True North Copper (TNC) has delivered an updated mineral resource estimate (MRE) for its Vero deposit in Queensland, including a 20 per cent increase in silver ounces.
The Vero deposit forms part of TNC’s Mt Oxide Project, and the updated MRE demonstrates the potential for Vero to deliver a significant silver co-product in addition to copper.
TNC used revised geotechnical and metallurgical studies in the updated geological analysis for the MRE and will also inform possible mining options for the Vero deposit.
Reassessing underground mine voids and introducing an improved geological deposit model has resulted in a minimal three per cent decrease in copper metal tonnes, delivering further confidence in the resource integrity following 2023 confirmatory drilling.
True North Copper’s CEO and MD, Bevan Jones, said: “We are pleased to deliver an update to Vero’s contained resources, particularly an increase in silver—a metal currently seeing a supply-demand imbalance due to demand in solar and other technology applications.
“This updated resource also provides greater confidence in the deposit, following TNC’s first program of confirmatory drilling and a substantially updated geological model, which incorporates historic resource depletion by previous mining.
“We see exploration upside within reach of shallow drilling at Ivena, north of the Resource, and along a 10km section of the Dorman fault where we are actively exploring for satellite zones of mineralisation with the MIMDAS crew onsite completing the line at Camp Gossans.”
Mr Jones said the survey team is moving to the north to acquire the line over the Vero Deposits to identify drill targets at depth below the current resource.
“We look forward to providing an update on our progress on these Mt Oxide exploration activities over the coming months.”
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