공시 • Feb 23
New Frontier Minerals Limited Provides Update on Project Area
The NWO project area is located within a Tier 1 exploration and development region, approximately 150 km north of Mt Isa in Oueensland, hosts several historic /currently operating copper mines including Lady Annie, Mt Oxide and Capricorn Copper. Extensive historical exploration has provided New Frontier with over within its 977km2 tenure, including the major 'Big One' copper discovery. This work compliments earlier anomalous polymetallic contouring of all available surface sampling completed by ROM Resources in 2017, 2018 (Biggs 2018) and 2019 (Biggs C Nowland, 2019) and various ASX releases prepared by Xplore Consultants during 2020 (Paull, 2020a,b,c,d,e). The other two (2) prospects (Pancake and Valparaisa) were completed by Mr. Geoff Reed (R3D Resources). Furthermore, there are strong historical surface copper anomalies to the north-west and south-east of the Big One Copper Mine, which should be covered by detailed geological mapping and soil sampling and then drill testing. Subsequently a geological work program, including a ground geophysical program has been planned (magnetics and gravity), more reverse circulation drilling to the immediate north and east of Big One Copper Mine, and an initial six (6) hole campaign at the eastern dyke limit with a substantial diamond core component followed by a bigger program to convert a large portion of the Exploration Target to a JORC Resource. The current study identified three (3) areas at Eldorado over which an Exploration Target6 (to the standard of Clause 17 of the 2012 JORC Code) has been estimated from the available mining and surface sampling data available, as given in tables A1-11 and A1-12. Historical QDEX /mineral exploration reports have been reviewed for historical tenures that cover or partially cover the Project Area in this announcement. Federal and State Government reports supplement the historical mineral exploration reporting (QDEX open file exploration records). Various Holders and related parties of the 'Big One' historical mining tenure (ML8451) completed a range of mining activities and exploration activities on what is now the 'Big One' prospect for EPM 26574. The following unpublished work is acknowledged (and previously shown in the reference list): Katz, E., 1970, Report on the Big One, Mt Devine, and Mt Martin Mining Lease Prospects, Forsayth Mineral Exploration NL, report to the Department of Mines, CR5353, 63pp. If so, it is hoped that other zones of similar electrical response can be highlighted to better focus the upcoming drill program. As a result of the evaluation of data from the IP surveys carried out, the following recommendations are made: The 2D section models are likely to give the most accurate representation of the earth's conductivity and chargeability variations and should be used when drill targeting. The 3D model output allows trends and structures to be mapped and may give some indications of off-line anomalies. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data., The assumptions made regarding recovery of by-products., Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed., Any assumptions behind modelling of selective mining units., Any assumptions about correlation between variables., Description of how the geological interpretation was used to control the resource estimates., Discussion of basis for using or not using grade cutting or capping., The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available., Big One Exploration Target, Block grade estimation for Cu was by inverse distance squared methods (ID2).ID2 was considered suitable for the style of mineralisation, size of mineralisation, size of blocks relative to the drill hole spacing, and the assumed open pit and the assumed open pit and underground mining selectivity., Drill holes were composited to 1m and data was composited to 1m and research selectivity., Drill holes were analyzed using Datamine Minescape Block Model software., Hard boundaries were adopted for lode wireframes, with each lode wireframes, with Each lode wireframes, with every lodes were adopted for lodes estimated independently., Hard boundaries were adopted for Lode wireframes, with eachLode wireframes, with eachlode wireframes, with each Lode wireframes were adopted for lode wireframe software., Hard boundaries were analyzed. Hard boundaries were adopted for lodes, with each lode wireframe, with each lode wire frames, with each lodes were analyzed, with each lode wire frame software., Hard boundaries were analyzed, with each lodes were adopted for lode wire frames.