Business
Aldebaran Resources Announces It Has Earned a 60% Interest in the Altar Project and is Advancing Towards Earning an 80% Interest
VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased t
About this update from Aldebaran Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF), is pleased to announce it has completed the US$30 million in expenditures required to earn a 60% interest in the Altar copper-gold project pursuant to its joint venture agreement with Sibanye-Stillwater. Additionally, the Company has notified Sibanye-Stillwater that it intends to proceed with the second option to spend US$25 million over a three-year period to acquire an additional 20% interest in the Altar project. Upon completion of the second option, Aldebaran will own an 80% interest in the Altar project while Sibanye-Stillwater will own a 20% interest. As of June 30, 2023, the Company has spent approximately US$38 million on the project. John Black, Chief Executive Officer of Aldebaran, commented as follows: “We’re happy to report that we’ve officially earned a 60% interest in the Altar project and are on our way to earning an eventual 80% interest. When we picked up this project in 2018, we understood that it had immense potential; however, it has exceeded our expectations on several fronts. Altar represents one of the largest undeveloped copper projects in the world, and we are excited to continue to unlock its potential to help supply necessary copper resources to fuel the worldwide green energy revolution.” ON BEHALF OF THE ALDEBARAN BOARD (signed) “John Black” John BlackChief Executive Officer and DirectorTel: +1 (604) 685-6800Email: [email protected] Please click here and subscribe to receive future news releases: https://aldebaranresources.com/contact/subscribe/ For further information, please consult our website at www.aldebaranresources.com or contact: Ben CherringtonManager, Investor RelationsPhone: +1 347 394-2728 or +44 7538 244 208Email: [email protected] 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 has the right to earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater Limited. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porp...