The Conversation (0)
True North Copper (ASX:TNC)) is a responsible explorer, developer and producer of critical minerals focusing on copper and cobalt. The company's most significant projects Mt Oxide and Cloncurry are located within the Mt Isa Inlier region, home to several world-class critical minerals projects.
TNC has global measured, indicated and inferred resources containing 336,200 tonnes copper, 21,890 tonnes cobalt, 88,000 oz gold, 4.31 million ounces (Moz) silver. It is trading on the Australian Stock Exchange in mid-June 2023, following a reverse takeover merger with exploration company Duke Exploration in February 2023.
Visual representation of Mt Oxide Project and Cloncurry Project tenements and resources summaryThe Mt Oxide and Cloncurry Projects benefit from low capex, and low-cost production. Mt Oxide Project is a highly prospective and underexplored asset, featuring significantly sized, high-grade copper with cobalt and silver mineralisation.
Company Highlights
- Tier 1 jurisdiction, Queensland-based copper and cobalt exploration and development company with a global measured, indicated and inferred resource containing: 336.2 kt copper, 21.89 kt cobalt, 88 koz gold, 4.31 Moz silver. Key projects located within Australia's Mt Isa Inlier region, home to some of the country's most well-known mining projects.
- Mt Oxide and Cloncurry Projects benefit from low capex, low-cost production.
- Cloncurry Project - producing copper sulphate, with a projected production of 10,000 to 15,000 tonnes per annum over a 10-year mine life. Exclusive offtake agreement for all Cloncurry-produced copper sulphate with Kanins International. Prices set at LME rate plus a premium.
- Mining restart studies for the Great Australia Mine finalised - Q3 2023. Mining recommencement decision - Q4 2023.
- Great Australia Mine drilling and exploration program - extended structurally controlled, down-dip feeder to mineralisation located beneath the GAM Pit, with notable intersections of copper mineralisation. IP survey conducted over the Greater Australian Target identified four high-order IP chargeability anomalies, with compelling targets for future drill testing.
- Mt Oxide Project’s Vero Resource contains 15.98 Mt at 1.43 percent copper and 6.91 g/t silver combined measured, indicated and inferred resource, and a separate 9.15 Mt at .23 percent cobalt total combined measured, indicated and inferred resource.
- First hole of an initial diamond drilling program at Vero Resource intersected 66.5 meters at 4.95 percent copper. Assay results returning throughout Q3 2023.
- Strong ESG focus across all operational elements including:
- Hitachi Vantara partnership to improve transparency and data capture while realising business savings through artificial intelligence.
- Leveraging the Queensland government's Powerlink-led CopperString 2032 project, which is situated less than 5 kilometres from the Cloncurry project. Rehabilitated TNC mining landforms are being transformed into renewable solar energy sources and will feed into the CopperString network.
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