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Overview
The Altar Project is located in Argentina, within the Province of San Juan, approximately 10 km from the Argentina–Chile border, and approximately 180 km in a direct line west of the city of San Juan. Elevations within the Project area range between 3,100 metres above sea level (MASL) and 4,000 MASL. The centre(s) of the deposit is at an elevation of approximately 3,400 MASL. The project is approximately 46 km to the south of McEwen Copper’s Los Azules project and 30 km to the north of Glencore’s El Pachon project.
Altar consists of a cluster of porphyry centres across 7 km of strike length, with six known mineralized zones to date – Altar East, Altar Central, Altar North, Altar United, QDM Gold & Radio.
In 2018, Aldebaran entered an option agreement to earn up to an 80% interest in the Altar project from Sibanye-Stillwater. In 2024, Aldebaran completed its obligations and moving forward, the project is a joint venture with Aldebaran funding 80% of expenditures and Sibanye-Stillwater funding 20%.
CRA (Rio Tinto) originally held the Altar project from 1995-2004, completing 2,841 m of drilling on the project. In 2005, Peregrine Metals optioned the Altar property from Rio Tinto and from 2005-2011, completed 56,761 m of drilling on the project. Peregrine Metals was acquired from Stillwater Mining, in 2011 for ~US$487 M. From 2012-2018, Stillwater Mining and subsequently Sibanye-Stillwater (following the acquisition of Stillwater Mining by Sibanye Gold in 2017) completed 53,864 m of drilling on the project.
As per the NI-43101 MRE prepared by Independent Mining Consultants, Inc, in 2024, Altar has measured and indicated resources of 2.40 billion tonnes grading 0.42% Cu, 0.07 g/t Au and 1.22 g/t Ag, as well as inferred resources of 1.22 billion tonnes grading 0.37% Cu, 0.04 g/t Au and 1.25 g/t Ag. See technical report for further details.
The Company is currently advancing the Altar project towards a preliminary economic assessment (PEA) in 2025, and a pre-feasibility study (PFS) in 2026.
San Juan, Argentina, is consistently ranked as one of the top rated jurisdictions in Latin America for mining investment attractiveness by the Fraser Institute. In 2024, there were 64 active drill rigs working on copper projects in the province.
Aldebaran, including its executives, employees and contractors, ensure each decision is made based on our core values and good governance practices in support of the project, the community and the environment.