Alma Metals Secures AU$1.77 million for Briggs Deposit Drilling

Alma Metals Ltd (ASX: ALM) has successfully secured AU$1.77 million through a share placement to fund additional drilling at the Briggs copper deposit in Queensland. The funding, priced at 0.8 cents per share, includes significant director participation, pending shareholder approval. The initiative aims to enhance the exploration and understanding of the deposit, focusing on extending the inferred mineral resource and investigating higher-grade zones.

Alongside the placement, Alma is introducing a Share Purchase Plan for eligible shareholders, targeting an additional AU$1 million. This financial infusion is primarily allocated to core drilling activities scheduled for Q2 2024, aiming to improve the deposit's resource categorization and facilitate metallurgical testing for upcoming scoping studies.

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