Aldebaran Resources drills 0.81% CuEq over 649.60 metres at Altar Project, Argentina

Aldebaran Resources Inc. [TSXV-ALDE; OTCQX-ADBRF] reported results for four drill holes of the 2023/2024 field campaign at the Altar copper-gold project in San Juan, Argentina. The holes reported herein (ALD-24-074EXT, ALD-24-240, ALD-24-241, ALD-24-238, and ALD-24-242) were all substantial step-outs to the north or south of known mineralization.

Hole ALD-24-074EXT was designed to extend mineralization in the Altar United trend. Hole ALD-24-241 was designed to achieve three goals: infill a gap in our drilling at the Altar United discovery, drill perpendicular to many of the previous holes within the United area to ensure there is no bias in grades because of hole orientation, and to test for continuity in between the existing fences of drill holes. Hole ALD-24-240 was designed to fill a gap in the existing drilling, and hole ALD-24-242 was designed to test the southern extent of the mineralized footprint at the Altar project. All holes successfully hit mineralization and expanded the footprint of the mineralized system, while ALD-24-241 returned one of the highest-grade intercepts from the project to date. All four holes will provide valuable information for the upcoming mineral resource estimate, scheduled for H2 2024.

Highlights – ALD-24-241: 158.80 metres of 0.45 g/t gold in oxide mineralization from 3.40 metres depth, including 90.60 metres of 0.52 g/t gold from 3.40 metres depth. This area requires follow-up work to see if this style of mineralization is open; 1,018.60 m of 0.60% CuEq (copper equivalent) from 277.40 m depth, including 797.00 m of 0.71% CuEq from 499.00 m depth, including 649.60 m of 0.81% CuEq from 646.40 m depth, including 155.00 m of 1.00% CuEq from 871.00 m depth, including 102.10 m of 0.96% CuEq from 1,064.90 m depth.

The hole was lost due to operator error; the company had intended to drill the hole deeper. The hole ended in mineralization with the final 7.00 metres returning 0.80% CuEq.

ALD-24-074EXT: 1,199.00 m of 0.38% CuEq from 128 m depth, including 82.00 m of 0.71% CuEq from 130 m depth. Extension of a historic hole, originally terminated at 607.60 m and extended to 1,327.00 m depth. Hole ended in mineralization with the final 11.00 m returning 0.62% CuEq.

ALD-24-240: 1,085.00 m of 0.34% CuEq from 187.70 m depth, including 65.00 m of 0.55% CuEq from 701.00 m depth.

ALD-24-242: 219.90 m of 0.28% CuEq from 779.50 m depth, including 116.40 m of 0.36% CuEq from 883.00 m depth.

John Black, CEO, commented: “The Altar deposit continues to grow with each drill hole we complete. This batch of drill holes expands the mineralized footprint of the deposit and grows the higher-grade mineralization commonly found at Altar United. Hole 241, which targeted Altar United, represents one of the best holes we’ve drilled on the project to date, with long runs of very attractive-grade mineralization. All this information will be valuable as we move towards a mineral resource update, planned to be completed later this year.”

Dr. Kevin B. Heather, Chief Geological Officer, commented: “All of the holes have provided us with valuable geological information that will be beneficial to the growth of the mineral resource. The oxide hosted gold mineralization encountered at the top of hole 241 is very intriguing and may offer opportunities to expand this style of mineralization that could be amenable to low-cost heap leaching early in the operation. Holes 240 and 242 expand the known footprint of mineralization. Hole 241, apart from being one of the better intercepts on the project to-date, it also, and importantly, confirms lateral continuity of the higher-grade mineralization perpendicular to the orientation of most of the previous drill holes in the Altar United area; not to mention filling in a large gap in the previous drilling.”

The company is winding down the 2023/2024 field program with one drill rig currently active. Holes ALD-24-062EXT, ALD-24-129EXT, ALD-24-243, ALD-24-165EXT, ALD-24-150EXT, and ALD-24-244 are complete and were terminated at 1,161.00 m, 1,211.00 m, 1,842.00 m, 1,208.00 m, 1,239.50 m, and 1,061.00 m depth, respectively: all pending final assays. Holes ALD-24-062EXT, ALD-24-129EXT, ALD-24-165EXT, and ALD-24-150EXT are all historic drill holes that were originally terminated at 470.00 m, 513.00 m, 484.50 m, 548.00 m depth, respectively, but that were extended during the current drilling campaign to 1,161.00 m, 1,211.00 m, 1,208.00 m, and 1,239.50 m depths respectively. Hole ALD-24-243 deviated significantly from its originally intended target due to operator error, however, the Company elected to let the hole continue to a final depth of 1,842.00 m due to encouraging visuals. ALD-24-245 is currently active and at approximately 820 m depth and will be the final hole of this field season.

Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran holds a 60% interest in the Altar copper-gold project in San Juan Province, Argentina and can earn an additional 20% interest in the project by completing a further $25 million in expenditures at Altar over the next three years.

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.