REG - New Frontier Mineral - Big One Site Visit &NWQ Project Tenement Expansion

New Frontier MineralsAnnouncement

30/04/2026 07:02

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RNS Number : 4845C  New Frontier Minerals Limited  30 April 2026

New Frontier Minerals Limited / Index: ASX & LSE / Epic: NFM / Sector:
Industrial Metals and Mining

 

30 April 2026

 

New Frontier Minerals Limited

("NFM" or the "Company")

 

Big One Copper Deposit Site Assessment and NWQ Project Tenement Expansion

 New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce the
upcoming site visit to the Big One Deposit with Austral Resources (ASX:
AR1)(7) and the application for approximately 585m(2) (178 sub-blocks)
adjacent and in close proximity to its existing NWQ Copper Project tenement
package in north-west Queensland. The NWQ Project is situated approximately
150km north of Mt Isa in Queensland, within one of Australia's premier copper
provinces.

 NEW FRONTIER CHAIRMAN GERRARD HALL COMMENTED: "The upcoming site visit to
the Big One Deposit with Austral Resources marks an important step in
advancing our NWQ Copper Project, providing an opportunity to jointly assess
existing stockpiles and near-surface copper mineralisation. This collaboration
is expected to further refine our development strategy and supports a clear
pathway toward potential copper production through utilisation of existing
regional infrastructure under our Memorandum of Understanding with Austral
Resources.

In parallel, the submission of the tenement application strengthens our
position around the NWQ Copper Project, consolidating our footprint within the
highly prospective Mt Isa copper belt and aligning with our strategy to build
a meaningful copper presence in one of Australia's premier base metal
regions."

 Highlights

·    Under the existing MOU11, New Frontier has scheduled an early May
site visit to the Big One Deposit with processing partner Austral Resources
(ASX: AR1), to undertake a joint inspection of historical copper oxide
stockpiles4 and evaluate near-surface mineralisation for drilling

·    Advancing MOU with Austral Resources to evaluate planning for
potential ore delivery and processing of Big One copper oxide material through
the Mt Kelly facility(7)

·    New Frontier expands its footprint at the NWQ Copper Project, in the
Mt Isa region through the submission of new exploration applications for
approximately 585m2 (178 sub-blocks), surrounding its existing tenure

·    The new tenement applications have been selected for their proximity
and geological continuity to NFM's existing tenure and leverages the Company's
expertise to build on its Inferred Copper Resource (2.1Mt @ 1.1% Cu) at the
Big One Deposit(1)

 NWQ COPPER PROJECT SITE VISIT

NFM is pleased to advise that a site visit to the Big One Deposit is scheduled
for early May 2026. Representatives from Austral Resources Ltd (ASX: AR1),
will join the NFM team to assess historical copper oxide stockpiles and
near-surface mineralisation targeted as part of the initial assessment.
Austral's involvement reflects the collaborative nature of the processing
partnership under the Memorandum of Understanding for the assessment of copper
ore treatment at the Mt Kelly Processing Facility(7).

 Historic Copper Stockpiles

Previous inspection of the historical copper oxide stockpiles(10) at the Big
One included grab sampling from the ex-mine stockpiles which has previously
returned copper grades ranging from 3.9% to 11.85% Cu, with sulphuric acid
leach test-work delivering indicative copper recoveries of up to 99%,
supporting a conventional acid leach processing pathway at the Mt Kelly
facility (Figure 1).(4)

The joint inspection will allow both parties to assess the volume and grade of
the stockpile material and evaluate planning for potential ore delivery and
processing under the existing MOU(7).

 Big One Site Visit Assessment

Additionally, NFM's geology team will carry out field assessment of potential
resource drilling locations across the Big One Deposit and surrounding areas
(Figure 2). This work is a critical preparatory step ahead of potential
drilling, with the objectives of extending the known mineralisation envelope,
upgrading the current Big One Deposit JORC Mineral Resource Estimate of 2.1Mt
@ 1.1% Cu(1), and identifying additional high-priority drill targets within
the 0-50m near-surface zone. The team will assess and document site access
routes and logistical requirements to support a resource drilling campaign.

NFM considers this site visit a significant operational milestone, marking the
Company's active transition from exploration to development planning at its
most advanced asset. The Board is focused on advancing the Big One Deposit as
rapidly as possible toward a production decision, and the outcomes of this
visit will directly inform the Company's drilling program design and
development timeline.

 Figure 1  Figure 2

 

Figure 1

Figure 2

 

Figure 1 and 2: Historical copper stockpiles(10) (Location Figure 1: 335453
mE, 7880348 mN, MGA94-Z54S) and Big One Pit 1 (Location Figure 2: 335394 mE
and 7880283 mN, MGA94-Z54S). For assay results, refer to ASX Announcement
"Copper Recovery Testing Supports Mt Kelly Pathway and MOU with Austral
Resources", 3 July 2025(4)

 NWQ COPPER PROJECT EXPANSION AND TENEMENT APPLICATION

NFM has submitted an application for approximately 585km(2) (178 sub-blocks)
at the NWQ Copper Project located in the world-class Mt Isa Inlier, within the
Leichhardt River Fault Trough, the same structural corridor that hosts the Mt
Isa, George Fisher (Hilton), and Lady Loretta base metal deposits(9).

 The tenure is directly adjacent to and in close proximity to New Frontier's
existing NWQ tenement package (Figure 3). The application has been selected on
the basis of geological continuity and close proximity in one of Australia's
premier base metal provinces. The new tenement applications expand and
consolidate New Frontier's existing landholding, leveraging NFM's technical
expertise in the region and builds on the existing footprint and Inferred
(2.1Mt @ 1.1% Cu¹) Copper Resource at the Big One Deposit.

 Figure 3: NWQ Project (granted and application) tenements and mining license
 application area

Figure 3: NWQ Project (granted and application) tenements and mining license
application area

 

 

AUSTRAL RESOURCES STRATEGIC ALLIANCE

 A formalised Memorandum of Understanding (MOU) between New Frontier and
Austral Resources was executed in January 2025 and sets the foundation for a
strategic alliance to drive copper production and deliver shared benefits11.
Combining NFM's exploration and mining expertise with Austral's advanced
copper processing facilities at Mt Kelly, creates a scalable and competitive
asset base. Under the agreement, Austral secures a consistent source of
high-grade copper ore, while NFM fast-tracks its pathway to potential
production.

 The alliance prioritises the supply of copper ore from NFM's Big One
Deposit, with the potential to expand to additional satellite targets within
the NWQ Copper Project. Further metallurgical test work will be conducted to
ensure NFM ore meets processing standards. The partnership also positions the
alliance as a strong contender within a region dominated by leading global
miners, offering strategic advantages and significant growth potential.

 NWQ COPPER PROJECT BACKGROUND

New Frontier's 100% owned NWQ Copper Project is situated approximately 150km
north of Mt Isa in Queensland, within one of Australia's premier copper
provinces. The existing tenement package spans across five granted exploration
permits (EPM 26574, EPM 26525, EPM 26462, EPM 27440 and EPM 26513).

NFM's tenure is surrounded by major explorers including Glencore, Rio Tinto
Exploration, Fortescue Metals Group and Anglo American, in a region that also
hosts active operations at Capricorn Copper, Mt Oxide, and Lady Annie. The
Mount Gordon Fault, a major structural element in the Inlier, passes to the
east of NFM's tenure and is directly associated with the Mt Oxide and Mt
Gordon copper deposits.

 The project hosts the Big One Copper Deposit, which carries a JORC
2012-compliant Mineral Resource Estimate (MRE) of 2.1Mt @ 1.1% Cu (21,886t
contained copper)(1), inclusive of surface stockpiles and near-surface copper
oxide mineralisation from surface to 50m depth.

 The Mining Lease Application (MLA) for the Big One Deposit has received
technical assessment approval from the Queensland Natural Resources and Mines
Department(5). This is a pivotal regulatory milestone toward potential
near-term copper production assessment utilising Austral Resources' (ASX: AR1)
Mt Kelly Processing Facility under NFM's existing Memorandum of
Understanding.(7)

 The project is characterised by structurally controlled copper
mineralisation and IOCG potential consistent with the Mt Isa copper-belt
geological setting.

 NFM's geology team has systematically applied mapping, geochemistry and
geophysics across the project to define an Exploration Target range  (to the
standard of Clause 17 of the 2012 JORC Code) and is estimated as 12-58 million
tonnes (Mt) @ 0.3-1.5% Cu, representing circa 50,000-473,000t of contained
copper from 14 priority copper prospects(6) across the existing tenure(6)
(Figure 4 and Appendix B).

 Cautionary Statement

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.

 

 

 

 

ENDS

This announcement was approved for release by the Board of New Frontier Minerals Ltd.

 

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 UK PR)  
 Ana Ribeiro and Charlotte Page
 Viriathus (United States)

 Media & Investor Relations         E. beverly.jedynak@viriathus.com (mailto:beverly.jedynak@viriathus.com)

 Beverly Jedynak

 

REFERENCES
 
 

1.     ASX Release: Maiden Mineral Resource Estimate 2.1Mt @ 1.1% Cu
(21,886t) for Big One Deposit, Castillo Copper Limited, 28 February 2022.

2.     Castillo Copper Limited (ASX: CCZ), ASX Release: Historic drill
data verifies grades up to 28.40% Cu from <50m in supergene ore at Mt Oxide
pillar, 14 January 2020.

3.     Castillo Copper Limited (ASX: CCZ), ASX Release: Major copper
discovery at Big One Deposit extended, 10 February 2021.

4.     New Frontier Minerals Limited, ASX Announcement: Copper Recovery
Testing Supports Mt Kelly Pathway and MOU with Austral Resources, 3 July 2025.

5.     New Frontier Minerals Limited, ASX Announcement: NWQ Copper Mining
Lease Application Advances Following Technical Approval - Operations Update,
17 March 2026.

6.     New Frontier Minerals Limited, ASX Announcement: Exploration
Targets Demonstrates Significant Potential at NWQ Copper Project, 23 February
2026.

7.     New Frontier Minerals Limited, ASX Announcement: Strategic alliance
with Austral Resources to process NFM copper ore, 21 January 2025.

8.     Biggs, M.S., and Reed G., 2022, NWQ Copper Project, Mt Isa Region,
Queensland, Target Generation, unpublished report by ROM Resources and R3D
Resources Limited for Castillo Copper Limited, October 2022.

9.     Southgate, P.N., Neumann, N.L. & Gibson, G.M. (2013).
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.

10.   New Frontier Minerals Limited, ASX Announcement: NWQ Copper bulk
sample to Mt Kelly Processing facility, 22 May 2025.

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 targets, mineral resources, 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 material.

 

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