional holes — covering the higher-grade portions of the Venture anomaly and Enterprise extensions — will be pivotal in determining the scale and continuity of the gold system. With copper exploration also planned, the Quinns Project is shaping up as a multi-commodity opportunity in the Murchison goldfields that could see further delineation work in coming quarters.

FAQs

Q: Where is the Quinns Gold and Copper-Zinc-VMS Project located?

A: The Quinns Project is located in the Murchison region of Western Australia.

Q: How many holes did Antares Metals drill in its maiden program at Quinns?

A: Antares completed 57 holes for more than 2,100 metres across the Enterprise and Venture prospects, with assays reported for the first 16 holes and 36 additional assays still pending.

Q: What was the best gold intercept from the drilling south of Enterprise?

A: The best result was 6m at 3.11 g/t Au from surface in hole QNAC015, including 3m at 4.43 g/t Au from 3m.

Q: What is Antares Metals' interest in the Enterprise mining lease?

A: Antares is earning a 90% interest in Mining Lease M51/19, which hosts the Enterprise prospect.

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