New Frontier Minerals has moved its Mining Lease Application for the Big One Copper Deposit into the technical assessment phase, marking a key step toward near-term development amid a strong copper market.
- Mining Lease Application for Big One Copper Deposit enters technical assessment
- JORC-compliant resource of 2.1Mt at 1.1% copper plus 7,000t surface stockpiles
- Sulphuric acid leach tests show up to 99% copper recovery
- Plan to haul ore to Austral Resources’ Mt Kelly Processing Facility
- Preparatory earthworks expected to start in Q3 2026
Mining Lease Application Progresses
New Frontier Minerals Limited (ASX – NFM) has announced that its Mining Lease Application (MLA) for the Big One Copper Deposit in north-west Queensland has advanced into the technical assessment phase. This follows the completion of the initial regulatory review by the Queensland Natural Resources and Mines Department, a significant milestone that brings the project closer to potential development.
The Big One Deposit hosts a JORC-compliant Mineral Resource of 2.1 million tonnes at 1.1% copper, alongside an additional 7,000 tonnes of copper contained in surface stockpiles. These figures position the deposit as a promising near-term cash flow opportunity, particularly given the current robust copper price environment driven by global electrification and energy transition demands.
Strategic Processing Partnership and Test Results
New Frontier has identified an established processing pathway through a strategic alliance with Austral Resources Ltd, which operates the Mt Kelly Processing Facility. Subject to approvals and economic considerations, ore from Big One would be hauled to Mt Kelly for processing. Supporting this plan, sulphuric acid leach test-work on material from historical stockpiles has demonstrated copper recoveries of up to 99%, confirming the suitability of conventional acid leach processing methods and reinforcing the viability of toll treatment arrangements.
The proposed development approach focuses on near-surface copper mineralisation and existing stockpiles, enabling a low-strip, surface-based mining operation. This strategy aims to leverage previously disturbed pits and infrastructure, minimising environmental impact and aligning with New Frontier’s commitment to responsible development.
Exploration and Next Steps
Further resource drilling is planned to potentially extend the known mineralisation at Big One. Historical drill results include high-grade intercepts such as 40 metres at 1.64% copper from surface, with zones reaching up to 16.65% copper over one metre. These promising grades underscore the deposit’s potential to support a viable mining operation.
Preparatory earthworks are targeted to commence in the third quarter of 2026, pending final approvals. Meanwhile, New Frontier continues to engage with regulators as the MLA undergoes detailed technical assessment. The company is also progressing other initiatives, including assay results from its Harts Range Heavy Rare Earths drilling program and an application for an OTCQB listing in the United States.
Market Context and Outlook
The timing of this advancement is notable given the current copper price surge, which has recently exceeded US$12,500 per tonne. This price strength is underpinned by supply disruptions and sustained demand linked to the global shift towards electrification and clean energy technologies. For New Frontier, the Big One Deposit represents a strategic asset within the well-established Mt Isa copper belt, offering access to regional infrastructure and processing facilities that could accelerate project development.
Bottom Line?
As New Frontier navigates regulatory hurdles and advances development plans, the Big One Copper Deposit stands poised to capitalise on a buoyant copper market.
Questions in the middle?
- What are the expected timelines and conditions for final MLA approval?
- How will toll treatment terms with Austral Resources impact project economics?
- Could further drilling materially increase the resource or improve project viability?