The Aquila system shows substantial scale and continuity, suggesting district-scale copper mineralisation with depth potential; regional analogues indicate extensions beyond 1.2 kilometres as seen at Capricorn Copper.

The placement comes as the stock has risen more than 60% in the past month, underscoring rising investor interest in the project’s growth trajectory.

Phase two drilling at Mount Oxide is complete, with assays pending from five holes at Acanthis, Apollo, and Aquila North, while extensional IP surveys and an airborne magnetic survey are planned for early next year to refine targets.

Aquila lies about 140 kilometres north of Glencore’s Mt Isa copper concentrator and smelter, with Glencore as a major shareholder, highlighting strategic significance and access to existing infrastructure.

True North Copper reports standout drill results at the Aquila prospect in Mount Oxide, Queensland, identifying high-grade copper with silver and cobalt across a growing footprint that extends up to about 250 metres in depth and 60 metres wide, with the mineralised corridor now stretching roughly 900 metres along strike.

True North secured a $12.5 million institutional placement to fund exploration and development across Mount Oxide through 2026, reflecting investor confidence amid strong drill results and growth potential.

Drilling will resume after the wet season to target Aquila north, south, and at depth, while systematically testing high-priority targets along the 10+ kilometre trend, supported by stronger copper prices that bolster project economics.

Mount Oxide showcases more than 10 kilometres of prospective strike within a fertile structural corridor, with multiple untested targets outside Aquila along the Apollo, Acanthis, and Mt Gordon fault zones forming a broad multi-target exploration area.

Management notes that Aquila’s ongoing expansion, depth potential to at least 1.2 kilometres, and district-scale opportunity position Mount Oxide as a significant new copper district within Queensland.

Phase two results will guide the next drilling phase as five assay results are awaited; surveys planned for early next year aim to prioritise targets across extensional IP and magnetic data.

Glencore’s stake in Aquila underscores the project’s strategic importance and potential infrastructure advantages given its proximity to Mt Isa.

The project area constitutes a multi-target exploration district, including Apollo, Acanthis, and Aquila North along the same structural corridor.