Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

True North Copper Commences Mining at Wallace North, QLD

by admin July 1, 2024
July 1, 2024
True North Copper Commences Mining at Wallace North, QLD

True North Copper Limited (ASX: TNC) (TNC or the Company) is pleased to announce mining operations at its Wallace North deposit in northern Queensland have commenced, with clearing activities and blast hole drilling underway.

HIGHLIGHTS

  • Mining activities at True North Copper’s Wallace North deposit, part of its Cloncurry Copper Project (CCP) in Queensland, have commenced with clearing and blast hole drilling underway
  • TNC is on track to become Australia’s next copper producer and critical metals supplier via its restart of CCP
  • CCP is estimated to generate free cash flow of ~$200 million at current copper spot prices over its initial 4.6-year mine life1
  • Recent executive appointments have bolstered TNC’s executive team ahead of operations restart.

Wallace North is part of True North Copper’s Cloncurry Copper Project (CCP) and one of four open-pit deposits making up CCP. Wallace North has an Ore Reserve totalling 0.7Mt (Probable) grading 1.01% Cu and 0.46g/t Au for 6.8kt Cu and 10.0koz Au3.

TNC will operate dry hire equipment at Wallace North, which its own personnel will operate, with most mining equipment already on site. Dewatering of the pit area is well advanced, with all blast hole drilling expected to be in dry holes.

A recruitment process for the operations team is close to finalisation, and a supportive technical team is in place ready for mining to start.

True North Copper’s newly appointed Managing Director Bevan Jones said: “We have commenced mining operations at Wallace North, which will allow our CCP to restart copper production. This has been our major goal since listing on the ASX. I thank our team for their efforts in moving towards this goal to allow TNC to become Australia’s next copper and critical metals producer.

“CCP is estimated to deliver free cash flow of about $200 million at current prices over its 4.6-year initial mine life, based on existing JORC Reserves. Cash flow from mining will be used to explore further opportunities to build this inventory.”

Mining ramp-up will initially build ore stockpiles, with road haulage expected to start within a few weeks of startup. Oxide ore will be transported by road train to TNC’s Cloncurry Operations Hub’s (COH) heap leach. Sulphide ore will be transported to a nearby concentrator for toll treatment under TNC’s toll-milling agreement with Glencore International AG.

The COH is 2km from the town of Cloncurry in northern Queensland and will service all four of TNC’s deposits with essential infrastructure, technical systems and support. An active oxide heap leach and solvent extraction (SX) processing plant, mine buildings, site administration facilities, workshops, open pit mine facilities, onsite explosive magazines, site storage, water management systems and existing site power supply are located at the COH.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Investor Webinar – 3pm AEST Tuesday 2 July
next post
Jill Biden’s ex-husband calls her out for defending ‘struggling’ Joe Biden, ‘keeping him in the race’

Related Posts

Halcones Precious Metals Announces Surface Outcrop Chip Channel...

February 8, 2025

Top 10 Gold-mining Companies (Updated 2024)

June 27, 2024

Nuclear Fuels Mourns the Passing of Independent Director...

March 20, 2025

Deadly Illegal Gold Mine Collapse in Mali Kills...

February 18, 2025

Ghana Expels Foreigners from Local Gold Market in...

April 17, 2025

Crypto Market Recap: Bitcoin Price Nears All-time High,...

June 12, 2025

Heliostar Metals Adds to Board of Directors

December 7, 2024

Significant Expansion of Stated Resources at Lake Maitland...

September 24, 2024

Adrian Day: “Extremely Rare” Gold Stock Opportunity Won’t...

July 19, 2024

Radiopharm Theranostics Doses First Patient with 18F-RAD101 in...

April 29, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Find Highest Probability Counter-Trend Setups

      June 26, 2025
    • Bernie Moreno wants Senate to call for Nobel Peace Prize to go to Trump

      June 26, 2025
    • Iran, Israel and US agree that Islamic Republic nuclear sites were ‘badly damaged’ despite leaked intel report

      June 26, 2025
    • UN’s atomic agency’s Iran policy gets mixed reviews from experts after US-Israel ‘obliterate’ nuclear sites

      June 26, 2025
    • Democratic congressman hurls profanity-laced message at Stephen Miller

      June 26, 2025

    Categories

    • Business (997)
    • Investing (2,471)
    • Politics (3,067)
    • Stocks (1,095)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved