Antares Metals (ASX:AM5) said the first phase of its reverse circulation (RC) drilling program at the Surprise project in Queensland yielded "excellent" results, with up to 15.8% copper struck, according to a Monday filing with the Australian bourse.

The program included six RC holes targeting mineralization at the Surprise mine, the filing said.

The company will complete geophysical analysis and interpretation, as well as conduct target generation and additional drill campaigns to extend the Surprise copper mineralization, per the filing.

The mining company's shares were down 8% in recent trade.