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New Frontier Minerals Ltd (ASX:NFM) has found sections of its Harts Range project in the Northern Territory feature strong amounts of heavy rare earth elements, which are becoming increasingly valued in the critical minerals market.
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Samples from Cusp and Bobs show the dominance of HREEs, including up to 11.75% dysprosium oxide and 1.87% terbium oxide within the total REE mix.
New Frontier analysed 25 rock chip samples, highlighting the prominence of the above minerals, and the potential for further exploration of both.
New Frontier chairman Ged Hall said the results from this sampling work showed potential for exploration upside at the project and were “highly encouraging.”
This comes at a time when China has restricted seven categories of medium and heavy rare earths – Samarium, Gadolinium, Dysprosium, Terbium, Lutetium, Scandium, and Yttrium – due to U.S. tariff policies, beginning this month.
Given their role in defence and high-tech industries, access to HREE remains crucial for many countries and jurisdictions.
“China’s recent announcement to restrict the export of these critical heavy rare earths highlights the urgent need for alternative sources of supply,” Mr Hall explained.
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New Frontier’s chair continued: “These elements are essential for defence applications and are predominantly supplied and controlled by China, making their availability increasingly rare and strategically important.”
New Frontier shares were trading at 1.3 cents at open.
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