True North Copper (ASX:TNC) has identified “significant” gold and copper mineralisation at the Wallace North discovery within its greater Cloncurry Copper Project in northwest Queensland, guiding the complex to become a production hub.
A recent drilling program at the prospect returned a potential for a new copper-gold shoot extending 60m along strike of the resource.
Intersections returned include 19m @ 2.18% copper, 1.76 grams per tonne gold from 106m including 9m @ 4.33% copper, 3.64g/t gold from 108m at drillhole WRC255.
Other intersections that extend strike to hanging wall and footwall zones for the same hole returned 17m @ 1.08% copper, 0.24g/t gold from 76m including 2m @ 6.38% copper, 0.24g/t gold from 80m, and 3m @ 0.69% copper, 4.95g/t gold from 135m, confirming continuity beyond the proposed pit.
True North is currently planning a shallow, systematic drilling program across three trends over the 8km corridor at Wallace North.
Searching deeper at Aquila
At the company’s Mt Oxide Project in Queensland, phase two of drilling at the Aquila prospect follows the extension of discovery’s depth to 420m and width to 100m.
True North says drilling has validated the discovery’s potential to be a “large scale copper, cobalt, silver target”, returning intersections of 10m @ 0.10% copper, 0.3g/t silver from 73m, and 10m @ 0.14% copper, 0.2g/t silver from 411m.
Managing Director Bevan Jones says the company is entering a “new and exciting” growth phase with its recent discoveries across the Cloncurry and Mt Oxide projects.
“The Cloncurry and Mt Oxide discoveries reflect our strategy at work – driving real value for shareholders,” Jones says.
“At Cloncurry, we have identified a major opportunity for resource growth at Wallace North. Our latest high-grade copper-gold drill intercepts are the best we’ve seen at the deposit to date, confirming the potential for a much larger system.
“The Mt Oxide Project has delivered a transformational outcome. We have also confirmed extensions to the Vero Resource and upgraded the Rhea target. This is the first time in over 44 years that this kind of greenfield exploration has been undertaken on these tenements.”
True North Copper is a copper explorer focused on developing its portfolio of assets in the Mt Isa Inlier, Queensland.
Write to Maddison Elliott at Mining.com.au
Images: True North Copper
