NWQ Copper Project Targets Up to 58 Million Tonnes at 1.5% Copper

Exploration Targets Highlight NWQ Project's Scale

New Frontier Minerals Limited (ASX: NFM) has released an extensive update on its North-West Queensland (NWQ) Copper Project, located in the prolific Mt Isa region. The company’s geology team has delineated 14 priority prospects, collectively demonstrating significant exploration potential for structurally controlled copper deposits. These targets are supported by a robust combination of geophysics, geochemistry, and historical drilling data.

The updated JORC Exploration Targets range from 12 to 58 million tonnes at grades between 0.3% and 1.5% copper, representing an estimated 50,000 to 473,000 tonnes of contained copper. This broad range reflects the conceptual nature of the targets, which require further drilling to define JORC-compliant resources.

Big One Deposit: The Flagship Asset

At the heart of the NWQ Project is the Big One Deposit, which holds an inferred mineral resource estimate (MRE) of 2.1 million tonnes at 1.1% copper, equating to approximately 21,886 tonnes of contained copper. The deposit remains open along strike and at depth, with recent drilling campaigns aimed at extending mineralisation and upgrading resource confidence.

New Frontier is currently seeking to secure the mining lease over Big One, a critical regulatory step that is under review by Queensland authorities. Concurrently, the company is working to formalise a revenue-sharing arrangement with Austral Resources (ASX: AR1) to process copper ore at Austral’s Mt Kelly facility, a move that could streamline the pathway to production.

Diverse Prospects with Promising Anomalies

Beyond Big One, several other prospects show compelling signs of copper mineralisation. Eldorado South features structurally controlled copper-gold systems with rock chip samples reaching up to 5,400 ppm copper. The Pancake Prospect exhibits Mt Isa-style mineralisation with significant zinc, lead, and copper anomalies supported by geophysical data. Similarly, Mt Storm, Valparaisa, Arya, and Black Mountain prospects present geochemical and geophysical anomalies indicative of IOCG and sediment-hosted copper mineralisation styles.

These prospects are at various stages of exploration, with planned reverse circulation (RC) and diamond drilling campaigns scheduled to test and potentially expand the known mineralisation zones. Field visits and detailed mapping will precede drilling to refine target areas.

Strategic Development Pathway and Shareholder Value

Chairman Gerrard Hall emphasised the strategic approach: securing the Big One mining lease, formalising processing agreements, and systematically advancing exploration across the 14 prospects. The company’s methodical progression aims to unlock multiple copper deposits within the NWQ Project, potentially creating significant incremental value for shareholders.

New Frontier’s exploration strategy leverages historical data and modern techniques, including induced polarisation surveys, airborne electromagnetics, and comprehensive geochemical sampling. The project’s location within the Mt Isa copper belt, a globally recognised mining district, further enhances its prospectivity.

Cautionary Notes and Next Steps

While the Exploration Targets are encouraging, they remain conceptual, with insufficient drilling to define mineral resources under the JORC Code. The company acknowledges that further exploration is necessary to confirm the scale and grade of mineralisation. Additionally, the mining lease approval process will be a key milestone to monitor.

New Frontier plans to commence drilling campaigns at Big One and Big One North in Q3 2026, alongside field investigations at other priority prospects. The company is also expanding investor outreach to enhance market visibility of its core assets.