THE DRILL SERGEANT: True North Copper (ASX: TNC) recently completed an advanced grade control drilling program at the company’s copper-gold Wallace North project in Queensland.

True North Copper reported the drilling to have identified high-grade zones of copper and gold mineralisation, exceeding the current updated resource model (Indicated and Inferred of 1.59 million tonnes at 1.29 per cent copper and 0.93 grams per tonne gold).

Highlight results included:

WNR0019
2 metres (1.60m estimated true width [etw]) at 8.24 per cent copper, 13.24 grams per tonne gold from 29m, including 1m (0.8m etw) at 14.05 per cent copper, 25.7g/t gold from 29m;

WNR0088
17m (13.6m etw) at 2.64 per cent copper, 2.7g/t gold from 47m, including 3m (2.4m etw) at 10.31 per cent copper, 13.48g/t gold from 48m; and

WNR0068
6m (4.8m etw) at 5.26 per cent copper, 3.26g/t gold from 30m, including 3m (2.4m etw) at 8.36 per cent copper, 5.69g/t gold from 32m.

True North indicated results are still in the process of being interpreted, however its initial assessment appears to highlight multiple zones of higher grade than predicted.

The results are anticipated to have a positive impact on future resource estimation and open-pit designs.

“Results from the advanced grade control program further confirm our position Wallace North has the potential to deliver significant near-term value to the company, in an early production scenario,” True North Copper managing director Marty Costello said in the company’s ASX announcement.

“These initial results confirm and, in some cases, exceed expected grades from comparisons to the current resource model.

“Not only do they indicate the potential to increase grade within the existing block model but also the potential to increase the overall resource.

“With the return of all assays by the end of November 2023, mine optimisation and metallurgical studies will commence.

“These studies will assess the possibility of producing a copper-gold concentrate and will be finalised Q1 2024.

“Wallace North is on a fully permitted Mining Lease, which allows near term development options to be assessed during the optimisation study phase.

“The Wallace North resource is an important part of our Cloncurry project mining plans, with its near-term value reinforced through recent infill drilling and resource upgrade work completed across the resource.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE