TNC Intersects 66.5m At 4.95% Cu In First Drillhole At Vero Resource, Mt Oxide

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to report exceptional high-grade copper- cobalt-silver mineralisation from the Company’s first drillhole of an initial diamond drilling program at the Vero Resource, part of its 100% owned Mt Oxide Project, Queensland.

HIGHLIGHTS

• First drillhole (MOXD217) in initial diamond drilling program returns phenomenal results. Highlights include:
• 66.50m (48.00m*) @ 4.95% Cu, 32.7 g/t Ag and 685 ppm Co from 234.00m^
  • inc. 20.60m (15.47m*) @ 10.51% Cu, 63. g/t Ag and 1,149 ppm Co from 234.60m# and
  • inc. 8.55m (5.62m*) @ 6.03% Cu, 51.6 g/t Ag and 98 ppm Co from 290.15m#
• 11.00m (8.19m*) @ 3.06% Cu, 34.2 g/t Ag and 682 ppm Co from 357.50m
  • inc. 4.00m (2.93m*) @ 6.00% Cu, 63.7 g/t Ag and 544 ppm Co from 357.50m#
• 8.55m (8.55m*) @ 6.16% Cu, 45.9 g/t Ag and 140 ppm Co from 172.50mx
  • inc. 2.80m (2.80m*) @ 14.74%Cu, 102.5 g/t Ag and 54 ppm Co from 178.25m#
• Assay results from ongoing additional drilling at Vero and within TNC Mt Oxide exploration permits are expected to be returned from laboratories throughout Q3, Q4 2023.
• Planning for follow-up drilling, airborne geophysics, district scale mapping and development of a new 3D mineral system model are underway.

COMMENT

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

“This is a tremendous outcome from the first hole of our initial diamond drilling program at Vero. These drill results are simply stunning, not only returning superb grades but also showcasing the ever-expanding nature of the Vero high grade ore body. With every drillhole, we are increasing our confidence and expanding the extent of the resource. We continue to see encouraging visuals from the holes drilled to-date and look forward to reporting assays in the coming weeks.

Our 100% owned Vero Resource at our Mt Oxide Project offers our valued investors an opportunity to be a part of something special, a large and very high-grade copper and cobalt critical minerals project in a Tier 1 jurisdiction.

TNC is committed to our Mt Oxide Project. This initial drill program is the first significant on-ground exploration undertaken on the Vero Resource since 2012. Copper sulphate production is underway at our Cloncurry based Great Australia Mine and we intend to use cashflows to continue drilling and expanding our Vero Resource.”

WEBINAR

TNC will host a webinar on Friday 11 August 2023 at 11:00am Australian Eastern Standard Time/9:00am Australian Western Standard Time to discuss this announcement. Participants are advised to connect five minutes prior to the scheduled start time of the webinar.

Details

• Presenters: True North Copper Managing Director Marty Costello and Global Ore Discovery Director Daryl Nunn
• Date/time - Friday 11 August at 11:00am AEST (9:00am AWST)
• Register to join via zoom using this LINK. https://us02web.zoom.us/webinar/register/WN_HrcDHigSSri3fHv1YR_kHg
• A recording of the webinar will be available on the True North Copper website following the webinar.

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