True North Copper Says Maiden Drilling Defines New Zone at Queensland Project, Shares Down 5%

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True North Copper (ASX:TNC) said new drilling results from its Mt Oxide Project in Queensland show continued growth of the broader mineralised system, according to a Thursday Australian bourse filing.

The results were up to 52 meters at 0.85% copper, 0.01% cobalt and 1.7 grams per tonne grade of silver from 23 meters, including nine meters at 1.89% copper, 59 parts per million cobalt and 3.6 g/t silver from 32 meters.

The company said that high-grade results at Aquila and maiden drilling at Chidna are defining a new about 300-meter-wide mineralized zone.

New shallow and deep targets at both Chidna and Aquila will be followed up in the next phase of drilling, the filing added.

The company's shares fell 5% in recent Thursday trade.

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