Capricorn Copper Exploration update

29Metals today announced the results of its March quarter 2023 drilling program  at Capricorn Copper. The results of the program, completed before the recent extreme weather event, highlight the continuing potential of Capricorn Copper with demonstrated extensions of known mineralisation at Esperanza South (‘ESS’) and the Mammoth deposits and the identification of a new mineralised trend east of Mammoth. 
Mammoth
Key results include:  
▪ UDMAM22_110: 228.0m @ 1.2% Cu, 3g/t Ag, 50ppm Co, from 427.0m: Including 36.0m @ 3.9% Cu, 6g/t Ag, 188ppm Co, from 427m. 
ESS
Key results include:
▪ SDESS22_003_W3A: 70.0m @ 2.8% Cu, 26g/t Ag, 1083ppm Co, from 821m
▪ SDESS22_003_W2: 48.1m @ 2.7% Cu, 23g/t Ag, 1221ppm Co, from 878.9m
▪ SDESS22_003A_W1: 23.0m @ 3.0% Cu, 10g/t Ag, 779ppm Co, from 737m 

Commenting on the drilling results reported today, Managing Director & Chief Executive Officer Peter Albert said: “These tremendous results continue to demonstrate the growth potential at the Capricorn Copper ore bodies, building upon the highly successful drilling at Capricorn Copper in 2022, which supported a significant increase in estimated Mineral Resource and Ore Reserves tonnes for ESS of 3.5 Mt or 23% and 3.9 Mt or 58%, respectively, in our end-of-year estimates. These results further demonstrate the medium and longer-term potential we see at Capricorn Copper and highlight the importance of our ongoing recovery work to safely return Capricorn Copper to operations following the impacts
of the extreme weather event in March 2023.”