Aldebaran Resources Inc.
("
Aldebaran" or the "
Company")
(TSX-V: ALDE, OTCQX: ADBRF) is pleased to announce
the commencement of 2021-2022 exploration activities at the Altar
copper-gold project in Argentina and to provide an update on plans
for the upcoming field season.
The Company has been able to re-commence
exploration at Altar much earlier in the field season than in
previous years due to the recent opening of a new low elevation
access road. Aldebaran employees are currently opening the camp and
expanding its capacity for personnel to facilitate a substantially
larger drill program. The Company has secured four drill rigs from
Boart Longyear; these will be mobilized to site shortly, with
drilling anticipated to begin in early November.
Radio Porphyry
The primary goal of the 2021-2022 drill program
is to complete a significant amount of drilling at the Radio
Porphyry target, to follow up on the high-grade intercepts reported
in hole QDM-21-42 earlier this year. As previously disclosed,
QDM-21-42 returned 111 m of 1.4% CuEq, within 333.1 m of 0.86%
CuEq, also within 629 m of 0.61% CuEq (see July 13, 2021 press
release). The Company will look to produce a preliminary resource
estimate for this target after drilling has been completed.
Additional Drill Targets
The Company also intends to drill extensions of
high-grade mineralization at Altar Central and Altar East, which
remain open to expansion in several directions. These holes are
designed to test areas within the current resource pit where there
are not yet resource blocks defined or reported. Several promising
greenfield exploration targets, which have had limited or no
drilling and which are located away from the current resource, have
been identified through the Company’s previous geological mapping,
geophysical, and geochemical programs. This field season, time will
be spent working up these greenfield targets to be ready for drill
testing, likely towards the end of the 2021-2022 field
campaign.
Further Field Work Plans
The Company will also be expanding its talus
fines geochemical survey, which was completed during the 2020-2021
field season over and immediately surrounding the principal areas
of mineralization, to cover the entire remaining claims for the
project. The talus fines geochemical data has proved to be a very
useful exploration tool in identifying favourable areas for further
follow-up exploration. In addition, the 3D IP-MT geophysical survey
that was started earlier this year as part of the 2020-2021
campaign but was terminated due to unfavourable climate conditions,
is expected to be a top priority to complete in the early part of
the upcoming field season. This data will be available for drill
targeting in the latter half of the field season.
John E. Black, Chief Executive Officer
of Aldebaran, commented: “The new low elevation road
allows us to increase our field season by at least two to three
months and potentially longer. With four drill rigs secured and a
longer field season, this upcoming drill campaign is going to be
significantly larger in scale than previous years. In our last
drill campaign, we were able to confirm the Radio Porphyry target
can host significant intercepts of >1% CuEq. One of our goals
this upcoming drill campaign is to finish enough drilling at Radio
Porphyry to be able to complete a preliminary resource estimate at
the end of the field season. Altar already has a very large
resource; however, we view Radio Porphyry as a potential game
changer due to its higher-grade mineralization. In addition, we
have several exciting targets at Altar Central and Altar East which
require drilling, as well as some interesting greenfield targets
which we plan to test by the end of the field season.”
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, FGS, FAusIMM, Chief Geological
Officer (CGO) 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
“John
Black”
John BlackChief Executive Officer and Director
For further information, please consult our website
at www.aldebaranresources.com or
contact:
Laura BrangwinInvestor Relations ManagerPhone: +1 646 583-1404
Email: laura.brangwin@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 acquired the Rio Grande copper-gold
project located in Salta Province, Argentina from Regulus along
with several other early-stage projects in Argentina. Aldebaran
also has the right to earn up to an 80% interest in the Altar
copper-gold project in San Juan Province, Argentina from
Sibanye-Stillwater. Altar hosts a cluster of large porphyry
copper-gold systems with mineralization currently defined in four
distinct zones. The Altar project forms part of a larger cluster of
world-class porphyry copper deposits, which includes Los Pelambres
in Chile (Antofagasta Minerals), along with El Pachón (Glencore),
and Los Azules (McEwen Copper) in Argentina. A total of 266 drill
holes (123,968 m) have been completed at Altar between 1995 and
2021. In mid-2018 an updated NI 43-101 resource was prepared for
Altar by Independent Mining Consultants Inc. based on the drilling
completed up to 2017. The updated Altar NI 43-101 report is
available on Aldebaran's SEDAR profile at www.sedar.com.
Aldebaran’s primary focus is the Altar project with a view to
discovering new zones with higher-grade mineralization.
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.
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 using 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.
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