Highlights:

  • NT Department of Mining and Energy approves NFM's maiden RC drilling campaign.
  • Up to 46 drill-holes planned to test high-priority rare earth and niobium targets.
  • NFM applies for US OTCQB listing to broaden visibility and access US investors.

New Frontier Minerals Limited (LSE:NFM) has received approval from the Northern Territory Department of Mining and Energy (DME) for its first reverse circulation (RC) drilling program at the Harts Range Heavy Rare Earths and Niobium Project, located 140km north-east of Alice Springs, NT, Australia.

The campaign will include up to 46 RC drill-holes, covering around 2,500m. The drilling is designed to test multiple high-priority anomalies identified through regional geophysics, detailed geological mapping, and surface geochemistry conducted over the past 12 months.

Exploration Focus
The program aims to assess the depth extension of near-surface mineralisation, with particular attention to dysprosium and terbium. These elements are critical for high-performance permanent magnets used in electric vehicles, wind turbines, and advanced defence technologies.

Planning and preparatory work are ongoing, including logistics and drill pad construction, ahead of mobilising the drilling crew to site.

Metallurgical Test Work
NFM expects to receive results soon from metallurgical studies conducted on a 25kg bulk sample from the Cusp Prospect. The testing is intended to identify pathways for beneficiation and separation to support future processing options and potential offtake discussions with international magnet industry partners.

US OTCQB Market Listing
Following a strategic review, NFM has applied to list on the US OTCQB market. The objective is to increase the company's international profile and provide access to US investors seeking exposure to Australian explorers focused on critical minerals, particularly heavy rare earth elements.

Next Steps
The RC drilling campaign is scheduled to begin once site preparations are complete, with the program designed to deliver insights into the depth and extent of heavy rare earth and niobium mineralisation at Harts Range. Results from both drilling and metallurgical testing are expected to provide further data on the project’s mineral potential.

Share Performance of NFM

NFM was trading 2.27% lower at 1.08 GBX per share as of 10 November 2025.