The finalised CCP mine plans will be announced on completion of the updated Great Australia Mine reserve and the maiden Wallace North reserve, which is expected in early 2024.

Wallace North is fully permitted, enabling the project to be incorporated into TNC's mine plans earlier than expected. 

Exceptional advanced grade control drilling results at Wallace North included multiple gold and copper high-grade zones and will be incorporated into the maiden Reserve.

TNC is in the process of updating its Wallace North resource model to include results from the AGC drilling. 

As a result of recently completed drilling programs, the Great Australia Mine Reserve is in the process of being updated and includes Taipan, Orphan Shear and Great Australia resources.

True North Copper managing director Marty Costello said over the past six months the company's operational and technical teams did enough work for the TNC board to confidently commit to restart mining at the Cloncurry Copper Project. 

He said the fully permitted project presented an opportunity for a low capital expenditure and cash-generative opportunity.

"TNC will release an update on project economics for the expanded CCP on completion of the updated Great Australia Mine Reserve and the maiden Wallace North Reserve in early 2024," Costello said.

"We also plan to reinvest expected free cash flows into the further exploration and development of what we believe to be one of Australia's most promising Critical Mineral Copper Projects - the Mt Oxide Project."

TNC completed refurbishment of the Great Australia Mine SX plant within budget.

Copper sulphate production is underway.