NT Minerals Uncovers Copper-Gold Anomalies at Twin Peaks, Eyes Redbank Sale
NT Minerals reports encouraging copper and gold anomalies at its Twin Peaks Project using advanced Ultrafine™ analysis, alongside a significant magnetite Exploration Target. Corporate moves include E79 Gold Mines exercising its Mountain Home option and ongoing talks to divest Redbank Copper Project assets.
- Copper and gold anomalism detected at Premiership Prospect via Ultrafine™ soil sampling
- JORC-compliant magnetite Exploration Target estimated at Woolbung BIF with 230-770 Mt at 20-35% Fe
- E79 Gold Mines exercises option over Mountain Home Project with revised royalty terms
- Discussions underway for potential disposal of Redbank Copper Project in Northern Territory
- Convertible Note subscription delayed; company exploring alternative funding options
Exploration Breakthroughs at Twin Peaks
NT Minerals Limited (ASX: NTM) has unveiled promising exploration results from its Twin Peaks Project in Western Australia, highlighting the potential for copper and gold mineralisation. A reconnaissance surface sampling program at the Premiership Prospect employed the Ultrafine™ analytical technique, revealing copper anomalism exceeding 100 ppm across six consecutive samples, peaking at 178.01 ppm. Gold anomalism was also detected, with values above 1 ppb across three samples and a peak of 3.697 ppb. These anomalies coincide with a significant gravity lineament, the Southern V, suggesting a structural control on mineralisation that remains open and untested to the south.
The use of the Ultrafine™ technique marks a strategic advancement over previous conventional soil sampling, which NT Minerals identified as largely ineffective due to complex regolith profiles. This innovative approach allows for more sensitive detection of subtle geochemical signals, positioning the company well for targeted drilling campaigns once background values are established.
Significant Magnetite Potential at Woolbung BIF
Complementing the copper-gold findings, NT Minerals has also reported a JORC-compliant Exploration Target for magnetite mineralisation hosted within the Woolbung BIF stratigraphic sequence. The target estimates a substantial tonnage range of 230 to 770 million tonnes with iron grades between 20% and 35% Fe. This package is geologically analogous to known iron ore deposits in the Murchison Province, such as Jack Hills and Mount Gibson, underscoring its economic potential.
While the Exploration Target remains conceptual pending further drilling, the geological review leveraged historical drilling data and aeromagnetic imagery to extrapolate the extent and grade of the magnetite mineralisation. The oxidised weathered zone has been excluded from the target, focusing on fresh rock magnetite, which will require further validation through future exploration.
Corporate Developments and Strategic Moves
On the corporate front, E79 Gold Mines Ltd exercised its option over the Mountain Home Project post-quarter, with the option transferred to Iguana Minerals Pty Ltd, a wholly owned subsidiary of E79. The agreement includes a reduced net smelter return royalty of 1%, capped at $1.5 million, with Iguana holding the first right of refusal to purchase the royalty for $1 million. This move reflects confidence in the project's value and provides NT Minerals with a streamlined royalty structure.
Meanwhile, NT Minerals is actively pursuing the potential disposal of all or part of its Redbank Copper Project in the Northern Territory. Discussions are ongoing, signaling a strategic review of asset portfolio optimisation. The company also reported the resignation of Non-Executive Director Hugh Thomas, citing pursuit of other interests.
Financial Position and Funding Outlook
NT Minerals’ cash position remains tight, with only $18,000 on hand as of 31 March 2025, including a $15,000 term deposit. Although $1.56 million remains available under the Convertible Note facility, the subscriber has yet to draw down on this funding. Consequently, the company is exploring alternative funding avenues, including potential contributions from current directors, to sustain ongoing exploration and corporate activities.
Exploration expenditure for the quarter was modest at $8,000, reflecting a focus on project management and geological consulting rather than active fieldwork, which was limited by seasonal conditions in some regions.
Looking Ahead
NT Minerals’ recent exploration results at Twin Peaks and the Woolbung BIF magnetite target provide a compelling foundation for advancing its Western Australian projects. The company’s strategic corporate maneuvers, including the Mountain Home option exercise and Redbank disposal talks, suggest a focus on refining its asset base and capital structure. However, the funding uncertainty and low cash reserves underscore the need for successful capital raising or asset monetisation to maintain momentum.
Bottom Line?
NT Minerals’ exploration promise hinges on securing funding and advancing drilling to convert targets into resources.
Questions in the middle?
- When will NT Minerals complete the remaining Ultrafine™ sampling and initiate drilling at Premiership Prospect?
- What are the terms and timeline for the potential disposal of the Redbank Copper Project?
- How will the delayed Convertible Note subscription impact NT Minerals’ near-term funding and exploration plans?