First hole, first hit

True North Copper (TNC) has come up trumps on its first drilling effort at the Vero resource which makes up part of its Mt Oxide Project. The Mt Oxide Project is located approximately 150km to the north of Mount Isa and 24km north of the Capricorn Copper Mine. The lease had been held by Perilya Limited since the mid-1980s until the TNC buy-out last month (Jun23). The resource contains 15.98 Mt at 1.43% Cu and 6.91 g/t Ag1 total combined Measured, Indicated, and Inferred resource and a separate 9.15 Mt at 0.23% Co1 total combined Measured, Indicated and Inferred resource. Its first drillhole has intersected wide downhole intercepts of visually impressive copper mineralisation the company told the ASX. It was the start of an initial diamond drilling program aimed at increasing confidence and expanding the extent and grade of the resource. The drill program is the first significant on ground exploration undertaken on the Vero Resource since 2012. They were excited at the visual results intersecting wide zones of visually impressive copper mineralisation. said TNC’s Managing Director, Marty Costello. “This is the first hole of an initial drilling program at the project aimed at expanding the existing extent of the mineralisation at Vero and improving the overall grade of the copper and cobalt resources,” Mr Costello said. “We believe the Mt Oxide Project is truly unique to Australia. It contains two well defined critical mineral resources, of copper and cobalt, that are of considerable size and grade. “Our current Mt Oxide drilling program gives us increasing confidence in the type and scale of the resources, it also allows the continuation of our scoping and feasibility works by providing samples for metallurgical test work.” Historical workings More than 110,000 metres of historical drilling has already been undertaken across the Vero Resource by the previous owner, the company said. Around 75 percent of the Vero Resource is in JORC 2012 indicated status or better with existing resources identified as containing 228.18 kt of copper (Cu), 21.20 kt of cobalt (Co), and 4.26 Moz of silver (Ag). The Vero Resource consists of 15.98 Mt of ore at 1.43 percent copper and 6.91 g/t silver, as well as 9.15 Mt at 0.23 percent cobalt. These resources were open-to-depth, indicating the potential for further high-grade copper, cobalt and other mineral discoveries, the company said.

First hole, first hit

Industry Queensland

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