Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) is pleased to announce the commencement of 2021-2022 exploration activities at the Altar copper-gold project in Argentina and to provide an update on plans for the upcoming field season.
The Company has been able to re-commence exploration at Altar much earlier in the field season than in previous years due to the recent opening of a new low elevation access road. Aldebaran employees are currently opening the camp and expanding its capacity for personnel to facilitate a substantially larger drill program. The Company has secured four drill rigs from Boart Longyear; these will be mobilized to site shortly, with drilling anticipated to begin in early November.
The primary goal of the 2021-2022 drill program is to complete a significant amount of drilling at the Radio Porphyry target, to follow up on the high-grade intercepts reported in hole QDM-21-42 earlier this year. As previously disclosed, QDM-21-42 returned 111 m of 1.4% CuEq, within 333.1 m of 0.86% CuEq, also within 629 m of 0.61% CuEq (see July 13, 2021 press release). The Company will look to produce a preliminary resource estimate for this target after drilling has been completed.
Additional Drill Targets
The Company also intends to drill extensions of high-grade mineralization at Altar Central and Altar East, which remain open to expansion in several directions. These holes are designed to test areas within the current resource pit where there are not yet resource blocks defined or reported. Several promising greenfield exploration targets, which have had limited or no drilling and which are located away from the current resource, have been identified through the Company’s previous geological mapping, geophysical, and geochemical programs. This field season, time will be spent working up these greenfield targets to be ready for drill testing, likely towards the end of the 2021-2022 field campaign.
Further Field Work Plans
The Company will also be expanding its talus fines geochemical survey, which was completed during the 2020-2021 field season over and immediately surrounding the principal areas of mineralization, to cover the entire remaining claims for the project. The talus fines geochemical data has proved to be a very useful exploration tool in identifying favourable areas for further follow-up exploration. In addition, the 3D IP-MT geophysical survey that was started earlier this year as part of the 2020-2021 campaign but was terminated due to unfavourable climate conditions, is expected to be a top priority to complete in the early part of the upcoming field season. This data will be available for drill targeting in the latter half of the field season.
John E. Black, Chief Executive Officer of Aldebaran, commented: “The new low elevation road allows us to increase our field season by at least two to three months and potentially longer. With four drill rigs secured and a longer field season, this upcoming drill campaign is going to be significantly larger in scale than previous years. In our last drill campaign, we were able to confirm the Radio Porphyry target can host significant intercepts of >1% CuEq. One of our goals this upcoming drill campaign is to finish enough drilling at Radio Porphyry to be able to complete a preliminary resource estimate at the end of the field season. Altar already has a very large resource; however, we view Radio Porphyry as a potential game changer due to its higher-grade mineralization. In addition, we have several exciting targets at Altar Central and Altar East which require drilling, as well as some interesting greenfield targets which we plan to test by the end of the field season.”
The scientific and technical data contained in this news release has been reviewed and approved by Dr. Kevin B. Heather, B.Sc. (Hons), M.Sc, Ph.D, FGS, FAusIMM, Chief Geological Officer (CGO) and director of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.