HIGHLIGHTS
COMMENT
True North Copper’s Managing Director, Bevan Jones said:
Our exploration efforts at Mt Oxide are yielding great results. The recent survey, supported by the CEI grant, has yielded anomalies that closely match our existing Vero copper, silver, and cobalt resources, providing us confidence to use this method to identify new targets across the area.
Exciting new drilling targets have been identified at Camp Gossans and Vero and we have also found new potential mineralised structures like Black Marlin. The deep seeking MT survey at Vero has found an anomaly that suggests the main mineralised zone could extend more than 1km deeper than our current drilling. With multiple high quality drill targets coming together, our Mt Oxide Project is conceptually building into a potentially significant copper mineralised district of which Vero is just one deposit.
Mt Oxide MIMDAS Survey Results Summary
In late July 2024, TNC announced it had commenced its leading edge MIMDAS Induced Polarisation (IP), Resistivity and Magnetotellurics (MT) geophysical survey (MIMDAS survey) at Mt Oxide3. Partial funding for the survey was granted to TNC in Round 8 of the Collaborative Exploration Initiative (CEI), with TNC receiving $300k of funding to undertake the survey (Figure 7). The MIMDAS survey aims to test for sulphide mineralisation developed below numerous recently mapped leached gossan zones and build an improved understanding of the regional scale structural and geological architecture.
TNC is pleased to announce the results from the first two completed lines. One line for 2.5 line-km over the Cu-Ag-Co Vero Resource (Vero) (15.03Mt at 1.46% Cu & 10.59g/t Ag for a contained 220kt Cu & 5.13Moz Ag4 Indicated and Inferred resource and a separate 9.15 Mt at 0.23% Co total combined Measured, Indicated & Inferred resource5) and one line for 1.9 line-km over the highly prospective Camp Gossans prospect (Figure 2).
At Vero, there is excellent correlation between the Cu-Ag-Co resource mineralisation and MIMDAS chargeability, providing confidence to use this technique to identify targets throughout the district (Figure 2 & Figure 3). In addition to the anomalies associated with the resource, the survey has identified a 275m wide and up to 350m deep 25mV/V chargeability anomaly located 1km east of Vero. The chargeability anomaly is associated with mapped structures and potential splays of the regionally significant crustal scale Mt Gordon Fault.
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