Junior explorer True North Copper has identified numerous new drill targets following a recent induced polarisation (IP) survey at its Aquila copper-silver-cobalt discovery. This significant finding is part of the company’s broader Mt Oxide project, located approximately 140 kilometres north of Mt Isa in Queensland. The company has swiftly commenced drilling to explore these targets and expand the mineralised footprint of the area.
The recent infill and extensional IP survey aimed to uncover additional targets at Aquila. Previous results from a reverse circulation drilling program indicated a promising new copper discovery zone. According to management, the latest IP survey has extended the geophysical trend at Aquila from 250 metres to over 1.3 kilometres, aligning with surface mineralisation observed at the site.
The initial findings from the drilling program, which began in May 2024, have already yielded impressive results. Notable highlights include a drill interval of 145 metres with grades of 0.75 per cent copper, 0.12 per cent cobalt, and 2.9 grams per tonne (g/t) silver, starting from a depth of 28 metres. Additionally, a section of this interval returned 53 metres grading 1.18 per cent copper, 0.13 per cent cobalt, and 3.6 g/t silver from 86 metres. Other significant results include 30 metres at 2.45 per cent copper from a shallow intercept of 20 metres, with a standout 10 metres grading 5.31 per cent copper from 31 metres depth.
The company believes that a district-scale system is emerging at Mt Oxide, with three newly defined trends at its Aquila, Apollo, and Acanthis deposits. Each of these trends exhibits geophysical anomalies that are comparable to or stronger than those seen at the Aquila discovery. Recent drilling efforts have focused on the southern end of the Apollo trend, where five holes were drilled over a total of 1,350 metres. Assay results from this phase are expected in November.
True North Copper’s drill rig has recently returned to Mt Oxide after conducting work at its Wallace North and Salebury prospects, which are part of the Cloncurry project, located about 120 kilometres east of Mt Isa. Assay results from this work are also pending.
Management has engaged Australian Geophysical Services to complete a 5.6-line-kilometre IP survey at Aquila, building upon a Queensland Government-funded 2024 IP survey across regional Mt Oxide targets. This survey has identified Aquila as a high-priority target for chargeability and conductivity. The latest survey aims to locate potential mineralisation beneath leached gossan zones while enhancing the understanding of the regional geology and structural framework.
Aquila is situated close to the company’s Vero copper-silver-cobalt resource. The Vero deposit contains approximately 15.03 million tonnes grading 1.46 per cent copper, equating to around 220,000 tonnes of copper and over 5 million ounces of silver at a grade of 10.59 g/t. Additionally, there is a cobalt resource of 9.15 million tonnes at a grade of 0.23 per cent.
The Mt Oxide project presents numerous opportunities for exploration, as other prospects outside Aquila and the intriguing Mt Gordon target have not yet undergone modern drilling techniques. The northern section of the Aquila trend’s geophysical anomalies is connected to the historical Mt Gordon mine, which operated during the 1950s and 1960s. Historical data indicates that the mine produced 824 tonnes of ore, yielding 90.4 tonnes of copper, representing an extraordinary grade of approximately 11 per cent.
Coincident anomalies near the former mine are associated with a 110-metre-wide area of silica-hematite breccia, where channel sampling has returned results of up to 3.6 metres at 0.49 per cent copper. The Aquila trend remains open to the north of the Mt Gordon mine, with mapped breccia units extending for at least 520 metres. Past drilling by former ASX-listed Anaconda Nickel at the Mt Gordon mine site returned 9.4 metres at 0.76 per cent copper from 301.1 metres, including a section of 1.7 metres grading 2.85 per cent from 305.5 metres.
Looking ahead, True North plans to devise a series of optimally positioned drill holes to test the coincident geophysical and geochemical targets. The objective is to validate the geophysical model and explore for extensions of the high-grade copper discovered at Aquila, both along strike and at depth. The company also intends to perform step-out drilling at Aquila, targeting areas north and south of the discovery zone.
With the Mt Oxide project generating a series of targets to explore, alongside its promising Cloncurry project, which is reported to contain over 101,000 tonnes of copper and 76,000 ounces of gold, True North Copper is a junior exploration company to watch in the mining sector.
