New Frontier Minerals Announces 12-58Mt @ 0.3-1.5% Cu Exploration Target (50-473kt Contained Copper) at Northwest Queensland Copper Project

Rhea-AI Summary

New Frontier Minerals (OTCQB:NFMXF) announced an updated JORC Exploration Target across 14 prospects at its NWQ Copper Project: 12–58 Mt @ 0.3–1.5% Cu, equivalent to ~50,000–473,000 t contained copper.

The company plans to secure a mining lease for the Big One Deposit (MRE: 2.1 Mt @ 1.1% Cu, ~21 kt Cu), pursue processing arrangements with Austral Resources, and progress drilling and site visits across other priority prospects.

Positive

• Exploration target of 12–58 Mt (50–473 kt contained Cu)
• Existing MRE at Big One: 2.1 Mt @ 1.1% Cu (~21 kt Cu)
• Potential processing agreement with Austral Resources Mt. Kelly facility
• Binding option to acquire Pomme REE project in Quebec

Negative

• Mining lease for Big One is under review by Queensland regulator
• Exploration target range is wide, reflecting high uncertainty in tonnage and grade
• Exploration-stage targets are not mineral resources and require drilling to confirm

PERTH, Australia, Feb. 23, 2026 /PRNewswire/ -- New Frontier Minerals Ltd. (ASX: NFM; OTCQB: NFMXF; LSE: NFM) announced the company's updated JORC Exploration Targets across 14 prospects within its NWQ Copper Project, located in the Mt. Isa region of northwest Queensland, Australia that underscore the substantial potential scale and depth of opportunity across project and "clearly demonstrate significant exploration potential beyond the Big One Deposit," according to Gerrard Hall, Chairman of New Frontier Minerals.

The updated Exploration Target estimate ranges from 12-58 million tons (MT) 0.3-1.5% cu, representing circa 50,000-473,000t of contained copper, defined across 14 priority prospects within New Frontiers' NWQ Copper Project.

Hall explained that New Frontier's initial focus is to secure a mining lease over Big One Deposit and formalize a copper ore processing agreement with Austral Resources to utilize its Mt. Kelly facility. "In due course, the development pathway comprises fully developing the Big One Deposit, then explore the remaining 13 prospects to determine their potential to host copper deposits," he said. He added that collectively this work highlights the NWQ Copper Project's potential to have multiple copper deposits with a clear production pathway.

Extensive details of this announcement can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03059259-6A1313077&v=undefined.

New Frontier's geology team has delineated 14 priority prospects within the NWQ Copper Project that underpin the Exploration Target, and holistically demonstrate significant exploration potential. The team has identified a proposed development pathway comprising:

• Securing of the mining lease over the Big One Deposit (MRE:2.1 Mt@1.1% Cu for approximately 21kt copper metal), which is currently under review by the Queensland regulator.
• Leveraging the alignment with Austral Resources to formalize a revenue sharing arrangement for the copper ore to be processed at Austral's Mt. Kelly facility
• Assessing RC and diamond drilling campaigns at the Big One and Big One North Deposits to potentially extend known mineralization and upgrade the current MRE.
• Progress exploration pipeline with site visits to the 14 other under-explored priority prospects to ascertain their potential to host copper deposits.

New Frontier Minerals is an Australian-based explorer with a strategy to develop multi-commodity assets that demonstrate future potential as economic mining operations. Through application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests. In addition to its NWQ Copper Project, the company continues to advance exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project in the Northern Territory of Australia. New Frontier Minerals also has a binding option to acquire 90% of the advanced Pomme Rare Earth Elements Project in Quebec, Canada, which consists of 43 mineral claims covering approximately nine square miles, providing the company a strategic foothold in the North American critical minerals supply chain.

Company representatives will be in New York on February 26 and 27 to present before the OTC Australian Investor Conference and will be attending the annual PDAC Convention in Toronto March 1-4. Those who have interest in speaking with them are invited to contact Ms. Jedynak for details.

View original content:https://www.prnewswire.com/news-releases/new-frontier-minerals-announces-1258mt--0-31-5-cu-exploration-target-50473kt-contained-copper-at-northwest-queensland-copper-project-302694354.html

SOURCE New Frontier Minerals

FAQ

What is the NWQ Copper Project exploration target announced by New Frontier Minerals (NFMXF) on Feb 23, 2026?

The company announced an Exploration Target of 12–58 Mt @ 0.3–1.5% Cu, equal to ~50,000–473,000 t contained copper. According to the company, this target covers 14 priority prospects within the NWQ Copper Project.

What is the current measured resource at the Big One Deposit cited by New Frontier Minerals (NFMXF)?

Big One has a reported MRE of 2.1 Mt @ 1.1% Cu, representing about 21,000 t of contained copper. According to the company, this MRE underpins the priority to secure a mining lease.

How does New Frontier plan to process copper from the Big One Deposit (NFMXF)?

The company aims to formalize a revenue-sharing processing agreement with Austral Resources at the Mt. Kelly facility. According to the company, this is a key near-term development pathway for ore processing.

Does the Feb 23, 2026 announcement mean the 12–58 Mt is a proven resource for NFMXF?

No, the 12–58 Mt figure is an Exploration Target, not a JORC mineral resource or reserve. According to the company, further RC and diamond drilling is planned to test and upgrade the target.

What near-term work did New Frontier Minerals (NFMXF) say it will pursue after the Feb 23, 2026 update?

The company plans to secure the Big One mining lease, progress drilling at Big One and Big One North, and visit 14 priority prospects. According to the company, these steps aim to define mineralisation and development options.