Aldebaran Resources Inc.
("
Aldebaran" or the "
Company")
(TSX-V: ALDE) is pleased to announce the
commencement of its Phase 1 drill program consisting of 2,500 m at
its 100% owned Aguas Calientes gold-silver project located in Jujuy
Province, Argentina.
The objective of the Phase 1 program is to test
targets within the Silon and Boulder zones, defined by over seven
km of mineralized float boulders, consisting of sub-angular,
rusty-weathered, strongly silicified heterolithic breccias,
pyroclastic volcanic rocks and rhyolite intrusive rocks, exhibiting
disseminated pyrite. Assays from boulders have locally produced
grades up to 40 g/t Au and 343 g/t Ag. Within the seven km boulder
field, 224 samples have returned assays greater than 0.5 g/t Au and
52 samples returned assays greater than 3 g/t Au (Figure 1).
Previous explorers focused exploration
initiatives directly in the areas of the two main boulder fields
believing the boulders were sourced in-situ. The Company believes
most of the samples are float-blocks hosted within locally-sourced
and transported paleo-alluvial fan deposits which emanate from
below younger, fresher-looking, volcanic rocks that form the
immediately adjacent hills (Figure 2). These younger volcanic rocks
range in thickness from 0-120 m and cover older strongly altered
volcanic rocks and locally sub-cropping, silicified and mineralized
structures. The extensive distribution of the mineralized float
blocks emanating from multiple paleo-alluvial fan deposits along a
seven km strike length is interpreted as a positive indication of
multiple vein structure sources that will require drill
testing.
Geological field evidence, abundance of
well-mineralized, locally-sourced and transported float-blocks over
a seven km strike-length, and results from a ground geophysical
survey indicate the presence of a potentially extensive,
thinly-covered, completely preserved, epithermal gold-silver vein
system.
John Black, Chief Executive Officer of
Aldebaran, commented as follows: “We are very excited
to begin our first drill campaign at Aguas Calientes. The goal of
this drill program is to identify the source of the significant
mineralized boulder train we see on surface. Our geological team
has extensive experience working in epithermal vein systems which
helped us to identify characteristics previous explorers missed,
primarily that the boulders were not sourced in-situ, but from
nearby alluvial fan deposits, which has direct implications for
exploration. We look forward to advancing this very exciting
gold-silver prospect.”
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.
For Further Information, please
contact:Aldebaran Resources Inc.
John E. Black CEO / DirectorPhone: +1 303 618-7797
mobile +1 720 514-9036
officeEmail:
john.black@aldebaranresources.com
Adam Greening Vice President, Corporate DevelopmentPhone:
+1 647 923
7799Email: adam.greening@aldebaranresources.com
Laura BrangwinManager, Investor RelationsPhone:
+447517313833
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 Aguas Calientes
project located in Jujuy 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 a large porphyry copper-gold
system with mineralization currently defined in three distinct
zones.
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 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/50819000-e28d-4e41-a588-92199566215c
Figure 2 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dae9b76a-9558-4336-bf29-6ddc54fadb47
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