Alma Metals Limited provided assay results from the first hole of the current drilling program at the Briggs Copper Project in Queensland. Exploration at Briggs is being funded by Alma under an Earn-In Joint Venture agreement where Alma can earn up to a 70% joint venture interest from owner Canterbury Resources Limited via a staged earn-in. The Project includes the Briggs Central copper deposit, where an Inferred Mineral Resource of 143Mt at 0.29% Cu has been defined.

The current program is testing Exploration Targets outlined at the adjoining Northern and Central Porphyry areas. Drill hole 22BRD0013 was collared to test the southern part of the Northern Porphyry Exploration Target. 22BRD0013 intersected volcanic sediments and tuffs intruded by fine grained granodiorites forming dykes and stocks.

Assay results: All rocks in 22BRD0013 contain mm- to cm-scale porphyry-style quartz veins and are variably mineralized throughout with copper and iron sulphides. Drilling of the second hole (22BRD0014) to test the Northern Porphyry target 150m to the north of 22BRD0013 is well advanced, with the current hole depth approximately 386m. This hole has also intersected porphyritic intrusive rocks hosted by volcanic sediments, again with persistent mm-to cm-scale quartz veins with variable amounts of copper and iron sulphides.

This hole is expected to be completed within a week, following which the rig will move to commence drilling up to four holes at the Briggs Central porphyry.