True North Copper (ASX:TNC) has reported an updated mineral resource estimate (MRE) for the Wallace North copper-gold deposit at the wholly owned Cloncurry Copper Project in Northwest Queensland.
The updated MRE incorporates the reverse circulation drilling that was completed in 2025 and includes depletion from minor mining activities in 2024.
The company notes that the updated MRE confirms geological continuity and robustness for the Wallace North deposit. Taking into account the depletion from 2024, the MRE outlines increases of approximately 12% in tonnes, 9% in contained copper, and 11% in contained gold.
Managing Director Andrew Mooney says that the updated MRE provides the company with a strong outlook for the work being undertaken at the Cloncurry Copper Project.
“With the addition of only two drillholes, and after allowing for mining depletion, the resource has grown modestly while grades and geometry have remained consistent. That outcome reinforces our confidence in the geological model and the quality of the historic drilling,” Mooney says.
“Impotantly, this gives us a current and reliable technical baseline as we continue Prefeasibility study work across the Cloncurry Copper Project.”
True North’s updated MRE will provide a technical baseline to support the ongoing Prefeasibility study work, including the evaluation for potential future development.
The updated MRE is reported at a 0.30% copper cut-off and classified in accordance with JORC Code (2012), based on geological continuity, drill spacing, and geostatistical confidence.
Near-term, the company is focused on activities to strengthen the key technical inputs and test the potential for further resource growth.
True North will engage in a resource update for the Great Australia Mine to strengthen the technical foundation and overall development framework for Cloncurry, engage in targeted extension and infill drilling at Wallace North, and conduct metallurgical and geotechnical drilling and testwork.
True North Copper is focused on a three-stage growth strategy involving developing the Cloncurry Copper Project, growing Mt Oxide, and discovering additional regional targets.
Write to Amy Rotman at Mining.com.au
Images: True North Copper
