VANCOUVER, CANADA (October 3, 2019) – Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE) is pleased to announce the discovery of a new mineralized porphyry centre below the Quebrada De La Mina (“QDM”) surface gold mineralization at its Altar copper-gold project in San Juan Province, Argentina (“Altar” or the “Altar project“). The Altar project is a very large, low grade resource that currently has over 14 billion lbs of contained copper and 4.8 million ounces of gold on a measured and indicated basis, plus an additional 3.4 billion lbs copper and 1.09 million ounces gold on an inferred basis (NI 43-101 resource estimate prepared by IMC effective September 28, 2018). One of our goals is to explore and expand the higher-grade zones to identify a higher-grade resource within the project, as well as identify and drill test several new target areas.
The results from the drill program completed in 2019 are reported below in Table 1. A total of 5,400 m was drilled in four diamond core holes. Two of the three holes that reached their target depth intersected long intervals of higher than current resource grade material, one of which (QDM-19-41) was the discovery of a new porphyry centre.
Drill campaign highlights – Altar project:
- QDM-19-041
- An upper zone of gold rich material with 194.00 m of 0.74 g/t Au and 1.1 g/t Ag (0.86 g/t AuEq) from surface
- Including 60.00 m with 1.04 /t Au and 1.7 g/t Ag (1.15 g/t AuEq)
- A lower zone of 789.00 m with 0.41% Cu, 0.09 g/t Au, 1.0 g/t Ag and 126 ppm Mo (0.52% CuEq) from 737.00 m depth
- Including 111.75 m with 0.49% Cu, 0.11 /t Au, 1.4 g/t Ag and 112 ppm Mo (0.62% CuEq)
- The lower zone represents a new porphyry centre discovery which is not currently within the 43-101 Altar mineral resource
- An upper zone of gold rich material with 194.00 m of 0.74 g/t Au and 1.1 g/t Ag (0.86 g/t AuEq) from surface
- ALD-19-212:
- An upper zone of 80.00 m with 0.99% Cu, 0.11 g/t Au, 2.3 g/t Ag and 8 ppm Mo (1.09% CuEq) from 72.00 m depth (secondary copper sulphide enrichment blanket)
- Including 28.00 m with 1.63% Cu, 0.11 g/t Au, 1.4 g/t Ag and 6 ppm Mo (1.71% CuEq)
- A lower zone of 1,141.50 m with 0.47% Cu, 0.04 g/t Au, 1.1 g/t Ag and 75 ppm Mo (0.53% CuEq) from 237.50 m depth
- Including 79.50 m with 0.88% Cu, 0.15 /t Au, 1.7 g/t Ag and 12 ppm Mo (1.00% CuEq)
- And 146.00 m with 0.61% Cu, 0.03 g/t Au, 0.9 g/t Ag and 41 ppm Mo (0.66% CuEq)
- And 170.00 m with 0.71% Cu, 0.02 g/t Au, 1.7 g/t Ag and 126 ppm Mo (0.77% CuEq)
- A lower zone of higher-grade moly: 943.00 m with 243 ppm Mo from 1,061.00 m depth
- Indicates hole was drilled down the side of the molybdenite shell of another potential porphyry centre
- An upper zone of 80.00 m with 0.99% Cu, 0.11 g/t Au, 2.3 g/t Ag and 8 ppm Mo (1.09% CuEq) from 72.00 m depth (secondary copper sulphide enrichment blanket)
John Black, Chief Executive Officer of Aldebaran, commented as follows: “We are very excited to report our first drill program at Altar. Two of the three holes that hit their intended depth intersected long runs of >0.5% CuEq, which is materially higher grade than the historic resource estimate at Altar. The discovery of a new porphyry centre below the QDM gold system opens an entirely new area of exploration for additional copper-gold resources. As well, the long run of higher grade molybdenite in hole ALD-19-212 indicates we may be on the edge of yet another undiscovered porphyry centre. Information from this drill program, combined with our ongoing detailed relogging of close to 115,000 m of historical drill core, will help us define future drill targets, extend known mineralization and allow us to potentially recast the current low to moderate-grade resource into a lower tonnage, higher-grade resource.”
