True North Copper has expanded its copper footprint near Mt Isa with what the producer described as ‘phenomenal’ assay results.
True North has been busy defining its Vero resource at its wholly owned Mt Oxide project, 140km north of Mt Isa in Queensland.
The latest results confirm that the Vero resource hosts a large-scale copper-cobalt-silver system.
Results included a 26m intercept of 4.45 per cent copper, 42.9 grams per tonne (g/t) gold, and 1,964 parts per million (ppm) cobalt taken from a depth of 258.8m; and a 4.2m intercept of 11.15 per cent copper, 129.5g/t gold, and 135 ppm cobalt from a depth of 352.5m.
True North Copper managing director Marty Costello said the company was thrilled to report the results.
“We are in the process of constructing a new geological model that will inform Vero Resource re-estimation and advance ongoing mining studies,” Costello said.
“Assay results continue to confirm the Vero Resource’s phenomenal mineralisation. However, we are also committed to strategic exploration across the entire Mt Oxide Project and identifying other high-grade copper, cobalt and silver deposits.”
True North is also targeting copper growth at Cloncurry, with the company striking a one metre intercept that yielded an impressive 14.05 per cent copper and 25.7 grams per tonne (g/t) gold, taken from a relatively shallow depth of 29m.
True North commenced copper sulphate production at it’s broader Cloncurry operations in the second half of the year, and expects to ramp up to commercial production levels in the current quarter.
True North sold roughly 25,600 tonnes of copper for $350,000 over the September quarter, with the miner’s plant out of action for 35 days.
The company a forecast production rate of 160,000 to 300,000 tonnes of copper for the December quarter