- Major drilling program designed to expand and upgrade MRE
- Building on the existing MRE of 2Mt of contained copper
- MRE remains open at depth with strong copper grades returned from the deepest drill holes
- Alma’s project team has been expanded through new appointments
Alma Metals (ASX: ALM) has kicked off an infill drilling program as part of a major resource upgrade and growth program at its Briggs copper project in central Queensland.
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The initial drilling program is targeting extensions to known mineralisation and areas of strong copper anomalism to the northwest of previous drilling, with further phases of drilling planned as the program advances.
MD, Frazer Tabeart, said the program is a significant step in advancing Briggs through prefeasibility study (PFS) and towards development.
“The commencement of this drilling program marks one of the most significant milestones in Briggs’ history,” Mr Tabeart said.
“With two million tonnes of contained copper already defined at a 0.15% cut-off, a near-surface indicated resource supporting early mine planning, and a system that remains open to the west and at depth with excellent grades in our deepest holes, the resource upside here is genuinely compelling.
“This program is about systematically realising that potential, building the geological confidence needed for pre-feasibility studies and transitioning from explorer to developer.”
Briggs hosts a large MRE which contains two million tonnes (Mt) of copper metal alongside 73 million pounds (Mlb) of molybdenum and 16.5 million ounces (Moz) of silver across indicated and inferred categories, a resource scale that places Briggs firmly among Australia’s most significant undeveloped copper projects.
Drilling is targeting extensions to known mineralisation and areas of strong copper anomalism to the northwest of previous drilling, with further phases of drilling planned as the program advances.
The primary objectives of the program are to upgrade the majority of the inferred resource into the indicated category to support prefeasibility studies.
It will also test the depth extensions of known mineralisation where drilling to date indicates the system remains open and potentially higher grade and drill high-priority extensional targets with the potential to grow total contained copper.
“This drilling strategy aligns with the company’s broader technical workstreams, including metallurgy, environmental baseline studies, and early-stage engineering, which are being progressed in parallel as components of the PFS,” Mr Tabeart said.
ALM is steady at 1.2¢. Mkt cap $32.18M.
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