2019 Drill Program

 

Goals

One goal 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.

Metreage

5,400 m was drilled in four diamond core holes
Results summaryTwo 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.
News ReleaseNew Mineralized Porphyry Centre Discovered at Aldebaran’s Altar Project, San Juan, Argentina


During the 2019 campaign, drilling encountered a long interval of copper-gold mineralized porphyry below the QDM surface gold mineralization which constitutes a new porphyry centre discovery. Additional drill holes were completed at the Altar Central (ALD-19-212) and Altar East (ALD-19-211) porphyry centres with a fourth hole at QDM (QDM-19-040) being lost before reaching its intended target depth.

 

Table 1 - 2019 Altar Drill Hole Results

CuEq (%)
Cutoff

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

Cu
(%)

Ag (g/t)

Mo (ppm)

CuEq (%)

AuEq (g/t)

QDM-19-041

0.2

 

0.00

194.00

194.00

0.736

0.076

1.1

3

 

0.863

0.5

incl

32.00

92.00

60.00

1.040

0.062

1.7

3

 

1.153

0.5

and

102.00

144.00

42.00

0.931

0.141

1.0

2

 

1.151

0.2

 

737.00

1,526.00

789.00

0.089

0.407

1.0

126

0.518

 

0.5

incl

1,051.00

1,119.10

68.10

0.099

0.463

1.1

268

0.629

 

0.5

and

1,176.00

1,287.75

111.75

0.114

0.487

1.4

112

0.615

 

ALD-19-212

0.2

 

72.00

152.00

80.00

0.114

0.991

2.3

8

1.091

 

0.2

 

237.50

1379.00

1,141.50

0.043

0.465

1.1

75

0.530

 

0.5

incl.

237.50

317.00

79.50

0.145

0.880

1.7

12

0.998

 

0.5

and

561.00

601.00

40.00

0.101

0.677

0.7

16

0.758

 

0.5

and

749.00

895.00

146.00

0.034

0.613

0.9

41

0.657

 

0.5

and

995.00

1,165.00

170.00

0.016

0.705

1.7

126

0.774

 

 

 

50 ppm Mo

1061.00

2004.00

943.00

0.007

0.217

1.0

243

0.312

 

ALD-19-211

0.2

 

202.00

330.65

128.65

0.049

0.256

0.8

15

0.302

 

0.2

 

526.00

1,368.00

842.00

0.050

0.324

1.1

56

0.386

 

0.5

incl

786.00

838.00

52.00

0.098

0.480

1.4

93

0.590

 

QDM-19-040

0.2

 

0.00

138.00

138.00

0.637

0.041

4.9

2

 

0.761

0.5

incl.

0.00

36.00

36.00

1.086

0.022

8.8

2

 

1.233

0.5

and

88.00

110.00

22.00

0.995

0.023

3.3

4

 

1.072

The grades are uncut. CuEq and AuEq values were calculated using copper, gold and silver.  Metal prices utilized for the calculations are Cu = US$3.00/lb, Au = US$1,400/oz, Ag = US$18/oz, and Mo = US$10. All intervals presented above consist of sulphide mineralization. No adjustments were made for recovery as the project is an early stage exploration project and metallurgical data to allow for estimation of recoveries is not yet available. The formulas utilized to calculate equivalent values are CuEq = Cu % + ((Au g/t * 1400) + (Ag g/t * 18) + (Mo ppm * 10 / 14.5833)) / (22.046226 * 3 * 31.1035) and AuEq =Au g/t + ((Cu % * 3 * 22.046226 * 31.1035) + (Mo ppm / 10000 * 10 * 22.046226 * 31.1035) + ((Ag ppm * 18))) / 1400.

ANALYSIS


DRILL HOLE QDM-19-040

Where and Why: Drill hole QDM-19-040 (QDM target, 055°/-80°, final depth 468.00 m, see Figure 1) was drilled at an azimuth of 055° and an inclination of -80° from an old platform (i.e., QDM-011 & QDM-020) with the objective to test the possible presence of porphyry style Cu-Au mineralization below the known gold-rich epithermal system at QDM.

Results and Analysis: Drill hole QDM19-040 encountered 138.00 metres grading 0.04 % Cu, 0.64 g/t Au, 4.9 g/t Ag and 2 ppm Mo (0.76 g/t AuEq) starting at 0.00 metres depth, however the hole was lost in a fault zone at 486.00 meters before it reached the targeted depth.

DRILL HOLE QDM-19-041

Where and Why: Drill hole QDM-19-041 (QDM target, 050°/-80°, final depth 1,526.00 m, see Figures 1 and 2) was drilled at an azimuth of 050° and an inclination of -80° from an old platform (QDM-001) designed as a replacement hole for QDM-19-040 to test the possible presence of porphyry style Cu-Au mineralization below the known gold-rich epithermal system at QDM.

Results and Analysis: Drill hole QDM-19-041 encountered porphyry-style copper mineralization with high molybdenum content and moderate gold values, below well-developed epithermal gold mineralization.

The hole encountered an upper gold-rich zone of 194.00 metres grading 0.08 % Cu, 0.74 g/t Au, 1.1 g/t Ag, and 3 ppm Mo (0.86 g/t AuEq) starting at a depth of 0.00 metres and then encountered 789.00 metres grading 0.41 % Cu, 0.09 g/t Au, 1.0 g/t Ag, and 128 ppm Mo (0.52 % CuEq) starting at a depth of 737.00 metres. The upper gold-rich zone is hosted by dacite intrusive rock that is cut by abundant thin quart-magnetite-pyrite veinlets that have be partially oxidized. Copper grades pick up downward from 736.00 m related to thin chalcopyrite veinlets which are intimately associated with the occurrence of narrow intrusive diorite dykes that intrude massive andesites. Moderate to high-grade molybdenum commences at this depth and extends throughout the rest of the hole associated with abundant molybdenite veinlets.

The highest grades of copper are associated with the local occurrence of bornite with chalcopyrite which occurs intermittently below 978.00 m depth. From 1140.00 to 1379.00 m depth, arsenic values are occasionally moderate to high, associated with narrow late-stage irregular veinlets. The hole finishes in strong copper mineralization with increasing gold content but was stopped because of drill rig limitations.

Drill hole QDM-19-041 constitutes a new porphyry centre discovery with distinctly different mineralogy and textures from the Radio porphyry centre to the east. This new zone is not currently considered within the existing 43-101 resource estimate and therefore warrants additional follow-up drilling.

DRILL HOLE ALD-19-211

Where and Why: Drill hole ALD-19-211 (Altar East target, 090°/-75°, final depth 1,402.00 m) was collared on the southwestern border of the known Altar East mineralization and was drilled at an azimuth of 090° and an inclination of -75° to test the extension to the south of the well-mineralized zone found during the 2018 drill campaign in hole ALD-18-209.

Results and Analysis: Drill hole ALD-19-211 encountered a long interval of 842.00 metres grading 0.32 % Cu, 0.05 g/t Au, 1.1 g/t Ag and 56 ppm Mo (0.39 % CuEq) starting at 526.00 metres depth. From surface to its final depth at 1,402.00 m, hole ALD-19-211 intersected copper mineralization (>0.1 - 0.5 % Cu) and strongly anomalous molybdenum mineralization hosted in a mid-Miocene diorite porphyry which is crosscut by several narrow intervals of magmatic-hydrothermal breccia. The predominance of higher-grade molybdenum with lower-grade copper mineralization indicates we are nearing the southern edge of the Altar East system, although mineralization is still open to the west.

DRILL HOLE ALD-19-212

Where and Why: Drill hole ALD-19-212 (Altar Central target, 000°/-85°, final depth 2,004.00 m) (Figure 3) was collared 100 m north of historical drill pad ALD-08-043 and drilled at an azimuth of 000° and an inclination of -85° to the north in order to test the extension in this direction and at depth of the main mineralized zone in Altar Central.

Results and Analysis: Drill hole ALD-19-212 encountered an upper zone of 80.00 metres grading 0.99 % Cu, 0.11 g/t Au, 2.3 g/t Ag and 8 ppm Mo (1.09 % CuEq) starting at 72.00 metres depth and a lower, long interval of 1141.50 metres grading 0.47 % Cu, 0.04 g/t Au, 1.1 g/t Ag and 75 ppm Mo (0.53 % CuEq) starting at 237.50 metres depth.

The mineralization is hosted within several facies of mid-Miocene aged, inter-mineral quartz-diorite porphyry intrusions. A major change occurs at 1,165.00 m depth where an abrupt drop in copper grades (i.e., >0.1 - <0.3 % Cu) and a significant increase in molybdenum grades (i.e., 100 - >400 ppm Mo) occurs over the last 950 m of the hole. This long intercept of Mo at the bottom of drill hole ALD-19-212 suggests we have drilled down the side (“shoulder”) of a molybdenite-shell of a potential new porphyry centre.

 

To view information on the 2018 drill program at Altar carried out between Sibanye and Aldebaran, click here.

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