True North Copper Uncovers Vast Copper System at Mt Oxide, Fuelling 2026 Ambitions

Drilling Success at Aquila Confirms Scale and Continuity

True North Copper Limited (ASX, TNC) has delivered a robust set of results from its 2025 Phase 2 reverse circulation drilling program at the Mt Oxide Project in northwest Queensland. The program focused on the Aquila Discovery and the nearby Acanthis and Apollo trends, confirming the geometry, continuity, and scale of copper-silver-cobalt mineralisation.

At Aquila, the company has now defined mineralisation over a strike length exceeding 1,000 metres, with true widths estimated between 45 and 60 metres across a central 250-metre zone. The mineralised system exhibits a near-vertical orientation, extending from near surface to significant depths, and remains open along strike and at depth. Notably, drillhole MOX267 intersected 74 metres at 0.49% copper, including higher-grade zones up to 3.44% copper over shorter intervals, reinforcing the potential for a substantial deposit.

Validation of Parallel Mineralised Trends

Beyond Aquila, first-pass drilling at the Acanthis trend has intersected copper mineralisation coincident with induced polarisation (IP) geophysical anomalies, validating the regional geophysical model. Drillhole MOX268 returned 18 metres at 0.10% copper from 202 metres, confirming Acanthis as a parallel mineralised system and expanding the district-scale potential of Mt Oxide. The Apollo trend, while less optimally drilled due to topography, remains a compelling target for future exploration.

Strategic Implications and 2026 Exploration Plans

True North Copper’s Managing Director Andrew Mooney emphasised that these results underpin the company’s disciplined three-stage growth strategy, developing the Cloncurry Copper Project for near-term cashflow, growing the Mt Oxide resource, and pursuing discovery across regional Tier 1 targets. The Phase 2 drilling has provided critical technical confidence in the mineralisation’s geometry and continuity, enabling informed capital allocation and sequencing decisions.

Exploration Manager Barry Jones highlighted the rarity of such a high-grade mineral district with limited modern exploration. The 2026 program, fully funded, will build on this momentum by extending IP geophysical coverage, advancing geological understanding through diamond drilling, and executing targeted reverse circulation step-out drilling. This staged approach aims to unlock the district-scale potential of Mt Oxide and test multiple parallel trends for additional large-scale copper opportunities.

Geological Context and Broader District Potential

The Mt Oxide Project sits within the Western Fold Belt of the Mount Isa Inlier, a world-class metallogenic province. Mineralisation is structurally controlled along the Mt Gordon Fault Zone and related structures, with copper hosted in sub-vertical shear zones and breccias. The presence of hypogene chalcocite mineralisation suggests high-grade copper lenses may persist at depth, a key feature shared with nearby deposits such as Vero and Capricorn Copper.

Additional regional targets including Ivena North, Camp Gossan, Cave Creek, and Rhea have been identified, each showing promising geological and geophysical signatures. These targets will be further assessed in 2026, supporting the vision of Mt Oxide evolving into a multi-target copper district.

Technical Assurance and Next Steps

The drilling program employed industry-standard reverse circulation techniques with rigorous sampling, assaying, and quality control protocols. While minor assay contamination issues were noted, these were deemed to have negligible impact on the overall results. The company plans to extend drilling along strike and at depth, refine geological models with diamond drilling, and expand geophysical surveys to prioritise targets.

With a fully funded exploration budget and a clear strategic framework, True North Copper is well positioned to advance Mt Oxide’s resource potential and deliver on its growth ambitions in 2026 and beyond.