Game-Changing Copper Discovery Delivers Huge Win for True North Copper
True North Copper (ASX: TNC) has struck exploration gold with a significant new copper-cobalt-silver discovery at its Mt Oxide Project in Queensland, delivering potentially transformative results that validate the company's exploration strategy and suggest substantial resource growth potential.
Major New Discovery Confirms Regional-Scale Potential
The company's Aquila Prospect, located over 4km northeast of TNC's existing Vero Resource, has revealed a substantial new copper-cobalt-silver mineralised system through initial drilling. This discovery represents a potential step-change in the scale of the Mt Oxide Project, with the first three holes all hitting significant mineralisation.
Notable drill intersections include:
- MOX233: 30m @ 2.45% Cu, 0.02% Co, 6.2 g/t Ag from 20m including 10m @ 5.31% Cu from 31m
- MOX232: 145m @ 0.75% Cu, 0.13% Co, 2.9 g/t Ag from 28m including 53m @ 1.18% Cu from 86m
- MOX231: 34m @ 0.71% Cu, 0.05% Co, 2.5 g/t Ag from 146m including 16m @ 1.25% Cu from 163m
The significance of these results extends beyond just the copper grades – the presence of high-grade cobalt (up to 0.52% Co) and silver (up to 15.9 g/t Ag) adds important potential value streams to the True North Copper copper discovery.
"Today is a truly game-changing day for True North," said Managing Director Bevan Jones. "We're seeing a 150m wide, continuous mineral system with high-grade cores and strong geochemical signatures, starting from shallow depths. And critically, it's open along strike and at depth, meaning there's huge potential for us to grow this significantly."
Systematic Exploration Approach Delivers Results
This True North Copper copper discovery didn't happen by accident. The company employed an integrated, multi-disciplinary exploration approach, combining detailed structural mapping, geochemical sampling, and advanced geophysical modelling. The Queensland Government's CEI program co-funded the MIMDAS induced polarisation surveys that helped identify the target.
The discovery validates TNC's systematic, targeted exploration approach and demonstrates the company's ability to effectively identify and test prospective targets within its project portfolio.
Understanding the Mineralisation Style
The Aquila discovery shows similar characteristics to TNC's existing Vero deposit, with a broad, lower-grade copper halo surrounding high-grade core zones. The system appears to be at least 150m wide with multiple high-grade structural zones.
The geochemical signature includes elevated levels of antimony, bismuth, and cobalt—similar to patterns seen at Vero. Importantly, cobalt grades in some intersections are comparable to those in the Vero Cobalt resource (9.15Mt @ 0.23% Co), which is one of Australia's highest-grade primary sulphide cobalt resources.
What Makes This Discovery Significant?
Several factors contribute to the importance of this True North Copper copper discovery:
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Strategic Location: The mineralisation sits within the same corridor that hosts the Vero deposit (
4km southwest) and the Capricorn Copper deposit (25km south) -
Shallow, High-Grade Mineralisation: The discovery includes exceptional copper grades starting from shallow depths, enhancing economic potential
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Open System: The mineralisation remains open in multiple directions, suggesting significant expansion potential
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Cobalt Component: The presence of cobalt adds a critical battery metal component to the discovery
Understanding Copper-Cobalt-Silver Mineralisation
The Mt Oxide Project sits within the Western Fold Belt of the Mount Isa Inlier, a world-class metallogenic province. The host rocks are mid-Proterozoic sedimentary units of the McNamara Group, which host several other significant copper deposits in the region.
Mineralisation is primarily controlled by the north-south oriented Mt Gordon Fault Zone, a major structural corridor extending over 100km. At Aquila, copper mineralisation occurs as disseminated chalcocite and chalcopyrite, commonly associated with siderite and albite veining.
Alteration intensity and brecciation were strongest between 30m and 180m in hole MOX232, indicating sustained system-scale fluid flow. This pattern of mineralisation is consistent with other copper deposits in the Western Fold Belt of the Mount Isa region.
In sediment-hosted copper deposits like Aquila, the mineralisation typically forms when metal-rich fluids move through rock formations and deposit minerals in favourable structural and chemical environments. The presence of faults and breccia zones creates pathways for these mineralising fluids, while certain rock types provide the chemical conditions needed for copper, cobalt, and silver minerals to precipitate.
Next Steps: Accelerating Exploration
With this discovery, True North is moving quickly to expand its exploration at Aquila:
- Extending IP surveys along ~3km of strike to the north and south
- Conducting high-resolution drone magnetic surveys to enhance structural understanding
- Mapping and sampling across prospective anomalies and breccia zones
- Planning an expanded drilling program targeting step-outs along strike and at depth
The company is already processing results from two additional holes (MOX238 and MOX239) which could further expand the known mineralisation at the Aquila Prospect.
Why Investors Should Take Notice
This True North Copper copper discovery demonstrates the company's ability to make significant discoveries within its project portfolio. The company is well-funded to pursue its exploration strategy, with a clear pathway to potentially develop a much larger copper-cobalt-silver inventory at Mt Oxide.
The Aquila discovery could represent just the beginning of a district-scale opportunity. The 4km corridor between Aquila and the existing Vero Resource remains largely untested, suggesting potential for additional discoveries or a much larger connected system.
For investors seeking exposure to copper and battery metals, True North offers a compelling proposition: a junior explorer with existing resources, making new high-grade discoveries, in a tier-1 mining jurisdiction with excellent infrastructure. With copper prices projected to rise due to growing electrification demand and supply constraints, True North is positioning itself as an emerging player in the copper sector.
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