True North Copper awarded Qld grant to assess Mt Oxide legacy materials
ASX-listed True North Copper has been awarded A$400000 under the Queensland government’s Collaborative Development Programme (CDP) to assess legacy mine waste streams at its Mt Oxide project.
The CDP-funded programme will evaluate the potential to re-commercialise historic waste materials from previous operations centred on the Mt Oxide pit, with the aim of generating responsible mineral products while supporting improved environmental and rehabilitation outcomes.
TNC has executed a letter of intent with Regeneration Enterprises to collaborate on delivery of the programme and, subject to results, assess potential longer-term commercial opportunities.
The programme will include drill sampling, assay work, metallurgical testing and a technical pathway assessment of selected legacy materials. Historical high production grades and existing stockpiles are seen as highlighting potential residual value in previously mined material.
TNC noted that the environmental monitoring and remediation of the historic workings were currently managed by the Queensland government’s Abandoned Mines Department. The initiative does not transfer rehabilitation responsibility to TNC and does not alter existing regulatory arrangements.
MD Andrew Mooney said the grant provided nondilutive funding to assess incremental value alongside the company’s core growth plans.
“The award of this CDP grant is an important milestone for Mt Oxide and reinforces the quality of the opportunity we see across the broader system. It provides non-dilutive funding to evaluate whether legacy materials can represent an additional source of value alongside our resource growth strategy.
“Our focus remains firmly on growing Mt Oxide through exploration and development. This programme runs in parallel, assessing whether incremental revenue and rehabilitation benefits can be unlocked in a disciplined and capital-efficient manner,” he said.
