Could Pending Assays Make or Break Alma Metals’ Briggs Copper Ambitions?

Strong Assay Results Confirm Mineralisation Continuity

Alma Metals Limited has announced encouraging assay results from the top 231.2 metres of its deepest diamond drill hole, 25BRD0037, at the Briggs Copper Project in Queensland. The hole, which extends to nearly 810 metres, intersected continuous copper mineralisation averaging 0.26% copper, alongside molybdenum and silver, confirming the scale and economic potential of the deposit.

The mineralisation is notably associated with the contact zone between a porphyritic granodiorite intrusion and surrounding volcanic sediments, a geological setting typical for porphyry copper deposits. Core logging revealed the strongest copper mineralisation and alteration within 100 metres either side of this contact, reinforcing the geological model underpinning the current mineral resource estimate.

Drilling Program Extended to Explore Further Potential

With assays pending for the deeper sections of hole 25BRD0037, which include a visually promising 200-metre zone near the southwest intrusive contact, Alma Metals has extended its drilling program. A new hole, 25BRD0038, has been collared 80 metres northwest to test below the peak of a surface copper-in-soils anomaly and along strike from the stronger mineralised zones identified in 25BRD0037.

This step-out drilling aims to delineate the lateral extent of mineralisation and provide critical data for refining the mineral resource estimate. The results will feed into the recently announced prefeasibility study, which is a key milestone in advancing the project towards development.

Strategic Advantages and Joint Venture Framework

The Briggs Copper Project benefits from its location in a well-serviced region just 60 kilometres from the deep-water port of Gladstone, with access to high-voltage power lines, rail, gas pipelines, and major roads. These infrastructure advantages are expected to enhance the project's operational efficiency and economic viability.

Alma Metals currently holds a 51% interest in the project through a joint venture with Canterbury Resources Limited and is progressing towards earning a 70% stake by sole-funding exploration and evaluation activities. The drilling program, partially funded by a Queensland Government grant, is integral to meeting these commitments and advancing the project.

Looking Ahead

As Alma Metals awaits the remaining assay results from hole 25BRD0037 and continues its expanded drilling program, the company is well positioned to update the mineral resource estimate and advance the prefeasibility study. These developments will be closely watched by investors seeking clarity on the project's scale and economic potential.