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Aldebaran Resources Reports Additional Drill Results from the Altar Copper-Gold Project and Announces Exercise of Warrants by Route One and Senior Management
VANCOUVER, British Columbia, May 11, 2022 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) reports additi
About this update from Aldebaran Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, May 11, 2022 (GLOBE NEWSWIRE) -- Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) reports additional drill results from its ongoing drill program at the Altar copper-gold project in San Juan, Argentina. The holes reported herein are QDM-21-044 and QDM-22-046, and the remainder of QDM-22-045 (the top 457 m of QDM-22-045, which returned 14.9 m of epithermal gold mineralization at 19.08 g/t Au, was previously reported by the Company on February 24, 2022). All three holes encountered long intercepts of copper-gold mineralization with QDM-21-044 also hitting an attractive gold intercept (100 m of 1.15 g/t Au from 13 m depth) in the top of the hole. QDM-21-044 and QDM-22-046 encountered technical challenges that resulted in the holes deviating greatly and missing their intended targets at depth; however they both still encountered long runs of copper-gold mineralization that appear to be defining the southwestern limit of the Radio copper-gold system. Mineralization remains open in all other directions and drilling is now focussing more to the northwest, north and east. Several additional drill holes are complete with assays pending and drilling is ongoing at site with four diamond drill rigs currently active. The Company also would like to announce the exercise by its largest shareholder, Route One Investment Company LLC, and senior management, of 3,571,499 previously issued common share purchase warrants with an expiry date of September 15, 2022 and a strike price of $0.70. The warrants will be exercised on or before May 17, 2022, for anticipated gross proceeds to the Company of $2,500,049. Highlights QDM-21-044 An upper gold-rich zone returning 100 m of 1.15 g/t Au from 13 m Including 2 m of 5.77 g/t Au from 23 m Including 22 m of 1.84 g/t Au from 67 m Including 2 m of 5.67 g/t Au from 75 m This intercept drilled through the conceptual pit for the QDM Gold deposit, however grades were higher than anticipated A lower copper zone returning 858.70 m of 0.35% CuEq from 582 m QDM-22-045 804.40 m of 0.44% CuEq from 546 m Including 182 m of 0.61% CuEq from 865 m And 75.40 m of 0.65% CuEq from 1,083 m And 28 m pf 0.69% CuEq from 1,262 m QDM-22-046 593 m of 0.38% CuEq from 142 m Including 32 m of 0.56% CuEq from 168 m John Black, Chief Executive Officer of Aldebaran, commented...