Aldebaran Announces Commencement of Drilling at Its Altar Copper-Gold Project
February 02 2021 - 6:00AM
Aldebaran Resources Inc.
("
Aldebaran" or the "
Company")
(TSX-V: ALDE) is pleased to announce the
commencement of the 2021 drill program at its flagship Altar
copper-gold project located in San Juan Province, Argentina. In
addition, the Company is pleased to provide an overview of the many
exploration targets identified to date. The drill program will
focus on testing several of the higher priority targets from the
group of new targets generated as part of the extensive data
collection and data modeling exercise recently completed (see Dec
3, 2020 and Jan 19, 2021 press releases). The objectives of the
2021 drill program are to: (a) test extensions to zones of
higher-grade mineralization, and (b) test areas within specific
structural blocks identified during the relogging and geological
modeling process as having a high potential to extend the footprint
of the known mineralization. As well, the Company is working on
completing a 3D IP-MT geophysical survey concurrent with the drill
program that should help identify new areas for drill testing in
the future.
The Company will not be able to drill test all
the targets listed below in 2021 as the summer field season at the
Altar project is limited in length and there could be delays due to
Covid-19 protocols. In addition, some of the targets will require
the 3D IP-MT geophysical survey to be completed to better design
optimal locations for drill holes. Drilling is commencing with two
drill rigs, with the potential to add additional rigs during the
season. The main target areas are shown in Figure 1.
John E. Black, Chief Executive Officer
of Aldebaran, commented as follows: “We are excited
to commence the 2021 drill campaign at the Altar copper-gold
project. After a period of collecting and aggregating data, we are
now ready to drill test some very promising targets that we believe
will help us expand the mineralized footprint at Altar. Our current
priorities are to focus on extending the higher-grade cores that
have been identified in the geological modelling process and search
for new zones that could add to resources. When we picked this
project up in 2018, we knew there was already a large mineralized
system defined, however it was the exploration potential that got
us excited. We now have a much better understanding of the overall
system and the controls on mineralization, which should aid us as
we begin to test for exploration upside at Altar. In conjunction
with this drill program, we are currently working on an updated
mineral resource estimate which we expect to deliver by the end of
the first quarter.”
Discussion of Target Areas
Figure 1 highlights the main target areas identified to
date.
To view Figure
1 visit https://www.globenewswire.com/NewsRoom/AttachmentNg/2a808210-71e4-4abc-b7bd-9cdc2063dc1f
QDM – Radio Porphyry Area
- Radio East: The Radio East target
is designed to test the eastern extension of one of the
highest-grade intercepts found on the property to date in
QDM-17-034 (see table below). This intercept, found in the Radio
porphyry centre, was associated with a porphyry dyke which was not
geologically the same as the Radio porphyry, indicating this
high-grade porphyry dyke potentially came from a different porphyry
centre which the Company believes may be in the Radio East area. In
addition, a large area of sericite-clay alteration with local zones
of native sulphur and copper oxides occurs in Radio East, which is
typical of the upper portion of a porphyry-epithermal system. This
target requires additional field mapping and 3D IP-MT geophysical
data before drilling commences.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
QDM-17-034 |
634 |
1,006 |
372 |
0.94 |
0.59 |
0.46 |
3.60 |
6.00 |
Including |
840 |
918 |
78 |
2.06 |
1.23 |
1.12 |
7.60 |
4.00 |
- QDM West: The QDM West target is
designed to test the western extension of the newly discovered QDM
porphyry centre that was encountered in drill hole QDM-19-041 (see
intercept in table below and Oct 3, 2019 press release). This
discovery hole intercepted an upper gold-rich zone starting at
surface and below that, an additional zone of porphyry-style
mineralization. The style of alteration and mineralization is
different from that encountered further to the east within the
Radio porphyry area; hence it is believed to be a separate
mineralized porphyry centre. The higher-grade Mo also suggests that
hole AK-19-041 may have drilled down a shoulder/flank of a
molybdenum shell which typically form around porphyry copper
systems.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
QDM-19-041 |
0 |
194 |
194 |
0.59 |
0.08 |
0.74 |
1.10 |
3 |
QDM-19-041 |
737 |
1,526 |
789 |
0.52 |
0.41 |
0.09 |
1.00 |
126 |
- Radio South: The Radio South target
is designed to test the southern extension to mineralization found
in QDM-17-037 (see table below). Mineralization at the Radio
porphyry appears to be associated with strong secondary k-feldspar
+ magnetite alteration which produces a pronounced magnetic high in
the 3D Mag Inversion data. The most pronounced part of this
magnetic high feature remains untested, which is the objective of
testing this target area.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
QDM-17-037 |
190 |
734 |
544 |
0.54 |
0.41 |
0.17 |
1.60 |
14 |
Including |
334 |
672 |
338 |
0.64 |
0.48 |
0.22 |
1.90 |
9 |
- QDM South: The QDM South target is a large area of hornfelsed
andesites and predominately quartz - sericite ± pyrite ± tourmaline
± hematite alteration, which is similar in character to the upper
portions of the Altar Central and Altar East porphyry centres. The
target area is also highlighted by a multi-element anomaly in the
talus fine geochemical survey data with a central area of elevated
Au, Cu, Mo, Ag, S, As, Sb, Bi, Se, and Te and depleted Li and Mn,
surrounded by an outer ring of elevated Pb, Zn, In and W.
Altar Central Area
- Altar Central – West Extension: The
Altar Central West Extension target is designed to test for the
western extension to higher-grade mineralization that is currently
open to the west of drill holes ALD-07-019 and ALD-08-049 (see
table below for intercepts). These are some of the best intercepts
drilled at Altar Central and they remain open to the west, hence
providing an opportunity to extend higher-grade mineralization and
resources to the west.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo (ppm) |
ALD-07-019 |
100 |
953 |
853 |
0.65 |
0.59 |
0.07 |
1.00 |
|
Including |
102 |
156 |
54 |
1.01 |
0.93 |
0.11 |
0.40 |
|
And |
334 |
470 |
136 |
0.60 |
0.52 |
0.11 |
0.90 |
|
And |
730 |
953 |
223 |
0.79 |
0.75 |
0.03 |
1.20 |
22 |
ALD-08-049 |
132 |
951.6 |
819.6 |
0.70 |
0.62 |
0.10 |
1.00 |
8 |
Including |
138 |
234 |
96 |
0.82 |
0.75 |
0.09 |
1.20 |
2 |
And |
264 |
616 |
352 |
0.90 |
0.78 |
0.17 |
0.90 |
4 |
- Altar Central – North Extension:
The Altar Central North Extension target is designed to test for a
northern extension to higher-grade mineralization that is currently
open to the north of drill hole ALD-19-212, which intersected an
upper zone of supergene secondary sulphide mineralization with
attractive grades and a lower zone of porphyry mineralization that
included several higher-grade intervals (see table below). In
addition, three drill holes ALD-07-016, ALD-07-025, and ALD-08-058,
drilled along an east-west fence line, were all shallow holes that
terminated in mineralization, indicating potential to extend
mineralization below those holes.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
ALD-19-212 |
72 |
152 |
80 |
1.09 |
0.99 |
0.11 |
2.30 |
8 |
ALD-19-212 |
237.5 |
1,379 |
1,141.5 |
0.53 |
0.47 |
0.04 |
1.10 |
75 |
Including |
237.5 |
317 |
79.5 |
1.00 |
0.88 |
0.15 |
1.70 |
12 |
And |
561 |
601 |
40 |
0.76 |
0.68 |
0.10 |
0.70 |
16 |
And |
749 |
895 |
146 |
0.66 |
0.61 |
0.03 |
0.90 |
41 |
And |
995 |
1,165 |
170 |
0.77 |
0.71 |
0.02 |
1.70 |
126 |
ALD-07-016 |
88 |
435 |
347 |
0.57 |
0.51 |
0.06 |
1.80 |
|
ALD-07-025 |
118 |
314 |
196 |
0.48 |
0.41 |
0.10 |
1.40 |
|
ALD-07-025 |
348 |
500 |
152 |
0.35 |
0.31 |
0.05 |
0.80 |
|
ALD-08-058 |
56 |
440 |
384 |
0.53 |
0.46 |
0.08 |
1.40 |
|
- Altar Central – Southeast
Extension: The Altar Central Southeast Extension is a target
designed to test for a southern extension of higher-grade
mineralization that is currently open to the south of drill holes
ALD-10-069, ALD-10-079, and ALD-11-151 (see table below). These
better-grade intercepts drilled at Altar Central remain open to the
southeast, hence providing an opportunity to extend higher-grade
mineralization and resource to the southeast.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
ALD-10-069 |
272 |
757.6 |
485.6 |
0.53 |
0.48 |
0.04 |
0.90 |
38 |
ALD-10-079 |
320 |
934.6 |
614.6 |
0.54 |
0.48 |
0.04 |
1.30 |
39 |
Including |
534 |
718 |
184 |
0.64 |
0.58 |
0.05 |
1.60 |
47 |
ALD-11-151 |
216 |
407 |
191 |
0.48 |
0.38 |
0.13 |
0.80 |
25 |
Altar East Area
- Altar East – North Extension: The
Altar East North Extension target is designed to test for a
northern extension to higher-grade mineralization found in drill
holes ALD-12-153, ALD-11-150, and ALD-12-179 (see table below).
These better-grade intercepts drilled at Altar East remain open to
the north; hence providing an opportunity to extend higher-grade
mineralization and resource to the north into an area of extensive
alteration on surface.
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
ALD-11-150 |
12 |
548 |
236 |
0.52 |
0.39 |
0.17 |
1.50 |
13.00 |
ALD-12-153 |
78 |
964.5 |
886.5 |
0.57 |
0.46 |
0.14 |
0.90 |
14.00 |
Including |
174 |
572 |
398 |
0.69 |
0.54 |
0.19 |
1.20 |
11.00 |
And |
672 |
740 |
68 |
0.73 |
0.60 |
0.18 |
0.90 |
20.00 |
And |
758 |
856 |
98 |
0.69 |
0.59 |
0.14 |
0.80 |
15.00 |
ALD-12-179 |
290 |
1,166.5 |
876.5 |
0.54 |
0.44 |
0.11 |
1.40 |
20 |
Including |
592 |
934 |
342 |
0.63 |
0.51 |
0.15 |
1.50 |
21 |
And |
950 |
1,118 |
168 |
0.64 |
0.56 |
0.10 |
1.20 |
14 |
- Block 26: Block 26 is a target area
within structural fault block 26 and beneath several shallow drill
holes that exhibit strong quartz stockwork veining and elevated
gold. This structural block appears to be the northwestern
extension to the main Altar East mineralization, however most of
the historical drill holes, ALD-13-199, ALD-06-004, and ALD-12-187,
were of shallow depth (see table below).
|
From(m) |
To(m) |
Length(m) |
CuEq(%)1 |
Cu(%) |
Au(g/t) |
Ag(g/t) |
Mo(ppm) |
ALD-13-199 |
326 |
490 |
164 |
0.50 |
0.41 |
0.10 |
1.80 |
6 |
ALD-06-004 |
266 |
380 |
114 |
0.43 |
0.28 |
0.21 |
0.50 |
17 |
ALD-06-004 |
414 |
498 |
84 |
0.41 |
0.32 |
0.11 |
0.60 |
19 |
ALD-12-187 |
204 |
521 |
317 |
0.51 |
0.44 |
0.10 |
0.60 |
9 |
Note to accompany tables above:
- CuEq calculated using US$3/lb Cu, US$1,400/oz Au, US$18/oz Ag
and US$10/lb Mo. Recoveries not used in CuEq calculation.
Qualified Person
The scientific and technical data contained in
this news release has been reviewed and approved by Dr. Kevin B.
Heather, B.Sc. (Hons), M.Sc, Ph.D, FAusIMM, Chief Geological
Officer (CGO) and director of Aldebaran, who serves as the
qualified person (QP) under the definitions of National Instrument
43-101.
ON BEHALF OF THE ALDEBARAN BOARD
“John
Black”
John BlackChief Executive Officer and Director
For further information, please consult our website
at www.aldebaranresources.com or
contact:
Laura BrangwinInvestor Relations ManagerPhone: +1 646 583-1404
Email: laura.brangwin@aldebaranresources.com
About Aldebaran Resources
Inc.
Aldebaran is a mineral exploration company that
was spun out of Regulus Resources Inc. in 2018 and has the same
core management team. Aldebaran acquired the Rio Grande copper-gold
project located in Salta Province, Argentina from Regulus along
with several other early-stage projects in Argentina. Aldebaran
also has the right to earn up to an 80% interest in the Altar
copper-gold project in San Juan Province, Argentina from Sibanye
Stillwater. Altar hosts a large porphyry copper-gold system with
mineralization currently defined in three distinct zones. The Altar
project forms part of a cluster of world-class porphyry copper
deposits which includes Los Pelambres (Antofagasta Minerals), El
Pachon (Glencore), and Los Azules (McEwen Mining). A total of 259
drill holes (124,701 m) have been completed at Altar between 1995
and 2019. In mid-2018 an updated NI 43-101 resource was prepared
for Altar by Independent Mining Consultants Inc. based on the
drilling completed up to 2017. The updated Altar NI 43-101 report
is available on Aldebaran's SEDAR profile at www.sedar.com.
Aldebaran’s primary focus is the Altar project with a view to
discovering new zones with higher-grade mineralization.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements regarding Aldebaran,
including management's assessment of future plans and operations,
may constitute forward-looking statements under applicable
securities laws and necessarily involve known and unknown risks and
uncertainties, most of which are beyond Aldebaran's control. Often,
but not always, forward-looking statements or information can be
identified using words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate" or
"believes" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all
statements included in this press release that address activities,
events or developments that Aldebaran expects or anticipates will
or may occur in the future, including the proposed exploration and
development of the Altar project described herein, and management's
assessment of future plans and operations and statements with
respect to the completion of the anticipated exploration and
development programs, may constitute forward-looking statements
under applicable securities laws and necessarily involve known and
unknown risks and uncertainties, most of which are beyond
Aldebaran's control. These risks may cause actual financial and
operating results, performance, levels of activity and achievements
to differ materially from those expressed in, or implied by, such
forward-looking statements. Although Aldebaran believes that the
expectations represented in such forward-looking statements are
reasonable, there can be no assurance that such expectations will
prove to be correct. The forward-looking statements contained in
this press release are made as of the date hereof and Aldebaran
does not undertake any obligation to publicly update or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities law.
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