Alma (ASX:ALM) go higher and thick at Briggs
November 22, 2023As drilling continues over its Briggs Copper Project in Central Queensland, assays from two holes have come home and confirmed thick, outcropping zones of higher-grade copper-molybdenum mineralisation for Alma Metals.
The zones were found straddling the contact between the granodiorite intrusion and enclosing volcanic sediments, with both holes starting at surface and ending in the mineralisation intersected across the entire length outside of some minor post mineral intrusions.
The ongoing drilling also confirmed continuity between the project’s Inferred Resources at the Northern Porphyry and Briggs Central as Alma look toward mineralisation which can be accessed in a higher-grade starter pit.
And the explorer appears to have found it in multiple thick zones of coherent mineralisation of higher-grade copper over 0.3 per cent and significantly higher levels molybdenum over a 415Mt at 0.25% Cu and 31ppm Mo Inferred Resource featured at the Briggs deposit.
Alma is confident an even larger resource surrounds Briggs and has set an expansive 80-880Mt @ 0.20% to 0.30% Cu and 25 to 40ppm Mo Exploration Target while testing for higher-grade zones.
Drilling will continue until mid-December, with more to come in the new year directed at upgrading the resource confidence to back in a scoping study and the roadmap to mining.
The looming closure of Mt Isa copper production rocked the Sunshine State, but there appears to be a lot of Queensland copper to be found, and Alma appears to be well on the trail.
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