True North Copper consolidates 3.1 million tonne resource

• True North Copper has finalised the acquisition of Renegade Exploration's interest in the Carpentaria joint venture.
• The acquisition integrates the Mongoose and Taipan resource portfolios under unified ownership.
• The transaction allows the company to evaluate alternative mining and development options for its upcoming feasibility study.

True North Copper (ASX:TNC) has completed the acquisition of Renegade Exploration’s (ASX:RNX) interest in the Carpentaria joint venture, securing full control over the 3.1 million tonne Mongoose copper-gold resource.

The consolidation follows the official expiry of a 40-day right of first refusal period that senior joint venture partner Glencore opted not to exercise.

The transaction removes previous tenure boundary constraints to bring the Mongoose deposit directly adjacent to the existing 5.2 million tonne Taipan resource.

Following the announcement, the True North Copper share price was unchanged at $0.44.

The newly integrated portfolio provides immediate access to multiple advanced copper-gold exploration targets, including the Magazine, Mongoose West, and Cloncurry Queen prospects.

The company stated that these combined mineral assets will be evaluated for optimised development scenarios within the Cloncurry Copper Project pre-feasibility study, which is scheduled for completion in the fourth quarter of 2026.

Historical drilling highlights from the consolidated corridor include a continuous intercept of 107m grading 0.51% copper from a depth of 55m.