New Frontier Raises $1.59M as Heavy Rare Earths Reach 11.75% Dysprosium at Harts Range

Heavy Rare Earth Breakthrough at Harts Range

New Frontier Minerals Limited (ASX, NFM) has delivered a compelling update for the quarter ending June 2025, highlighting significant progress at its Harts Range Heavy Rare Earths, Uranium, and Niobium Project in the Northern Territory. Rock chip sampling at the Cusp and Bobs prospects revealed exceptional concentrations of critical heavy rare earth elements (HREEs), including Dysprosium Oxide levels up to 11.75% and Terbium Oxide reaching 1.87% within the total rare earth oxide composition. These elements are vital for defence and advanced technology applications, underscoring the strategic importance of the project.

Further exploration led to the discovery of two new prospects, Paddington and Westminster, located just west of the Bobs Prospect. These sites exhibited high-grade HREE mineralisation alongside significant Niobium and Tantalum values, with assays showing up to 10.61% total rare earth oxides and 23.56% Nb2O5. The combined prospects now define an east-west trending structural corridor extending over two kilometres, providing a robust geological framework for ongoing exploration.

Advancing Towards Drilling and Resource Expansion

New Frontier’s geology team has prioritized multiple drill targets, including the newly identified Old Trafford and Bank prospects, with plans to commence a maiden Reverse Circulation drilling campaign in the third quarter of fiscal 2025, subject to regulatory approvals. The company has also applied for three additional tenements to expand its exploration footprint at Harts Range, supported by a $59,000 grant from the Northern Territory Geological Survey’s Geophysics and Drilling Collaborations program, which will partially fund up to 1,360 meters of drilling.

NWQ Copper Project, Near-Term Production Potential

On the copper front, New Frontier’s NWQ Copper Project in Queensland’s Mt Isa Copper Belt is advancing steadily. The company conducted metallurgical testing on bulk samples from the Big One Deposit, yielding copper grades between 3.9% and 11.85% with sulphuric acid leach recoveries as high as 99%. These results confirm the suitability of conventional acid leach processing methods, aligning well with the infrastructure at Austral Resources’ Mt Kelly Copper Processing Plant, where New Frontier has secured a strategic partnership under a Memorandum of Understanding.

With a JORC-compliant resource estimate of 2.1 million tonnes at 1.1% copper, the Big One Deposit represents a significant asset in a Tier 1 mining jurisdiction. New Frontier is progressing mining lease applications and plans to fast-track copper production through further metallurgical testing and drilling, leveraging the Mt Kelly facility’s capabilities to reduce capital expenditure and accelerate timelines.

Capital and Corporate Developments

To support its exploration and development agenda, New Frontier raised $1.59 million through a placement of over 144 million shares at $0.011 each, attracting institutional and sophisticated investors. The company ended the quarter with $2.36 million in cash and liquid investments, providing a solid financial base for upcoming drilling campaigns and operational activities. Management continues to focus on regulatory compliance, land access, and environmental approvals to maintain momentum across its project portfolio.

Overall, New Frontier Minerals is positioning itself as a key player in the supply of critical minerals essential for the global transition to clean energy and advanced technologies. The combination of high-grade rare earth discoveries and promising copper assets in established mining regions offers a compelling growth story for investors watching the evolving commodities landscape.