New Frontier Minerals (ASX: NFM) is progressing its NWQ Copper Project in Queensland, marked by a strategic site visit to Austral Resources’ Mt Kelly Copper Processing Plant. This collaboration aims to leverage Austral’s facilities to process ore from NFM’s Big One Deposit, fast-tracking NFM’s path to copper production. Bulk samples have been collected from historical stockpiles at the Big One Deposit for processing evaluation at Mt Kelly.
NFM’s Non-Executive Director, Joel Logan, inspected Mt Kelly to assess its capacity to support NFM’s production plans. Chairman Gerrard Hall highlighted the significance of the site visit and strategic alliance, stating that these advancements provide a clear path to production, leveraging infrastructure and partnerships to create value for shareholders.
The MOU between NFM and Austral Resources establishes a strategic alliance, combining NFM’s exploration and mining expertise with Austral’s processing facilities, creating a scalable asset base. Austral secures a copper ore source, while NFM accelerates production. The focus will be on supplying ore from NFM’s Big One Deposit, with potential expansion to other targets within the NWQ Copper Project. Metallurgical test work will ensure NFM ore meets processing standards, with a profit-sharing model for equitable value creation.
Located in the Mt Isa Copper Belt, the NWQ Copper Project offers the potential to use world-class infrastructure and regional expertise. The Big One Deposit has a JORC-compliant Mineral Resource Estimate (MRE) of 2.1 Mt at 1.1% Cu for 21,886 tonnes of contained copper metal and boasts more than 20 under-explored targets. NFM plans to progress Mining Lease Applications, regulatory requirements, and metallurgical testing of copper oxide stockpiles. The company will drill to increase resources at the Big One Deposit and explore other satellite targets.
