Aldebaran Resources Inc.
(“
Aldebaran” or the “
Company”)
(TSX-V: ALDE, OTCQX: ADBRF) is pleased to report
additional results from two holes at its ongoing drilling campaign
at the Altar copper-gold project in San Juan Province, Argentina.
Hole ALD-23-224 was drilled in an area with
limited previous drilling and was designed to test a coincident MT
and DCIP resistivity geophysical anomaly while at the same time
testing a 500 m gap between previously released ALD-22-221 (see
Company news release dated August 19, 2022) and ALD-22-223 (see
Company news release dated March 1, 2023). Hole ALD-23-224 was
terminated at 1,210.50 m and intercepted long runs of
mineralization that extends the mineralized footprint well beyond
the 2021 resource estimate model.
Hole ALD-23-226 was drilled at the south-eastern
edge of the resistivity anomaly and was designed to test the
south-eastern extension of mineralization. The hole was collared
approximately 700 m to the south of ALD-22-223 and was
topographically quite high up the southern mountainside in relation
to hole 223. Hole ALD-23-226 was terminated at 1,146.80 m and
intercepted pyritic mineralization throughout the hole but did not
return significant assays. Once the hole entered into more
favourable host rocks at 1,076 m depth, mineralization improved, as
did the assays indicating proximity to the main mineralized
porphyry.
Highlights
ALD-23-224
- 769.50 m of
0.55% CuEq
- Including 366.00
m of 0.65% CuEq
- Including 76.00
m of 0.75% CuEq
- And 87.00 m of
0.77% CuEq
- Hole ended in
mineralization
- Significantly expands
mineralization both laterally and vertically below the 2021
resource model
ALD-23-226
- 27.80 m of 0.28%
CuEq
- Hole ended in
mineralization
- Defined the south-eastern limits of
the mineralized footprint of the Altar system in this area
John Black, Chief Executive Officer of
Aldebaran, commented as follows: “Hole ALD-23-224
reaffirms our belief that the Altar system is much larger than
previously thought. This hole represents another long run of
attractive-grade mineralization in an area previously considered
barren. Step by step we are expanding the Altar mineralized
footprint and with every additional hole we complete, we are
gaining more insight into the true size potential of this vast
mineralized system.”
Dr. Kevin B. Heather, Chief Geological
Officer of Aldebaran, commented as follows:
“Drillhole ALD-23-224 confirms our belief that the area between
Altar Central and Altar East porphyry centres is a strongly
mineralized porphyry body that looks to have a WNW-ESE trend and
ultimately may connect the two mineralized and resource bodies into
a unified system called Altar United. Although hole ALD-23-226
didn’t encounter economic runs of mineralization, it provided
valuable geological information that will help us better guide
future drilling and also suggested that the bottom of the hole was
approaching a mineralized porphyry intrusion.”
Table 1 - Drill Hole Results |
|
From |
To |
Interval |
Cu |
Au |
Ag |
Mo |
As |
CuEq |
|
(m) |
(m) |
(m) |
(%) |
(g/t) |
(g/t) |
(ppm) |
(ppm) |
(%) |
ALD-23-224 |
|
|
|
|
|
|
|
|
|
Interval |
441.00 |
1210.50 |
769.50 |
0.50 |
0.04 |
1.98 |
149 |
231 |
0.55 |
Incl. |
541.00 |
907.00 |
366.00 |
0.59 |
0.05 |
1.95 |
174 |
268 |
0.65 |
Incl. |
615.00 |
691.00 |
76.00 |
0.67 |
0.06 |
2.82 |
218 |
576 |
0.75 |
And |
826.00 |
913.00 |
87.00 |
0.70 |
0.03 |
1.88 |
232 |
303 |
0.77 |
ALD-23-226 |
|
|
|
|
|
|
|
|
|
Interval |
1119.00 |
1146.80 |
27.80 |
0.26 |
0.02 |
0.37 |
41 |
48 |
0.28 |
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. Recoveries used for the supporting metals found
in the CuEq equation are as follows: Au = 50%, Ag = 51%, (based on
historical metallurgical test work) and Mo = 70% (benchmarking from
similar deposits). The formula utilized to calculate equivalent
values is CuEq % = Cu % + (Au g/t * 0.34025) + (Ag g/t *
0.00446) + (Mo ppm * 0.00023). |
Discussion of Results
ALD-23-224
Drillhole ALD-23-224 was collared approximately
400 m to the west of hole ALD-22-223 and was drilled at -80 degrees
inclination and 180 degrees azimuth to a final depth of 1,210.50
m.
Drillhole ALD-23-224 intersected unfavourable
porphyritic rhyolite rocks until approximately 501 m, where it
transitioned to a well mineralized diorite porphyry intrusion until
the bottom of the hole.
The top 248 m of the hole are strongly fractured
and oxidized (i.e., leached) and from 248 m to 501 m, white
sericite-pyrite-tourmaline is the dominant alteration, which is
locally overprinted by high sulphidation structures characterized
by the presence of quartz-pyrite-enargite-chalcopyrite.
Quartz-pyrite-molybdenite veins occur sporadically in this interval
as well. Potassic K-feldspar alteration starts at 437 m and is
accompanied by strong quartz-chalcopyrite-pyrite-molybdenite
veining. Within the diorite porphyry unit, the potassic alteration
is consistently overprinted by halo-style green
sericite-chalcopyrite-chalcocite-pyrite-bornite assemblages
typically carrying multiple percentage sulphides.
ALD-23-226
Drillhole ALD-23-226 was collared at the
southern edge of the Altar East zone and was drilled at -75 degrees
inclination and 000 degrees azimuth to a final depth of 1,146.80
m.
Drillhole ALD-22-226 intersected fragmental
dacitic tuffs over the first 191 m, transitioning to crystal tuffs
until 733 m. At 733 m the hole transitions to quartz-eye bearing
rhyolite, which continues until 1,076 m depth when more favourable
andesite volcanic wall rocks were encountered. Mineralization and
alteration increase within the andesite until the end of the
hole.
The top 63 m of the hole was well fractured and
oxidized. From approximately 280 m until 1,000 m depth alteration
is dominantly sericite-tourmaline and chlorite-anhydrite.
Mineralization largely consists of pyrite, which is crosscut
locally by quartz-enargite-chalcopyrite veins. Molybdenite is
observed with increasing frequency towards the bottom of the hole
and at 1,000 m depth strong potassic alteration begins and is
overprinted locally by green sericite-quartz-chalcopyrite
alteration, which continues until the end of the hole.
Project Update
The Company is actively drilling with four rigs.
Locations of active drill holes can be observed in Figure 1. Holes
ALD-23-225B, ALD-23-227 and ALD-23-228 were recently completed at
1,347.2 m, 1,238.5 m and 1,241.6 m respectively. Hole 23-189EXT,
which recently commenced, is an extension of a historically drilled
hole ALD-12-189 which was originally terminated at 592 m depth. At
the time of this release, hole 189EXT was at approximately 1,000 m
depth and holes ALD-23-229, ALD-23-230 and ALD-23-231 were active
and at approximately 950 m, 500 m, and 500 m depths respectively.
The Company plans to continue drilling until weather permits, which
is currently anticipated to be sometime in June.
Webinar
For more context, please join CEO John Black and
CGO Dr. Kevin B. Heather in a live event on May 15th at 11:00 am
EST / 8:00 am PST. Q&A will follow the presentation. Click here
to register: https://my.6ix.com/nzImXMqg.
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.
ON BEHALF OF THE ALDEBARAN BOARD
(signed) “John Black”
John BlackChief Executive Officer and DirectorTel: +1 (604)
685-6800Email: info@aldebaranresources.com
Please click here and subscribe to receive future news
releases:
https://aldebaranresources.com/contact/subscribe/
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 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 (independent technical report prepared by
Independent Mining Consultants Inc., Tucson, Arizona, titled
"Technical Report, Estimated Mineral Resources, Altar Project, San
Juan Province, Argentina", dated March 22, 2021 - see news release
dated March 22, 2021).
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 completed
and active drill holes from the ongoing 2022/2023 drill program as
well as ALD-22-220 and ALD-22-221 from the 2021/2022 drill
program.https://www.globenewswire.com/NewsRoom/AttachmentNg/92d96883-8ad3-4773-848b-09629132d8f1
Figure 2 – Cross-section looking towards the northeast
displaying CuEq (%) values in
ALD-22-222.https://www.globenewswire.com/NewsRoom/AttachmentNg/bdfaa4d3-63cd-45d1-9a01-08c7248be4ce
Figure 3 – Cross-section displaying
resistivity anomaly and ALD-19-212, ALD-22-221, ALD-22-223 and
ALD-23-224https://www.globenewswire.com/NewsRoom/AttachmentNg/aca152a8-ccce-4025-a5c2-f04a7d557ef0
Figure 4 – Cross-section looking towards
the east displaying CuEq (%) values in
ALD-22-223.https://www.globenewswire.com/NewsRoom/AttachmentNg/f7d741ce-6fbe-41cb-8121-c9b865a14e5b
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Nov 2024 to Dec 2024
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Dec 2023 to Dec 2024