Alma Metals reports assay results from Briggs Copper Project

Alma Metals (ASX:ALM) has reported further positive assay results from core drilling at its Briggs Copper Project in Queensland.

The latest assays reveal copper mineralisation near the surface, bolstering hopes of defining a higher overall resource grade at Briggs.

The key highlights from the recent drilling include hole 24BRD0028, which intersected 159.3m averaging 0.40% Cu and 21 ppm Mo from 8.1m depth, with a standout section of 68.0m @ 0.70% Cu and 19ppm Mo from 28m.

Additionally, hole 24BRD0027 intersected 82.3m @ 0.26% Cu and 31ppm Mo from 10.0m depth.

The findings are aligned with previous results from nearby hole 24BRD0026, which intersected 276m @ 0.45% Cu from surface.

Alma Metals Managing Director, Frazer Tabeart, commented on the results "These results continue to demonstrate the presence of significantly higher-grade copper zones close to surface within the Briggs resource, aligning with our strategy to define a higher overall resource grade."

Tabeart added, "These types of wide intervals at greater than 0.4% copper are a promising indication that Briggs may develop into a substantial porphyry copper project."

The current drilling program forms part of a joint venture agreement with Canterbury Resources  (ASX:CBY).

Alma Metals expects to meet the expenditure requirements to complete Stage 2 of the earn-in, increasing its interest in the Briggs Project to 51%.

Assay results for the next two drill holes are anticipated within the next three to four weeks.

Alma Metals continues its infill drilling campaign, with funds from recent capital raising allocated to further define these higher-grade areas.

The results will contribute to a resource update and potentially a scoping study later this year.