True North Copper Launches 6,000m Drilling to Expand Mt Oxide Aquila Discovery

Drilling Commences to Build on Aquila Discovery Momentum

True North Copper Limited (ASX:TNC) has launched a 23-hole, approximately 6,000m drilling program at its Mt Oxide Project, designed to expand the 2025 Aquila discovery and grow the wider mineralised system. The campaign combines reverse circulation (RC) and diamond drilling to target down-dip and along-strike extensions of high-grade copper-cobalt-silver mineralisation, while also improving geological continuity and supporting resource growth.

The Aquila discovery, which delivered significant intercepts last year including 145m at 0.75% Cu and 59m at 1.77% Cu, has reshaped expectations for the Mt Oxide corridor. True North’s Managing Director Andrew Mooney highlighted that the discovery has "fundamentally improved our view of Mt Oxide," confirming potential for a sizeable standalone copper project that could become a long-term growth platform for the company.

Phased Approach Balances Growth and Exploration Flexibility

The 2026 program is split into two phases. Phase 1 focuses on expanding Aquila, with 18 RC holes and 5 diamond holes planned to test mineralisation continuity and structural controls to depths of around 150m below previous intercepts. This includes infill drilling to boost confidence and technical drilling to support future development studies and metallurgical assessments.

Phase 2, scheduled for later in the year, will integrate ongoing geophysical and geochemical survey results to extend Aquila further, advance the existing Vero Resource, and test additional high-priority targets such as Apollo and Rhea. This flexible approach allows True North to adapt drilling plans based on evolving data, maintaining momentum across the district-scale system.

This strategy builds on recent geophysical advances, including a $250,000 Queensland Government UAV survey grant that refined concealed target identification ahead of drilling, demonstrating a methodical layering of exploration techniques to maximise discovery potential $250k UAV Survey Grant.

Mt Oxide Positioned as a Key Growth Platform

Mt Oxide sits within True North’s Mt Isa portfolio and already hosts a significant polymetallic resource base combining copper, cobalt, and silver. The project corridor extends over 10km and incorporates the Vero Resource and Aquila discovery, with potential to define a sizeable standalone deposit. Current resource tables show Vero contains over 220kt of copper and 21kt of cobalt, while Aquila’s mineralisation continues to demonstrate scale and grade.

True North’s broader growth strategy also includes advancing the Cloncurry Copper Project towards near-term cashflow and exploring Tier-1 regional targets such as Chumvale and Marimo. Recent resource upgrades at Cloncurry have added 7% more copper and 9% more gold, supporting ongoing feasibility and development studies Cloncurry Resources by 7%.

Upcoming Catalysts and Operational Outlook

The Phase 1 drilling is expected to run through April to July 2026, with assay results to follow and feed into updated geological models. These results will be critical in confirming the scale and continuity of mineralisation at Aquila and informing Phase 2 targeting. Additional geophysics, trenching, and mapping will complement drilling outcomes to refine the broader exploration framework.

While drilling plans retain flexibility to test emerging targets such as Apollo and Acanthis, the company’s focus remains on systematically growing the resource base and enhancing geological understanding. The integration of diamond core drilling will provide valuable structural insights to support future development pathways.

True North Copper’s approach at Mt Oxide exemplifies a disciplined balance of resource growth and discovery potential, leveraging recent successes and technical advances to unlock value in a proven copper-cobalt district.