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This copper-cobalt project has ‘exceptional discovery potential’

Mt Oxide

True North Copper is gearing up to make a discovery at its Camp Gossans prospect within the Mt Oxide project in north-west Queensland.

Rock chip sampling and surveying has revealed strongly anomalous copper-cobalt zones at Camp Gossans, spanning a combined strike length of more than 500m.

The zones include Alpha Gossan, which extends over 300m and is up to 9m in width, and Gamma Gossan, which contains visible copper oxide mineralisation.

Alpha Gossan returned up to 0.11 per cent copper and 0.3 grams per tonne gold, while Gamma Gossan returned up to 0.12 per cent copper.

“Camp Gossans is a high priority 2024 exploration target at our Mt Oxide project. We believe it holds exceptional discovery potential,” True North managing director Marty Costello said.

“The footprint and geochemical results at Camp Gossans are also similar in size, mineralisation style and geochemical anomalism to the discovery outcrops at Esperanza and Esperanza South, which have produced significant copper at the Capricorn copper project that lies 25km to the south.”

Camp Gossans is part of the larger Dorman Fault mineral system, which extends more than 10km and hosts Mt Oxide’s Vero deposit.

Mineralisation at Camp Gossans is developed in the Gunpowder Creek formation that hosts several other copper deposits in the region including Vero, Lady Loretta and Esperanza, the latter two being significant ore sources for Glencore and 29Metals.

True North’s results compare with anomalies discovered from leached gossans formed above the Esperanza (8.4 million tonnes (Mt) at 7.9 per cent copper) and Esperanza South deposits (2.7Mt at 2 per cent copper) deposits at the Capricorn copper operation.

Esperanza and Esperanza South returned up to 0.62 per cent copper and 0.24 per cent copper, respectively, in historic rock chips from leached gossans at surface.

“Despite significant historical investment by previous Mt Oxide owners at the Vero resource, multiple prospects including Camp Gossans, have never been systematically explored or drill tested,” Costello said.

“Camp Gossans is now a confirmed … priority for geophysics programs and drilling in 2024.”

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