True North Copper (ASX:TNC) says its 2024 exploration program is focused on transformative discoveries across its Mt Oxide and Cloncurry Copper projects in Queensland.
Managing Director Marty Costello says: “Our 2024 exploration program is focused on transformative discoveries in-and-around large-scale mineral systems within the Mt Isa Inlier.
By the second half of 2024 we will be able to aggressively drill test a series of high-quality, priority exploration targets across the prospective, underexplored and phenomenally mineralised Mt Oxide Project tenements.”
At Mt Oxide, the $49.40 million market capitalisation company aims to unlock the projects underexplored, ‘high-quality’ targets and potential beyond its Vero resource, including the more than 10km trend along the Dorman fault zone with intermittently outcropping gossanous/silica breccias.
To date, True North has uncovered multiple ‘high priority’ exploration targets at Mt Oxide, including Aquilla and Mt Gordon, Ivena North, Camp Gossans, Cave Creek, and Big Oxide district.
Meanwhile, at the Cloncurry project, True North will prioritise several exploration targets that offer the potential to add ‘significant’ tonnes to the project’s life of mine.
As this news service previously reported, the company kicked off operations last week (15 February), starting at the Wallace North open-cut pit to target ‘higher grade’ ores from surface mining.
Costello says the company is also pursuing exploration and expansion opportunities at its Great Australian Mine and Wallace North deposits, alongside multiple exploration targets within the strategic tenure package around Cloncurry.
“Our 2023 exploration program identified significant potential for CCP mine-life expansion beyond our current plans and our 2024 exploration program will build even further on developing our promising long-term growth prospects.
We will be updating our resources and reserves throughout 2024, starting with the Vero resource at Mt Oxide in early 2024, followed by further work underway at our Cloncurry Copper Project.”
The company’s Cloncurry and Mt Oxide projects lie in the Mt Isa Inlier and are considered prospective for copper and other critical minerals.
True North Copper is an Australian copper and cobalt explorer headquartered in Cairns.
As of 31 December 2023, the company had $1.635 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: True North Copper
