Aldebaran Resources Announces Commencement of Drilling at Aguas Calientes Gold-Silver Project
VANCOUVER, Oct. 28, 2019 - 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 / Director
Phone: +1 303 618-7797 mobile
+1 720 514-9036 office
Email: john.black@aldebaranresources.com
Adam Greening
Vice President, Corporate Development
Phone: +1 647 923 7799
Email: adam.greening@aldebaranresources.com
Laura Brangwin
Manager, Investor Relations
Phone: +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
