Alma Metals Targets Hidden Copper Riches with Deep Drilling at Briggs

Drilling Commences on Strategic Target

Alma Metals Limited (ASX, ALM) has commenced drilling a significant 900-metre deep diamond drill hole at its flagship Briggs Copper Project in Central Queensland. This drilling program aims to test a compelling geophysical target identified by a 2015 VTEM survey, situated immediately adjacent to the southwest boundary of the current mineral resource estimate, which contains over 2 million tonnes of copper.

The project benefits from partial funding through a $250,000 grant from the Queensland Government’s Collaborative Exploration Initiative (CEI), enabling Alma to accelerate exploration activities ahead of schedule. Early drilling has already intersected visible copper mineralisation below the base of weathering at a shallow depth of 11.8 metres, a promising sign that the target area may host economically significant copper mineralisation.

Technical Insights and Exploration Potential

The drill hole is designed to traverse the full extent of known mineralisation at Briggs, providing critical geological and geochemical data to refine resource models and guide future exploration. Initial core logging reveals oxidised volcanic rocks transitioning to fresh, potassic altered volcaniclastic sediments containing quartz veining with coarse-grained copper sulphides. These observations align with Alma’s interpretation of a multi-stage copper deposition system, involving both potassic and phyllic alteration events.

Importantly, the drilling will test the VTEM anomaly, which has been correlated with higher copper grades in the existing resource model. The data collected will also support metallurgical and alteration studies, essential for advancing the project’s development and economic assessment.

Strategic Location and Infrastructure Advantages

The Briggs Copper Project is strategically located just 60 kilometres from the deep-water port of Gladstone, with excellent access to infrastructure including high-voltage power lines, heavy haulage rail, gas pipelines, and major highways. This infrastructure advantage enhances the project’s feasibility and potential operational efficiencies, positioning Briggs as one of Australia’s largest undeveloped copper deposits with significant upside potential.

Managing Director Frazer Tabeart highlighted the importance of the CEI grant in accelerating the drilling program and expressed optimism about the potential to reshape the understanding of the Briggs system. The company is concurrently progressing a scoping study, with results expected next quarter, which will provide further clarity on the project’s economic prospects.

Looking Ahead

Assay results from the current drilling campaign are anticipated next quarter and will be pivotal in confirming the extent and grade of mineralisation intersected. These results will feed into an updated Mineral Resource Estimate and inform ongoing technical studies. Alma Metals also plans additional drilling in 2025 to further delineate the resource and explore extensions of the mineralised system.