Aldebaran Resources Inc.
("
Aldebaran" or the "
Company")
(TSX-V: ALDE) is pleased to provide a summary of a
newly developed geological-structural model for its flagship Altar
copper-gold project located in San Juan Province, Argentina. The
delivery of the first-ever, geological-structural model for the
Altar project, provides a strong foundation for the forthcoming
mineral resource estimate, which the Company expects to deliver by
the end of Q1 2021. The mineral resource estimate will be the first
created by Aldebaran on the Altar project (the 2018 resource
estimate was completed by the previous operator). The focus of the
updated mineral resource estimate is to highlight the higher-grade
portions of the various porphyry centres within the Altar project.
In addition, this model will help delineate possible extensions of
known higher-grade mineralization and identify new, previously
untested, exploration targets. This new, robust model is the result
of integrating various new geological, structural, hyperspectral,
and geophysical data sets collected by Aldebaran since assuming
control of the project (see Dec 3, 2020 press release).
Dr. Kevin B. Heather, Chief Geological
Officer of Aldebaran, commented as follows: “The
completion of this new geological model represents not only an
advancement in our technical understanding of the Altar cluster of
copper-gold porphyries, but also an important milestone in our
quest to unlock hidden value from the project. The collection and
integration of data sets that previously didn’t exist at Altar,
along with the re-logging of over 115,000 meters of drill core, has
highlighted numerous new geological features that we believe are
fundamental to controlling the higher-grade copper-gold
mineralization and better constraining the arsenic distribution;
both of which will ultimately enhance the upcoming mineral resource
estimate, as well as be critical in the development of new drill
targets moving forward.”
Key Takeaways From the Altar Geological-Structural
Model
- The current Altar mineral resource
model, released in 2018 and created by the previous operator of the
project, is based on a strictly geo-statistical model, and used
little geological constraints or inputs. The new Altar
geological-structural model offers for the first time a robust,
consistent, and more realistic framework on which to calculate a
new mineral resource estimate and to base any subsequent economic
analyses.
- Altar consists of at least five
large, mineralized porphyry centres aligned along a
7-kilometre-long corridor, with strong geological and geophysical
indications of potentially several more, yet to be discovered
centres:• Evidence of multiple, overprinting mineralized
intrusive phases within each of those porphyry centres, indicating
that there were multiple mineralizing events at
Altar.• Evidence that all the porphyries at the Altar project
are structurally controlled, something that previously had not been
identified, and should have material impacts on future drill
targets.
- Altar had previously been viewed as
a large, low-grade deposit. The Company has identified three
distinct zones of higher-grade mineralization and modeled the
structural and geological controls of these zones.
- There are two distinct styles of
mineralization at Altar which are now properly constrained in the
model:• Secondary supergene (oxide) mineralization which
occurs near surface and could potentially be amenable to SX-EW heap
leach technology.• Primary hypogene mineralization (sulphides)
which occurs throughout the project and could be concentrated and
ultimately shipped to a smelter.
- Arsenic, in the previous mineral
resource estimate, was unconstrained and because the estimate was
based on a geo-statistical model the perception was that there was
arsenic throughout the deposit. In reality, geological evidence
indicates that arsenic at the Altar project is hosted by narrow,
sub-vertical veinlets that occur within distinct structural zones
that have now been meticulously modelled in
three-dimensions:• Constraining the arsenic to these
structural zones in the new resource model should reduce the
overall arsenic content of the primary (hypogene) copper
mineralization.• A significant amount of the arsenic at the
Altar project occurs within the leach-cap and supergene zones and
therefore may reduce the impact of arsenic on a potential copper
concentrate, as the leach-cap rocks are not mineralized, and the
supergene rocks could potentially be processed by SX-EW heap leach
technology, which would not extract the arsenic.
Methodology
The new geological-structural model for the
Altar project consists of a three-dimensional block measuring 5.2
km (north-south) by 8.0 km (east-west) and ~2.8 km vertically from
surface, that was constructed in Leapfrog Geo by integrating and
interpreting the following datasets:
- Detailed re-logging of ~115,000 m
of historical drill core to capture a systematic and consistent
dataset of lithologies, alteration-types, mineralization-types, and
timing relationships
- Surface geological and structural
mapping
- Detailed ground magnetic data
- High-resolution, satellite-borne
hyperspectral data to identify zones of favourable alteration
- Regional and detailed structural
mapping and analysis
Importance of Using a Geological Model
Instead of a Geo-statistical Model
Previous mineral resource grade estimates at
Altar for Cu, Au, Ag and As were based primarily on geo-statistical
estimation methods with minimal geological constraint. The focus of
the Company since acquisition has been to collect and interpret
data to generate a comprehensive geologic model including major
faults, lithology, oxidation states, high sulfidation zones,
alteration zoning, etc. The upcoming mineral resource estimate will
represent a proper geologic constrained geo-statistical model that
provides a more realistic representation of the grade-tonnage
relationships at Altar.
Assuming an acceptable geologic model for an
orebody, a geologically constrained resource estimation will always
be better than a simple geo-statistically estimated resource
because it includes all the geologic knowledge, data and
interpretation to properly constrain the mineral resource
estimate.
Lithological Units
A total of 43 distinct lithological units were
defined from either drill core and/or surface geological mapping.
These 43 units were then simplified into 23 units based on similar
textures and compositions and these were then used in the
geological model and the upcoming resource update. Finally, these
23 units were further grouped into six time-stages, based on their
spatial and timing relationships. The relationships between the
various individual intrusive events with both alteration and
mineralization is shown in Figures 1 and 2.
Structural Domains
A total of 35 discrete fault-bounded structural
domains have been defined within the Altar project area (Figure 3).
These fault blocks have been defined based on regional structural
analysis, detailed field mapping and the sub-surface drill holes.
All the Altar porphyry centres exhibit a strong structural control
in terms of their emplacement, orientations of mineralization, and
local post-mineralization fault offsets. The importance of these
structural controls was not recognized or fully appreciated prior
to Aldebaran’s current work. The implications of these structural
domains are the identification within each of the porphyry centres
of:
- Preferred orientations of
higher-grade copper mineralization that can be more easily tested
for extensions in the cases where they are currently
open.• Each of the porphyry centres has its own set of
preferred orientations.
- Preferred orientations of
structural corridors containing narrow, subvertical
quartz-enargite-pyrite veinlet zones, which will better constrain
the distribution of arsenic.• Each of the porphyry centres has
its own set of preferred orientations.
- Post-mineral faulting and offsets,
on the order of 10s to potentially 100s of metres in some cases,
that have jostled the original mineralization distribution and
created opportunities for discovering new
mineralization.• Upthrown blocks may bring the mineralization
closer to surface, while downthrown blocks may have hidden better
mineralization below areas where there is currently only shallow
drilling.
Copper Equivalent (CuEq%) Grade Shell
Modeling
Using the new geological-structural model
described above as a framework, grade shells at different cut-offs
were modeled for copper, gold, and copper equivalent (Figures 4 and
5). The purpose of these grade shells is to better highlight the
distribution and geometry of the higher-grade mineralized zones and
will be used as guides for the upcoming mineral resource estimate
and to also highlight areas for additional resource extension
drilling.
Note: CuEq values were calculated using copper,
gold and silver. Metal prices utilized for the calculations are Cu
= US$3.00/lb, Au = US$1,400/oz, and Ag = US$18/oz. No adjustments
were made for recoveries.
Secondary (Supergene) Oxide and Sulphide
Copper (Cu%) Grade Shells
Special attention was given to modeling
secondary (supergene) copper zones. Most of this style of
mineralization occurs at Altar Central, however it is also observed
at QDM/Radio and Altar East. Identifying significant supergene
mineralization could have material economic impacts on the future
development of Altar as SX-EW technology is viewed as being less
capital intensive (see Figures 6 and 7).
Primary (Hypogene) Sulphide Copper
Distribution
The primary (hypogene) copper zones amenable to
traditional milling and flotation technology make up the bulk of
the known mineralization at the Altar Project. Primary copper
sulphide minerals include chalcopyrite (CuFeS2) and bornite
(Cu5FeS4) at QDM/Radio and Altar East, and chalcopyrite at Altar
Central (Figure 8).
Arsenic Distribution
Historically, there was a perception that
arsenic is a potential issue at Altar. Prior to Aldebaran acquiring
Altar, there had been no attempt to geologically constrain and
model the arsenic distribution. This, in addition to using a
geo-statistical model, resulted in arsenic being artificially
spread out in the 2018 resource model. A significant amount of the
arsenic at the Altar project occurs within the leach-cap and
supergene zones primarily above Altar Central (Figure 9). This
realization could have material impacts on the project as the
leach-cap rocks will not be processed as they have no
mineralization, and the supergene zone could potentially be
processed by SX-EW heap leach technology, which would not extract
the arsenic. Geological evidence indicates that the arsenic in the
primary (hypogene) mineralization is hosted by sub-vertical,
centimeter-scale quartz-enargite-pyrite veinlets that occur within
narrow, metre- to tens of metre-scale structural zones that have
now been meticulously modelled in three-dimensions, which will
better constrain the arsenic in the new resource model and reduce
the overall arsenic content of the reportable primary (hypogene)
copper mineralization.
Alteration Types
The principal alteration types identified and
modelled at Altar are Potassic-Biotite (PB), Potassic-K-Feldspar
(PK), Green Sericite ± Chlorite (GSC), Tourmaline-Quartz-Sericite
(TQS), White Sericite-Pyrite (WSP), Quartz-Pyrite-Clay (QPC),
Sericite-High-Sulphidation (SHS), Sericite-Base Metal Carbonate
(SBM), Chlorite (CHL), Gypsum-White Anhydrite (GYA), and Levander
Anhydrite (ANL). At least two potassic alteration events have been
documented (PBK1 and PBK2), which supports the concept that there
are multiple mineralizing porphyry intrusive events. Copper
mineralization is associated with both potassic alteration events,
as well as with the Green Sericite ± Chlorite (GSC) and the
Sericite-High-Sulphidation (SHS) alteration events. Figures 10 and
11 show the distribution and intensity of the potassic (PK + PB)
and green sericite-chlorite (GSC) alteration types, which are both
intimately associated with copper-gold mineralization.
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.
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 a large porphyry copper-gold system with
mineralization currently defined in three distinct zones. The Altar
project forms part of a 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 (124,701 m) have been completed at Altar between 1995
and 2019. In mid-2018 an updated NI 43-101 resource was prepared
for Altar by Independent Mining Consultants Inc. based on the
drilling completed up to 2017. The updated Altar NI 43-101 report
is available on Aldebaran's SEDAR profile at www.sedar.com.
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.
Figure 1: Altar time-space diagram showing the
various porphyry centres, magmatic stages, main porphyry intrusion
phases in relation to the alteration and mineralization events is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0633e6c3-d889-42ca-9870-9042698a087b
Figure 2: New geological-structural model for
the Altar project area is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/abd97a9b-eb38-48b1-8f80-5532b5a12ac0.
(A) Full project area with google earth image and topography, (B)
Full project area with google earth image and topography removed -
white dashed line is the cut surface represented in (C), (C) Cut
away to expose the porphyry centres at Radio, Altar Central and
Altar East.
Figure 3: Numbered structural blocks and
geological units is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0806304-50cb-4659-b25a-22910486c14d.
Black dots are the drill collars.
Figure 4: Copper Equivalent (CuEq%) grade shells
in plan view is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/736d82f9-3af5-4507-88d8-29b3cda00676.
Figure 5: Copper Equivalent (CuEq%) grade shells
in section view is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/220dadce-652b-40af-97f6-c74c98a36ad1.
Figure 6: Secondary (supergene) copper (Cu%)
plan view map is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ef1c1008-68b2-4a6d-9325-0ac12b91d9cf.
Figure 7: Secondary (supergene) copper (Cu%)
cross-section map is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/04799778-c80d-436d-918c-81ad1f22faf4.
Figure 8: Distribution of sulphide minerals is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9e6143fc-a933-4543-8841-084406ec18f5.
Figure 9: Arsenic distribution relation to the
0.5% Cu (black dashed line) and 0.7% Cu (magenta dashed line) grade
shells is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fd0a8061-54ca-4824-9b38-3c9c98d72358.
Note that most of the high arsenic is found within the leach cap
and secondary (supergene) copper zones.
Figure 10: Potassic alteration (PK+PB) in
relation to the 0.5% Cu (black dashed line) and 0.7% Cu (magenta
dashed line) grade shells is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/40856ca5-99c7-4667-bde2-f55df530d17b.
Figure 11: Green sericite-chlorite (GSC)
alteration in relation to the 0.5% Cu (black dashed line) and 0.7%
Cu (magenta dashed line) grade shells is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/387d3c1b-79ae-45f7-8e8d-6ff1725492f9.
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