New Frontier Minerals (ASX:NFM) said the interpretation of results from the geophysical survey at the Harts Range heavy rare earths, uranium, and niobium project in the Northern Territory identified 46 priority targets, according to a Monday Australian bourse filing.

The company ranked 18 of the targets as priority one targets, 16 as priority two, and 12 as priority three to follow up for mineralization.

A detailed 1-to-10,000 scale structural interpretation by independent consultant Southern Geoscience identified a local magnetic anomaly, potentially linked with an underlying intrusion, the company said.

The firm's geological team will use the geophysical data to launch a focused exploration campaign in April.

New Frontier Minerals' shares fell past 13% in recent trading on Monday.