NFM’s Copper Ambitions Hinge on Metallurgical Tests and Lease Approvals

Strategic Alliance Advances NWQ Copper Project

New Frontier Minerals Limited (ASX: NFM) has taken a significant step forward in developing its flagship NWQ Copper Project by dispatching bulk samples from historical stockpiles at the Big One Deposit to Austral Resources’ Mt Kelly Copper Processing Plant in Queensland. This move follows a recent site visit and the formalization of a Memorandum of Understanding (MOU) with Austral Resources, establishing a strategic alliance to process copper ore and accelerate NFM’s pathway to production.

The Mt Kelly facility, situated in the heart of the Mt Isa Copper Belt, one of the world’s premier copper provinces, offers world-class infrastructure that NFM aims to leverage. Non-Executive Director Joel Logan’s inspection of the plant confirmed its capacity to support NFM’s production ambitions, particularly for the Big One Deposit, which holds a JORC-compliant Mineral Resource Estimate of 2.1 million tonnes at 1.1% copper.

Project Potential and Regional Context

The NWQ Copper Project spans nearly 1,000 square kilometres in a Tier 1 mining jurisdiction, surrounded by operations of major miners such as Anglo American, Glencore, and Rio Tinto. Beyond the Big One Deposit, the project boasts more than 20 under-explored targets, highlighting substantial exploration upside. The copper mineralisation includes oxide and sulphide styles, with historical mining focused on high-grade supergene zones.

Global demand for copper remains robust, driven by decarbonisation and electrification trends, underpinning the strategic importance of projects like NWQ. The alliance with Austral Resources not only provides processing capability but also positions NFM competitively within a region dominated by established players.

Next Steps and Outlook

New Frontier plans to progress mining lease applications and regulatory approvals for the Big One Deposit while conducting detailed metallurgical testing of the oxide stockpiles to fast-track near-term production. The bulk samples sent to Mt Kelly will undergo comprehensive assay and metallurgical evaluation, with results expected within one to two months. Concurrently, NFM intends to initiate drilling programs to expand the resource base and explore satellite targets within the NWQ Project.

Chairman Gerrard Hall emphasised the milestone nature of the alliance, noting it as a clear pathway to production and value creation for shareholders. The collaboration with Austral Resources exemplifies NFM’s strategy of combining exploration expertise with established processing infrastructure to unlock project potential efficiently.

While the metallurgical results will be pivotal in confirming processing viability, the strategic partnership and project location provide a strong foundation for NFM’s copper ambitions in a globally significant mining district.