New Frontier Minerals Advances Harts Range Rare Earths, Lodges Big One Copper Mining Lease

Castillo Copper Ltd. ( (AU:NFM) ) just unveiled an announcement.

New Frontier Minerals reported significant progress at its Harts Range Project, completing its first reverse circulation drilling campaign across all high-priority targets and sending samples for assay analysis. The company entered a binding commercial framework with Metallium Ltd to apply proprietary Flash Joule Heating technology, which delivered exceptional single-step beneficiation of raw Harts Range ore with roughly 20-fold upgrade in total rare earth oxides and very high enrichment in dysprosium and terbium while removing key impurities, positioning the project as a potentially unique source of heavy rare earths for US magnet and defence customers. Under the agreement, Metallium receives exclusive global rights to process Harts Range ore and plans in 2026 to produce Dy/Tb-rich super-concentrates for qualification with prospective US customers, aiming to secure a commercial term sheet by year-end. Separately, New Frontier lodged a mining lease application over the Big One copper deposit at its NWQ Copper Project, securing tenure over historic workings and surrounding mineralised structures, and strengthened its balance sheet via a A$2.25 million placement, closing the quarter with A$3.0 million in cash and liquid investments.

More about Castillo Copper Ltd.

New Frontier Minerals Limited is an Australia-based exploration company listed on the ASX and LSE, focused on critical minerals projects including heavy rare earths and copper. Its key assets include the Harts Range rare earths project in the Northern Territory and the NWQ Copper Project in the Mt Isa copper belt of north-west Queensland, targeting strategic supply chains for US magnet, defence and broader industrial markets.

Average Trading Volume: 2,817,581

Technical Sentiment Signal: Hold

Current Market Cap: A$30.93M

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