Legacy Waste Risks and Rewards: True North Copper’s Mt Oxide Challenge

Grant Boosts Legacy Waste Reprocessing Efforts

True North Copper Limited (ASX:TNC) has secured approximately A$400,000 from the Queensland Government’s Collaborative Development Program (CDP) to explore the potential of reprocessing legacy mine waste at its Mt Oxide Project in northwest Queensland. This funding will support a comprehensive program involving drill sampling, laboratory assays, metallurgical testing, and technical evaluations aimed at unlocking residual value from historic mine materials.

Collaboration with Regeneration Enterprises

In conjunction with the grant, True North has signed a Letter of Intent with Regeneration Enterprises, a specialist in legacy asset revitalisation and mine waste re-commercialisation. This partnership will leverage Regeneration’s expertise to assess whether the legacy waste streams can be transformed into responsibly sourced mineral products, potentially establishing a scalable commercial pathway. Importantly, this initiative does not transfer rehabilitation responsibilities from the Queensland Government’s Abandoned Mines Department, which currently manages the site’s environmental monitoring and remediation.

Strategic and Environmental Significance

The Mt Oxide Project hosts significant historical workings and stockpiles from previous mining operations dating back to the late 19th century. True North’s Managing Director Andrew Mooney emphasised that the grant aligns with the company’s innovation-led, capital-efficient growth strategy. The program runs parallel to ongoing exploration and development efforts, aiming to generate incremental revenue streams while improving environmental outcomes and reducing legacy risks.

Regeneration Enterprises’ President Stephen D’Esposito highlighted the dual economic and environmental opportunities presented by Mt Oxide’s legacy materials, underscoring the potential for sustainable resource development through structured and rigorous assessment.

Next Steps and Broader Growth Strategy

With funding approval secured, True North and Regeneration will move into detailed program design and site mobilisation. The work will be integrated with True North’s broader 2026 exploration activities to optimise resources and infrastructure use. Key activities include drilling contractors’ engagement, sample collection, laboratory and metallurgical testing, and technical evaluation of processing pathways.

True North’s broader strategy involves developing the Cloncurry Copper Project for near-term cash flow, expanding the Mt Oxide resource base, and pursuing new discoveries in the region, such as the recent Aquila discovery 5 km north of Mt Oxide. The legacy waste program complements these efforts by potentially unlocking additional value and enhancing the company’s environmental, social, and governance (ESG) credentials.