Aldebaran Resources Inc. [ALDE-TSXV; ADBRF-OTC] reported results from drill holes ALD-22-220 and ALD-22-221 at the Altar project, Argentina. 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; 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 include drill hole ALD-22-221 that returned 64.00 metres of 0.38% CuEq (copper equivalent) from 22 metres depth; 1,059.50 metres of 0.40% CuEq from 228 metres depth, including 50.00 metres of 0.72% CuEq from 660 metres depth and 95.05 metres of 0.64% CuEq from 832 metres 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. The hole ended in mineralization. ALD-22-220 returned 284.00 metres of 0.41% CuEq from 462 metres depth, including 100.00 metres of 0.55% CuEq from 462 metres depth; and 135.00 metres of 0.23% CuEq from 809 metres depth.
John Black, CEO, commented: “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, commented: “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.”
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 can earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater Limited [SBSW-NYSE American]. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries.