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True North Copper has announced “exceptional” high-grade copper-cobalt-silver results from its first drillhole at the Vero resource in Queensland.

The Vero resource is part of True North’s 100 per cent owned Mt Oxide project, approximately 120km north of Mt Isa in north-west Queensland.

Drilling at the first drillhole in the initial diamond drilling program returned:

  • 66.50m (48.00m) at 4.95 per cent Cu (copper), 32.7 g/t Ag (silver) and 685 ppm Co (cobalt) from 234.00m
  • 11.00m (8.19m) at 3.06 per cent Cu, 34.2 g/t Ag and 682 ppm Co from 357.50m
  • 8.55m (8.55m) at 6.16 per cent Cu, 45.9 g/t Ag and 140 ppm Co from 172.50m.

“This is a tremendous outcome from the first hole of our initial diamond drilling program at Vero,” True North Copper managing director Marty Costello said.

“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.”

True North is now planning for follow-up drilling, airborne geophysics and the development of a new 3D mineral system model.

“True North Copper is committed to our Mt Oxide project,” Costello said. “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.”

The company began ASX trading in June of this year.