New Frontier Minerals (ASX:NFM) announced a significant leap in its vertical integration strategy by entering a binding agreement to acquire a 60% interest in the Pomme Rare Earth Element and Niobium Project in Quebec, Canada.
The strategic partnership with Metallium (ASX: MTM) not only adds a high-grade Canadian asset to NFM’s portfolio but also establishes a "western world jurisdictional partnership" designed to bolster supply chain security.
Under the terms of the deal, NFM will pay an initial $100,000 in cash and $200,000 in shares, with further interest earned through staged technical milestones.
The Pomme Project is a large carbonatite-hosted system with impressive historical intercepts, including 30.5m @ 1.13% TREO and 513m @ 0.33% TREO.
Metallium will serve as a technical partner, overseeing metallurgical studies and innovative flash joule heating test work to optimise mineral recovery.
The project benefits from exceptional infrastructure, including logging road access, hydro-electric power, and strong existing relations with the Cree First Nations of Waswanipi.
To support this expansion and increase its visibility within North American capital markets, NFM has engaged New York-based Viriathus Investor Advisory.
At the time of reporting, New Frontier Minerals’ share price was $0.016.