VANCOUVER, British Columbia, April 15, 2025 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. ("Aldebaran" or the "Company") (TSX-V: ALDE, OTCQX: ADBRF) is pleased to announce that field activities are progressing very well at the Altar copper-gold project, with 18,267.5 m of drilling having been completed to date. 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 (see Company news release dated November 7, 2024)
- 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 locations of all active and completed drill holes can be found in Figure 1. 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.
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, FGS, Chief Geological Officer and director of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
ON BEHALF OF THE ALDEBARAN BOARD
(signed) "John Black"
John Black
Chief Executive Officer and Director
Tel: +1 (604) 685-6800
Email: info@aldebaranresources.com
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For further information, please consult our website at www.aldebaranresources.com or contact:
Ben Cherrington
Manager, Investor Relations
Phone: +1 347 394-2728 or +44 7538 244 208
Email: ben.cherrington@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 holds a 60% interest in the Altar copper-gold project in San Juan Province, Argentina and is proceeding to formalize an earn-in of an additional 20% interest. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porphyry copper deposits which includes Los Pelambres (Antofagasta Minerals), El Pachón (Glencore), and Los Azules (McEwen Copper). In November 2024, the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants, Inc., including the three main porphyry discoveries (Altar Central, Altar East, and Altar United) reported within a single conceptual open pit and based on the drilling completed up to and including 2024 (independent technical report prepared by Independent Mining Consultants Inc., Tucson, Arizona, titled "Technical Report Estimated Mineral Resources, Altar Project, San Juan Province, Argentina", dated November 25, 2024 - see news release dated November 25, 2024).
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 by the use of 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.
Figure 1: Location map of drill holes completed in the 2024/2025 field season
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/190cde9f-66a3-4e63-a384-0a0360c2705c
