True North Copper Wins State Support to Investigate Historic Mine Waste in Queensland
True North Copper has secured a $400,000 grant from the Queensland Government under the Collaborative Development Program (CDP) to probe old mine waste at its Mt Oxide copper project. This funding aims to assess whether historical waste materials can yield recoverable copper and other metals, while also focusing on land restoration and environmental risk reduction.
Unlocking Value from Past Mining Operations
The company believes that the bonanza-grade ore historically extracted from the Mt Oxide mine indicates significant untapped potential in the leftover waste and stockpiles. After previous miners abandoned the site, they left behind stockpiles, leach heaps, and overburden dumps, which are now managed by Queensland's Abandoned Mine Lands Program. Rather than viewing these remnants as liabilities, True North sees them as a potential bonus to complement its existing resource base.
In partnership with asset revitalisation specialist Regeneration Enterprises, the duo will conduct targeted drill sampling, laboratory assays, mineralogical analysis, and metallurgical testwork. This effort is designed to determine if the old waste still contains payable metals like copper, cobalt, or silver.
Strategic Importance and Project Details
Andrew Mooney, managing director of True North Copper, stated, "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."
Since acquiring Mt Oxide in 2023, True North has focused on building a district-scale copper play. The project is strategically located 140 kilometres north of Glencore's Mt Isa copper concentrator and smelter, offering enviable infrastructure leverage. Key resources include:
- The underground Vero deposit, with 15.03 million tonnes grading 1.46% copper, 10.59 g/t silver, and 0.23% cobalt, totaling 220,000 tonnes of copper, 5 million ounces of silver, and 20,000 tonnes of cobalt.
- Significant potential for resource expansion along the Mt Gordon Fault Zone.
- The Aquila prospect, discovered in 2025, featuring high-grade mineralisation, including a 30-metre hit grading 2.45% copper and a 59-metre section at 1.77% copper with cobalt and silver.
Future Prospects and Environmental Focus
With the grant paperwork nearing completion, True North and Regeneration are set to begin the waste assessment immediately, alongside ongoing exploration efforts. If successful, this initiative could transform old mine waste into a fresh source of copper, providing additional upside for the project and reinforcing Mt Oxide's status as a growing copper hub in Queensland.
This move not only aims to extract economic value but also aligns with environmental goals by reducing risks associated with abandoned mine sites, showcasing a modern approach to mining that balances resource development with sustainability.
