Phase 1 IP Survey Grows Aquila Discovery to Over 1.5km at Mt Oxide

Aquila Discovery Grows with Phase 1 IP Survey

True North Copper Limited (ASX:TNC) has boosted the scale of its promising Aquila copper-cobalt-silver discovery at the Mt Oxide Project in Northwest Queensland. The company’s recently completed Phase 1 Induced Polarisation (IP) geophysics program, covering approximately 7 line kilometres, extended the Aquila anomaly by around 500 metres to the north, pushing the total strike length beyond 1.5 kilometres. Crucially, mineralisation remains open along strike and at depth, suggesting substantial upside potential beyond the current drilling footprint.

The Phase 1 IP survey has reinforced the strong correlation between chargeability and conductivity anomalies and the copper-cobalt-silver sulphide mineralisation previously intersected by drilling, which included notable intercepts such as 145 metres at 0.75% copper and 59 metres at 1.77% copper. This geophysical validation underpins True North’s confidence in its geophysics-led targeting strategy, which is tailored to the geological setting north of Aquila and draws parallels with the Mammoth Deposit in the Capricorn Copper district, located about 20 kilometres south.

New Targets Along Mt Gordon Fault Zone

Beyond Aquila, the survey identified and extended anomalies at the Apollo and Acanthis prospects, both situated along the Mt Gordon Fault Zone. These findings support the interpretation of multiple parallel mineralised structures within the corridor, enhancing the prospectivity of the broader district. Surface mapping has detected copper oxides and sulphide markers above these new IP anomalies, further validating their potential as high-priority drill targets.

The northern extensions of these trends converge beneath mapped quartz-hematite breccias exhibiting textures and geochemical signatures akin to those at Aquila, with chargeability anomalies extending to depths of approximately 500 metres. This depth potential exceeds that of existing drilling, where near-surface conductivity effects may have masked deeper chargeability responses.

Strategic Implications and Next Steps

Managing Director Andrew Mooney emphasised that the Phase 1 IP program marks a pivotal step in systematically growing the Mt Oxide Project. The expanded strike length and persistent open mineralisation reinforce the significance of the Aquila discovery as a scalable copper-cobalt-silver system. Encouraging results at Apollo and Acanthis add to the vision of Mt Oxide hosting multiple mineralised structures that could support a standalone copper development over time.

Building on these results, True North plans to refine and prioritise drilling to extend Aquila both along strike and at depth, while advancing drill targeting of the newly identified parallel structures. The company intends to integrate the latest IP data with geological and structural information for upcoming drill planning. Surface mapping and sampling across new anomalies will complement these efforts, alongside downhole electromagnetic surveys to extend targets at depth. A Phase 2 IP geophysics program and a UAVSAM drone survey are scheduled to expand coverage along the Mt Gordon corridor later this year.

This targeted approach aligns with True North Copper’s three-platform growth strategy: growing the Mt Oxide resource, developing near-term cash flow at the Cloncurry Copper Project, and pursuing district-scale IOCG discoveries at regional targets. The recent 6,000m drilling program aims to capitalize on these geophysical insights, potentially accelerating resource expansion and project development.

True North’s ongoing consolidation of its Cloncurry assets, including the recent JV acquisition with Glencore, complements its exploration momentum at Mt Oxide. Together, these initiatives position the company to advance both near-term production pathways and longer-term discovery potential in the Mt Isa region.