Frontier Resources : High-Grade Rare Earth Discoveries Confirmed

ADDRESS	ABN
Level 8, 99 St Georges Terrace	96 095 684 389
Perth WA 6000
PHONE	WEBSITE
[phone]	www.frontierresources.net.au

21 March 2022

For personal use only

High-Grade Rare Earth Discoveries Confirmed

• Exceptional high-graderare-earth results from rock chips across multiple targets at the Gascoyne Rare Earths Project. Significant results include:
• • 8.01% TREO (2.8% Nd2O3+Pr6O11) Lyon_11 (GPR012)
  • 6.44% TREO (2.3% Nd2O3+Pr6O11) Lyon_11 (GPR019)
  • 5.27% TREO (1.9% Nd2O3+Pr6O11) Lyon_11 (GPR020)
  • 4.32% TREO (1.53% Nd2O3+Pr6O11) Lyon_11 (GPR013)
  • 4.17% TREO (1.69% Nd2O3+Pr6O11) Lyon_11 (GPR013)
  • 3.38% TREO (1.3% Nd2O3+Pr6O11) Lyon_11 (GPR035)
  • 2.53% TREO (1.15% Nd2O3+Pr6O11) Lyon_13 (GPR082)
  • 1.23% TREO (0.55% Nd2O3+Pr6O11) Lyon_12 (GPR069)
  • 1.77% TREO (0.79% Nd2O3+Pr6O11) Lyon_27 (GPR108)
• Potential carbonatite association to be investigated relating to mineralised phosphate and TREO. Significant results from newly discovered southern extension of Lyon_13:
• • 7.85% P2O5 and 1.36% TREO Lyon_13 (GPR077)
  • 5.86% P2O5 and 1.14% TREO Lyon_13 (GPR078)
• Outstanding high-grade neodymium and praseodymium ratios of total rare earth oxides ("TREO") of up to 58.8%, with early metallurgical test work commencing shortly to determine the amenability of the ironstones to produce a commercially treatable monazite concentrate.
• Discoveries validate geological model of exploring the Gifford Creek Carbonatite Complex, adjacent to the world class Hastings Yangibana Project, with a multitude of targets to follow up.
• The new REE ironstones significantly increase the footprint of known REE mineralisation to >2.5kms of strike length.

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Figure 1. Map showing the location of high-grade rock chip samples at the Lyons Project and the location of

mapped outcropping ironstones and their interpreted extensions under shallow cover.

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Mr Brian Thomas, Frontier Technical Director commented "These high tenor REE results are extremely exciting and again vindicates our early mover advantage in the Gascoyne Region securing such a highly prospective land package adjacent to Hastings world class Yangibana project. We are now part of an emerging REE province with multiple new discoveries being made between Dreadnought Resource and ourselves, culminating in a very exciting time for our Company and the region. The Lyons and Edmunds Projects are still very underexplored and with our rapidly evolving geological understanding I'm looking forward to a busy exploration schedule throughout 2022."

Frontier Resources Ltd (ASX: FNT) (Frontier or the Company) is pleased to announce rock chip assay results from the Gascoyne Rare Earths Project in Western Australia (Gascoyne Project). A systematic field sampling program was recently completed to investigate high priority targets located within Forthe Gifford Creek Carbonatite Complex, host to Hastings Technology Metals'(ASX:HAS) world-classYangibana Mineral Resource¹ of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11, and Dreadnought

Resources multiple discoveries².

A total of 134 rock chip samples were sent to ALS Laboratory, with a peak result of 8.01% TREO, (refer significant results reported in Table 1). Of note, 54 samples returned potentially economic REE grades of >0.1% combined Nd2O3+Pr6O11, and 31 samples greater than 1% TREO.

The Company also completed a detailed mineralogy study with Diamantina Laboratories in Perth, which importantly confirmed the presence of monazite mineralisation in ironstones. Initial

metallurgical test work will commence shortly to determine the amenability of the ironstones to produce a commercially treatable monazite concentrate. Heritage surveys are in planning and applications for the necessary permits have been submitted to allow for a maiden drill program in

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Figure 2. High-gradeironstone at Lyon_11 prospect returning a peak of 8.01% TREO,

above samples GPR027 (2.07% TREO) and sample GRP032 (3.05% TREO)

the later half of Q2, 2022. Drilling will be critical to understanding the resource potential of the mineralised ironstones, to determine width, grade plus continuity at depth and along strike of interpreted ironstone trends.

Further rock chip sampling and drilling programs are planned to investigate additional targets not yet followed up, including thorium geophysical anomalies throughout the Lyons Project and the high priority structural target along the major Bald Hill lineament which transects the Edmund Project only(Figure 4). Potential remains for further discoveries of ironstones and carbonatites where no historical

REE exploration has occurred.

usepersonalMineralogy

The ironstones discovered at the Lyons Project, like the Yangibana ironstones, are unique to REE deposits globally due to the high proportion of neodymium and praseodymium in the total rare earth oxides, with rock chips from Lyons containing up to a 58.8% Nd:Pr ratio (Nd2O3+Pr6O11 content of TREO).

Diamantina Laboratories completed mineralogical analysis of the ironstones, which included SEM analysis of samples along with polarising light microscopy studies of polished thin sections. Results concluded sample GPR036 (2.17% TREO) is classified as a Monazite bearing siliceous ironstone, which supports light rare earths and are predominantly associated within the phosphate mineral monazite, analogous to the Yangibana and Dreadnought ironstones.

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Figure 3. Monazite bearing siliceous ironstone sample GPR036 (2.17% TREO)

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Table 1: Significant (>0.1% Nd2O3+Pr6O11) rock chip results (GDA94)

Sample ID	Latitude	Longitude	TREO %	Nd2O3+Pr6O11% NdPr % of TREO Prospect
GPR009	-23.981248	116.347250	0.32	0.11	34.30%
GPR010	-31.780803	115.755302	0.48	0.16	33.30%
GPR012	-23.980632	116.348347	8.01	2.80	35.00%
GPR013	-23.980636	116.348298	4.32	1.53	35.40%
GPR014	-23.980653	116.348220	3.12	1.19	38.10%
GPR015	-23.980680	116.348160	2.18	0.78	35.80%
GPR016	-23.980770	116.348014	4.17	1.69	40.50%
GPR017	-23.980804	116.347975	3.06	1.15	37.60%
GPR018	-23.980835	116.347808	0.48	0.12	25.00%
GPR019	-23.980855	116.347771	6.44	2.30	35.70%
GPR020	-23.980892	116.347747	5.27	1.93	36.60%
GPR021	-23.980899	116.347705	3.35	1.30	38.80%
GPR022	-23.980910	116.347674	1.70	0.61	35.90%
GPR023	-23.980915	116.347637	2.72	1.02	37.50%
GPR024	-23.980930	116.347600	0.67	0.20	29.90%	Lyon_11
GPR026	-23.980950	116.347554	2.93	1.02	34.80%
GPR027	-23.980984	116.347493	2.07	0.65	31.40%
GPR028	-23.981003	116.347462	0.42	0.10	23.80%
GPR029	-23.981043	116.347442	2.17	0.66	30.40%
GPR030	-23.981083	116.347425	1.58	0.50	31.60%
GPR032	-23.981109	116.347391	3.05	1.04	34.10%
GPR035	-23.981145	116.347289	3.38	1.27	37.60%
GPR036	-23.981190	116.347293	2.17	0.67	30.90%
GPR037	-23.981217	116.347287	0.55	0.15	27.30%
GPR038	-23.981241	116.347273	1.22	0.47	38.50%
GPR039	-23.981268	116.347251	0.65	0.18	27.70%
GPR040	-23.981295	116.347236	0.50	0.14	28.00%
GPR041	-23.981290	116.347287	1.12	0.37	33.00%
GPR042	-23.981245	116.347306	0.38	0.11	28.90%
GPR064	-23.952874	116.334555	0.31	0.12	38.70%
GPR065	-23.952680	116.334375	0.29	0.11	37.90%
GPR066	-23.952555	116.334379	0.87	0.40	46.00%
GPR069	-23.952288	116.333653	1.23	0.55	44.70%	Lyon_12
GPR070	-23.951895	116.334011	0.62	0.29	46.80%
GPR071	-23.951825	116.334241	1.05	0.57	54.30%
GPR072	-23.949934	116.333349	0.38	0.14	36.80%
GPR074	-23.950003	116.333385	0.52	0.25	48.10%
GPR054	-23.955176	116.336116	0.58	0.27	46.60%
GPR055	-23.955141	116.336124	0.71	0.32	45.10%
GPR056	-23.955138	116.336073	1.06	0.47	44.30%
GPR057	-23.955080	116.336018	0.72	0.32	44.40%
GPR058	-23.954989	116.335930	0.79	0.37	46.80%
GPR059	-23.954905	116.335850	1.45	0.75	51.70%
GPR060	-23.954808	116.335833	0.57	0.27	47.40%
GPR062	-23.954421	116.335629	0.47	0.20	42.60%	Lyon_13
GPR076	-23.959555	116.340292	0.69	0.26	37.70%
GPR077	-23.958913	116.340107	1.36	0.80	58.80%
GPR078	-23.957232	116.338215	1.14	0.58	50.90%
GPR079	-23.957157	116.338159	0.76	0.34	44.70%
GPR081	-23.957414	116.338653	0.97	0.50	51.50%
GPR082	-23.957520	116.339012	2.53	1.15	45.50%
GPR083	-23.957583	116.339252	2.18	1.05	48.20%
GPR107	-23.938774	116.350821	1.73	0.75	43.40%	Lyon_27
GPR108	-23.938765	116.350828	1.77	0.79	44.60%

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Figure 4. Location of Lyons and Edmund Projects in the Gascoyne, Western Australia, (geology overlay), highlighting the

prospective Durlacher Suite of the Gifford Creek Carbonatite Complex, in pink underlying the project areas Gascoyne Rare Earth Element Project - Discussion

In a review of an extensive merged airborne geophysical dataset, Frontier has identified over 30 interpreted ironstone targets traced up to 4 kilometres in length within outcrop, most of which are a sociated with targets identified by independent consultants Southern Geoscience (refer to ASX Announcement dated 11 February 2022). The primary targets are regionally extensive ironstone dykes that carry anomalous REE. Hastings have identified ferrocarbonatites and ironstones traceable for up to 25 kilometres at their Yangibana REE deposits (including the Auer, Auer North and Simon's Find prospects), which show a close association with the major Bald Hill lineament that is interpreted to transect through both the Lyons and Edmund Project areas.

These linear prospects (Figure 5) correlate to anomalous signatures in the radiometric Thorium geophysical imagery and magnetic low lineaments in the reduced to pole first vertical derivative (RTPVD1) filtered magnetics imagery. Ironstone dykes at Yangibana are associated with Forfe rocarbonatite intrusions and surrounded by narrow haloes of magnetic fenitic alteration. Similar magnetic high lineaments that may be associated with fenitic alteration are identified adjacent to

and along the linear targets identified by Frontier.

Outcropping geology has been interpreted from broadscale anomalous radiometric (K and Th) imagery. These are areas of higher priority due to accessibility for rock chip sampling and geological mapping.

Second priority sub-surface magnetic lineament lows beneath alluvial plains are planned to be followed-up with soil sampling and drilling.

The project also has potential for REE mineralisation associated with circular carbonatite bodies interpreted from magnetics imagery, including Lyons_23, which potentially show associated magnetic fenite alteration, similar to the Mangaroon Carbonatites identified by neighbouring Dreadnought Resources.

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