Major Copper-Gold Discovery at Wallace North
The company's recent drilling at Wallace North has intercepted high-grade copper-gold mineralisation well beyond the current resource boundary, signaling a potentially much larger system. The standout result was from hole WRC255, which delivered:
- 19m @ 2.18% Cu, 1.76 g/t Au (3.97% CuEq) from 106m, including 9m @ 4.33% Cu, 3.64 g/t Au (8.01% CuEq)
This intercept, located 60m along strike from the existing resource, represents the best intersection ever drilled at Wallace North, returning approximately 59 copper-equivalent grade-meters—nearly 25 CuEq%m larger than the previous best result.
Multiple additional intercepts from this hole confirm the potential for a much larger system, including:
- 17m @ 1.08% Cu, 0.24 g/t Au from 76m (including 2m @ 6.38% Cu)
- 11m @ 1.82% Cu, 0.51 g/t Au from 191m (including 4m @ 4.48% Cu, 1.09 g/t Au)
- 3m @ 0.69% Cu, 4.95 g/t Au from 135m (including 1m @ 1.01% Cu, 14.54 g/t Au)
Mt Oxide Success Confirms Large-Scale System
At the Mt Oxide project, final results from the Phase 1 drilling program have validated the Aquila copper-cobalt-silver discovery as a large-scale, depth-persistent system extending to over 420m depth and up to 100m wide.
Recent results expanding the footprint include:
- 10m @ 0.10% Cu, 0.3 g/t Ag from 73m (MOX238)
- 10m @ 0.14% Cu, 0.2 g/t Ag from 411m (MOX239)
These follow previously reported high-grade intercepts including 145m @ 0.75% Cu, 0.12% Co, 2.9 g/t Ag from 28m and 30m @ 2.45% Cu from 20m.
The company has also confirmed extensions to the Vero Resource, with hole MOX241 intersecting 68m @ 0.47% Cu, 0.12% Co, 4.4 g/t Ag from 67m.
Understanding the Exploration Approach
True North's exploration strategy uses a multi-disciplinary approach, combining geophysical surveys, structural mapping, and strategic drilling to identify high-priority targets.
At Wallace North, a Fixed Loop Electromagnetic (FLEM) survey identified three laterally continuous conductive trends spanning over 8km of strike. This geophysical signature mirrors regional copper-gold systems where shear-hosted, pyrrhotite-dominated sulphide feeder zones generate strong electromagnetic responses and host high-grade Cu-Au mineralisation.
Similarly, at Mt Oxide, the company has utilized Induced Polarization (IP) surveys to identify coincident chargeability and conductivity anomalies associated with the Aquila discovery.
"We're entering a new and exciting phase of growth at True North. The Cloncurry and Mt Oxide discoveries reflect our strategy at work – driving real value for shareholders." – Bevan Jones, Managing Director
Strategic Growth Path
The company's two-track strategy balances:
- Near-term resource growth at the Cloncurry Copper Project, with Wallace North showing potential to become a significant production hub
- Transformational exploration upside at Mt Oxide, where the Aquila discovery represents the first major greenfield exploration success in over 44 years
Next Steps
True North has outlined clear next steps for both projects:
At Wallace North:
- A systematic drill program to explore all three conductive trends
- Downhole Electromagnetic (DHEM) surveys to identify deeper targets
- Review of mineral resource estimates and mining studies for both open-pit and underground options
At Mt Oxide:
- Phase 2 drilling now underway at Aquila, focusing on strike extensions
- Testing of high-priority targets identified by the extended IP survey
- Review of secondary targets including Rhea, Black Marlin, and Camp Gossans
Investment Perspective: Why This Matters
These results are significant for investors for several reasons:
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Resource Growth Potential: The high-grade intercepts at Wallace North suggest the current resource could be substantially expanded, potentially enhancing the economics of the Cloncurry Copper Project.
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District-Scale Discovery: The Aquila discovery at Mt Oxide represents a potentially transformative find in a region that hasn't seen significant greenfield exploration success in decades.
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Strategic Portfolio: True North's balanced approach of advancing near-term production assets while pursuing major exploration upside provides investors with exposure to both immediate development catalysts and long-term growth.
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Critical Minerals Focus: With copper, gold, and cobalt as primary targets, the company is well-positioned to benefit from increasing demand for critical minerals essential for the energy transition.
With Phase 2 drilling already underway at Aquila and plans for systematic exploration at Wallace North, investors can expect a steady flow of news as True North copper drilling success continues to execute its growth strategy.
Ready to Join the True North Copper Opportunity?
Discover how True North Copper's exceptional copper-gold intercepts at Wallace North and the expanding Aquila copper-cobalt-silver system could deliver significant shareholder value. For comprehensive investor information about these promising discoveries and the company's strategic growth path, visit the True North Copper website today.
