New Frontier Minerals (ASX:NFM) has progressed into the technical assessment phase of the mining lease application for the Big One copper deposit within the company’s NWQ Copper Project in Queensland.
The Queensland Natural Resources and Mines Department is currently conducting a detailed assessment of the application, confirming the completion of the initial regulatory review.
New Frontier has identified a processing pathway via haulage to Austral Resources’ (ASX:AR1) Mt Kelly Processing Facility.
Chairman Gerrard Hall describes this stage of the mining lease application as an “important milestone for New Frontier”.
“The Big One deposit offers a compelling opportunity to potentially process NWQ ore at the existing Mt Kelly Facility, leveraging existing infrastructure and established processing pathways, while continuing to engage constructively with regulators,” Hall says.
The company says it will continue to engage with the department through the advancement of the application.
The deposit is deemed suitable for conventional acid leach processing following copper recoveries of up to 99% from sulphuric acid leach testwork.
Located in North West Queensland, the Big One deposit has historically returned intercepts including 40m @ 1.64% copper from surface, including 11m @ 4.40% copper from 24m, 5m @ 7.34% copper from 28m, and 16.65% copper from 29m.
The company says further resource drilling could potentially extend known mineralisation at the deposit.
Meanwhile, New Frontier is proposing to list on the OTCQB market in the US, progressing related activities during the approval stage of the application.
New Frontier Minerals is an Australian explorer focused on its multi-commodity assets that show future potential as an economic mining operation.
Write to Maddison Elliott at Mining.com.au
Images: New Frontier Minerals
