Aldebaran Resources Inc.
("
Aldebaran" or the "
Company")
(TSX-V: ALDE) announces the results of the drill
program completed at its 100% owned Aguas Calientes Au-Ag
epithermal project located in southernmost Jujuy Province,
northwestern Argentina. Eleven drill holes totaling 2,316.20 m were
completed.
The most encouraging results were intercepted in
hole ACA-19-23 where anomalous gold associated with favourable
trace elements (i.e., arsenic and antimony) was encountered in
several wide intervals of well-developed intermediate-sulfidation
style epithermal mineralization within strongly altered volcanic
rocks (Table 1). The mineralized intervals, while lower-grade, are
the first significant wide-intercepts of epithermal-style
mineralization and alteration encountered at Aguas Calientes
despite two historical drilling campaigns conducted by previous
owners. The mineralization appears to be similar in nature to the
high-grade float-boulders on surface which were used to help create
drill targets. The significance of these drill results combined
with the approximately six kilometre long float-train of
mineralized boulders (Figure 1) confirms our belief that we have
intersected the edge of a gold-silver epithermal vein system that
may be partially covered by post-mineral volcanic rocks towards the
west. Management will be evaluating these results and looking at
additional work such as geological mapping, additional surface
prospecting, and geophysical surveys to look under the post-mineral
cover rocks in favourable areas to the west of the Silon zone drill
intercepts. Collar locations for all drill holes can be found on
Figures 2 and 3.
Dr. Kevin B. Heather, Chief Geological
Officer of Aldebaran, commented as follows:
“Although we didn’t hit any high-grade mineralization, the first
ever epithermal vein intercepts in Hole 23 at Aguas Calientes prove
that epithermal-style mineralization exists on the property. We
have six kilometres of well mineralized float-boulders that have
not been transported very far and therefore must be coming from a
source nearby. The intercepts in Hole 23 may represent the edge of
the potential source of the boulders and certainly justify follow
up work.”
Table 1 – Aguas Calientes Drill Results
Hole Number |
From (m) |
To (m) |
Length (m) |
True Width (m) |
Au (g/t) |
Ag (g/t) |
As (ppm) |
Sb (ppm) |
Au Eq (g/t) |
ACA-19-023 |
111.25 |
132.00 |
20.75 |
14.67 |
0.43 |
4.33 |
406 |
345 |
0.49 |
ACA-19-023 |
242.00 |
254.00 |
12.00 |
8.30 |
0.16 |
4.07 |
776 |
212 |
0.21 |
ACA-19-023 |
265.00 |
271.00 |
6.00 |
4.15 |
0.19 |
2.63 |
333 |
145 |
0.23 |
ACA-19-023 |
283.40 |
287.00 |
3.60 |
2.49 |
0.24 |
2.16 |
485 |
151 |
0.26 |
ACA-19-023 |
316.00 |
346.00 |
30.00 |
20.50 |
0.21 |
5.38 |
561 |
341 |
0.28 |
The grades are uncut. Au Eq values were calculated using gold and
silver. Metal prices utilized for the calculations are
Au=US$1,400/oz, and Ag=US$18/oz. All intervals presented above
consist of sulphide mineralization. No adjustments were made for
recovery as the project is an early stage exploration project and
metallurgical data to allow for estimation of recoveries is not yet
available. The formulas utilized to calculate equivalent values are
Au Eq (g/t) = Au g/t + (Ag g/t * 0.0129). |
Geological Background and Discussion of
Results
The current drill program was designed to test
several targets identified during reconnaissance field mapping and
prospecting of mineralized and highly anomalous float-blocks and
sub-outcrop samples occurring within a seven-kilometre-long,
NNW-striking topographic low that transects the entire Aguas
Calientes property (Figure 1). There is a higher concentration of
mineralized float-blocks in two large areas, the Silon zone in the
north and the Boulder zone in the south (Figures 2 and 3). The
sub-angular float-block samples are contained within locally
transported talus and alluvial fan deposits, which emanate from
below younger, fresher-looking, volcanic rocks that form the
immediately adjacent high hills. These younger volcanic rocks range
in thickness from 0-120 metres and cover older strongly altered
volcanic rocks and locally sub-cropping, silicified and mineralized
structures. In addition to the silicified vein-breccia float-block
samples, numerous large float-blocks of iron-cemented breccia
(ferricrete) containing clasts of finely bedded and silicified
sinter-like sediments (indicative of the uppermost portion of an
epithermal system) were found and sampled and returned highly
anomalous values up to 0.84 g/t Au and 5.6 g/t Ag.
A total of five targets were drill tested during
this drill campaign. In the Silon zone, two sub-cropping silicified
structures are called Target 1 and Target 2 (Figure 2) and two less
defined targets called Target 4 and Target 5. In the Boulder zone,
one target was tested called Target 3 (Figure 3).
Silon Zone - Target 1
Drill Hole ACA-19-021 was
drilled with an azimuth of 230 degrees and an inclination of -50
degrees to a final depth of 221 m. The purpose of this hole was to
test 50 m below an outcropping, NW-striking, gold-bearing
silicified breccia, hosted by altered Miocene pyroclastic rocks.
Multiple historical samples taken at surface from this silicified
breccia assayed consistently over 1 g/t Au. Hole ACA-19-021
intercepted moderate clay-pyrite alteration and several narrow
intervals from 82 to 104 m depth and from 161 to 169 m depth of
silicified breccia-dykes with milled-matrixed breccias and weak
silicification. The entire drill hole has anomalous arsenic
(100-800 ppm) with the lower interval from 161 to 169 m returning
0.16 g/t Au.
Drill Hole ACA-19-022 was
drilled from a pad ~15 m to the north of hole 21 to a depth of 170
m and was designed to test the same silicified breccias structure
as hole 21, but at a depth of 100 m below surface. The hole
intercepted several narrow milled-matrixed breccia dikes with
hydrothermal alteration and very anomalous arsenic (100-2200
ppm).
Drill Hole ACA-19-023 was
collared 110 m to the northwest and uphill from hole ACA-19-022 and
it was drilled at an azimuth of 225 degrees and an inclination of
-45 degrees to a final depth of 397.8 m. The purpose of the hole
was to test the occurrence at depth of the inferred NW extension of
the Silon Target 1 silicified, gold-bearing breccia structure. The
hole intercepted several wide intervals of strongly altered Miocene
pyroclastic rocks with zones of well-developed
intermediate-sulfidation style mineralization associated with
narrow milled-matrixed breccia zones with residual quartz textures
and strong open-space infilling by pyrite-tennantite-quartz.
Several gold-anomalous zones were encountered (Table 1) within a
broader zone of high arsenic and antimony which extends the full
length of the drill hole.
Drill Holes 21, 22 and 23 all encountered highly
altered volcanic rocks with anomalous values of arsenic and in the
case of hole 23 anomalous gold, arsenic and antimony. Holes 21 and
22 appear to have drilled under a more flat- to inclined-lying zone
(topographic slope controlled) of silicification which is
interpreted to possibly be an out-flow zone coming topographically
downhill from an as yet to be discovered up-flow zone located
somewhere uphill from holes 21 and 22 and related to the
paleosurface and unconformity which is covered by the younger
volcanic rocks located immediately to the west of these holes. Hole
23 is the closest hole to-date to this unconformity and suggests
that the potential upflow zone is not far away.
Silon Zone - Target 2
Drill Hole ACA-19-024 was
drilled with an azimuth of 240 degrees and an inclination of -60
degrees to a final depth of 155 m. The purpose of this hole was to
test 100 m below a sub-cropping, NW-striking, gold-bearing
silicified breccia, hosted by clay-pyrite and smectite-chlorite
altered Miocene pyroclastic rocks. The hole intercepted a wide zone
(68 to 140 m) of anomalous arsenic (100-1190 ppm), but no gold or
silver.
Drill Hole ACA-19-025 was
drilled from a pad located ~15 m to the north of hole 24 with an
azimuth of 252 degrees and an inclination of -45 degrees to a final
depth of 98.4 m. The purpose of this hole was to test the same
structure as hole 24 but at a slightly different azimuth based on
silicified surface structures. The hole intercepted clay-pyrite
alteration until 6 m depth and then passed into very weak
smectite-chlorite altered pyroclastic rocks. The hole intercepted a
wide zone (35 to 98.4 m) of anomalous arsenic (100-1310 ppm), but
no gold or silver.
Silon Zone - Target 4
Drill Hole ACA-19-026 was
drilled with an azimuth of 225 degrees and an inclination of -45
degrees to a final depth of 245 m. The purpose of this hole was to
test a completely blind target covered by younger landslide
material coming from the west. The underlying subcropping rocks in
the area around the landslide consist of strongly altered
pyroclastic rocks with narrow silicified structures and abundant
historical float-block surface samples returning multiple grams per
tonne gold values. The hole intercepted several narrow,
milled-matrixed breccia zones hosted by clay-pyrite altered Miocene
pyroclastic rocks throughout the entire length of the hole. The
hole is strongly anomalous in arsenic from 0 to 178 m and
intercepted a one metre wide zone from 57 to 58 m which assayed
0.70 g/t Au.
Drill Hole ACA-19-028 was
collared 130 m to the east of hole 26 and drilled with an azimuth
of 185 degrees and an inclination of -55 degrees to a final depth
of 230 m. The purpose of this hole was to test the extension at
depth of a gold-bearing silicified breccia outcrop hosted by strong
to intense clay altered pyroclastic rocks. The intercepted strong
clay-pyrite altered pyroclastic rocks from 0 to 30 m depth and then
moderate smectite-clay-(pyrite) altered rocks until the end of the
hole. Two strongly anomalous arsenic zones were encountered, from 0
to 89 m (100-500 ppm) and from 187 to 221 m (100-2700 ppm) with
only a few very narrow zones with gold values around 0.1 g/t.
Silon Zone - Target 5
Drill Hole ACA-19-031 was
drilled with an azimuth of 210 degrees and an inclination of -45
degrees to a final depth of 195 m. The purpose of this hole was to
test directly below a NW-trending zone of strong to intense
clay-pyrite alteration and silicified structures. This altered zone
continues underneath younger volcanic units laying unconformably
over the Miocene pyroclastic rocks. Abundant gold-bearing,
silicified boulders (many with values over 1 g/t Au) are found
downslope and appear to be emanating from below the unconformity.
Hole intersected several narrow milled-matrixed breccia zones
hosted within the Miocene pyroclastic units from the top of the
hole to 132 m depth. The hole is strongly anomalous in arsenic
(100-2820 ppm) from 0 to 143 m, but most of it remains below the
detection limit for gold and silver.
Boulder Zone - Target 3
Drill Hole ACA-19-027 was
drilled with an azimuth of 190 degrees and an inclination of -45
degrees to a final depth of 267 m. The purpose of this hole was to
below a prominent east-west trending ridge that was thought to be
the source of abundant silicified breccia float-boulders which ran
multiple grams-per-tonne based on historical sampling.
Unfortunately, the hole intersected a massive package of
conglomerates from surface to 187.5 m depth and then passed into
mostly unaltered, biotite-rich fragmental pyroclastic unit
underneath. The conglomerate unit contained is anomalous in arsenic
(100-534 ppm) and contained several silicified clasts that were
slightly anomalous in gold, however the conglomerate unit itself is
post-mineralization.
Drill Hole ACA-19-029 was
drilled with an azimuth of 240 degrees and an inclination of -45
degrees to a final depth of 150 m. The purpose of this hole was to
test underneath a saddle on top of a ridge that defines Target 3,
were a cluster of silicified, high-grade gold float-boulders
appeared to be emanating and falling to the sides of the hill.
Historical assays from these boulders were mostly over 3 g/t gold
with one sample returning 12.85 g/t gold. Unfortunately, the hole
encountered similar rocks to those found in hole 27 with the upper
140 m of the hole in conglomerates and then getting into very
weakly altered biotite-phyric pyroclastic rocks to the bottom of
the hole.
Drill Hole ACA-19-030 was
collared one-kilometre north from the Target 3 ridge described
above (Figure 3). The hole was drilled with an azimuth of 245
degrees and an inclination of -45 degrees to a final depth of 188
m. The purpose of this hole was to test an area where multiple
gold-bearing float-boulders were found coming downslope and from
below a visible near horizontal unconformity. Again, the hole cut
173.5 m of conglomerates and got into the same biotite-rich
pyroclastic unit found in holes 27 and 29. The hole didn’t
encounter any gold, silver or arsenic anomalous rocks.
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 / Director |
Phone: |
+1 303
618-7797 mobile |
|
+1 720 514-9036 office |
Email: |
john.black@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.
Sampling and Analytical Procedures
Aldebaran follows systematic and rigorous
sampling and analytical protocols which meet and exceed industry
standards. These protocols are summarized below and are available
on the Aldebaran website at www.aldebaranresources.com. All drill
holes are diamond core holes with PQ, HQ or NQ core
diameters. Drill core is collected at the drill site where
recovery and RQD (Rock Quality Designation) measurements are taken
before the core is photographed and geological quick log
produced. The core is then cut in half with a diamond saw
blade with half the sample retained in the core box for future
reference and the other half placed into a pre-labelled plastic
bag, sealed with a plastic zip tie, and identified with a unique
sample number. The core is typically sampled over a
systematic 1 to 2 metre sample intervals unless the geologist
determines the presence of an important geological contact, which
should not be crossed. The bagged samples are then stored in a
secure area pending shipment to a certified ALS laboratory sample
preparation facility located in Mendoza, Argentina, where the
samples are dried, crushed, and pulverized. The resulting sample
pulps are sent by batch to the ALS laboratory in Lima for
geochemical assay analysis, including a fire assay – AA finish
analysis for gold and a full multi-acid digestion with ICP-AES
analysis for other elements. Samples with results that exceed
maximum detection values for gold are re-analyzed by fire assay
with a gravimetric finish and other elements of interest are
re-analyzed using precise ore-grade ICP analytical techniques.
Aldebaran independently inserts certified control standards, coarse
field blanks, and duplicates into the sample stream to monitor data
quality. These standards are inserted “blindly” to the laboratory
in the sample sequence prior to departure from the Aldebaran
facilities.
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.
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.
Figure 1 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/91f86bee-4cbe-432d-a78b-9f391b347be9
Figure 2 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/98211bec-71fe-4a48-94a3-e9e5535f391d
Figure 3 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c89a72b-2e5e-4273-bbdb-4ee2a4654191
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aldebaran Resources (TSXV:ALDE)
Historical Stock Chart
From Jul 2023 to Jul 2024