True North Copper has begun transporting the first oxide ore from the Wallace North deposit, part of its Cloncurry Copper Project (CCP), to the Great Australia Mine (GAM) crushing facility.
Irrigation of the ore is expected to commence in October 2024 and contribute to improved copper production from the solvent extraction (SX) plant. This will be the first ore mined by True North Copper to be added to the heap leach since commissioning the SX plant in 2023.
Additionally, True North Copper said that mining activities at Wallace North continue to ramp up successfully in line with the current CCP mine plan. This comes after the company announced it was commencing mining activities at Wallace North in July 2024. Wallace North is one of four open-pit deposits making up CCP and has an ore reserve totalling 0.7Mt (probable) grading 1.01 per cent copper and 0.46g/t gold for 6.8kt copper and 10.0koz gold.
True North Copper has binding offtake and toll milling agreements with global commodity trader Glencore International AG for 100 per cent of copper concentrate produced at CCP and toll milling of up to 1Mt of ore per year. Under the toll milling agreement, sulphide ore will be transported to a third-party concentrator for toll treatment.
True North Copper’s Managing Director, Bevan Jones, said the team at Wallace North has continued to advance mining activities on schedule with the current CCP mine plan.
“TNC’s progress towards becoming Australia’s next copper producer has taken significant steps forward since our previous Wallace North update, with 6,000t of oxide ore having now been mined and transportation of this ore to the GAM crusher underway.”
Mr Jones said True North Copper expects to commence stacking of this ore on the leach pad in October, which is the next milestone the company is targeting.
“This is the first new copper ore mined and added to the heaps by TNC.”
The company is also focused on growing its workforce to support its objectives at CCP including the recruitment of a substantial number of personnel by mid-October for the GAM and Wallace North.
“This progress on both fronts strengthens TNC’s position not only as an emerging copper and critical metals company, but also as a North Queensland-based company focused on providing opportunities within the communities in which it operates. As mining activities progress further at CCP, we look forward to continuing to provide regular updates.”
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