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The Briggs Copper Project has received a new Mineral Resource Estimate, comprising an Inferred Resource of 415Mt @ 0.25% Cu + 31 ppm Mo, containing approximately 1 million tonnes of copper metal and over 28.6 million lbs of molybdenum. This places Briggs among the top 10 largest undeveloped copper projects in Australia.
The estimate covers the Northern Porphyry and Briggs Central, which are still open in all directions, while extensive areas of significant copper-in-soils anomalism outside the estimation are yet to be drilled. The Southern Porphyry Target isn't included in the estimation.
Further drilling is set to resume in early Q3 2023, with a focus on extending the mineralization and a more detailed assessment of multiple higher-grade zones. The Mineral Resource Estimate is likely to significantly increase with further drilling.
The final assays from the recent core drilling program at the Briggs Copper Project in Central Queensland have extended areas of copper-molybdenum sulphide mineralisation, with the drill hole 23BRD0016 extending the known limits by over 150m to the north-east.
Intersections containing >0.2% Cu have now been found over more than a 1,650m strike-length within the ~2,000m long geochemical anomaly, aiding in an updated Mineral Resource Estimate to be published soon.
Alma Metals Limited, who fund the exploration at Briggs under an Earn-In Joint Venture agreement, will resume drilling in early Q3 2023 to target further extensions of the deposit and to assess multiple higher-grade zones in more detail.