True North Copper (ASX:TNC) has uncovered several unexplored copper targets at its Mt Oxide Project in Queensland following completion of a geophysical survey.
Managing Director Bevan Jones says the new “highly prospective” targets share similar characteristics with True North’s high-grade Vero deposit.
“The results of this survey, which has been supported by a Queensland Government CEI Grant, have uncovered significant anomalies at both the historic Mt Gordon Copper Mine and Aquila Prospect,” he says.
“These results are in addition to the positive results at Vero and Camp Gossans announced in August.
“With these exciting developments, we’re optimistic about expanding our exploration footprint and identifying additional drill targets.”
True North recently updated the resource for its Vero deposit to 15.03 million tonnes @ 1.46% copper and 10.59 grams per tonne silver, for a contained 220,000 tonnes of copper and 5.13 million ounces of silver.
More than 75% of the Vero resource is in the higher confidence indicated category or better. The resource also remains open at depth.
Three new shallow and untested anomalies were identified at the Mt Gordon Mine that are similar to the Vero resource and partially coincident with historic drilling intersections, including 1.9m @ 3.0% copper from 106m downhole.
Over at the Aquila Prospect, True North says two chargeability highs identified are coincident with mapped iron oxide-rich breccias which returned up to 0.94% copper in rock chip samples.
The two targets measure 20m wide, with one associated with a 150m long trend of fault breccias with anomalous copper and no previous drilling.
Target two is up to 25m deep, has not been drill tested, and correlates with a Dorman trending structure 80m below surface.
The geophysical survey is nearing completion with processing pending on Ivena North and an additional line being undertaken at Camp Gossans to test the strike extent of the anomaly at Camp Gossans and the new Black Marlin target .
Sampling is also being undertaken over previously identified mineralised structures at Aquila, Rhea and Black Marlin.
These new geophysics will be integrated with ongoing mapping and surface geochemical sampling campaigns to identify and prioritise targets for future drill campaigns.
“The continued integration of geophysics, mapping, and sampling will be key to advancing our future exploration programs at Mt Oxide, including the design of the next phase of drilling,” Jones says.
Heritage clearance and access planning for drilling has also started.
True North’s Mt Oxide Project encompasses the 11km Mt Oxide Corridor, which hosts copper-cobalt-lead-zinc mineralisation, and the 8km Big Oxide Corridor, known for lead-zinc (copper-cobalt) mineralisation.
Earlier in September, True North mined the first oxide ore from the Wallace North deposit, part of the Cloncurry Copper Project.
Write to Angela East at Mining.com.au
Images: True North Copper
