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 and ALD-22-223. Hole ALD-23-224 was terminated at 1,210.50 metres 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 southeastern extension of mineralization. The hole was collared approximately 700 metres 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 metres 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 metres depth, mineralization improved, as did the assays indicating proximity to the main mineralized porphyry.
Highlights: ALD-23-224 returned 769.50 metres of 0.55% CuEq (copper equivalent), including 366.00 metres of 0.65% CuEq, including 76.00 metres of 0.75% CuEq and 87.00 metres of 0.77% CuEq. The hole ended in mineralization and significantly expands mineralization both laterally and vertically below the 2021 resource model.
ALD-23-226 returned 27.80 metres of 0.28% CuEq. The hole ended in mineralization and defined the southeastern limits of the mineralized footprint of the Altar system in this area.
John Black, CEO, commented: “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: “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.”
The company is actively drilling with four rigs. Holes ALD-23-225B, ALD-23-227 and ALD-23-228 were recently completed at 1,347.2 metres, 1,238.5 metres and 1,241.6 metres, 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 metres depth and holes ALD-23-229, ALD-23-230 and ALD-23-231 were active and at approximately 950 metres, 500 metres, and 500 metres depths respectively. The company plans to continue drilling until weather permits, which is currently anticipated to be sometime in June.
Aldebaran can earn up to an 80% interest in the Altar copper-gold project from Sibanye Stillwater Limited [SBSW-NYSE]. 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 Pachon (Glencore), and Los Azules (McEwen Copper).