Source : THE AGE NEWS
In order to investigate old mine waste at its Mt. Oxide copper project in Queensland, True North Copper has received a$ 400, 000 government grant under the Collaborative Development Program ( CDP ).
The mine’s traditional bonanza-grade metal, according to the firm, highlights the potential for substantial undeveloped value in Mt Oxide’s misuse and stockpiled material.
The old settings left behind reserves, leech heaps, and terrify dumps that are now managed by Queensland’s Forgotten Mine Lands Program after leaving the me.
Instead of treating those vestiges as a duty, True North is now considering using them as a potential benefit to complement its presently substantial resource at the website.
The CDP grant’s prize represents” a significant milestone for Mt. Oxide.”
Andrew Mooney, managing director of Real North Copper,
The pair will conduct an investigation in collaboration with property revitalization specialist Regeneration Enterprises to find solutions to restoring Mt. Oxide’s landmass and reducing climate risk.
In order to determine whether any of the ancient waste also contains usable copper or other paid metals, the CDP-funded program may involve targeted drill sampling, laboratory tests, mineralogical analysis, and mechanical testwork.
Andrew Mooney, managing director of Real North Copper,: ‘The award of this CDP grant is an important milestone for Mt Oxide and reinforces the quality of the opportunity we see across the broader system. It provides non-dilutive funding to evaluate whether legacy materials can represent an additional source of value alongside our resource growth strategy.’
Since purchasing Mt. Oxide in 2023, the business has concentrated on discovering ideas to create a district-scale metal enjoy. The job has remarkable infrastructure leverage, 140 kilometers northeast of Glencore’s Mt Isa metal concentrator and furnace.
Its underground Vero deposit resource, which is 15.03 million tonnes grading 1.46 per cent copper, has a healthy 10.59 grams per tonne ( g/t ) of silver kicker and a 9.15 million-tonne cobalt inventory at 0.23 per cent cobalt, adding up to 220, 000 tonnes of copper, five million ounces of silver, and 20, 000 tonnes of cobalt.
True North believes that the source down drop and along strike of the broad and controlling Mt. Gordon Fault Zone have a significant potential.
A minute prospect, Aquila, was found in 2025, only 5 kilometers from the Mt. Oxide trap. Early digging in the late last year revealed important, high-grade mineralization, including a 30-meter struck that graded copper to 2.45 %.
Another notable hole was found at 59m at 1.77 per cent copper, 0.04 per cent cobalt, and 5.2 % t gold, which was 7m at a whopping 8 per cent brass.
The organization believes Aquila has the ability to house a major, high-quality copper-cobalt-silver system, with a strike length of more than 900m and an available in all directions.
True North and Regeneration are on the verge of being integrated right into the spare analysis as part of the company’s wider exploration drive as the grant paperwork comes close to being completed.
Mt. Oxide may soon become serving up clean copper benefit from today’s leftovers, giving punters yet another reason to keep a close attention on this expanding Queensland metal hub. Even if the ancient workings coughing up even a portion of their former glory.
Is your ASX-listed business engaged in any exciting work? Call: mattbirney@bullsnbears.com. . aau
