Our Assets
Mt Oxide Project
Status
Exploration and Resource Development
Jurisdiction
Tier 1, Australia
Ownership
100% TNC
Location
North West Queensland
Mineral Resources
220 kt Cu, 5.13 Moz Ag, 21.2 kt Co (JORC 2012)
Metals
Copper
Cobalt
Silver
The Aquila Discovery
The Mt Oxide Project has established infrastructure, including an exploration camp and proximity to a processing plant and power grid. Located in the Mt Isa Inlier — a world-class copper province — the project has seen no systematic district-scale exploration in more than 20 years prior to True North Copper's involvement.
Mt Oxide is anchored by the Vero Resource (15.03 Mt at 1.46% copper and 10.59 g/t silver; 9.15 Mt at 0.23% cobalt). The Company’s exploration and resource development program is focused on making new discoveries to build a district of satellite deposits around Vero and to define the full extent of the regional-scale Mt Oxide mineral system.
Drilling at the Aquila discovery has confirmed a broad, shallow and high-grade copper-cobalt-silver mineralised system that remains open along strike and at depth, within the same regional structure that hosts the Vero Resource.
Standout results from the 2025 and 2026 drilling programs include:
59m at 1.77% copper, including 33m at 2.83% copper and 7m at 7.97% copper — among the strongest copper intercepts reported in Australia this year
145m at 0.75% copper, 0.12% cobalt and 2.9 g/t silver from 28m, including 5m at 4.30% copper
130m of high-grade mineralisation extending the known system to approximately 300m below surface
Drilling and geophysics have defined the mineralised system over an interpreted 2.3km of strike, with consistent true widths of 45–60m and multiple high-grade shoots. The prospective corridor now extends more than 4km, with maiden drilling at the Chidna prospect defining a zone up to 300m wide.
Key Highlights
HIGH-GRADE RESOURCE
The project includes the Vero Resource, which consists of 15.03Mt at 1.46% copper, 10.59 g/t silver, and 9.15Mt at 0.23% cobalt.
Established Infrastructure
100km north of the Mt Isa Copper Smelter and 40km by road from 29Metals’ Capricorn Copper mine’s processing plant and power grid, the Mt Oxide Project benefits from existing infrastructure which can be leveraged for efficient mining and processing operations.
DISTRICT-SCALE DISCOVERY
Drilling at the Aquila discovery has confirmed a broad, shallow, high-grade copper-cobalt-silver mineralised system over an interpreted 2.3km of strike — including 59m at 1.77% copper with 7m at 7.97% copper — open along strike and at depth.
GROWTH POTENTIAL
The mineralised corridor hosting Vero and Aquila now extends more than 4km, with maiden drilling at Chidna defining a zone up to 300m wide and prospective structures continuing a further 2km north. The Vero Resource remains open at depth and along strike.