- Rare earths producer Northern Minerals (NTU) has found high-grade copper assays at its John Galt Project
- 12 samples have returned assays greater than 1 per cent copper
- The company said while its primary focus is on rare earth elements, the discovery of copper mineralisation shows significant potential for commodity diversification
- Northern Minerals is up 3.45 per cent on the market this morning, trading at 6 cents per share
Rare earths producer Northern Minerals (NTU) has found high-grade copper assays at its John Galt Project.
In October, the company completed a selective rock chip sampling program, which covered 2 kilometres by 0.5 kilometres of the project.
As the project already contains a heavy rare earth prospect, this program targeted the south of the John Galt Project and focused on the previously identified copper occurrences.
Northern Minerals collected 24 samples with 12 of them returning assays greater than 1 per cent copper. The higher-grade copper samples mostly occurred in a cluster over 500 metres of strike length.
The company said while its primary focus is on rare earth elements, the discovery of copper mineralisation shows significant potential for commodity diversification, particularly as it is focused on electric vehicles and sustainable power generation.
CEO George Bauk said the copper results were an unexpected bonus for its exploration program at John Galt.
“As with rare earths, copper is an important element in the electric vehicle revolution given its widespread use in these vehicles,” John said.
“It is early days with respect to these copper results, however we are extremely encouraged by the widespread and high-grade nature of the results received,” he added.
George is confident in the year ahead for Northern Minerals.
Northern Minerals is up 3.45 per cent on the market this morning, trading at 6 cents per share at 11:29 am AEDT.