NFM New Frontier Minerals Limited

4 February 2025

New Frontier Minerals Limited

("NFM" or the "Company") 

NFM completes geophysical survey at Harts Range Project, Northern Territory

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New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce the high-resolution, helicopter-borne radiometric and magnetic survey has concluded at the Harts Range Uranium, Niobium and Heavy Rare Earths Project (Harts Range Project), located 140km north-east of Alice Springs in the Northern Territory. 

The geophysical survey data is being processed and interpreted by a geophysicist contractor and the preliminary findings are expected soon. The board is optimistic potential extensions to known Uranium, Niobium, and Heavy Rare Earth mineralisation may be identified¹ which will assist with the prioritisation of targets for drill-testing.

Highlights:

·    NFM completes high-resolution, helicopter-borne radiometric and magnetic survey at the Harts Range Project

·    Survey covered granted tenements EL32513 and EL32046, focusing on pegmatites identified through satellite image interpretation

·    The raw data is being processed by a geophysical consultant with preliminary findings expected when complete 

·    NFM's Board is optimistic results may identify extensions to known occurrences of Uranium, Niobium, and Heavy Rare Earths mineralisation²

·    The processed geophysical data overlayed with historic and recent field data will provide further confidence in NFM's drill target selection  

Ged Hall, Chairman, commented: "The completion of the helicopter-borne radiometric and magnetic survey ensures our geology team will have all the necessary information to select high priority targets for drill testing. This milestone reflects our deliberate and methodical exploration strategy, aimed at maintaining low costs while maximising value for shareholders. With momentum building since the start of our exploration campaign, the NFM Board and management are increasingly optimistic about launching a value-driven drilling program in the near future."

RADIOMETRIC AND MAGNETIC SURVEY CONCLUDES

New Resolution Geophysics³ (NRG) has completed its comprehensive helicopter-borne radiometric and magnetic survey at the Harts Range Project. The survey data has been sent to a geophysicist contractor for analysis and interpretation.

Once the full suite of geophysical and historical data is reviewed and interpreted, NFM's geology team should be able to select high priority targets for drill-testing.

Figure 1: NRG helicopter at the Harts Range Project (Source:  NRG survey quotation³)

Prior exploration at the Harts Range Project identified multiple occurrences of high-grade Uranium-Niobium and Heavy Rare Earths mineralisation associated with radioactive pegmatites⁴.

Utilising open-sourced satellite imagery, a preliminary satellite image desktop interpretation has visually identified numerous pegmatites across the project area (Figure 2).

The desktop interpretation is preliminary and NFM's geology team intends to verify all geological features identified as pegmatites on the ground. However, in areas with dense vegetation, some pegmatites may have been overlooked. By integrating geophysical data with the interpreted pegmatites, the team can generate incremental targets for ground verification and prioritise them for drilling.

Figure 2: Interpreted pegmatites at Harts Range Project (Source: NT Geological Survey⁴)

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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 and the Broken Hill Project in western New South Wales.

New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".    

References

1) NFM ASX Announcement: Harts Range Boasts Extended Mineralisation with Record-High Niobium, Dysprosium, and Terbium Grades, dated 13 January 2025

2) CCZ ASX Announcement: CCZ to acquire highly prospective niobium, uranium & heavy rare earths project, dated 21 October 2024

3) NFM ASX Announcement: Geophysical Data to define drill targets at Harts Range, Northern Territory, dated 10 December 2024

4) NT Geological Survey. Available at: https://resourcingtheterritory.nt.gov.au/data-and-publications/online-tools

Competent Persons Statement

The scientific and technical information in this announcement, which relates to exploration 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 Copper 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 Copper 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 Copper Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Copper 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 Copper Limited.

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.