04 March 2025

New Frontier Minerals Limited 

("NFM" or the "Company") 

Harts Range Project lights up, with numerous airborne geophysical uranium anomalies across the tenure

New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce the excellent results from the processing and interpretation of geophysical data by Southern Geoscience Consultants. The interpretation has identified numerous discreet uranium anomalies - a path finder to heavy rare earths mineralisation - lighting up across the Harts Range Uranium, Niobium and Heavy Rare Earths Project, located 140km north-east of Alice Springs in the Northern Territory. 

Highlights:

·    Outstanding results from the geophysical campaign, with interpreted radiometric data lighting up numerous discrete Uranium anomalies across the entire Harts Range Project

·    More significantly, as Uranium is a critical pathfinder element for high value Heavy Rare Earths mineralisation, it highlights the material exploration potential within the tenure

·    At the key Bobs and Cusp Prospects, enhanced imagery shows discreet Uranium anomalies coincident with mineralised pegmatites³ that are prime targets for drill testing

·    Further, enhanced magnetics (RTP 1VD) imagery shows Bobs and Cusp sit on an ENE trending structure, which is interpreted to repeat to the north and south

·    Southern Geoscience Consultants are undertaking a detailed 1:10,000 scale structural interpretation that should provide key information and additional targets once finalised, likely by mid-to-late March

Ged Hall, Chairman, commented: "The geophysicist's interpreted results are beyond the Board's expectations, with multiple targets for uranium anomalies lighting up across the entire Harts Range Project. Even better, is the Uranium anomalies are a pathfinder for high value Heavy Rare Earths mineralisation. As expected, the Cusp and Bobs Prospects are now clearly prime targets. Overall, the exploration potential at the Harts Range Project has increased significantly, and the geology team are set to return to site imminently to work on systematically identifying prime targets to drill-test."

DATA PROCESSING AND RADIOMETRIC TARGETING

New Resolution Geophysics (NRG) was engaged to undertake a high-resolution, airborne radiometric and magnetic survey at the Harts Range Project¹. With the survey and data acquisition completed during the month of January 2025. Southern Geoscience Consulting was engaged to process and interpret the data. 

The first phase of radiometric data processing has been completed with enhancements utilising various ratios to isolate discrete uranium highs for targeting in the field. Further to this, detailed integrated interpretation of the magnetics and radiometric data is being undertaken to provide an understanding of the bedrock geology setting to support target selection for follow up exploration. 

As uranium serves as a key pathfinder element, it plays a crucial role in guiding exploration efforts to vector into areas that host heavy rare earths mineralisation. The uranium squared (U²) image enhancement process has removed the thorium and potassium to show widespread regional uranium anomalies for follow up (Figure 1).

Figure 1: Uranium squared (U²) image shows extensive regional wide uranium anomalism and known mineralised prosects

Further enhancements utilising the U²/Th ratio has been successful in isolating discrete uranium highs normalised by rock type and regolith. These enhancements have effectively isolated uranium values in the radiometric data, which are clearly visible at both Bob and Cusp, and are prominently highlighted within the radiometric dataset (Figure 2).

 More importantly, these enhancements have identified numerous similar discrete anomalies regionally across the tenure for ground truthing and vectoring into heavy rare earths targets.

Figure 2: U²/Th ratio enhancement isolate discrete uranium highs at Bobs and Cusp

 Utilising open-sourced satellite imagery, a preliminary satellite image interpretation has visually identified numerous pegmatites across the project area². The integration of enhanced (U²/Th ratio) geophysical imagery with the interpreted pegmatites have identified numerous areas that are considered prospective for radioactive pegmatites that also host niobium and heavy rare earths (Figure 3).

 Numerous discrete uranium-rich anomalies that correspond with interpreted pegmatites will be prioritised for ground truthing and target generation during the upcoming field season.

Figure 3: Integration of enhanced (U²/Th ratio) geophysical imagery with the interpreted pegmatites

The magnetic image (RTP 1VD) has identified an ENE trending structural feature that hosts both Bobs and Cusp prospects. Preliminary interpretation has identified this to be potentially a controlling factor to the uranium, niobium, and heavy rare earths mineralisation (Figure 4).

Repeats of these geophysical structural trends are seen to the north and south of Bobs and Cusp prospects.

Figure 4: integration of enhanced (RTP 1VD) geophysical imagery with the interpreted ENE structures possibly controlling uranium, niobium and heavy rare earths mineralisation

NEXT STEPS

While the first phase of radiometric data processing has been completed, detailed integrated interpretation of the magnetics and radiometric data is being undertaken with more comprehensive targets expected in mid-March 2025.

Prior to the commencement of the field season, the NFM geology team will utilise the integrated geophysical and geological datasets to identify and target key areas for ground truthing which will include geological mapping and sampling to validate and identify targets for drilling.

For further information please contact 

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".

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. 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.

References

1)     NFM ASX Release - 10 December 2024

2)     NFM ASX Release - 4 February 2025

3)     NFM ASX Release - 6 November 2024

APPENDIX A:  GEOLOGICAL DISCUSSION

Summary

New Resolution Geophysics (NRG) was engaged to collect and interpret airborne magnetic and radiometric geophysical data at the Harts Range Project, Northern Territory (NFM 2024).

A high-resolution, helicopter-borne radiometric and magnetic survey was designed to accelerate exploration over untested areas within the Harts Range project (Figure AA-1), aiming to identify potential extensions to known uranium, niobium, and rare earth mineralisation was completed in late January 2025.  The survey employed "Xplorer", an advanced gradient magnetic system, to cover 2,253-line kilometres across tenements EL32513 and EL32046 and the technique boasts improved precision and efficiency.

NFM has flown the first airborne survey since the mid-1990s over the region and the first high-resolution (50m spaced) survey over the Harts Range project area and will use results from the survey to define high-priority drill targets or to plan advanced ground geophysics surveys.  Detailed Interpretation by consultants Southern Geoscience is currently in progress.

Figure AA-1: Harts Range mineral project area

Fieldwork Conducted

Key features of the "XPlorer" systems used for the survey now completed are given below:

1.            "XPlorer" systems are mounted on dedicated AS350 B-series helicopters. The AS350 is ideal for the close terrain following required for geophysical surveys. The unique Starflex rotor system and ample power ensure that even the most stringent survey specifications are maintained.

2.            Low survey height results in a significant improvement in magnetic data which decays exponentially with distance from source.

3.            The proposed system will utilise a horizontal boom mounting to separate magnetic sensors. This will allow for measurement of the horizontal gradient of the magnetic field. Incorporating the magnetic gradient in gridding algorithms, provides significant improvement in delineating line parallel features, spatial positioning of off-line anomalies and overall resolution of the magnetic data. 

4.            As with the magnetics, radiometric data will benefit significantly from the lower survey height. All radiometric data will be collected at 2 Hz using 16,7 litres of NAI Sodium Iodide crystal sensor. Full spectral processing was included in the quote.

The survey consists of a single block located west of Alice Springs in the Northern Territory.  A locality map is provided in Figures AA-1 and AA-2.

A high-resolution digital terrain model (DTM) of the survey area, illustrated in Figure AA-2, suggests that the terrain is rugged.  The horizontal gradient of the DTM has been included in Figure 3 to gauge the required climb/descent rates in areas with steeper topography. The climb and descent rate of a high-performance helicopter, such as the AS350B3, will under most conditions, be in the order of 250 m/km.  Parts of the survey where the gradient exceeds 200m/km have been flagged in colour (yellow - magenta). In these areas survey height may be compromised in the interest of safety.

Figure AA-2:  NT Survey Location

Table AA-1  Survey Parameter Summary (Source: NRG Australia)

A survey altitude of 25 - 30m was employed dependent on safety considerations and tree canopy height (see Figure AA-3).  A minimum line length of 3km (with a few exceptions at the southwest end of survey block) has been utilised for the flight path.  The low-level flying height together with the horizontal gradient boom system will result in improvements to:

•           More structural and textural information.

•           Better gradient enhancement.

•           Improved anomaly definition.

•           Improved spatial positioning.

•           Improved resolution of line parallel features

The survey boundary coordinates are provided in Table AA-2 below. 

Figure AA-3: Helicopter Similar to that used in the Survey (Source: NRG Australia)

Table AA-2. Survey Boundary Coordinates

References

Barfuss, R. 2014, The Harts Range Project Exploration Licence (EL 24552) - (Barfuss Corporation Pty Ltd)

Das, K., 2024, Note on November Harts Range field reconnaissance trip, Audax Holdings memo, prepared for New Frontier Minerals Dec 2024, 27pp.

Caughey, A.R., 2007 Annual Report for Exploration Licence EL24552 for the period ending 25th August 2007 (Flagstaff Geo Consultants Pty Ltd.), November 2007 (for Barfuss Corporation Pty. Ltd.) 

New Frontier Minerals, 2024, Geophysical Data to define drill targets at Harts Range, Northern Territory, published to ASX, 10^TH December 2024, 6pp.

Rutter, H. 2006. 'An analysis of airborne radiometric data from the Harts Range, N.T.' (Flagstaff Geo Consultants Pty Ltd.) (unpublished report).

Shaw, R.D., Senior, B.R., Offe, L.A., Stirzaker, J.F., Walton, D.G., Apps, H.E., Freeman, M.J., 1985, 1:250,000 Geological Map Series Explanatory Notes Illogwa Creek SF53-15. Bureau of Mineral Resources Australia & Northern Territory Geological Survey,1985.

Spatial Territory Resource Information Kit for Exploration (STRIKE); NT Government Available at: http://strike.nt.gov.au/wss.html

Scrimgeour IR, 2013. Chapter 29: Irindina Province: in Ahmad M and Munson TJ (compilers). 'Geology and mineral resources of the Northern Territory'. Northern Territory Geological Survey, Special Publication5.