News Articles for Alma Metals

Alma Metals plans to soon begin a core-drilling program to upgrade and expand the copper-molybdenum resource at its flagship Briggs project that sits about 60km from the deep-water port of Gladstone in Queensland. In a vote of confidence for the project, newly-appointed contractor iDrilling will take $240,000 of its fees in Alma shares priced at 1.2c – a 33 per cent premium to the existing price.

Alma Metals has extended the higher-grade copper-molybdenum mineralisation strike at the Central Zone within its Briggs project in Queensland to about 500m, with new drill hits including 161m at 0.29 per cent copper and 71ppm moly from 22m. The intercept is part of a longer 242.4m zone beginning just 5.4m from surface and running 0.26 per cent copper and 60ppm moly.

Alma Metals has revealed a new 32.8m diamond drill hit of 0.78 per cent copper mineralisation across the contact between the granodiorite intrusion and enclosing volcanics at its Briggs project in Queensland. The hole tested the south-eastern margin of the Briggs Central resource zone and management says it further validates its concept of elevated copper grades in the near-surface zone straddling the two rock types.

Alma Metals has expanded the Briggs, Mannersley and Fig Tree Hill joint venture it shares with Canterbury Resources in central Queensland after grabbing two new exploration permits adjacent to the project. The JV ground includes the Briggs porphyry copper-molybdenum deposit that contains an inferred mineral resource of 415 million tonnes at 0.25 per cent copper and 31ppm molybdenum.

Two diamond-core holes drilled by Alma Metals into the central zone of its Briggs porphyry copper-molybdenum project in Central Queensland have defined thick mineralisation extending from surface through almost the full 200m hole depths. The company says its latest results further support the possibility for bringing to life its previous visions of a shallow, high-grade initial open pit.

Alma Metals has achieved the stage one earn-in requirements to reach an initial 30 per cent interest in Canterbury Resources Briggs, Mannersley and Fig Tree Hill joint venture copper project in Queensland. Alma has placed an exploration target of between 480m and 880m tonnes on Briggs alone, grading between .20 and .30 per cent copper and between 25 and 40ppm moly – and that's in addition to the existing resource.

Soil sampling by WA-based explorer Alma Metals at its Briggs project in Queensland has expanded its soil copper anomaly out to 2300m long and 1000m wide, with readings of more than 500 parts per million copper. Management says the work has allowed it to revise its target of 480 million tonnes to 880 million tonnes at between 0.20 per cent and 0.30 per cent copper.

Alma Metals was up 70 per cent after tabling a resource upgrade at its Briggs copper project in Queensland that smashed through the million-tonne contained copper mark and added molybdenum for the first time to the tune of 28.6m pounds. Alma says Briggs has now clawed its way into the top 10 largest undeveloped copper plays in Australia in terms of contained metal.

Alma Metals has expanded the reach of its Briggs copper project in Central Queensland, with its latest assays extending the known limits by more than 150m from the boundary of its current inferred resource. The company has revealed its latest drillhole produced a 366m intersection going 0.23 per cent copper and 28 parts per million molybdenum from just 6m.

Alma Metals has unveiled wide zones of copper-molybdenum sulphides mineralisation after its latest round of drilling targeted areas outside the current resource at its Briggs copper project in Central Queensland. Management says a significant resource upgrade is now on the cards as the latest results extended its known mineralisation area by 190m to the north-west and 100m to the north-east.

A change in strategy appears to be close to paying dividends for Alma Metals after it read the global energy tea leaves and shifted from African coal to instead zero in on a big Queensland copper find. The $13.25 million market-capped company is bearing down on a shallow porphyry deposit at its Briggs copper project, 50km west of Gladstone in Central Queensland.

Our board moves wrap includes Bill Fry, Dougal Ferguson, Daryl Henthorn, John Correia, Andrew Willis, and Hannah Field.

West Perth-based Caravel Minerals has been forced to call a general meeting to vote on the election of two new directors, who are part of a dissident group that had also wanted shareholders to vote on the removal of three existing board members.

African Energy Resources has announced that current managing director Frazer Tabeart will become an executive director of investor relations and business development, and Bill Fry becomes executive

Local junior miner African Energy Resources has entered into an agreement for the potential sale of its Mmamantswe coal project to a South African project developer for up to $US20 million ($A26 million).

West Perth-based junior miner African Energy Resources has farmed out a 51 per cent stake in its Sese coal and power project in Botswana to a Vancouver-based firm for $8 million.

Segue Resources has appointed Frazer Tabeart as a non-executive director, following the resignation of Matthew Foy, who will remain as company secretary.

African Energy Resources has appointed Wayne Trumble as a non-executive director.

West Perth-based junior African Energy Resources has announced plans to raise $4.5 million through a share placement and rights issue to advance its coal and power projects in Botswana.

Local players in the corporate finance market faced more competition than ever before from big national and international firms, WA Business News' 2011 survey has found.

African Energy Resources has raised $15 million through a 50 cents per share placement to accelerate development of its Sese coal project in Botswana.

West Perth-based mineral explorer Albidon Ltd will allow fellow West Perth company African Energy Resources Ltd to take a 30 per cent stake in two Zambian uranium projects for $1 million, the company has announced.

West Perth-based Energy Ventures Ltd subsidiary African Energy Resources (Guernsey) Ltd will raise $651,000 through the final tranche of aseed placement to investors of shareholder African Lion 2 Ltd.