True North Copper Maps Low-Capital Wynberg Gold-Copper Development Pathways

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.

Mineralisation at the site remains open along strike and down-plunge, with limited historical drilling below about 55 metres of vertical depth and additional early-stage prospects identified within the broader project area.

Three Processing Routes Assessed

The first scenario would treat all mineralisation through gravity and carbon in leach (CIL) processing to produce 39,700oz of gold doré and generate estimated pre-tax cash flow of $52.8m.

A hybrid pathway would send oxide material through gravity and CIL while processing transitional and fresh material by flotation, producing 45,100oz gold equivalent and the highest estimated pre-tax cash flow at $86.8m.

The third option combines heap leaching of oxide material with flotation of transitional and fresh mineralisation, delivering estimated pre-tax cash flow of $59.4m and requiring the highest funding estimate at $38m.

Potential treatment locations include the Lorena Plant for gravity and CIL, the Ernest Henry, Eloise, and Rocklands facilities for flotation, and True North’s Mt Norma infrastructure for a possible heap leach conversion.

Further work through 2026 and 2027 will include flotation and heap leach test work, geotechnical assessment, mine scheduling, water studies, and commercial discussions for regional processing.

Two-Year Mining Campaign

Wynberg’s updated mineral resource estimate totals 1.019 million tonnes at 1.86g/t gold and 0.25% copper, containing 61,000oz gold and 3,000t copper at a 0.40g/t gold cut-off.

The proposed East and West pits are about 500m apart and would support a two-year mining campaign with an overall strip ratio of 8.4:1.

Located about 25km east of Cloncurry, the deposit lies within an existing mining lease and has an environmental authority, approved progressive rehabilitation and closure plan, and land access agreements in place, although approvals would require updates before operations.

“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.

“Together with Wallace North and Mongoose-Taipan, Wynberg highlights the broader opportunity to optimise and enhance the project.”