REG - New Frontier Mineral - Updated JORC Exploration Targets at Copper Project
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RNS Number : 9185T New Frontier Minerals Limited 23 February 2026
New Frontier Minerals Limited / Index: LSE & LSE / Epic: NFM / Sector:
Industrial Metals and Mining
23 February 2026
New Frontier Minerals Limited
("NFM" or the "Company")
Exploration Targets Demonstrates Significant
Potential at NWǪ Copper Project
New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce updated
JORC Exploration Targets (to the standard of Clause 17 of the 2012 JORC Code)
across 14 prospects within NWǪ Copper Project, located in the Mt Isa region
of northwest Ǫueensland.
Highlights
· High-tenor, strike-extensive copper and in several cases Cu-Pb-Zn
anomalism, supported by a combination of geophysics, geochemistry, and
historical drilling underpins the potential for further characterising
structurally controlled copper deposits within the NWǪ Copper Project
· New Frontier's geology team has delineated 14 priority prospects
within the NWǪ Copper Project (Mt Isa region, Ǫueensland) which holistically
demonstrates significant exploration potential
· The geology team's proposed development pathway comprises the
following steps:
o Secure the mining lease over the Big One Deposit (MRE: 2.1Mt @ 1.1% Cu for
~21kt copper metal) 1, which is currently under review by the Ǫueensland
regulator
o Leveraging the alignment with Austral Resources (ASX:AR1), formalise a
revenue sharing arrangement to have copper ore processed at the Mt Kelly
facility(2)
· Future development work across the NWǪ Copper Project, which could
create significant
· incremental value for shareholders, includes:
o Progressing RC and diamond drilling campaigns at the Big One and Big One
North Deposits to potentially extend known mineralisation and upgrade the
current MRE(3,4)
o Site visits to the 14 other under-explored priority prospects to ascertain
their potential to host copper deposits
Chairman Gerrard Hall commented: ""The Exploration Targets underscore the
substantial potential scale and depth of opportunity across the NWǪ Copper
Project. Moreover, they clearly demonstrate significant exploration potential
beyond the Big One Deposit.
New Frontier's initial focus is to secure a mining lease over Big One Deposit
and formalise a copper ore processing agreement with Austral Resources to
utilise its Mt Kelly facility. In due course, the development pathway
comprises fully developing the Big One Deposit, then explore the remaining 13
prospects to determine their potential to host copper deposits. Collectively,
this work highlights the NWǪ Copper Project's potential to have multiple
copper deposits with a clear production pathway, that could generate
significant value for shareholders."
EXPLORATION TARGETS
The updated Exploration Target1 estimate ranges from 12-58 million tonnes (Mt)
@ 0.3-1.5% Cu, representing circa 50,000-473,000t of contained copper. This
has been defined across 14 priority prospects within New Frontiers' NWǪ
Copper Project, Mt Isa region, Ǫueensland (Table 1).
Target Cut off Low Range High Range Grade Grade Containe Containe
% Tonnage (Mt) Tonnage (Mt) (%) (%) d Cu (t) d Cu (t)
Prospects Cu Low High Low High Low High
Eldorado South and 0.2 3.0 13.3 0.3 0.6 9,000 79,800
North
Big One Deposit 0.5 2.0 6.0 0.6 1.0 12,000 63,000
Mt Storm2 0.5 0.5 3.7 0.5 1.5 2,500 55,500
Johnnies 0.3 1.0 4.5 0.4 0.8 4,000 36,000
Crescent 0.3 0.5 4.0 0.4 0.8 4,000 32,000
The Wall 0.5 0.5 3.6 0.3 0.9 1,500 32,400
Flapjack 0.5 0.5 3.6 0.4 0.8 4,000 32,000
Pancake 0.5 1.0 4.4 0.4 0.7 4,000 30,800
Crescent East 0.3 0.5 3.0 0.4 0.8 2,000 24,000
Valparaisa 0.2 1.3 3.5 0.2 0.5 2,600 17,500
Pandanus Creek 0.5 0.2 2.2 0.3 0.8 600 17,600
Black Mountain 0.5 0.2 1.7 0.5 1.0 1,000 17,000
Arya 0.5 0.3 1.8 0.5 0.9 1,500 16,200
Big One North 0.2 0.2 1.7 0.5 1.0 1,500 15,300
Amanda 0.1 0.1 0.9 0.2 0.5 200 4,500
11.8 57.G 0.5 0.G 50,400 473,600
Table 1: Exploration Target1 (#_bookmark0) Summary Ranges for Copper
Note: (2) Previously mined at Mt Storm 1,100t @6% Cu5
The updated targets reflect a comprehensive technical review of historical
open file datasets, combined with exploration data generated by the NFM since
2018 (6,7). This work builds on earlier ROM Resources studies and incorporates
subsequent prospect ranking exercises completed internally between
2023-2025(8,9)
Cautionary Statement(1)
It should be noted that the Exploration Target tonnage ranges quoted above are
conceptual in nature and there has been insufficient exploration to define a
copper resource. Although a preliminary analysis was undertaken, insufficient
data exists to confidently correlate mineralised horizons within the
Exploration Target area. It is uncertain whether further exploration may lead
to the reporting of a JORC-standard resource however there is some evidence to
support the current exploration tonnage calculations, and the sufficient
mineralised thicknesses interpreted from historical drilling to warrant
further investigation in some areas.
CURRENT WORK
The purpose of this extensive study was to highlight and prioritise prospects
across New Frontier Minerals' NWǪ Copper Project (PROJ0221) in the Mt Isa
Region of Northwest Ǫueensland (Figure 1 C 2), using available open file
historical data and that generated by NFM (previously Castillo Copper Limited)
since 2018 for each prospect as of the 1st of January 2026. This study
represents an update to work completed by ROM Resources in 2019-2020 and
various ASX releases during 2020. Recently, a comprehensive ranking exercise
was completed in 2023 and reported to the ASX(5) that provided additional
information.
New Frontier has applied a systematic approach that has included mapping,
geochemistry, and geophysics to identify, define and prioritise multiple drill
ready targets. Targets consist of up to 100- 500m long, 5-20m-wide gossanous
breccias with strongly anomalous copper and key geochemical pathfinders (Ag,
Co, As, Sb, Bi). These targets are hosted in two structural clusters, 15km
apart, bisected by a major, northeast-trending unnamed regional fault.
Figure 1: NWQ Project Area and Active Neighbours
NWQ COPPER PROJECT - KEY PROSPECTS
REGIONAL GEOLOGY HIGHLIGHTS COPPER PROSPECTIVITY
TThe NWǪ Copper Project lies at the northern limits of a block of Haslingden
Group volcanic and sedimentary rocks including the Eastern Creek Volcanics
which lie within a large north-trending graben structure (Leichhardt River
Fault Trough), forming a north plunging complexly faulted anticline. The
Haslingden Group forms the basement to sedimentary rocks which include the
Mount Isa Group (Blake, 1987) (Domagala, Southgate, McConachie, C Pidgeon,
2000) (Page C Sweet, Geochronology of basin phases in the western Mount Isa
Inlier, and correlation with the McArthur Basin, 1998) (Southgate, Neumann, C
Gibson, 2013).
The Mount Gordon Fault, a major structural element in the Mount Isa Inlier,
bounds the Leichhardt River Fault Trough to the west. The Leichhardt River
Fault contains the most significant of the Proterozoic base metal deposits in
the Inlier including those at Mount Isa and Hilton (George Fisher). Other
deposits including those at Mount Gordon and Mount Oxide lie within the Mount
Gordon Fault Zone itself. A north-east trending branch of the Mount Gordon
Fault passes to the east of the NWǪ Copper Project (Figure 3).
Younger Proterozoic sedimentary rocks occur along both the eastern and western
margins of the Leichhardt River Fault Trough and between the faulted
'segments' of the Haslingden Group rocks. These marginal sedimentary rocks
commonly host mineral deposits probably for two reasons: the sedimentary rocks
are adjacent to the faulted margins of the graben structure where there has
been greater fluid flow and, the sedimentary rocks were being laid down during
a major mineralizing episode. Most of the rocks that are equivalent to the
Mount Isa Inlier host sedimentary rocks have been removed by erosion of the
Leichhardt River Fault Trough (Wilde, 2011).
Within the vicinity of the Big One Copper Deposit, small areas of Mount Isa
Group equivalent rocks exist in narrow synclinal areas. These lie under a
shallow cover of Mesozoic and Cainozoic sedimentary rocks in the northern
portion of the area (Figure 3).
EXPLORATION RATIONALE
Several copper prospects and indications of copper mineralisation are known in
the area,
mineralisation styles vary, namely:
· Structurally controlled Cu (IOCG)
· Sheared-hosted sedimentary rocks Cu-Au
· Stratiform Pb-Zn; and
· Unconformity-hosted U
Almost without exception, copper mineralisation is hosted within the upper
rock units of the Paradise Creek, Ǫuilalar, and Surprise Creek Formations.
The latter is a unit consisting of laminated shales and siltstones, often
carbonaceous and graphitic, dolomitic silty sandstone, in places
stromatolitic, and quartzites with interbedded argillite and sandstone. The
unit is prominent as weak anomalies on regional airborne AEM surveys.
Regionally, this unit is preferentially weathered and outcrops poorly and is
often covered in quartzite scree from the overlying Warrina Park Ǫuartzite.
Minor occurrences of copper mineralisation are also reported from the
Whitworth and Warrina Park Ǫuartzite usually in the form of turquoise (copper
phosphate).
Figure 3: NWQ Project - Regional Tectonic Domains(10)
RESOURCE TABLE
Each Exploration Target2 estimate is supported by sufficient geological,
geophysical, geochemical, and occasional sparse drilling data to constrain
scale and tenor. Full details of the target generation methodology, data
validation, and estimation approach are provided in Appendix 1 through to 4 in
accordance with the JORC Code (2012).
An Exploration Target range (to standard of Clause 17 of the 2012 JORC Code)
has been estimated for 14 copper prospects (Big One, Eldorado North and South,
Pancake, Mt Storm, Crescent, Crescent East, Valparaisa, Arya, The Wall,
Flapjack, Johnnies, Amanda, Pandanus Creek, and Black Mountain; Tables 1, 2 C
3) by ROM Resources and some previously reported internally by R3D Resources
(Biggs and Reed 2022).
Note these Exploration Target2 (#_bookmark1) estimates are in addition to the
small JORC Indicated and Inferred MRE (Table 4) previously reported at Big One
Deposit (Biggs 2022, Paull 2022). Moreover, the 14 Exploration Targets provide
a preliminary estimate and base position for future development.
Cautionary Statement(2)
It should be noted that the Exploration Target tonnage range quoted above are
conceptual in nature and there has been insufficient exploration to define a
copper resource. Although a preliminary analysis was undertaken, insufficient
data exists to confidently correlate mineralised horizons within the
Exploration Target area. It is uncertain whether further exploration may lead
to the reporting of a JORC-standard resource however there is some evidence to
support the current exploration tonnage calculations, and the sufficient
mineralised thicknesses interpreted from historical drilling to warrant
further investigation in some areas.
Source: Maiden Mineral Resource Estimate 2.1Mt @ 1.1% ASX Release 28 February
2022
Notes:
Mt Storm previously mined was 1,100t @6% Cu, in the mid-nineties (4).
Anomalous Gold, and Cobalt also at Mt Storm, Amanda, and Flapjack.
Cautionary Statement(3)
It should be noted that the Exploration Target tonnage range quoted above are
conceptual in nature and there has been insufficient exploration to define a
copper resource. Although a preliminary analysis was undertaken, insufficient
data exists to confidently correlate mineralised horizons within the
Exploration Target area. It is uncertain whether further exploration may lead
to the reporting of a JORC-standard resource however there is some evidence to
support the current exploration tonnage calculations, and the sufficient
mineralised thicknesses interpreted from historical drilling to warrant
further investigation in some areas.
The total insitu contained copper is approximately 22,000 t (Table 3).
Separately, if one considers the low range of the Exploration Targets that is
approximately 50,000 t (Table 1).
INDIVIDUAL SUMMARIES
At the Eldorado South Copper Prospect surface sampling campaigns have returned
up to 5,400ppm Cu in rock chip samples, suggesting the presence of
structurally controlled copper-gold system. Moreover, this may be linked to a
major NNE trending fault. The interpreted anomalous zones should be
prioritised for follow-up field work and potentially drilling in Ǫ3 2026.
The Pancake Prospect has Mt Isa style mineralisation potential. Soil samples
along an east-west trending anomalous zone delivered positive readings for
zinc-lead-copper mineralisation with peak values for rock chips up to 7,100ppm
Zn, 2,000ppm Pb and 670ppm Cu. As these reconcile favourably with two (2)
sub-surface anomalies identi6ed with ground geophysics, they are priority
targets to be test-drilled incrementally.
At the Big One Deposit three (Figure 2) exploration campaigns have been
conducted which has produced an Inferred MRE of 21,556kt contained copper. An
Exploration Target1 that ranges between 2 to 6Mt and 0.6 to 1.0% Cu for a
mid-range of 30,000 insitu tonnes Cu has also been estimated using available
geophysics C geochemical data (Figure 4). A planned Stage 3 drilling campaign,
comprising infill C testing a sizeable conductor north of the line of lode
should extend known mineralisation plus increase the confidence / grade of the
current MRE has recently been scoped by infill soil and rock chip sampling
completed during August 2024 (Logan 2024).
Also, some 300m to the north is the Big One North extension (Figures 5 and 6),
with a small wireframe target (up to 120m in length) based on IP conductivity
shells of >8 mv/v and scattered rock chip mapping. This has an estimated
range of 0.2 to 1.7Mt and grade 0.3 to 0.9% Cu. As with Big One, drilling is
planned for Ǫ3 2026.
Note: Coordinate System is MGA2020-Z54S
The Valparaisa Copper Prospect consists of copper mineralisation in two
horizons over a 6km strike event. Previous explorers, including BHP, found
rock chips with up to 2,530ppm Cu. Reconciling this against the interaction of
two intersecting faults suggest a structurally controlled copper system that
could be drill-tested. R3D Resources had estimated a range of 1.3 to 3.5Mt and
grade 0.2 to 0.5% Cu.
At the Arya Prospect there is a significant magnetic anomaly, south of a known
graphite system, which shows potential to be a primary source of copper
mineralisation. Further field work is necessary to determine the relationship
between the structure and mineralisation, prior to a proof- of-concept
campaign to drill-test the magnetic anomaly.
At the Mt Storm Copper Prospect previous small scaling mining extracted
approximately 1,100t of ore with a head grade at 6% Cu. Subsequent fieldwork
found copper-cobalt at surface with gold nearby which could form part of a
structurally controlled system along a porphyry dyke. Further fieldwork is
required, and a small reverse circulation (RC) drilling campaign is
recommended if compelling evidence is found.
The Black Mountain Copper Prospect was the subject of company rock chip
sampling in late 2021, which returned anomalous copper values up to 940ppm
from the ferro-manganiferous outcrop. Further follow up surface sampling and
geophysics campaigns to identify potential targets for drill- testing are
recommended.
The Wall is a Mt Isa-style Copper/Lead/Zinc Prospect, having an anomalous zone
400m long by 225m wide with soil samples that assayed up to 7,163ppm Zn,
2,023ppm Pb and 1,464ppm Cu coincident with an airborne GEOTEM conductor.
The Flapjack Copper Prospect saw MIM complete a range of geological
investigations, including extensive surface sampling campaigns at the Flapjack
prospect but no drilling. Bear in mind the best gold assay at Crescent is
170ppb Au for a stream sediment sample that showed visible panned gold). There
were consistently elevated gold values than the Crescent prospect - the IOCG
alteration appear to be closer to where IOCG "ore forms" or is situated in the
IOCG mineral system - Tick Hill had been located following up a 7ppb stream
sediment anomaly, Tick Hill is a unique deposit, but it falls within the IOCG
spectrum of deposits. A total of 31 rock chip samples were collected over the
Flapjack Prospect grid with the highest values of 606ppm Cu, 404ppm Pb, 463ppm
Zn, 4.3ppm Ag and 1.37ppm Au.
The historical reports indicate that the there is "red rock"- "green rock"
alteration, the petrographic reports should be examined in detail, and if
possible, compared to the distinct similar style of observed altered rock at
Tick Hill. Tick Hill is an IOCG deposit and there are papers published on its
"discovery" (attention should be directed towards visible alteration, surface
sample assay values, etc, to compare/contrast what is at Flapjack).
An aerial GEOTEM geophysical anomaly exists to the south-west of the Flapjack
prospect. A review of this and other geophysical RTP and TMI surveys should be
completed - as it is possible that potentially, when considering the other
datasets, that geophysical-geochemical-alteration anomaly exists in proximity
to the Flapjack prospect data sets.
The Pandanus Creek (previously called Camel Back East) and Johnnies prospects
are similar in that they are shear-hosted copper-lead-zinc deposits with rock
chip assays up to 59,100ppm Cu, 9,500ppm Zn and 45,000ppm Pb. In addition, at
Jonnies two 16m long costeans were constructed, mapped, and sampled which
produced similar values from a 5m composite sample. Complementing the
geochemical work, an induced polarisation ground survey identified two
anomalies: one with a low phase response that is potentially sulphide
mineralisation continuing down plunge, while the other is a north-trending
downwards plunging anomaly, neither of which have been drilled.
Crescent and Crescent East prospects includes a zone of structurally
controlled east-northeast trending haematitic-quartz veins, that appear to be
situated along trend from the Crescent Prospect. Identification of
haematitic-quartz veins laced with gold, and other alteration features are
arguments for IOCG mineralisation. Cu-Au mineralisation could be related to
structurally controlled mineralisation associated with the fault zone and/or
stratabound copper. Skarn alteration identified to the north of the fault in
the dolomites, dolomitic breccias, with the Ǫuilalar Formation sandstone and
quartzite, is distinctly different alteration to the chlorite alteration
mapped.
Amanda was identified as a quartz shear vein (150m by 5m wide) associated with
an easterly- trending fault within the Lochness Formation. Gold values as high
as 4ppm in soil sampling led to the drilling of five south-dipping shallow RAB
holes that failed to find elevated gold values above 100ppb, but did intersect
copper values as high as 3,000ppm.
SAMPLING TECHNIQUES
Over the 40-odd years of modern exploration has resulted in a wide diversity
of methodologies
employed.
Regional Magnetics
The 100m line spacing and 60 vertical clearances reported for the available
dataset is of sufficient density.
Gradient Array Induced Polarity
At Pancake the 100m line spacing and 25m dipole spacing, as well as
perpendicular orientation of
the survey lines is of high-quality and more than sufficient.
Surface Geochemistry
Surface stream sediment, soil and rock chip samples have been collected by
MIM, BHP, CST Minerals, and other explorers generally a different spacings
depending upon the deposit (for soil 100m spaced lines, <20m spacing) are
of sufficient density for the purposes reported here. Closer line spacing is
required in some areas.
Rock chip sampling at Black Mountain is of sufficient density for the purpose
of report. Additional work is still required to close of the anomaly(s).
Sample data of Crescent, Pancake, and Eldorado is of high-density and
sufficient for the purpose reported here. Analyses collected over Crescent are
sufficient to identify strike extension of surficial anomalism, while more
work is still required to define the width of anomalism, and additional strike
orientation.
Conventional Soils
At many of the Prospects 25m x 100m line spacing extending to 25m x 400m at
extremities of the grid. Sample spacing is suitable for the definition of the
anomaly for further exploration interrogation. Further work is planned to
improve the definition of the anomalism.
Costean and Mullock Composites
Costean mapping and sampling and collection of mullock composite samples at
Johnnies reported
here are of sufficient density for the purpose in which is reported and used.
Drilling
Drilling at the Pancake Prospect is broadly-spaced along strike (~120m), and
40m spaced in section which has been sufficient in the reporting of the
inferred resource. Additional resource definition drilling is planned for Mt
Storm and The Wall. Downhole logging is regular 1m intervals and is
sufficient. Exploration RC drilling at Amanda and Valparaisa is exploratory in
nature. Downhole sampling of 4m composites is sufficient for initial
exploratory drilling.
SAMPLE ASSAY
For the various drilling programs will be composited every two or four metres
and all samples were collected to maximise optimal representation for each
sample. In all cases for the historical drilling sampling was not continuous
and narrow in scope (Cu, Pb, Zn, As, and sometimes Au (e.g. Amanda).
Each metre sample had an amount removed for washing and cleaning and sieving
then place into metre allocated chip trays. These chips were logged on site by
the rig geologists and those logs have been saved into a spreadsheet and
stored on the Company server. Any visible mineralisation, alteration or other
salient features were recorded in the logs. Industry-wide, acceptable,
standard practices were adhered to for the drilling and sampling of each metre
as per the Drilling and Sampling Procedures set out before commencement of the
drilling program, although drilling pre 1998 did not include ǪA/ǪC checks
for the laboratory assays.
Any reporting of significant mineralised intervals was on a received apparent
thickness x interval calculation (i.e., thickness averaged). All geochemical
samples to be laboratory assayed are uniquely numbered and dispatched via
courier to ALS Mount Isa where they are logged into the laboratory system on
delivery. From there, the prepared samples are freighted to Townsville or
Brisbane laboratories, where they underwent analysis using varying techniques
developed over time.
CUT-OFF GRADES
Copper cut-off grades varied per deposit/prospect was assumed for potential
open pit material down to 60 m below the surface. Below this level the
stripping ratio is likely to be too high for open pit extraction. These
cut-off grades are preliminary in nature and are subject to confirmation by
feasibility work on the project.
CLASSIFICATION CRITERIA
Insufficient data exists at all Prospects investigated to preclude Mineral
Resource classifications being assigned. At Big One a block model was
generated only for the main deposit and not the northern extension. At Big
One, Inferred resource blocks required the closest sample within 55m on the
second pass, an average sample distance <35m, and a minimum of three
drill-hole samples, with the remaining blocks between 80-190m, previously
unreported, have now been assigned to an Exploration Target4.
RESOURCE ESTIMATE
Due to the lack of both volume and sufficient spacing of drilling data, even
at prospects that have drilling, no JORC-standard Resources are possible to be
estimated. Certainly, at Big One and Big One North, a well-placed drilling
program has the potential to greatly increase this number and confidence
class, as the deposit is open to the north, east, and downdip. Estimates of
mine stockpiles at Mt Storm have not at this time been included, as detailed
drone-based surveying will be required to assess their extent more accurately.
All the Exploration Targets4 (#_bookmark3) tabulated are generally calculated
at depths of <80m below ground, and hence it is likely that any insitu ore
will be partially to completely oxidised.
METHODOLOGY
For Exploration Targets4 estimated (to the standard of Clause 17 of the 20212
JORC Code) the
following methodology was applied:
Except for Big One Deposit where a wireframe or enclosing shell was generated
surrounding the Inferred Resource shell, all other estimations were based on
simple geometric shapes of the form:
Length (m) x width (m) x depth (m) x density (Kg/m3)
to obtain wireframe volumes then mass (tonnes) across a reasonable minimum and
maximum range.
Except for Big One Deposit where core has been tested for specific gravity,
following global average density of 2.2 g/cc for oxidized material, 2.55 for
partially weathered rock and 2.75 for fresh rock was used to estimate total in
situ tonnes with no constraints.
(4) It should be noted that the Exploration Target tonnage ranges quoted above
are conceptual in nature and there has been insufficient exploration to define
a copper resource. Although a preliminary analysis was undertaken,
insufficient data exists to confidently correlate mineralised horizons within
the Exploration Target area. It is uncertain whether further exploration may
lead to the reporting of a JORC-standard resource however there is some
evidence to support the current exploration tonnage calculations, and the
sufficient mineralised thicknesses interpreted from historical drilling to
warrant further investigation in some areas.
Unexpected geological loss mainly due to faulting and discontinuous
mineralisation over large distances between any drillholes used, expressed as
a % deleted from the original insitu tonnages estimated. Typically, loss of
20-60% was applied.
Where quoted, it should be noted that where Exploration Target tonnages are
estimated in the report, they are considered non-JORC and are conceptual in
nature. There has been insufficient exploration to define an MRE and that it
is uncertain if further exploration will result in the determination of an
MRE.
Some surface and rare drilling assay data within the project area was
uncovered in historical reports. Big One Deposit and Mt Storm and to a lesser
degree Valparaisa and Black Mountain have been previously mined. Scattered
historical drilling was conducted at Amanda, Pancake, Johnnies, and
Valparaisa.
Although a preliminary analysis was undertaken, insufficient data exists to
confidently correlate mineralised domains and generate a grid mesh or block
model. It is uncertain whether further exploration may lead to the reporting
of a JORC-standard resource however there is some evidence to support the
current exploration tonnage calculations, and the sufficient surface and
downhole thicknesses interpreted from historic drilling to warrant further
investigation in some areas.
CONCLUSIONS
In summary the top five prospects (Big One Deposit (and Big One North), Mt
Storm, Eldorado South, the Wall, and Pancake) require further fieldwork to
firm locations for small confirmatory RC drilling programs. In the case of Big
One Deposit, further deep drilling along the line of lode is expected to
encompass diamond drill core drilling with further metallurgical sampling.
STRATEGY
· Assessment of priority NWǪ prospects and targets for drilling.
· Continue engagement with the Ǫueensland Natural Resources and Mines
Department as the Big One Deposit MLA advances through the technical
assessment.
· Progress assessment of priority mining areas and historical stockpiles
outside the current
· Mineral Resource Estimate.
· Receive and assess assay results from the Harts Range Heavy Rare
Earths drilling program
and continue to improve the beneficiation process with Metallium.
· Expand OTC investor outreach to improve market visibility of core
assets.
ENDS
This announcement was approved for release by the Board of New Frontier
Minerals Ltd.
REFERENCES
1. Maiden Mineral Resource Estimate 2.1Mt @ 1.1% Cu (21,886t) for Big
One Deposit - ASX announcement,
28 February 2022. (Refer to Appendices 1-4).
2. Strategic alliance with Austral Resources to process NFM copper ore -
ASX announcement, 21 January
2025.
3. Copper Recovery Testing Supports Mt Kelly Pathway and MOU with
Austral Resources - ASX
announcement, 3 July 2025.
4. Plans Underway to Fully Develop the Big One Deposit in the
World-Class Mt Isa Copper Belt - ASX
announcement, 14 May 2024.
5. Csar, M., 1996, Big One and Mt Storm Copper Deposits, unpublished
report by Aberfoyle Limited for Coffee Gold NL, 8pp.
6. Major copper discovery at Big One Deposit extended - ASX
announcement, 10 February 2021.
7. Surface assays increase priority copper target area at Big One
Deposit - ASX announcement, 29 October 2024.
8. Biggs, M.S., and Reed G., 2022, NWǪ Copper Project, Mt Isa Region,
Ǫueensland, Target Generation, unpublished report by ROM Resources and R3D
Resources Limited for Castillo Copper Limited, October 2022, 51pp.
9. North-West Ǫueensland Copper Project, Over Twenty Prospects
Delivering Exploration Upside, ASX
Release, Castillo Copper Limited, 30th March 2023.
10. Depositional systems in the Mt Isa Inlier from 1800 Ma to 1640 Ma:
Implications for Zn-Pb-Ag mineralisation. Australian Journal of Earth
Sciences, 60(2), 157-173. Southgate, P.N., Neumann, N.L. C Gibson, G.M. (2013)
For further information, please contact:
New Frontier Minerals Limited +61 8 6558 0886
Gerrard Hall (UK), Chairman
S. P. Angel Corporate Finance LLP +44 (0)1483 413500
(Corporate Broker)
Ewan Leggat +44 (0) 20 7409 3494
St Brides Partners Ltd +44 (0)20 7236 1177
(Financial PR)
Ana Ribeiro and Charlotte Page
About New Frontier Minerals
New Frontier Minerals Limited is an Australian-based focussed explorer, with a
strategy to develop multi-commodity assets that demonstrate future potential
as an economic mining operation. Through the application of disciplined and
structured exploration, New Frontier has identified assets deemed core and is
actively progressing these interests up the value curve. Current focus will be
on advancing exploration activity at the Harts Range Niobium, Uranium and
Heavy Rare Earths Project which is circa 140km north-east from Alice Springs
in the Northern Territory.
Other interests include the NWQ Copper Project, situated in the copper-belt
district circa 150km north of Mt Isa in Queensland.
New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".
Competent Persons Statement
The scientific and technical information in this announcement, which relates
to exploration results, preliminary sequential metallurgical results and the
geology of the deposits described, is based on information compiled and
approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian
Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the
requirements of a Competent Person as defined by the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience
relevant to Rare Earth Elements (REE), industrial mineral copper
mineralisation types, as well as expertise in the quality and potential mining
methods of the deposits under consideration. Additionally, he has 25 years of
experience in the estimation, assessment, and evaluation of exploration
results and mineral resource estimates, which are the activities for which he
accepts responsibility. He also successfully completed an AusIMM Online Course
Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM
Resources and was engaged by New Frontier Minerals Limited to prepare the
documentation for several prospects, specifically those within the Harts Range
Prospects upon which the Report is based.
Furthermore, the full nature of the relationship between himself and New
Frontier Minerals Limited has been disclosed, including any potential
conflicts of interest. Mark Biggs is a director of ROM Resources, a company
that is a shareholder of New Frontier Minerals Limited, and ROM Resources
provides occasional geological consultancy services to New Frontier Minerals
Limited. The Report or excerpts referenced in this statement have been
reviewed, ensuring that they are based on and accurately reflect, in both form
and context, the supporting documentation relating to exploration results and
any mineral resource estimates. The release of the Report and this statement
has been consented to by the Directors of New Frontier Minerals Limited. Mr
Biggs consents to the inclusion in this announcement of the matters based on
his information and supporting documents in the form and context in which it
appears.
Forward Looking Statements
Certain information in this document refers to the intentions of New Frontier
Minerals Ltd, but these are not intended to be forecasts, forward-looking
statements, or statements about future matters for the purposes of the
Corporations Act or any other applicable law. The occurrence of events in the
future is subject to risks, uncertainties and other factors that may cause New
Frontier Minerals Ltd's actual results, performance, or achievements to differ
from those referred to in this announcement. Accordingly, New Frontier
Minerals Ltd, its directors, officers, employees, and agents, do not give any
assurance or guarantee that the occurrence of the events referred to in this
announcement will occur as contemplated. The interpretations and conclusions
reached in this announcement are based on current geological theory and the
best evidence available to the authors at the time of writing. It is the
nature of all scientific conclusions that they are founded on an assessment of
probabilities and, however high these probabilities might be, they make no
claim for complete certainty. Any economic decisions that might be taken based
on interpretations or conclusions contained in this announcement will
therefore carry an element of risk. The announcement may contain
forward-looking statements that involve several risks and uncertainties. These
risks include but are not limited to, economic conditions, stock market
fluctuations, commodity demand and price movements, access to infrastructure,
timing of approvals, regulatory risks, operational risks, reliance on key
personnel, Ore Reserve and Mineral Resource estimates, native title, foreign
currency fluctuations, exploration risks, mining development, construction,
and commissioning risk. These forward-looking statements are expressed in good
faith and believed to have a reasonable basis. These statements reflect
current expectations, intentions or strategies regarding the future and
assumptions based on currently available information. Should one or more of
the risks or uncertainties materialise, or should underlying assumptions prove
incorrect, actual results may vary from the expectations, intentions and
strategies described in this announcement. No obligation is assumed to update
forward-looking statements if these beliefs, opinions, and estimates should
change or to reflect other future developments.
ASX Listing Rule 5.23.2
New Frontier Minerals Ltd confirms that it is not aware of any new information
or data that materially affects the information included in this market
announcement and that all material assumptions and technical parameters
underpinning the estimates in this market announcement continue to apply and
have not materially changed
APPENDIX 1: DEPOSIT SUMMARIES CAN BE VIEWED HERE:
http://www.rns-pdf.londonstockexchange.com/rns/9185T_1-2026-2-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9185T_1-2026-2-21.pdf)
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. END MSCTBMPTMTBTBAF
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