True North Copper Limited (ASX: TNC) has identified high-grade zones of copper and gold mineralization at the company’s advanced grade control drilling programme at its copper-gold Wallace North project. The results have exceeded the current updated resource model and are anticipated to have a positive impact on future resource estimates and open-pit designs.
Managing director, Marty Costello, commented, “Results from the advanced grade control programme further confirm our position Wallace North has the potential to deliver significant near-term value to the company, in an early production scenario. 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.”
Highlights include:
- WNR0088:
- 17.0m (13.60m*) @2.64% Cu, 2.70g/t Au from 47.00m, inc. 3.0m (2.40m*) @10.31% Cu, 13.48g/t Au from 48.00m
- WNR0118:
- 14.0m (11.20m*) @3.57% Cu, 1.41g/t Au from 46.00m
- WNR0121:
- 12.0m (9.60m*) @1.99% Cu, 0.42g/t Au from 16.00m, inc. 2.0m (1.60m*) @9.17% Cu, 1.98g/t Au from 20.00m
Completed in September, TNC’s Wallace North advanced drilling programme included 142 reverse circulation (RC) drillholes across 7,594m. The Wallace North Resource (indicated and inferred of 1.59Mt @1.29% Cu and 0.93g/t Au) is on a fully permitted mining lease and is part of TNC’s Cloncurry Project and it is a target for near-term production.
Assays are pending for intercepts that remain open up or downhole and for those requiring QAQC checks. The company expects the final assay results of the programme to feed into optimization studies and early mine planning.
Mr. Costello continued, “With the return of all assays by the end of November 2023, mine optimization and metallurgical studies will commence. These studies will assess the possibility of producing a copper-gold concentrate and will be finalized Q1 2024.”
Wallace North is on a fully permitted mining lease, which allows near term development options to be assessed during the optimization 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 find out more, please visit www.truenorthcopper.com.au
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