True North zeroes in on Cloncurry copper feasibility study
By Industry Queensland
True North Copper (ASX: TNC) has advanced its Cloncurry Copper Project toward a pre-feasibility study, targeting completion by the end of 2026.
The company completed its 2026 drilling program at the North-West Queensland project during the June quarter and advanced metallurgical and geotechnical studies.
It said the study would evaluate a “robust and right-sized” development leaning on existing regional infrastructure the company said.
Main image: Mark-up of diamond drill core from CCP Drilling Program at Wallace North
True North said it strengthened the project by consolidating the Mongoose deposit, acquiring Renegade Exploration’s interest in the Carpentaria Joint Venture.
Related: Drilling confirms Mt Oxide copper system stretches 1.8km at Aquila
The deal let the company assess the neighbouring Mongoose and Taipan deposits within the study, which together hold about 8.3 million tonnes of resources, it said in the June quarterly ASX.
That represented about half of the Cloncurry project’s total mineral resource base, the company said.
Wallace North
Drilling also confirmed a new high-grade copper-gold structure at Wallace North, which the company described as its best exploration intercept there to date.
True North said the structure remained open along strike and at depth, supporting potential resource growth within the emerging Wallace-Wynberg corridor.
The company also trimmed its portfolio, divesting the Prairie Creek gold project and agreeing to sell the Bundarra copper project while keeping royalty and equity exposure.
It said the sales recycled capital toward its core growth assets at Mt Oxide and Cloncurry.
On the corporate front, True North appointed Matt Porter, a Mt Isa exploration geologist with more than 20 years’ experience, as its exploration manager.
True North ended the quarter with $7.1 million in cash, after spending $4.5 million on exploration during the period.
The company said it had sufficient capital to complete its current exploration program and could raise further funding as required.
