TNC Intersects 69.95m @ 1.91% Cu and 16.75m @ 5.30% Cu at Vero Resource, Mt Oxide

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to report exceptional assay results from drillhole MOXD226A, the final drillhole of its successful initial Vero Resource drilling program. The Vero Resource is part of TNC’s 100% owned Mt Oxide Project (located 140km north of Mount Isa, Queensland, see Figure 1).

HIGHLIGHTS

• MOXD226A has returned three key zones of strong mineralisation including a broad interval of 69.95m and further intervals of up to 11.19% Cu. Highlights include:
• 69.95m (42.85m*) @ 1.91% Cu, 17.7g/t Ag and 675 ppm Co from 224.55m
  • Inc. 9.65m (5.89m*) @ 2.74% Cu, 24.1g/t Ag and 993 ppm Co from 239.50m
  • Inc. 18.15m (11.07m*) @ 3.23% Cu, 26.8g/t Ag and 585 ppm Co from 276.35m
• 16.75m (16.75m*) @ 5.30% Cu, 44.0g/t Ag and 120 ppm Co from 165.25m
  • Inc. 4.65m (4.65m*) @ 11.19% Cu, 93.9g/t Ag and 136 ppm Co from 172.55m
• 16.60m (11.17m*) @ 2.11% Cu, 18.9g/t Ag and 468 ppm Co from 342.00m
  • Inc. 6.30m (4.22m*) @ 4.50% Cu, 33.7g/t Ag and 141 ppm Co from 343.05m
• These follow previous results including MOXD217 returning 66.5m @ 4.95% Cu¹; MOXD225 returning two intersects of 26.20m @ 4.45% Cu and 46.60m @ 2.18% Cu²; MOXD221 returning 42.10m @1.66% Cu (inc. 4.00m @ 7.65% Cu)³.
• Results further confirm the Vero Resource hosts a large-scale, copper-cobalt-silver system with multiple wide high-grade Cu-Co steeply dipping shoots and lenses.
• TNC expects to announce a re-estimated Vero Resource in Q1 2024 with 3D geological interpretation, metallurgical sampling, and test program design underway.

COMMENT

True North Copper Managing Director, Marty Costello said:

We’re incredibly excited to share these exceptional assay results from the final drillhole of our initial Vero Resource drilling program. The Vero drilling program has delivered phenomenal intersections across multiple drillholes reaffirming the significant potential of the resource. From the first drillhole MOXD217 returning 66.5m @ 4.95% Cu to this final drillhole MOXD226A hitting up to 11.19% Cu and revealing three broad mineralisation zones including 69.95m @ 1.91% Cu and 16.75m @ 5.30% Cu, this program has been a major success.

Confirmation of the Vero Resource’s outstanding mineralisation places us in a very confident position as we work to re- estimate the Vero Resource. We look forward to announcing the re-estimated resource in early 2024.

This final suite of Vero assay results will feed into our current geological modelling and ongoing mining studies. Metallurgical sampling and test program design is also continuing across the Mt Oxide Project. We are committed to maximising the Vero Resource and remain steadfast in unlocking the entirety of the Mt Oxide Project’s highly prospective potential.

Figure 1. Location and regional geological framework Mt Oxide Project which hosts the Vero Copper-Silver-Cobalt Resource5

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