HIGHLIGHTS
The rock chip sampling program has successfully identified new broad zones of strongly anomalous copper and pathfinder elements. The copper grades and pathfinder anomalism returned in the samples are at levels consistent with other outcropping leached gossans associated with historic drill discoveries in the region.
The Ivena North and Aquila prospects are located along strike northwest of the high-grade Vero Cu-Ag-Co resource (Vero). Both prospects are high priority exploration targets for TNC, with a MIMDAS Induced Polarisation (IP) and Magnetotellurics (MT) geophysical survey continuing at Mt Oxide to test for geophysical anomalies coincident with outcropping geochemically anomalous gossans1, 3.
COMMENT
True North Copper’s Managing Director, Bevan Jones said:
“Our exploration team has been working hard to systematically map and sample the +10km Dorman fault trend at Mt Oxide. Multiple gossans have been identified, and rock chip results from the gossans are revealing large areas of wider and stronger mineralisation on which to focus our future exploration work, including the ongoing MIMDAS geophysical survey.
We are also remobilising the on-ground team to systematically collect additional rock chip samples over the newly discovered Black Marlin and Rhea structures. Further geophysical results are filtering through, and updates will be released soon. We are potentially building a significant district at Mt Oxide with multiple high priority targets which have never been drilled. Our next steps include prioritisation of these targets, designing and planning upcoming drill programs, and securing the necessary permits for on-ground access.”
Summary of Results
During Q4 CY23, TNC’s Discovery Team initiated a prospectivity analysis of the Dorman Fault Mineral System, host to the Vero Cu-Ag-Co Resource (Vero) (15.03Mt @ 1.46% Cu and 10.59g/t Ag M, I & I, refer Table 1)4. Geological and structural mapping delineated a +10km highly prospective corridor of intermittently outcropping gossanous and silica breccias with no drilling, surface sampling or effective geophysics. Since completion of this work, TNC has collected 388 rock chip samples, including 243.5m of rock chip channel samples at the Ivena North and Aquila Prospects where TNC is currently acquiring MIMDAS IP and MT as part of its Queensland Government Collaborative Exploration Initiative (CEI) grant3.
Analysis of the assay results has highlighted eight high priority geochemically anomalous zones within the larger, structurally complex footprint at both prospects with two of these zones remaining open to the north. These anomalies have similar pathfinder geochemical signatures and are within the order of magnitude of the results from Camp Gossans4 south of Vero, which are considered analogous to the leached gossan outcrops at the Esperanza South deposit4.
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