Overview of Alma Metals' latest announcement

Alma Metals Limited (ASX: $ALM) has released the final assay results from the 2023 core drilling program at the Briggs Copper Project in Central Queensland. The results reaffirm the presence of shallow, higher-grade copper-molybdenum mineralisation straddling the contact zone between the granodiorite intrusion and enclosing volcanic sediments. The company, with a 30% JV interest, can earn up to a 70% interest from owner Canterbury Resources Limited (ASX: $CBY) via a staged earn-in.

Executive commentary on the latest results

The drilling program at the Briggs Copper Project has been highly successful, with the final assays extending the known strike length of higher-grade mineralisation along the eastern contact zone of the Briggs Central deposit to approximately 500m. These results also highlight a potential continuation of the higher-grade contact zone along the entire south-western margin of the intrusion, covering more than 600m strike-length. Further drilling is planned to evaluate the intrusive contact zone, targeting an upgrade in resource confidence sufficient to support a scoping study later this year.

Summary of Alma Metals' announcement

Alma Metals' final assay results from the 2023 core drilling program at the Briggs Copper Project have confirmed the presence of shallow, higher-grade copper-molybdenum mineralisation. The company plans to commence further drilling in early Q2, 2024, with the aim of upgrading resource confidence to support a scoping study later in the year. The results also indicate the potential of the Southern Porphyry Target, which has yet to be adequately drill tested and may provide a significant increase in the overall size of the resource. The announcement reflects the company's commitment to advancing its exploration activities and enhancing the understanding of the mineral potential at the Briggs Copper Project.