Research Report – 708 Capital

Alma Metals — Thu, 05 Sep 2024 05:41:49 +0000

Alma Metals Research Report

Alma cracks high-grade with 49m @ 1% (from 3m) within 276m at @ 0.45% from surface in latest drilling results.

Alma Research Report from 708 Capital shows Briggs’ economic viability against global and domestic peers in development and production.

The report clearly demonstrates that lower-grade, long-life projects are economically viable.
Alma’s Briggs project has several critical advantages over its development-stage peers.
Highest-grade results to-date commence from surface and demonstrate potential for high-grade starter pit or heap-leach operation.
Continuous and consistent ore grade mineralisation demonstrates very low strip-ratio.
Requires no pre-production strip.
Close to existing infrastructure incl: low-cost electricity, water, port, road and rail access.
Excellent metallurgical recoveries (95%) from initial test work.

Latest Drilling Results demonstrate high-grade oxide mineralisation from surface

1^st hole of ongoing 6-hole diamond program shows high-grade potential of Briggs existing 415Mt at 0.25% Copper resource.
Near-surface oxide results demonstrate potential for higher-grade starter pit or significantly lower capex heap-leach start-up operation.
Current drill program to support upgrade of current resource and commencement of scoping study in Q4, 2024.
Drilling success follows on from 2023 diamond program resulting in similar high-grade oxide results of 49m @ 0.59% (hole 21).