A scoping study by True North Copper has identified a low-capital development opportunity at its Wynberg gold-copper project, which could generate between $53 million and $87 million in pre-tax cash flow. Located 25km east of Cloncurry and within the broader Cloncurry Copper Project (CCP) area, the deposit contains 1.019 million tonnes of mineral resource grading 1.86g/t gold and 0.25% copper. The study focuses on the higher-confidence Measured category (416,000 tonnes at 2.12g/t gold and 0.41% copper) and Indicated category (568,000 tonnes at 1.69g/t gold and 0.14% copper), targeting a two-year mining campaign to produce 53,000 gold-equivalent ounces. The project's strategic optionality includes standalone operation, regional toll treatment, or integration with the CCP, leveraging existing processing infrastructure in the region. This aligns with government support for critical minerals projects, including a $600 million package for Mount Isa copper smelter and Townsville refinery. True North plans to complete its Cloncurry Copper Project prefeasibility study by late 2026, with further studies refining development pathways.

Queensland copper-gold explorer True North accelerates drilling at Cloncurry district as it pursues growth targets following recapitalisation and zero-debt position.