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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aldebaran Resources Inc | TSXV:ALDE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -2.30% | 0.85 | 0.85 | 0.99 | 0.87 | 0.82 | 0.85 | 151,839 | 20:59:59 |
Altar Mineral Resource Estimate Highlights
Altar Central & Altar East:
QDM Gold
The open pit constrained Mineral Resources are summarized below in Table 1 and Table 2.
Table 1. Altar Central & East - Open Pit Mineral Resource (0.3 % CuEq cut-off) | |||||||||
Average Grade | Contained Metal | ||||||||
Material Type | Category | Tonnes(Mt) | Cu(%) | Au(g/t) | Ag(g/t) | As(ppm) | Cu(M lbs) | Au(M Oz) | Ag(M Oz) |
Supergene | Measured | 217.2 | 0.48 | 0.08 | 1.21 | 314 | 2,289 | 0.5 | 8.5 |
Indicated | 68.0 | 0.45 | 0.08 | 0.96 | 156 | 673 | 0.2 | 2.1 | |
Total M&I | 285.2 | 0.47 | 0.08 | 1.15 | 276 | 2,962 | 0.7 | 10.5 | |
Inferred | 14.6 | 0.45 | 0.08 | 0.74 | 113 | 143 | 0.0 | 0.3 | |
Hypogene | Measured | 404.9 | 0.42 | 0.11 | 0.95 | 114 | 3,785 | 1.5 | 12.4 |
Indicated | 508.1 | 0.41 | 0.08 | 0.96 | 113 | 4,615 | 1.3 | 15.7 | |
Total M&I | 913.0 | 0.42 | 0.09 | 0.96 | 113 | 8,400 | 2.7 | 28.0 | |
Inferred | 174.7 | 0.42 | 0.06 | 0.80 | 70 | 1,606 | 0.4 | 4.5 | |
Total | Measured | 622.1 | 0.44 | 0.10 | 1.04 | 184 | 6,074 | 2.0 | 20.8 |
Indicated | 576.1 | 0.42 | 0.08 | 0.96 | 118 | 5,288 | 1.4 | 17.8 | |
Total M&I | 1,198.2 | 0.43 | 0.09 | 1.00 | 152 | 11,362 | 3.4 | 38.6 | |
Inferred | 189.2 | 0.42 | 0.06 | 0.80 | 73 | 1,749 | 0.4 | 4.8 | |
See Notes at end of release for details. |
Table 2. QDM Gold - Open Pit Mineral Resource (0.33 - 0.7 g/t AuEq cut-off) | ||||||||
Average Grade | Contained Metal | |||||||
Category | Tonnes (Mt) | Au(g/t) | Ag(g/t) | Cu(%) | As(ppm) | Au(M Oz) | Ag(M Oz) | Cu(M lbs) |
Measured | 15.8 | 0.81 | 3.59 | 0.06 | 168 | 0.41 | 1.83 | 21.0 |
Indicated | 4.2 | 0.68 | 3.74 | 0.06 | 164 | 0.09 | 0.50 | 5.0 |
Total M&I | 20.0 | 0.78 | 3.62 | 0.06 | 167 | 0.50 | 2.33 | 26.0 |
Inferred | 1.2 | 0.58 | 5.34 | 0.03 | 153 | 0.02 | 0.21 | 1.0 |
See Notes at end of release for details. |
John E. Black, Chief Executive Officer of Aldebaran, commented as follows: “The Company is pleased to announce a major milestone with the updated Altar Resource Estimate. The previous 2018 resource estimate utilized a break-even cut-off grade, which ultimately resulted in a larger, but lower-grade resource estimate. By utilizing a higher cut-off, we have been able to show the better grade portions of the deposits. The result is a higher-grade, reduced tonnage estimate that we feel is a much more attractive alternative. This resource estimate only captures three of the many known mineralized zones at Altar. The Radio copper-gold porphyry, located immediately to the east of the QDM Gold deposit, currently requires more drilling to be categorized as resources, but initial drilling has intercepted some of the highest copper-gold grades encountered on the project to date. Altar North has shown impressive drill results as well but requires more drilling to define reportable resources. Directly beneath the QDM Gold deposit, lies the QDM porphyry, which was discovered in the last drilling campaign, and only has been tested with a single drill hole to date. Additionally, we believe there are other deposits at Altar that have yet to be discovered. With the resource now re-cast, our focus turns to further exploration to test the many targets identified on the project. Our primary goal is to find additional higher-grade mineralization that could further improve the overall grade profile of the project.”
Dr. Kevin B. Heather, Chief Geological Officer of Aldebaran, commented as follows: “This updated resource marks an important stepping-stone towards unlocking previously hidden value at the Altar project. The extensive re-logging of over 115,000 m of drill core, geological and structural mapping, and the numerous other technical studies we have completed over the past two years is starting to bear fruit; but there is much more to be done and much more value to be unlocked through extending the known mineralization and testing the numerous newly identified targets. These are truly exciting times, and we look forward to continuing to reveal more hidden value through good science and the drill bit.”
Altar Resource Estimate
The Altar Resource Estimate has an effective date of March 22, 2021 and was completed by Independent Mining Consultants (IMC) out of Tucson, Arizona. The Altar Resource Estimate is prepared and reported in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves. Mr. John Marek is the Qualified Person for the Altar Resource Estimate. A supporting NI 43-101 Technical Report will be filed on SEDAR at www.sedar.com within 45 days.
The Measured, Indicated, and Inferred Mineral resources reported herein are contained within a floating cone pit shell to demonstrate "reasonable prospects for eventual economic extraction" to meet the definition of Mineral Resources in NI 43-101. Please see notes at the end of the release for more detail on the parameters utilized for constraining the Altar Resource Estimate.
Data Verification and QA/QC
The data described above is supported by using industry standard QA/QC procedures consisting of the insertion of certified standards and blanks into the sample stream and utilizing certified independent analytical laboratories for all assays. Historical QA/QC data and methodology on the project were reviewed and will be summarized in the NI 43-101 Technical Report.
Table 3. Altar East & Central Open Pit Mineral Resource by Cut-off | ||||||
$ NSR Cut-off | CuEq Cut-off | Category | Tonnes(M) | Cu(%) | Au(g/t) | Ag(g/t) |
Measured | 1,026.7 | 0.34 | 0.08 | 0.88 | ||
4.67 | 0.107 | Indicated | 1,151.9 | 0.30 | 0.06 | 0.75 |
Inferred | 528.7 | 0.26 | 0.05 | 0.58 | ||
Measured | 846.0 | 0.39 | 0.09 | 0.95 | ||
9.17 | 0.2 | Indicated | 849.9 | 0.36 | 0.07 | 0.85 |
Inferred | 330.0 | 0.34 | 0.05 | 0.67 | ||
Measured | 622.1 | 0.44 | 0.10 | 1.04 | ||
13.99 | 0.3 | Indicated | 576.1 | 0.42 | 0.08 | 0.96 |
Inferred | 189.2 | 0.42 | 0.06 | 0.80 | ||
Measured | 385.2 | 0.52 | 0.12 | 1.17 | ||
18.81 | 0.4 | Indicated | 322.7 | 0.49 | 0.09 | 1.10 |
Inferred | 97.5 | 0.51 | 0.08 | 0.96 | ||
Measured | 222.8 | 0.61 | 0.15 | 1.29 | ||
23.64 | 0.5 | Indicated | 188.3 | 0.55 | 0.10 | 1.21 |
Inferred | 60.8 | 0.57 | 0.09 | 1.05 | ||
See Notes at end of release for details. |
Table 4. QDM Gold Pit Mineral Resource by Cut-Off | |||||||
$ NSR Cut-off | Oxide AuEq Cut-off | Sulphide AuEqCut-off | Category | Tonnes(M) | Au(g/t) | Ag(g/t) | Cu(%) |
Measured | 15.8 | 0.81 | 3.59 | 0.06 | |||
13.17 | 0.70 | 0.33 | Indicated | 4.2 | 0.68 | 3.74 | 0.06 |
Inferred | 1.2 | 0.58 | 5.34 | 0.03 | |||
Measured | 14.8 | 0.84 | 3.61 | 0.06 | |||
15.00 | 0.80 | 0.38 | Indicated | 3.5 | 0.73 | 3.79 | 0.06 |
Inferred | 1.0 | 0.64 | 5.77 | 0.03 | |||
Measured | 12.1 | 0.92 | 3.77 | 0.07 | |||
20.00 | 1.07 | 0.50 | Indicated | 2.4 | 0.82 | 3.52 | 0.07 |
Inferred | 0.5 | 0.65 | 5.38 | 0.04 | |||
See Notes at end of release for details. |
Future Exploration
The Company believes there may be significant untapped potential to find higher grade mineralization at the Altar project. Known mineralization at three additional porphyry centres, Radio porphyry, QDM porphyry, and Altar North, has not been included in this resource estimate due to insufficient drilling, but with additional drilling these zones do offer significant opportunities to contribute to future resource estimates. The current drill campaign is targeting extensions of known higher grade mineralization. In addition to these extensions, the Company believes there may still be additional porphyry discoveries to be made and have several targets identified to test in the 2021 and 2022 field seasons. Currently, there are two drill rigs on site at Altar, and the Company is also completing a district-scale 3D IP-MT geophysical survey and additional talus fine surface geochemistry sampling to help with future exploration targeting.
Qualified Person
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, FAusIMM, Chief Geological Officer (CGO) and director of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
Notes:
ON BEHALF OF THE ALDEBARAN BOARD
“John Black”
John BlackChief Executive Officer and Director
For further information, please consult our website at www.aldebaranresources.com or contact:
Laura BrangwinInvestor Relations ManagerPhone: +1 646 583-1404 Email: laura.brangwin@aldebaranresources.com
About Aldebaran Resources Inc.
Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran acquired the Rio Grande copper-gold project located in Salta Province, Argentina from Regulus along with several other early-stage projects in Argentina. Aldebaran also has the right to earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater. Altar hosts several large porphyry copper-gold systems with mineralization currently defined in six distinct zones. The Altar project forms part of a more regional cluster of world-class porphyry copper deposits, which includes Los Pelambres (Antofagasta Minerals), El Pachon (Glencore), and Los Azules (McEwen Mining). A total of 259 drill holes (119,052 m) have been completed at Altar between 1995 and 2020. Aldebaran’s primary focus is the Altar project with a view to discovering new zones with higher-grade mineralization.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements regarding Aldebaran, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Aldebaran's control. Often, but not always, forward-looking statements or information can be identified using words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Aldebaran expects or anticipates will or may occur in the future, including the proposed exploration and development of the Altar project described herein, and management's assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Aldebaran's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Aldebaran believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and Aldebaran does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
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