Aldebaran Resources Inc. (“
Aldebaran” or the
“
Company”)
(TSX-V: ALDE, OTCQX:
ADBRF) is pleased to report results from drill holes
ALD-22-220 and ALD-22-221. The goal of both holes was to test for
extensions of mineralization of the Altar Central and Altar East
deposits. Hole ALD-22-220 tested for a south-western extension of
Altar Central, while ALD-22-221 tested for mineralization in
between Altar Central and Altar East in an area previously not
drilled. In addition, ALD-22-221 also tested the northern edge of
the very large 3D IP/MT geophysical anomaly recently reported by
the Company (see news release dated June 13, 2022) however, the
hole was started before the final geophysical data was received so
it did not test the centre of the anomaly. Both holes successfully
intercepted mineralization; ALD-22-221 intercepted a long run of
mineralization indicating that the geophysical anomaly correlates
well with mineralization, which opens a very large new area for
additional exploration.
Highlights
ALD-22-221
- 64.00 m of 0.38% CuEq from 22 m
depth
- 1,059.50 m of 0.40% CuEq from 228 m
depth
- Including 50.00m of 0.72% CuEq from
660 m depth
- And 95.05m of 0.64% CuEq from 832 m
depth
- Hole ALD-22-221 tested the northern
edge of a very large 3D IP/MT geophysical anomaly; the results of
this hole indicate that the geophysics correlate well with known
mineralization (see Figure 3)
- The hole ended in
mineralization
ALD-22-220
- 284.00 m of 0.41% CuEq from 462 m
depth
- Including 100.00 m of 0.55% CuEq
from 462 m depth
- 135.00 m of 0.23% CuEq from 809 m
depth
John Black, Chief Executive Officer of
Aldebaran, commented as follows: “Hole 221 is very
encouraging as it returned over a kilometer of mineralization in an
area previously thought to be barren. Also, this hole provides a
strong proof of concept that the 3D IP/MT geophysical targets
correlate well with mineralization. Although this hole was started
prior to receiving the geophysical data and didn’t centre punch the
anomaly, it still provides confidence that where we drill the
geophysical anomaly, we are likely to hit mineralization. Based on
the size of the anomaly, this deposit has the potential to become
much larger. Hole 220 also successfully expanded the footprint of
Altar Central to the southwest and will require additional drilling
to test the full extent of the mineralization. We look forward to
getting back on site in the second half of 2022 to start drilling
this sizeable geophysical anomaly from more strategic
locations.”
Dr. Kevin B. Heather, Chief Geological
Officer of Aldebaran, commented as follows: “Drill
holes 220 and 221 confirm our long-held belief that the Altar
system is much bigger than previously thought. The new 3D IP/MT
geophysical anomaly correlates extremely well with the known
mineralization that makes up the 2021 in-pit resource at both Altar
Central and Altar East and also with mineralized drill holes that
extend below and laterally away from that conceptual pit resource.
Of particular interest, mineralization in 221 is hosted entirely
within both favourable and historically less favourable wall rock
units, suggesting the mineralizing source is nearby. Altar has the
potential to become extremely large and we look forward to drilling
additional holes into the untested portions of the geophysical
anomaly.”
Table 1 below displays detailed assays results.
Figure 1 displays a plan map with the location of the reported
drill holes, and Figures 2, 3 and 4 display cross sections of the
results of the holes reported herein.
Table 1 – 2022 Altar Drill Hole Results |
Au (g/t)Cut-off |
From(m) |
To(m) |
Interval(m) |
Cu(%) |
Au (g/t) |
Ag(g/t) |
Mo(ppm) |
As(ppm) |
CuEq (%) |
ALD-22-221 |
|
|
|
|
|
|
|
|
|
Interval |
22.00 |
86.00 |
64.00 |
0.32 |
0.04 |
0.47 |
22 |
71 |
0.38 |
Interval |
228.00 |
1,287.50 |
1,059.50 |
0.33 |
0.02 |
2.10 |
107 |
358 |
0.40 |
incl |
660.00 |
710.00 |
50.00 |
0.62 |
0.05 |
3.32 |
96 |
1,192 |
0.72 |
and |
832.00 |
927.05 |
95.05 |
0.56 |
0.04 |
2.87 |
97 |
292 |
0.64 |
ALD-22-220 |
|
|
|
|
|
|
|
|
|
Interval |
462.00 |
746.00 |
284.00 |
0.35 |
0.06 |
0.82 |
33 |
124 |
0.41 |
incl |
462.00 |
562.00 |
100.00 |
0.50 |
0.05 |
1.14 |
41 |
169 |
0.55 |
Interval |
809.00 |
944.00 |
135.00 |
0.21 |
0.02 |
0.61 |
32 |
235 |
0.23 |
The grades are uncut. CuEq values were calculated using copper,
gold, silver and molybdenum. Metal prices utilized for the
calculations are Cu = US$3.00/lb, Au = US$1,400/oz, Ag = US$18/oz,
and Mo = US$10/lb. No adjustments were made for recovery as the
project is an early-stage exploration project and metallurgical
data to allow for estimation of recoveries is not yet available.
The formulas utilized to calculate equivalent values is CuEq
% = Cu % + Au g/t * 0.6805 + Ag g/t * 0.00875 + Mo ppm /
3000. |
Discussion of Results:
ALD-22-220
Drillhole ALD-22-220 was drilled at -70 degree
dip and an azimuth of 50 degrees to a final depth of 1,186.50 m.
The purpose of the hole was to test for the extension of
mineralization with a strong, multi-element geochemical anomaly
with a NW-SE trend related to the Altar Central porphyry center.
The hole intersected a mixed sequence of massive to fragmental
andesitic volcanic rocks and, from 0 to 155 m depth and from 155 m
to 480 m depth, a thick sequence of massive to fragmental rhyolitic
volcanic rocks with possible crosscutting hypabyssal rhyolitic
porphyry intrusions. From 480 m to 770 m, the hole once again
encountered a mixed sequence of massive to fragmental andesitic
volcanic rocks before entering a heterolithic magmatic-hydrothermal
breccia from 770 m to 814 m. From 814 m until the end of the hole
(1,186.50 m), the hole continued in the mixed sequence of massive
to fragmental andesitic volcanic rocks.
This drillhole encountered strong
epidote-chlorite-magnetite-hematite-pyrite alteration (i.e.,
propylitic assemblage) over the upper 155 m before entering a long
run of strong sericite-pyrite-tourmaline-quartz-chalcopyrite
alteration, associated with the occurrence of moderate copper
mineralization. Starting at 815 m depth until the end of the hole,
ALD-22-220 intersected moderate
biotite-magnetite-potassium-feldspar alteration associated with
weak quartz veining containing chalcopyrite and molybdenite. The
alteration and mineralization encountered in this drill hole
suggest that we have drilled into the outer portion of the system
in the upper portion of the hole and progressively drilled back in
towards the central portion of the Altar Central system.
ALD-22-221
Drillhole ALD-22-221 was drilled at a -80
degrees dip and an azimuth of 265 degrees to a final depth of
1487.50 m. The hole was drilled into a previously untested area
located in between the known mineralization at Altar Central and
Altar East. The only hole within a 200 m radius is ALD-07-024,
which was drilled only to 445.8 m depth. Hole ALD-22-221 was
collared and started before the receipt of the final 3D IP/MT
geophysical survey results however, the hole does test the northern
margin of a very large (4 km x 3.5 km x 2 km), coincident
DCIP-Resistivity and 3DMT-Resistivity, conductive anomaly. Hole
ALD-22-221 cut through a quartz diorite intrusion with strong
stockwork quartz veining from surface to 302 m depth, before
passing into a thick sequence of massive porphyritic and fragmental
rhyolites to a depth of 674 m. From 674 m to 973 m, the hole
encountered a sequence of massive to fragmental andesitic volcanic
rocks and then, from 973 m until 1,181 m, a massive porphyritic
rhyolite unit. From 1,181 m until the end of the hole at a depth of
1,487.50 m, the hole encountered the andesitic volcanic rocks
again. The fragmental rhyolites are interpreted to be part of the
regional ~20 Ma aged volcanic stratigraphy, whereas some of the
porphyritic rhyolites may be cross-cutting intrusive dykes related
to a younger mineralizing porphyry event, but further geological
work, along with Re-Os molybdenite and U-Pb zircon age-dating, is
being done to address this as part of an ongoing doctoral research
study being completed on the project.
Drillhole ALD-22-221 encountered a strongly
oxidized and leached zone to 240 m depth, followed by a ~85 m thick
horizon of moderately developed secondary copper sulphide
enrichment consisting of chalcocite on pyrite. This zone of
enrichment is in an area within the 2021 conceptual pit shell, that
is currently classified as waste material; hence this and any
follow-up drilling will add to the currently known secondary copper
resource. Hole ALD-22-221 also shows a strong lithological control
on both favourable alteration and the better mineralization.
The rhyolite intervals display strong (a) quartz
– sericite – pyrite - chalcopyrite, (b) quartz – tourmaline -
pyrite, and (c) quartz – pyrite - enargite assemblages with low to
moderate copper values and elevated arsenic contents. Historically
the rhyolitic rocks at the Altar project have been poor and
somewhat unreceptive host rocks for mineralization however,
moderately mineralized rhyolites in hole ALD-22-221 suggest that
the system is getting stronger such that even these less favourable
host rocks are being mineralized, whereas the andesitic rocks
display moderate to strong biotite and potassium-feldspar (i.e.,
potassic alteration) that increases towards the bottom of the hole.
This potassic alteration is overprinted by an assemblage of
moderate intensity green sericite-pyrite-chalcopyrite ± bornite
which are associated to moderate and continuous copper grades with
low arsenic contents. The entire hole is strongly anomalous in
molybdenum, increasing considerably from 530 m depth with the
occurrence of quartz-chalcopyrite-molybdenite veins and becoming
very strong over the last 500 m of the drill hole.
Webinar
For more context, please join CEO John Black and
Chief Geological Office Dr. Kevin B. Heather in a live
event on August 22nd at 2 pm EST / 11 am PST. Q&A will
follow the brief presentation. Click here to register :
https://6ix.com/event/aldebaran-confirms-coincidence-of-mineralization-and-geophysical-anomaly-at-altar-copper-gold-project/
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, FGS, Chief Geological
Officer and director of Aldebaran, who serves as the qualified
person (QP) under the definitions of National Instrument
43-101.
For further information, please consult
our website at
www.aldebaranresources.com or
contact:
Ben CherringtonManager, Investor RelationsPhone:
+1 347 394-2728 or +44 7538 244 208Email:
ben.cherrington@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 Limited. The Altar project hosts multiple porphyry
copper-gold deposits with potential for additional discoveries.
Altar forms part of a cluster of world-class porphyry copper
deposits which includes Los Pelambres (Antofagasta Minerals), El
Pachón (Glencore), and Los Azules (McEwen Copper). In March 2021
the Company announced an updated mineral resource estimate for
Altar, prepared by Independent Mining Consultants Inc. and based on
the drilling completed up to and including 2020. Aldebaran’s
primary focus is the Altar project with a view to discovering new
zones with higher-grade mineralization.
Sampling and Analytical Procedures
Altar follows systematic and rigorous sampling
and analytical protocols which meet and exceed industry standards.
These protocols are summarized below and are available on the
Aldebaran website at www.aldebaranresources.com.
All drill holes are diamond core holes with PQ,
HQ or NQ core diameters. Drill core is collected at the drill site
where recovery and RQD (Rock Quality Designation) measurements are
taken before the core is boxed and transported to the Altar camp
facilities, a short distance away, where the whole core is
photographed under more optimum lighting conditions and geological
quick log is produced. The whole-core is then marked and sampled
into geological defined, systematic 1- to 2-metre sample intervals,
unless the geologist determines the presence of an important
geological contact, which should not be crossed. The whole-core is
then cut-in-half with a diamond saw blade, with half the sample
retained in the core box for future reference and the other half
placed into a pre-labelled plastic bag, sealed with a two plastic
security zip ties, and labeled with a unique sample number. The
bagged samples are then placed into larger plastic sacks and those
sacks are sealed with another plastic security zip tie and labelled
for shipment. The sacks are then placed onto wooden pallets and
wrapped in plastic shrink-wrap and stored in a secure area pending
shipment to a certified ALS laboratory sample preparation facility
located in Mendoza, Argentina, where the samples are dried,
crushed, and pulverized. The resulting sample pulps are sent by
batch to the ALS laboratory in Lima for geochemical assay analysis,
including a 30g fire assay with an atomic absorption (AA) finish
analysis for gold and a full multi-acid digestion (4-acid) with
ICP-AES analysis for other elements. Samples with results that
exceed maximum detection values for gold are re-analyzed by fire
assay with a gravimetric finish and other elements of interest are
re-analyzed using precise ore-grade ICP analytical techniques.
Aldebaran independently inserts certified control standards Super
Certified Reference Materials (SCRM’s), coarse field blanks, and
duplicates into the sample stream to monitor data quality. These
standards are inserted “blindly” to the laboratory in the sample
sequence prior to departure from the Aldebaran facilities.
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 by the use of 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.
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.
Figure 1 – Plan map showing drill collar
locations: https://www.globenewswire.com/NewsRoom/AttachmentNg/bca5c08b-0a3c-451b-b675-fc1025880b40
Figure 2 – Section displaying ALD-22-221
in relation to the 2021 conceptual resource pit and nearby
drilling: https://www.globenewswire.com/NewsRoom/AttachmentNg/feebffb8-70b9-4aa9-b387-782cecf9b3f8
Figure 3 – Section displaying ALD-22-221
in relation to the 3D MT Inversion resistivity geophysical
anomaly: https://www.globenewswire.com/NewsRoom/AttachmentNg/0d1ad4ae-59c0-4196-b067-0a1f03fffabb
Figure 4 – Section displaying ALD-22-220
and ALD-22-221 in relation to the 221 conceptual resource pit and
nearby
drilling: https://www.globenewswire.com/NewsRoom/AttachmentNg/2091bbe7-b234-44d5-95b7-9474f952b6b4
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