March 15, 2023
Aldebaran Resources (TSX-V: ALDE)(OTC: ADBRF) — currently trading around C$0.90 per share — has announced a long intercept of copper mineralization at the resource-stage Altar copper-gold project in Argentina.
The company released additional results from two holes at its ongoing, 3-rig drill program at the flagship project:
- Hole ALD-22-223 intersected 1,167 meters (1.167 km) of 0.48% copper equivalent (CuEq) from 120 meters depth; including 418 meters of 0.67% CuEq.
- Hole ALD-22-222 intersected 378 meters of 0.46% CuEq from 848 meters depth.
With both holes ending in mineralization, Aldebaran Resources CEO John Black — whom you’re about to hear from directly in our exclusive interview — commented via press release:
“Any time you intersect over a kilometer of good-grade mineralization, it's exciting. In the case of hole 223, it's very encouraging as the mineralization starts near surface and is in an area with no previous drilling. This opens a very large area for potential resource expansion and demonstrates that the Altar deposit, while already very large, has the potential to become significantly larger.”
Aldebaran is earning in to an 80% interest in Altar from Sibanye-Stillwater (NYSE: SBSW) who subsequently holds a 17.5% equity position in Aldebaran. The Altar global resource (M&I plus Inferred) — which consists of the Altar Central and Altar East zones — currently stands at 1.4 billion tonnes grading 0.43% Cu.
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The company is springboarding off momentum from last year wherein it identified a large resistivity anomaly below a largely untested pit shell. Drilling from 2022 also produced a highlight intercept (Hole ALD-22-221) of 1,060 meters of 0.40% CuEq from 228 meters depth; including 50 meters of 0.72% CuEq.
The ALDE team reports that hole ALD-22-223 can be viewed as a new brownfield discovery hole considering it was drilled into a previously undrilled area between Altar Central and Altar East — a significant distance from either of those two known areas of mineralization.
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Drilling progress to-date further demonstrates that the newly identified geophysical anomaly is a reasonable proxy for mineralization and confirms the company’s belief that mineralization exists connecting Altar Central and Altar East together into a larger deposit.
With momentum building via the drill bit, the Aldebaran team is actively seeking to secure additional rigs to further ramp up its current, fully funded, 3-rig drill program at Altar.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Aldebaran Resources CEO John Black to go over the resource, the latest drill results, and next-steps in the advancement of Altar to the benefit of ALDE shareholders. Please enjoy!
Editor, Resource Stock Digest