Alma Metals (ASX:ALM) announces significant assay results

Alma Metals Limited (ASX:ALM) has reported further assay results from the Briggs Copper Project in Central Queensland, demonstrating wide intervals of higher copper grades from near surface. The recent drilling program has revealed promising results, including 159.3m @ 0.40% Cu and 21 ppm Mo from 8.1m, 96.4m @ 0.57% Cu and 19ppm Mo from 20.5m, and 68.0m @ 0.70% Cu and 19ppm Mo from 28m in hole 24BRD0028. These findings support the potential for defining a higher resource grade at Briggs, aligning with the company's strategy to enhance the overall resource grade. The drilling program, funded by a recent capital raising, is set to continue with a focus on better defining these higher-grade areas. The completion of the current drilling program will also meet the expenditure requirements to complete Stage 2 of the Earn-In under the Joint Venture Agreement with Canterbury Resources Ltd, potentially increasing Alma's interest to 51%.

Alma Metals Managing Director, Frazer Tabeart, on the recent assay results

Frazer Tabeart, Managing Director of Alma Metals, expressed satisfaction with the latest assay results, stating, '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. 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. With the continued support of our shareholders, we are now well positioned to extend follow-up drilling, targeting similar high-grade zones within and around the edges of the resource. This will further boost resource confidence and provide material for metallurgical testing as we advance the project.'

Summary of Alma Metals' ongoing drilling campaign at Briggs

Alma Metals' ongoing drilling campaign at the Briggs Copper Project has yielded promising assay results, indicating wide intervals of higher copper grades from near surface. The company's strategy to define a higher overall resource grade seems to be on track, with the potential for Briggs to develop into a substantial porphyry copper project. The completion of the current drilling program is expected to meet the expenditure requirements to complete Stage 2 of the Earn-In under the Joint Venture Agreement with Canterbury Resources Ltd, potentially increasing Alma's interest to 51%. The upcoming assay results and continued drilling activities are anticipated to provide further insights and material for metallurgical test-work, contributing to the Scoping Study for Briggs. The company's focus on testing and infill drilling aims to decrease spacing and potentially report Indicated Resources, supporting a Scoping Study later this year. With the ongoing exploration activities and positive assay results, Alma Metals remains optimistic about the future prospects of the Briggs Copper Project.