Camp Gossans, Mt Oxide Priority Exploration Target - Rock Chips Return Strongly Anomalous Copper, 1.2km Along Strike from Vero

One of TNC’s 2024 priority exploration targets¹, Camp Gossans is 1.2km along strike from the Vero Resource (Vero) at TNC’s Mt Oxide Project. TNC completed sampling at Camp Gossans in December 2023.

HIGHLIGHTS

• Camp Gossans is part of the larger Dorman Fault Mineral System, a +10km long trend that hosts Vero.
• Mineralisation is developed in the Gunpowder Creek Formation that hosts several other copper deposits in the region including Vero, Lady Loretta, and Esperanza.
• Potential for a large-scale deposit indicated from mapped strike length and widths of mineralisation.
• Anomalous Cu, Co & As zones identified from multiple gossanous breccia structures that are up to 16m wide with a combined strike length of over 500m including:
• Alpha Gossan – +300m long and up to 9m wide Cu-Co-As trend with +100m strike of gossanous hydrothermal breccias returning up to 0.11% Cu and 0.3 g/t Au.
• Gamma Gossan – +310m folded Cu +/- Co As Ag trend of gossanous breccias with visible copper oxide mineralisation and up to 0.12% Cu within the Gunpowder Formation sediments, host to Vero.
• Beta Gossan – +350m intermittently outcropping gossanous breccia with anomalous Co-As and two sub zones of elevated Cu:
  • Zone A – +90m Cu Co As geochemical trend over an untested 16m wide intensely oxidised outcrop with leached textures returning up to 0.47% Cu and 0.61% Cu from neighbouring sub-crop.
  • Zone B – +20m Cu Co As geochemical trend over intensely oxidised, 5m wide outcrop returning up to 0.15% Cu.
• Similar breccia textures and mineralisation styles to outcrops at Vero (TNC’s 100% owned Mt Oxide Project) and the Esperanza, and Esperanza South Resources (part of 29 Metals Limited’s [ASX: 29M] Capricorn Copper Project located 25km south of Vero).
• The results are the same order of magnitude of geochemical anomalies from the leached gossans formed above Capricorn Copper's deposits. Capricorn Copper’s Esperanza (8.4Mt @ 7.9% Cu)² and Esperanza South Deposits (2.7Mt @ 2.0% Cu)³ returned up to 0.62% Cu⁴ and 0.24% Cu⁴ respectively in historic rock chips from leached gossans at surface. Comparable rock chips from similar leached gossans at Camp Gossans returned up to 0.61% Cu.

COMMENT

True North Copper’s Managing Director, Marty Costello said:

“Camp Gossans is a high priority 2024 exploration target at our Mt Oxide Project. We believe it holds exceptional discovery potential. Mapping and rock chip sampling identified highly anomalous copper and cobalt zones. The footprint and geochemical results at Camp Gossans are also similar in size, mineralisation style and geochemical anomalism to the discovery outcrops at Esperanza and Esperanza South, which have produced significant copper at the Capricorn Copper Project that lies 25kms to the south*.

Despite significant historical investment by previous Mt Oxide owners at the Vero Resource, multiple prospects including Camp Gossans, have never been systematically explored or drill tested. Camp Gossans is now a confirmed TNC priority for geophysics programs and drilling in 2024.

We look forward to sharing our progress and achievements as we venture into this exciting and transformative phase of production, development and exploration including commencing mining operations at our Cloncurry Copper Project, advancing our 2024 exploration program and developing Mt Oxide into our next mine.”

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