Overview of Exploration Work Programs Completed in 2021
Drill Program - Complete
Aldebaran commenced its 2021 drill program on February 2, 2021. The drill program focused on testing several of the higher priority targets from the group of new targets generated as part of the extensive data collection and data modeling exercise recently completed (see Dec 3, 2020 and Jan 19, 2021 press releases). The objectives of the 2021 drill program are to: (a) test extensions to zones of higher-grade mineralization, and (b) test areas within specific structural blocks identified during the relogging and geological modeling process as having a high potential to extend the footprint of the known mineralization.
The previous 43-101 resource statement for Altar, completed by the previous operator, showed a very large, low-grade mineral resource with elevated arsenic content. This is in part due to no geology being used, the low cut-off grade chosen, and the emphasis on “make it big” at the expense of grade. Aldebaran’s approach is very different and focuses on having a robust and consistent geological/structural model in conjunction with grade shells at different cut-offs for all the key economic and deleterious elements in order to highlight the potentially more economically attractive higher-grade zones and minimize the impact of the deleterious elements.
Aldebaran worked with IMC out of Tucson Arizona on a re-evaluation and update of the Altar project resource using our newly developed geological/structural model, grade shells and incorporation of eight additional new drill holes completed during 2018 and 2019. The objective was to highlight the size and geometry of (a) the known higher-grade primary copper-gold zones at QDM/Radio, Altar Central and Altar East, and (b) the size and geometry of the supergene copper zones. In addition, this work provides valuable information on where additional exploration drilling should be focussed to extend these higher-grade zones. An updated resource statement was released on March 22 2021.
Talus Fine Geochemistry
The first-ever systematic talus fine geochemical sampling program has now been completed over ~60% of the main Altar area, with the remaining ~40% currently in progress. Talus fine samples were collected on a 100 x 100 m grid pattern covering most of the Altar property. Approximately 1,915 samples have been collected and analyzed for multi-element geochemistry. The purpose of this type of sampling is to identify areas not only with anomalous Cu, Au, and Ag geochemistry, but also areas with anomalous geochemistry in the trace elements typically associated with porphyry copper-gold systems. Processing and analysis of this data is currently underway and will be used as one integrant for the generation of drill hole targets.
Geophysics – 3D Induced Polarization (IP) and Magneto-Telluric (MT) Survey
A 3D Induced Polarization (IP) and Magneto-Telluric (MT) survey was advanced during this field season. The survey will cover a 26.5 km2 area (7.8 x 3.4 km) over the main mineralized areas and their surrounds. The objective of the survey is to provide additional characterization of the known mineralization and identify possible extensions and/or new areas for drill testing. Most mineralized porphyry systems have clear responses to both IP and MT, with IP helping to map out sulphide distributions and MT helping to identify areas of favourable alteration such as potassic alteration and silicification, both typically associated with copper mineralization in these types of systems.We plan to complete the survey next field season (Q421-Q322).
An extensive amount of metallurgical test work has been completed for the Altar project over the last several years and Aldebaran will be re-evaluating the results of this data, taking into consideration the new geological/structural model and the numerous other new data sets to determine if additional, more focussed metallurgical test work is required.
Qualified Person The scientific and technical data contained on this page has been reviewed and approved by Dr. Kevin B. Heather, B.Sc. (Hons), M.Sc, Ph.D, FAusIMM, Chief Geological Officer (CGO) and director of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
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Specifically, and without limitation, all statements included on this web page 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 on this web page 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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