After receiving assay results from a rock chip sampling program, True North Copper (ASX:TNC) has highlighted eight high-priority geochemically anomalous zones within the Mt Oxide Project in Queensland.
The areas of interest lie within the larger, structurally-complex footprint at the Aquilla and Ivena North prospects, with two of these zones remaining open to the north.
At Aquilla, sampling highlighted six zones of anomalous copper, cobalt, and arsenic, associated with multiple gossanous breccia structures up to 30m wide.
The assay results returned a combined 220m trend of strongly anomalous copper values, with widths up to 3m wide in four geochemical trends.
Meanwhile, at Ivena North, sampling identified copper, cobalt, and arsenic trends within two geochemically anomalous zones from multiple gossanous breccia structures that are up to 25m wide.
True North Copper, which has a market capitalisation of $35 million, says the anomalies identified, have similar pathfinder geochemical signatures and are within the order of magnitude of the results from Camp Gossans south of Vero, which are considered analogous to the leached gossan outcrops at the Esperanza South deposit.
Managing Director Bevan Jones says the exploration team have been working hard to map and sample the more than 10km Dorman fault trend at Mt Oxide.
“Multiple gossans have been identified, and rock chip results from the gossans are revealing large areas of wider and stronger mineralisation on which to focus our future exploration work, including the ongoing MIMDAS geophysical survey,” Jones says.
“We are also remobilising the on-ground team to systematically collect additional rock chip samples over the newly discovered Black Marlin and Rhea structures. Further geophysical results are filtering through, and updates will be released soon.
“We are potentially building a significant district at Mt Oxide with multiple high-priority targets which have never been drilled. Our next steps include prioritisation of these targets, designing and planning upcoming drill programs, and securing the necessary permits for on-ground access.”
True North is planning to complete a systematic rock chip sampling program over the new Black Marlin and Rhea targets, as well as an infill sampling program to determine the extent of identified geochemical anomalies at Aquilla and Ivena North.
Both Aquilla and Ivena North sit within the Mt Oxide Project, which is considered prospective for copper, cobalt, and silver. The project covers a 123km2 area and has a mineral resource of 228,000 tonnes of copper, 4 million ounces of silver, and 21,000 tonnes of cobalt.
True North Copper is a critical minerals-focused explorer that is making discoveries in the Cloncurry and Mt Oxide areas of Queensland, Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: True North Copper
