True North Copper Updates Mt Oxide Vero Copper Silver Resource

THE DRILL SERGEANT: True North Copper (ASX: TNC) has reported an update to the copper silver Mineral Resource at the 100 per cent-owned Vero deposit, part of the company’s Mt Oxide project in Queensland.

True North updated the JORC 2012-compliant copper-silver Mineral Resource Estimate (MRE) for the Vero deposit to be:

15.03 million tonnes at 1.46 per cent copper and 10.59 grams per tonne silver for a contained 220,000 tonnes copper and 5.13 million ounces of silver (Indicated and Inferred).

The company noted Vero’s updated Resource delivered a 20 per ent increase in silver ounces, demonstrating the potential for Vero to deliver a substantive sliver co-product in addition to copper.

“We are pleased to deliver an update to Vero’s contained resources, particularly an increase in silver, a metal which is currently seeing a supply-demand imbalance though demand in solar and other technology applications,” True North Copper CEO and MD Bevan Jones said in the company’s ASX announcement.

“This updated Resource also provides greater confidence in the deposit, following TNC’s first program of confirmatory drilling and a substantially updated geological model, which incorporates historic resource depletion by previous mining.

“We see exploration upside within reach of shallow drilling at Ivena, north of the Resource, and along a 10km section of the Dorman fault where we are actively exploring for satellite zones of mineralisation with the MIMDAS crew onsite completing the line at Camp Gossans.

“The survey team are now moving to the north to acquire the line over the Vero deposits with the aim to identify drill targets at depth below the current resource.

“We look forward to providing an update on our progress on these Mt Oxide exploration activities over the coming months.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE