Drilling for Vero copper mine in Queensland shows rich deposits
2023 09/23
True North Copper's first diamond borehole at the Vero mine in Queensland has yielded a bonanza.
The Mt Oxide deposit has been central to the company's future plans, and the first substantial exploration in a decade has been successful.
Core analysis revealed that the drill yielded 66.5 m of ore at a depth of 234 m, with a copper grade of 4.95%, silver 32.7 g/t and cobalt 0.0685%, including mineralization of 10.5% copper at a thickness of 20 m.
The main ore body is sandwiched between two layers:
◎ 9 meters at a depth of 173 meters, copper grade 6.16%;
◎ Found 11 meters at 357 meters depth, copper grade 3.06%.
No silver or cobalt.
The company believes that the first drilling results are "extraordinary" and that the high-grade copper-cobalt-silver ore body may extend further to support the construction of an open pit and underground mining project.
A $52 million has been invested in the Oakside Hill project.
The company's initial plan is to expand the resource volume along the downward trend and along the trend to further understand the cobalt resource situation.
Vero project ore resources of 15.98 million tons, copper grade 1.43%, silver 6.91 g/ton. In addition, the amount of cobalt ore resources is 9.15 million tons, and the cobalt grade is 0.23%.