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True North Copper Maps Low-Capital Wynberg Gold-Copper Development Pathways
['Nik Hill']
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True North Copper (ASX: TNC) has outlined three potential development pathways for its Wynberg gold-copper project near Cloncurry in Queensland, with a Scoping Study indicating pre-tax cash flow ranging from $53 million to $87m.
The preliminary assessment centres on shallow open-pit mining and the use of existing regional processing infrastructure to limit upfront development requirements.
A Production Target of 872,000 tonnes at 1.67g/t gold and 0.24% copper contains 53,200 ounces of gold equivalent, comprising 46,700oz gold and 2,100t copper, entirely from Measured and Indicated resources.
True North estimates that $23m to $38m of funding would be required depending on the selected processing route, mining sequence, and commercial terms.
“Wynberg adds another low-capital development opportunity with multiple pathways to unlock value, including standalone development, regional processing and integration with the Cloncurry copper project,” managing director Andrew Mooney said.