Brought to you by Bulls N’ Bears
Michael Busbridge
True North Copper has ramped up extension drilling at its Cloncurry copper project in Queensland to boost resource confidence ahead of a pre-feasibility study, while refining mine design and processing plans.
The project, which sits just south of its namesake township, comprises several deposits, including the underexplored Great Australia Mine, alongside its Taipan and Orphan Shear prospects.
Drilling is now underway, with the program set to punch out about 2700 metres across 14 combined diamond and reverse circulation (RC) holes.
Six diamond holes will focus on metallurgical and geotechnical studies, while a further six RC holes will probe mineralisation extensions across all three deposits and test a suite of near-mine priority targets.
Following last year’s drilling success, Great Australia’s resource now stands at 5.29 million tonnes grading 0.86 per cent copper, 0.07 grams per tonne (g/t) gold and 0.03 per cent cobalt.
Its Taipan deposit tips in with a 5.21-million-tonne resource, grading 0.57 per cent copper, 0.13g/t gold and 0.02 per cent cobalt. Confidence has recently lifted, with indicated material now making up 95 per cent of the total resource. Meanwhile, the Orphan Shear prospect delivers an additional 1 million tonnes at 0.56 per cent copper.
Together, the three deposits total 11.53 million tonnes grading 0.71 per cent copper and 0.09g/t for 80,000 tonnes of copper, 34,000 ounces of gold and 2000 tonnes of cobalt.
True North Copper general manager of operations Matt Varvari said: “The commencement of diamond drilling at Great Australia represents an important step in advancing the Cloncurry Copper Project toward development.
Elsewhere, the company’s Wallace North deposit, about 35 kilometres southeast of Great Australia, is set for a new round of drilling once the rigs finish at Cloncurry.
Although mining at Wallace North wrapped up in 2024, the open pit still hosts a solid 2 million tonnes grading 1.28 per cent copper and 0.77g/t gold and exploration late last year gave the geos something to smile about. Best hits included 19 metres grading a hefty 2.18 per cent copper and 1.76g/t gold from 106 metres, featuring an impressive 9 metres running 4.33 per cent copper and 3.64 g/t gold from 108 metres.
This intercept, located 60m along strike from the existing resource, represents the best intersection ever drilled at Wallace North.
RC drilling will also test priority targets at True North’s Whip and Coppermine Creek prospects, sitting 500 metres along strike southwest of Great Australia Mine. Whip has an intense induced polarisation (IP) anomaly, interpreted as hosting mineralisation.
A previous single drill hole intersected 6m grading 0.31 per cent copper from 142m downhole in a non-optimised position near the core of the IP anomaly. There was no follow-up work. Drilling in 2026 will test the downward continuity of the anomaly.
Coppermine Creek has another IP anomaly, potentially a deep extension of the Great Australia Mine. Previous drilling near the edge of the IP anomaly intersected a tantalising 12 metres running 0.64 per cent copper from 124m. The anomaly also straddles the Coppermine Creek fault, a potential feeder zone to mineralisation at the Great Australia Mine.
IP geophysics has been a very useful prospecting tool in the Cloncurry region. Copper resources at Great Australia and Taipan were both identified using IP, as they contain sufficient copper and iron sulphide to generate an IP response. The targets at Whip and Coppermine Creek may add to the list of copper discoveries using IP.
True North is gearing up for a busy 2026, with fresh green fields exploration programs testing new drill targets at Wallace North, Whip and Coppermine Creek. Brownfields targets to increase the resource base at Great Australia. The company believes it can deliver the next big Queensland copper story as it works towards project development.
With copper prices strengthening and the metal firmly embedded on critical mineral lists, the timing appears increasingly favourable for True North’s expanding Queensland footprint.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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