Alma Metals (ASX: ALM) managing director Frazer Tabeart stands out as a copper play amongst the goldies in conversation with Wally Graham on Day Two of the 2025 RIU Sydney Resources Roundup.
THE DRILL SERGEANT: Alma Metals (ASX: ALM) reported a revised Mineral Resource Estimate (MRE) for the company’s Briggs copper project in Queensland.
Alma Metals’ updated MRE for the Briggs project now includes both Indicated and Inferred Resource categories, and for the first time includes silver as a by-product:
INDICATED RESOURCE: 110 million tonnes at 0.27 per cent copper, 39ppm molybdenum, 0.7 grams per tonne silver (0.2% Cu cut-off)
INFERRED RESOURCE: 329 million tonnes at 0.24 per cent copper, 34ppm molybdenum, 0.6g/t silver (0.2% Cu cut-off)
TOTAL RESOURCE: 439 million tonnes at 0.25 per cent copper, 36ppm molybdenum, 0.7g/t silver (0.2% Cu cut-off)
“This updated Mineral Resource Estimate marks another important milestone for Briggs and continues to highlight the scale and robustness of the deposit,” Alma Metals managing director Frazer Tabeart said in the company’s ASX announcement.
“Not only have we defined a substantial volume of Indicated Resource, but this material sits at surface, is higher grade than the deeper mineralisation and is likely to be prioritised in the early stages of any future mining operation.
“Importantly, the block model indicates that coherent zones within the Indicated Resource are higher grade again, which could significantly enhance project economics during the initial stages of potential mining.
“We believe there’s also clear potential to convert more Inferred to Indicated Resources with further infill drilling and extensive undrilled copper-in-soil anomalies beyond the current resource footprint provide additional avenues for growth.
“This model will now form the foundation for developing a potential mining schedule as part of the Scoping Study, the first true economic evaluation of this highly significant project.
“In the context of rising copper prices, ongoing geopolitical uncertainty and more specifically the impending potential closure of the Mt Isa copper smelter, the scale, quality and secure location of Briggs couldn’t be more timely.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
