Your Own Liberty - Investing and Stock News
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Your Own Liberty - Investing and Stock News
No Result
View All Result
Home Economy

Geophysical Survey Highlights Growth Opportunities at Mt Oxide Project

by
August 22, 2024
in Economy
0
Geophysical Survey Highlights Growth Opportunities at Mt Oxide Project

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to announce results from the ongoing geophysical survey at Vero and Camp Gossans, part of TNC’s Mt Oxide Project, 140km north of Mt Isa in Queensland. The survey has been supported by a $300,000 Queensland Government Collaborate Exploration Initiative (CEI) Grant.

HIGHLIGHTS

Two MIMDAS Induced Polarisation (IP) and Magnetotelluric (MT) lines successfully completed at Vero and at Camp Gossans which has highlighted a number of geophysical anomalies that are unexplored.At Vero the results demonstrate excellent correlation between the resource mineralisation and MIMDAS chargeability highs, providing confidence in the technique to identify targets in the district.Two chargeability high responses have been identified at Camp Gossans less than 100m beneath the outcropping geochemically anomalous Alpha and Beta Gossan targets.A third, undrilled chargeability anomaly was identified 250m northwest of Camp Gossans beneath a previously unmapped 400m long, northeast striking, hematite altered fault breccia at a new target called Black Marlin.A further 275m wide and up to 350m deep chargeability anomaly was identified 1km east of Vero.The geophysical survey continues and is currently focused on testing several highly promising copper targets north along strike of Vero at Ivena North, Aquila and Mt Gordon2.The new geophysics will be integrated with ongoing mapping and surface geochemical sampling campaigns to identify and prioritise future drill targets.

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.

Click here for the full ASX Release

This post appeared first on investingnews.com
Previous Post

Trump-led attack on Walz’s military record includes vets with their own false claims

Next Post

Pro-Palestinian delegates will not get speaking slot at convention

Next Post
Pro-Palestinian delegates will not get speaking slot at convention

Pro-Palestinian delegates will not get speaking slot at convention

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Dollar General is shaking off tariff fears and winning over higher-income consumers

    Dollar General is shaking off tariff fears and winning over higher-income consumers

    June 7, 2025

    TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout

    June 7, 2025
    Thai hostage recovered from southern Gaza in military operation

    Thai hostage recovered from southern Gaza in military operation

    June 7, 2025

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • Dollar General is shaking off tariff fears and winning over higher-income consumers
    • TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 yourownliberty.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 yourownliberty.com | All Rights Reserved