New Frontier Minerals (ASX:NFM) started a high-resolution, helicopter-borne radiometric and magnetic survey at the Harts Range project in the Northern Territory, according to a Monday filing with the Australian bourse.
The geophysical survey data aims to accelerate regional exploration, identifying extensions of known uranium, niobium, and heavy rare earth mineralization, with a focus on studying pegmatites using publicly available satellite imagery, the filing said.
The survey is set to be completed this month, with the geophysical data interpretation expected to be completed in February, according to the filing.
Shares fell nearly 6% in afternoon trade on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.