Our Assets
Mt Oxide Project
Status
Exploration and Resource Development
Jurisdiction
Tier 1, Australia
Ownership
100% TNC
Location
North West Queensland
Mineral Resources
220 kt Cu, 5.13 Moz Ag, 21.2 kt Co (JORC 2012)
Metals
Copper
Cobalt
Silver
Project Overview
The Mt Oxide Project has established infrastructure, including an exploration camp and proximity to a processing plant and power grid. The project offers excellent copper exploration potential, having no systematic district-scale exploration in the last 20 years, despite being in the Mt Isa Inlier - a world-class copper province.
True North Copper’s immediate Mt Oxide Project exploration and resource development program has focused on making new discoveries to build a district of satellite deposits around the Vero Resource (15.03Mt at 1.46% copper and 10.59 g/t silver (Indicated and Inferred), 9.15 Mt at 0.23% cobalt (Measured, Indicated and Inferred)).
True North has applied a systematic ‘boots on ground’ approach that has included mapping, geochemistry and geophysics to identify, define and prioritise multiple drill ready targets. Targets consist of up to 500m long, +15m wide gossanous breccias with strongly anomalous copper and key geochemical pathfinders (Ag, Co, As, Sb, Bi). These targets are hosted along a 10km long section of a major regional structure that hosts the Vero Resource.
Below a number of these gossans, innovative geophysics, funded by a Queensland Government grant, has identified strong geophysical anomalies which are similar to those associated with the Vero Resource. These new anomalies are shallow and may potentially represent open-pittable, high-grade copper mineralisation with signatures that indicate significant depth potential.
Next steps for exploration at Mt Oxide include drill testing of these new and exciting targets, extensions to the geophysics surveys, and further target definition and prioritisation.
Our aim is to build a series of new additions to the resource base and develop an understanding of the potential size of the regional-scale Mt Oxide mineral system.
Key Highlights
HIGH-GRADE RESOURCE
The project includes the Vero Resource, which consists of 15.03Mt at 1.46% copper, 10.59 g/t silver, and 9.15Mt at 0.23% cobalt.
Established Infrastructure
100km north of the Mt Isa Copper Smelter and 40km by road from 29Metals’ Capricorn Copper mine’s processing plant and power grid, the Mt Oxide Project benefits from existing infrastructure which can be leveraged for efficient mining and processing operations.
DEVELOPMENT POTENTIAL
The Vero Resource has excellent resource growth potential being open-to-depth and along-strike in both directions.
EXPLORATION POTENTIAL
Located on a major crustal scale structure, the Vero Resource only represents a small part of a much larger district-scale copper mineral system. With 10km of this structure remaining underexplored, discoveries of scale at shallow depths with the same high-grade nature as Vero are possible.
DISCOVERY READY
New systematic exploration has revealed the true potential of the mineral system, identifying multiple large-scale outcropping mineralised zones with strong geophysical anomalies that are ready for drill testing.
