The mining lease application (MLA) over the Big One copper deposit, part of ASX-listed New Frontier Minerals’ NWQ copper project, in north-west Queensland, has progressed into the technical assessment phase.

The Queensland Natural Resources and Mines Department has confirmed completion of the initial regulatory review and is now undertaking a detailed technical assessment of the MLA.

“Advancement of the MLA into technical assessment represents 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,” says chairperson Gerrard Hall.

The Big One deposit hosts a Joint Ore Reserves Committee-compliant mineral resource of 2.1-million tonnes at 1.1% copper, and an additional 7 000 t at 1.3% copper of surface indicated stockpiles, positioning the project as a potential near-term cash flow opportunity.

Further resource drilling could potentially extend known mineralisation at the deposit.

The MLA for the Big One deposit strengthens New Frontier’s position across the broader NWQ copper project, which is located within a well-established district hosting multiple operating mines and development projects with access to regional infrastructure and processing facilities.

The MLA is supported by an initial development plan outlining a potential opencut mining scenario designed to test and extract near-surface copper mineralisation.

Subject to approvals, preparatory earthworks are expected to start in the third quarter of this year.

The development plan proposes mining and haulage to the Mt Kelly processing facility, operated by Austral Resources.

The current copper upcycle has seen the copper price exceed $12 500/t.

The company would now continue engagement with the Queensland Natural Resources and Mines Department as the MLA advances through the technical assessment; and to progress assessment of priority mining areas and historical stockpiles outside the current mineral resource estimate.