New Frontier Minerals (ASX:NFM) is aiming to uncover high-priority drilling targets at the Harts Range Uranium-Niobium and Heavy Rare Earth Project in the Northern Territory.
The company will be reviewing and interpreting geophysical and historical data of the Harts Range Project, after completing a high-resolution, helicopter-borne radiometric and magnetic survey.
Preliminary findings from the survey are expected shortly.
New Frontier, which has a market capitalisation of $29 million, is optimistic potential extensions of known uranium, niobium, and heavy rare earth mineralisation may be identified which will assist with prioritising drill targets.
Chairman Ged Hall says completing the survey ensures the geology team will have all the information to select high-priority targets.
“This milestone reflects our deliberate and methodical exploration strategy, aimed at maintaining low costs,” Hall says.
“With momentum building since the start of our exploration campaign, the New Frontier Minerals board and management are increasingly optimistic about launching a value-driven drilling program in the near future.”
Prior exploration at Harts Range identified multiple occurrences of uranium-niobium and heavy rare earth mineralisation associated with radioactive pegmatites.
The Harts Range Project, covering 135km2, lies 140km north-east from Alice Springs in the Northern Territory.
New Frontier Minerals is a diversified mineral explorer headquartered in Perth, Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: New Frontier Minerals
