Altar is one of one of the most important copper-gold projects of Argentina. Junior mining company Aldebaran Resources Inc. shared technical and corporate updates.
By Panorama Minero
So far this field season, the Company has completed:
• 5,977.5 m of drilling for metallurgical samples required for the Phase 2 Nuton leaching program
• Material for the Phase 2 Nuton leaching program has been selected and shipped to Nuton for analysis
• 12,310 m of drilling to infill areas of mineralization that are currently classified as inferred resources that will need to be upgraded to measured and indicated
• Where possible, these holes were designed to infill and upgrade known mineralization but also target areas classified as waste due to lack of drilling (undefined waste)
The Nuton drill holes were completed predominantly for metallurgical purposes and were not sent for traditional assaying. The infill holes completed have been sent for assaying with results pending.
Status of Earn-In Agreement with Sibanye-Stillwater
The Company announces that it has as at June 30, 2024 expended the additional US$25 million required to acquire an additional 20% interest in the Altar project from Sibanye-Stillwater. Following completion of the administration related to the earn-in, Aldebaran now owns an 80% interest in the Altar project, while Sibanye-Stillwater owns a 20% interest. The Altar project will as such be operated as a joint venture from June 30, 2024.
PEA Update
The Company has elected to delay the release of the PEA to Q3-2025 to allow additional time to develop both the Nuton and non-Nuton cases. Aldebaran is working with its consultants and partners to evaluate multiple development scenarios for the Altar project, including scenarios that could potentially allow for a faster permitting process and easier application for benefits under the RIGI tax regime in Argentina. The delay in releasing the PEA should allow the Company the necessary time to refine these plans.
