1995 - 2004
The Altar Project was first explored and drilled by CRA/Rio Tinto
(2,841 m, 7 holes)
Exploration History
251 holes totaling 113,428m drilled as of September 2018
2005
Peregrine, a Canadian exploration company, subsequently optioned the property from Rio Tinto in 2005.
2005 - 2011
Peregrine expanded the property >12,200 ha and completed drilling to define an initial mineral resource estimate at Altar Central and Altar East.
(56,761 m, 146 drill holes)
July 2011
Peregrine Metals was acquired by Stillwater for ~US$490MM for its Altar Project
2012 - 2013
A total of 38,380m were drilled by Stillwater
(97,981m total drilled, 80 holes)
2013
Stillwater refocuses on PGM production, Altar declared a non-core asset
2014 - 2015
Exploration at Altar was limited to surface mapping and the collection of baseline environmental data
2016
US$4MM was spent on drilling which led to discovery of the QDM Cu-Au Radio porphyry
(4,893m, 8 holes)
May 2017
Sibanye completed their acquisition of Stillwater, retaining a 100% interest in the Altar Project
2017
US$1.7MM was spent on drilling focusing on the QDM porphyry discovered in 2016
(5,630m, 7 holes)
Spring 2018
Drilling by Sibanye-Stillwater – cost sharing agreement in place with Regulus / Aldebaran
(4,923m, 3 holes + 1 extension) of deeper drilling by Sibanye-Stillwater)
Fall 2018
Aldebaran JV agreement with Sibanye-Stillwater to acquire the Altar project finalized
Drill Results
Altar East | ||||||
| Drill Hole | From (m) | To (m) | Length (m) | Cu % | Au g/t | Cu Eq% |
|---|---|---|---|---|---|---|
| ALD 173 | 12.00 | 941.00 | 929.00 | 0.44 | 0.24 | 0.62 |
| including | 324.00 | 860.00 | 536.00 | 0.57 | 0.34 | 0.82 |
| ALD 176 | 72.00 | 951.25 | 879.25 | 0.53 | 0.29 | 0.76 |
| including | 456.00 | 951.25 | 495.25 | 0.71 | 0.39 | 1.01 |
Altar Central | ||||||
| Drill Hole | From (m) | To (m) | Length (m) | Cu % | Au g/t | Cu Eq% |
| ALD 043 | 210.00 | 1009.70 | 799.70 | 0.69 | 0.06 | 0.73 |
| including | 210.00 | 292.00 | 82.00 | 0.96 | 0.08 | 1.03 |
| and | 576.00 | 951.80 | 375.80 | 0.85 | 0.04 | 0.89 |
| ALD 049 | 132.00 | 951.60 | 819.60 | 0.62 | 0.10 | 0.70 |
| including | 264.00 | 616.00 | 352.00 | 0.78 | 0.17 | 0.91 |
QDM-Radio Porphyry | ||||||
| Drill Hole | From (m) | To (m) | Length (m) | Cu % | Au g/t | Cu Eq% |
| QDM 034 | 634.00 | 1006.00 | 372.00 | 0.59 | 0.46 | 0.95 |
| including | 840.00 | 940.00 | 100.00 | 1.07 | 0.96 | 1.82 |
| including | 852.00 | 918.00 | 66.00 | 1.32 | 1.22 | 2.27 |
| including | 882.00 | 918.00 | 36.00 | 1.72 | 1.62 | 2.99 |
Reported intervals based on cutoffs of 0.2% CuEq and 0.5% CuEq.
CuEq = Cu% + ((Au ppm * $/oz Au + Ag ppm * $/oz Ag)/(22.0462 * 31.1035 * $/lb Cu))
CuEq metal prices used are: Cu = US$2.25/lb, Au = US$1,100/oz and Ag = US$14/oz
