New Frontier Minerals (ASX:NFM) will be flying a geomagnetic survey over its Northern Territory Harts Range asset for the first time since the 90’s.
On the hunt for uranium, niobium, and heavy rare earths, New Frontier – formerly Castillo Copper – will be assessing the data from this latest flyover by, worst case, late January 2025.
The helicopter-borne survey will give Frontier the best chance of finding extensional drill targets underground for a possible 2025 campaign, “or [the data will] advance ground geophysics.”
Some 2,253 line kilometres will be flown during the survey in a 50m spaced arrangement the company called high resolution on Tuesday.
“We are pleased to announce that NFM has appointed New Resolution Geophysics (NRG) to model and interpret airborne magnetic and radiometric geophysical data across the Harts Range project in the Northern Territory,” NFM Chair Ged Hall said.
“The data will not only expedite our exploration programs but also ensures we remain thorough and strategic in our approach.”
While the company isn’t looking for lithium – and as lithium prices remain subdued, shuttering all number of miners, most recently Lepidico – it reported on Monday a 500m long pegmatite find on-site Harts Range.
That recon fieldwork discovery was enough to put the share price up +36% to 1.5cps.
Originally intended to assess historical datasets, the company inked two new targets of interest on Monday nearby existing targets more prospective for uranium.
NFM last traded at 1.5cps.
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