True North Copper Lifts Wynberg Resource to 61koz Gold Plus 3kt Copper Inventory
True North Copper lifts Wynberg to 61 koz gold, 3 kt copper resource
True North Copper has released an updated Mineral Resource Estimate for its Wynberg Gold-Copper Project, delivering 1.0 Mt @ 1.86 g/t Au and 0.25% Cu for 61 koz Au and 3 kt Cu. The update strengthens the Cloncurry Copper Project by adding a high-value gold-copper resource approximately 25 km east of Cloncurry within a granted Mining Lease with key project approvals in place, near existing infrastructure and regional processing facilities.
The resource sits on granted tenure with established infrastructure access, positioning it as a low-risk, near-term development opportunity that also brings copper optionality to the broader project portfolio.
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What the updated resource delivers
The updated MRE incorporates additional drilling—including grade control work—and refined geological modelling, increasing confidence in the deposit. While gold ounces increased by approximately 5,000 oz (56.1 koz → 61 koz), the story behind the numbers matters. Copper and silver are reported for the first time, adding a new dimension to the project. The update also employed a lower cut-off of 0.4 g/t Au (previously 0.75 g/t), which brought more tonnes into the resource but reduced the average grade from 2.7 g/t to 1.86 g/t Au. The resource is now constrained within a conceptual open-pit shell, providing a more robust representation of material with reasonable prospects for potential extraction.
The shift in modelling approach reflects:
- More tonnes captured at a lower cut-off
- Lower average gold grade due to the expanded envelope
- Introduction of copper and silver inventory
The resource classification split is:
- Measured: 416 kt @ 2.12 g/t Au
- Indicated: 568 kt @ 1.69 g/t Au
- Inferred: 34 kt @ 1.42 g/t Au
| Resource Category | 2022 Tonnes (kt) | 2022 Au (g/t) | 2022 Au (koz) | 2026 Tonnes (kt) | 2026 Au (g/t) | 2026 Cu (%) | 2026 Au (koz) | 2026 Cu (kt) |
|---|---|---|---|---|---|---|---|---|
| Measured | 278 | 2.7 | 24.0 | 416 | 2.12 | 0.41 | 28 | 2 |
| Indicated | 323 | 2.8 | 29.3 | 568 | 1.69 | 0.14 | 31 | 1 |
| Inferred | 39 | 2.2 | 2.7 | 34 | 1.42 | 0.09 | 2 | 0 |
| Total | 639 | 2.7 | 56.1 | 1,019 | 1.86 | 0.25 | 61 | 3 |
How Wynberg fits the broader Cloncurry Copper Project
The total CCP resource base now stands at 17.75 Mt containing 128 kt Cu and 152 koz Au. Wynberg contributes both additional gold ounces and copper inventory, improving resource diversification and enhancing development optionality. The updated resource base provides a larger foundation from which True North Copper can evaluate future mining, processing and development scenarios across the CCP, while continuing to assess opportunities to grow the resource through further exploration and technical studies.
Company Statement
“Wynberg is not solely a gold project, but a gold-copper system with potential for further growth and development flexibility.”
Understanding a Mineral Resource Estimate
A JORC (2012) Mineral Resource Estimate is a technical statement of the quantity and quality of mineralisation, classified into confidence categories based on geological understanding and data density. Measured resources have the highest confidence, supported by closely spaced drilling and detailed geological interpretation. Indicated resources have moderate confidence, whilst Inferred resources carry lower confidence and should not be the sole basis for investment decisions.
Cut-off grade defines the minimum metal content required for material to be included in the resource. Lowering the cut-off from 0.75 g/t to 0.4 g/t Au at Wynberg increased tonnage but reduced average grade—this is a modelling choice, not grade deterioration. It reflects an assessment that lower-grade material may still have reasonable prospects for economic extraction under the right processing and cost assumptions.
Gold equivalent (AuEq) combines gold and copper into a single metric using assumed metal prices (US$4,470/oz Au, US$5.80/lb Cu) and metallurgical recoveries. These are early-stage, conceptual assumptions—not the result of a detailed technical study. They help investors judge the relative value of a multi-metal resource, but should be treated as indicative only.
Copper—the underappreciated upside
The copper sulphide mineralisation at depth represents a new dimension to the Wynberg story. Standout copper-gold intercepts include:
- 27.82 m @ 1.0% Cu & 1.2 g/t Au from 6.18 m (including 20.04 m @ 1.33% Cu & 1.6 g/t Au) — WYDD006
- 16.07 m @ 0.94% Cu & 1.0 g/t Au (including 7.12 m @ 1.69% Cu) — WYDD016
- 34.4 m @ 0.44% Cu & 3.9 g/t Au (including 9.1 m @ 1.06% Cu & 7.9 g/t Au) — WYDD022
- 46.0 m @ 0.42% Cu & 1.8 g/t Au from 8 m — WYDD021
Long sections show lodes remain open at depth, suggesting opportunity for resource growth with further drilling. However, metallurgical testwork indicates Wynberg is not a simple leach-only project. The most likely processing route would involve a combination of gravity recovery, cyanide leaching and flotation. No flotation testwork has been completed yet, and this remains an honest technical consideration that will require further assessment as development studies progress.
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The investment case and what comes next
Wynberg underpins True North Copper’s three-platform growth strategy: Grow (Mt Oxide 220 kt Cu resource), Develop (CCP near-term cashflow), and Discover (regional Tier-1 IOCG targets). The updated resource supports the separately released Wynberg Scoping Study and positions the asset as a potential near-term contributor to the broader CCP development pathway.
Next steps:
- Integrate Wynberg into broader CCP development scenarios (subject to further technical and metallurgical work)
- Follow-up mapping, EM surveys and drill-testing of growth targets (Burnt Ute, down-plunge extensions, Birdvale, Black Siltstone)
- Continued resource growth through exploration and studies
Wynberg is a 100%-owned, approvals-in-hand asset in the world-class Mt Isa region, positioned to underpin near-term development whilst retaining meaningful exposure to longer-term copper-gold upside through deeper sulphide mineralisation.
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