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Doug Bright
True North Copper has boosted its exploration firepower in northwest Queensland, appointing veteran Mt Isa region geologist Matt Porter as exploration manager, while drilling continues at its Aquila copper discovery.
Porter brings more than 20 years of exploration experience to True North’s projects, much of it spent in the Mt Isa Inlier, including earlier work with Mount Isa Mines and Fetch Metals, along with senior roles at Sandfire Resources.
His appointment lands with perfect timing as True North pushes ahead with a new round of drilling at its Mt Oxide project, where recent geophysics has almost doubled the interpreted Aquila target from 1km of strike to 1.8km. The company says the geophysical responses have lined up well with last year’s high-grade drilling, giving it greater confidence in the emerging copper system and refining targets for the current campaign.
The recently discovered Aquila deposit sits 10km northeast along strike from True North’s existing Vero resource, which contains an impressive 15.03 million tonnes at 1.46 per cent copper and 10.59 grams per tonne silver. The company says the Aquila discovery has reshaped the Mt Oxide growth story and could help build a bigger copper inventory around Vero.
‘Aquila is one of the most exciting new greenfields copper discoveries in the Mt Isa region in more than 20 years.’
True North Copper exploration manager Matt Porter
Previous drilling at Aquila has delivered broad, shallow hits, including 145m at 0.75 per cent copper, 0.12 per cent cobalt and 2.9g/t silver, featuring a richer 53-metre interval assaying 1.18 per cent copper. Another hole intercepted 7m running at a hefty 7.9 per cent copper within a 59-metre strike grading 1.77 per cent copper.
True North’s current drilling program is designed to confirm Aquila’s interpreted geophysical extensions. Testing the system along strike and at depth aims to improve the company’s understanding of the geometry and controls on mineralisation. Assays from the program are expected in late July.
True North is also working on other nearby targets, including Aquila North, Apollo and Acanthis, as it looks to build a bigger mineralised system in the district.
True North Copper managing director Andrew Mooney said: “Matt joins at an exciting time as we continue building what we believe is a significant new copper mineral system capable of underpinning a staged and significant development at the Mt Oxide project.”
The latest exploration push follows a busy fortnight for the company. Last week, True North reported a new high-grade copper-gold structure at Wallace North, within its Cloncurry copper project (CCP) to the southeast, where diamond drilling returned 24.5m at 2.17 per cent copper and 2.01g/t gold for 4.21 per cent copper equivalent, including 3.3m at 10.11 per cent copper and a useful 7.93g/t gold.
That result builds on the company’s ongoing Cloncurry pre-feasibility study work, which is expected to be delivered in the December quarter of this year. That assessment is examining the integration of its recently acquired Mongoose deposit with the adjoining Taipan open pit, while also assessing resource growth opportunities at Wallace North and the gold-copper potential of its 56,000-ounce Wynberg gold deposit.
With the company’s new exploration boss stepping into a live drilling program, True North aims to keep the momentum running across both sides of its Queensland copper book, spanning near-term development work at Cloncurry and a potentially much bigger discovery prize at Mt Oxide.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
