True North Copper Builds Momentum With Mt Oxide Discovery and Cloncurry Resource Upgrade

An update from True North Copper ( (AU:TNC) ) is now available.

True North Copper reported a strong March quarter marked by accelerated field activity at both its Mt Oxide and Cloncurry Copper projects, despite seasonal wet weather. The company strengthened its technical team and recommenced drilling in mid-February, aiming to deliver extensive drilling programs and a Pre-Feasibility Study for Cloncurry by late 2026, underpinned by $12.3m in cash.

At Mt Oxide, final 2025 drilling results confirmed Aquila as a high-grade copper-cobalt-silver system up to 40–60 metres wide and at least one kilometre long, remaining open along strike and at depth. True North Copper also secured around $750,000 in government grants to support drilling, assess legacy stockpiles and run UAV-based geophysics, with drilling restarting in April to test Aquila extensions, the Vero resource and other targets.

At the Cloncurry Copper Project, updated mineral resource estimates increased contained copper to about 109,000 tonnes, reinforcing the economics and scope of the ongoing Pre-Feasibility Study. The company completed 2,900 metres of drilling at the Great Australia Mine and commenced a 3,300-metre campaign at Wallace North, aimed at extending resources, advancing exploration and feeding metallurgical test work.

Strategically, True North Copper moved to expand its regional footprint by signing a purchase agreement to acquire an interest in the Carpentaria joint venture with Glencore, which hosts the 3.1-million-tonne Mongoose copper resource. The company also identified new high-priority copper-gold targets near its existing Wynberg gold resource on a granted mining lease, supporting potential resource growth and broader portfolio value for investors and regional stakeholders.

The most recent analyst rating on (AU:TNC) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on True North Copper stock, see the AU:TNC Stock Forecast page.

More about True North Copper

True North Copper is an ASX-listed miner advancing a portfolio of 100%-owned copper assets in Queensland’s Mt Isa region, including the Mt Oxide and Cloncurry Copper projects. Its resource base totals about 330,000 tonnes of contained copper, supplemented by gold, silver and cobalt, positioning the company to leverage long-term demand for energy transition metals.

The Mt Oxide Project hosts the Vero copper-cobalt-silver resource and the emerging Aquila discovery, while the Cloncurry Copper Project is being progressed through a Pre-Feasibility Study toward potential development from 2027. Major shareholders include Tembo Capital, Glencore Australia, Regal Funds Management and Nebari Natural Resources, with the top 20 investors holding over 70% of the register.

Average Trading Volume: 416,196

Technical Sentiment Signal: Sell

Current Market Cap: A$69.33M

For detailed information about TNC stock, go to TipRanks’ Stock Analysis page.