Aldebaran Announces Commencement of Trading

CBJ Newsmakers


VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) — Aldebaran Resources Inc. (“Aldebaran” or the “Company“) (TSX-V: ALDE) is pleased to announce that its common shares have been approved for listing on the TSX Venture Exchange and will begin trading under the symbol “ALDE” on November 2, 2018 as a Tier 2 Mining Issuer.  This announcement follows the recent closing of the plan of arrangement (the “Arrangement“) between the Company, Regulus Resources Inc. and Sibanye Gold Limited. In connection with the Arrangement, Aldebaran has entered into the previously announced joint venture and option agreement (the “JV Agreement“) with Stillwater Canada LLC, an indirect subsidiary of Sibanye Gold Limited, to acquire up to an 80% interest in the Altar Copper-Gold project in San Juan Province, Argentina (“Altar” or the “Altar Project“).

About Aldebaran Resources Inc.

Aldebaran is a recently formed mineral exploration company that was spun out of Regulus Resources Inc. 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 earlier 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.  Aldebaran’s primary focus will be on the Altar project with a view to discovering new zones with higher-grade mineralization.

Board and Management of the Company

The board of directors of the Company is comprised of John Black, Mark Wayne, Kevin B. Heather, Fernando Pickmann, Gordon Leask and John Sibley. Management of the Company is comprised of John Black, Chief Executive Officer, Mark Wayne, Chief Financial Officer and Kevin B. Heather, Chief Geological Officer. Additional information on Aldebaran, including biographies of the new board members and management are included in the Company’s Listing Application (TSX Venture Exchange Form 2B) dated October 30, 2018 available on SEDAR at

Escrowed Securities and Other Resale Restrictions

Aldebaran has 77,635,959 Common shares outstanding. In accordance with the policies of the TSX Venture Exchange, an aggregate of 55,773,140 common shares of the Company (the “Escrowed Shares“) will be held in escrow pursuant to an escrow agreement (the “Escrow Agreement“) among the Company, Computershare Trust Company of Canada, as escrow agent, and the principal shareholders of the Company. The Escrowed Shares will be released from escrow as follows: 25% upon issuance of the Final Bulletin; 25% on the date that is six months after the date of the Final Bulletin; 25% on the date that is 12 months after the date of the Final Bulletin; and 25% on the date that is 18 months after the date of the Final Bulletin.

John Black, CEO of Aldebaran, commented as follows:

“We are very excited to begin this new venture with Aldebaran. Our primary focus will be on the Altar Project, one of the few large undeveloped copper-gold porphyry projects that is not held by a major mining company.  Aldebaran has the right to earn up to an 80% interest in this project on terms that we think are very favourable, as the bulk of the acquisition cost will be incurred by spending money on exploring the property.  We believe that there is considerable untapped upside in the project in the form of new zones of higher-grade mineralization and we look forward to testing our vision with our first drill program commencing in January 2019.

Project Highlights

Aldebaran’s projects include the more advanced Altar copper-gold porphyry project, the Rio Grande copper-gold porphyry project, the Aguas Calientes gold-silver epithermal vein project and a several other early stage projects in northern Argentina.  Collectively the projects present a strong portfolio of opportunities for discovery and represent a good range of development stage.  Summaries of the key projects are listed below. The immediate focus of exploration activity will be on the Altar project with a drill program scheduled to commence in January 2019.  This drilling will focus on delineation of higher-grade zones of mineralization within the extensive area of known mineralization at the project.  Details of this drilling program are currently being formulated.  

Altar Project

The Altar Project is a copper-gold-(silver-molybdenum) porphyry deposit located approximately 10 km from the Argentina-Chile border and 180km west of the city of San Juan in San Juan Province, Argentina. Altar forms part of a cluster of world-class porphyry copper deposits which includes: Los Pelambres (Antofagasta Minerals) located 25 km to the south, El Pachon (Glencore) located 28 km to the south, and Los Azules (McEwen Mining), located 50 km to the northeast.

The Altar Project consists of several mineralized porphyry centers (QDM, Radio, Altar North, Altar Central, Altar East) aligned along a six-kilometer-long ESE-trending structural corridor. A total of 251 drill holes totaling 113,428 meters have been completed at the Altar Project between 1995 – 2018. Four new drill holes were completed during the 2018 field season and were reported by Sibanye-Stillwater on their website on September 10, 2018.

In mid-2018 an updated NI 43-101 resource was prepared for Altar (see Table 1) by Independent Mining Consultants Inc (IMC) based on the drilling completed up to 2017.  The updated Altar NI 43-101 report is available on Aldebaran’s SEDAR profile at  

Table 1: Altar Mineral Resources (July 2018)
Total Altar and Quebrada de la Mina, Mineral Resources1
Classification Cut-off
NSR $/t
Mineral Resources Contained Metal
Ktonnes NSR
Cu %
Cu %
Sulfide Cu
Million Lbs
Ozs x 1000
Ozs x 1000
Measured + Indicated
4.67 at Altar
13.17at QDM
Inferred   556,554 $12.89 0.283 0.279 0.061 0.88 0.022   3,420 1,087 15,703
The resource statement is included within a floating cone defined with the following metal prices:
                $2.75/lb Copper, $1,179/oz Gold, $22.79/oz Silver
Copper and Arsenic grades are in percent of dry weight.
Gold and Silver grades are in grams per metric tonne.
Sulfide copper reflects the estimated grade of copper that could be processed by sulfide flotation.
There are no mineral reserves at Altar or QDM at this time.
Gold and Silver contained are in Thousands of Troy Ounces.
Weighted average grade calculations may not balance due to rounding.

Primary hypogene mineralization is hosted by multiple phases of intermediate to felsic intrusions associated with multi-generation, strong quartz and/or anhydrite sheeted veins and stockworks that contain variable portions of chalcopyrite, bornite, pyrite, and molybdenite within both potassic and sericitic alteration zones. Altar stands out from the other large porphyry deposits within the regional cluster by having a higher gold content, which contributes to the overall metal tenner. Additional mineralization occurs within a supergene enrichment blanket consisting predominately of chalcocite.

Rio Grande Project:

The Rio Grande Cu-Au porphyry project is located in the Puna Region, Salta Province, NW Argentina. The project is favorably located along the NW-trending Archibarca Lineament, which also controls the location of the world-class Escondida porphyry Cu deposit (BHP-Billiton), located 150 km to the west-northwest in Chile.

To date, a total of 130 drill holes totaling 74,210 meters have been drilled at Rio Grande.  Copper‑gold mineralization at Rio Grande occurs within the eroded central core of a mid‑Miocene intrusive and volcanic center and is expressed as a large area (2 km by 2 km) of well‑defined, coincident copper‑in‑soil, gold‑in‑soil, and induced polarization (IP) chargeability anomalies.  Mineralization identified to date occurs in a steeply inward dipping conical ring zone and consists of a chalcopyrite‑magnetite assemblage that has been partially to very locally completely oxidized to depths of approximately 300‑400 m, with sulphide mineralization remaining open to depth.

A mineral resource estimate recently prepared by RPA for the Rio Grande Project as of August 17, 2018 is summarized in Table 2.  This report supersedes the previous 43-101 report on the project (January 19, 2012) which was based on less drilling and had no pit constraints on the reported mineralization.  The updated Rio Grande NI 43-101 report is available on Aldebaran’s SEDAR profile at  

Aldebaran Resources Inc. – Rio Grande Project
Class/Oxidation Tonnes
Cu (%) Au (g/t) Ag (g/t) Cu (Mlb) Au (koz) Ag (Moz)

Oxide 46.4 0.27 0.33 2.5 274.2 492 3.8
Transition 24.6 0.36 0.41 4.4 194.3 323 3.5
Indicated Total 71.0 0.30 0.36 3.2 468.6 815 7.3

Oxide 32.4 0.21 0.27 2.6 153.3 15 2.7
Transition 8.6 0.29 0.34 3.5 55.1 93 1.0
Inferred Total 41.0 0.23 0.28 2.8 208.4 375 3.6
  1. CIM (2014) definitions were followed for Mineral Resources.
  2. Mineral Resources are reported within a preliminary open pit resource shell.
  3. Mineral Resources are estimated at a net smelter return (NSR) cut-off grade of US$8.00/t for Oxide, US$12.00/t for Transition and US7.50/t for Sulphide. No sulphide material was captured in resource shell.
  4. Mineral Resources are estimated using a long-term gold price of US$1,400 per ounce, copper price of US$3.50 per pound.
  5. Bulk density is 2.41 t/m3 oxide, 2.50 t/m3 oxide and 2.62 t/m3 sulphide.
  6. Numbers may not add due to rounding.

Aguas Calientes Project:

The Aguas Calientes project comprises a 4,835 hectares single claim 100% owned by Aldebaran located in Jujuy Province, NW Argentina.

Emplaced within a favorable structural setting on an extensional horst and graben basin related to “Calama – Olacapato – El Toro” lineament. Aguas Calientes is an intermediate sulfidation Au-Ag mineralized system associated with silica-(clay) alteration in Miocene volcanic and volcanoclastic rocks and in adjacent sedimentary sequences of Late Cretaceous and Tertiary age. Gold and silver mineralization are primarily related to silicified breccias found in abundant well mineralized, silicified float boulders occurring along a ~6km strike length.

Gold values are commonly in the 2 to 5 g/t range, but are locally as high as 41 g/t. These mineralized boulders occur mostly along the main drainage valley but extend as much as 20 meters up the eastern slopes of the valley. Given their distribution, size and angularity, it is most likely that they reflect veins and breccias within the underlying bedrock, but they have been transported downslope short distances.  Mapping has identified probable sources for the mineralized boulders and this project is permitted for drilling, which may be considered for a mid-2019 drilling campaign upon completion of the drilling at the Altar project.

For further information on Aldebaran Resources, please consult our website at or contact:

Aldebaran Resources Inc.
John E. Black, CEO / Director
Phone: +1 303 618-7797 mobile
+1 720 514-9036 office

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 Geologic Officer of Aldebaran, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Reader Advisories

The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking statements or information. In particular this press release contains forward-looking statements and information relating Aldebaran’s plans in respect of the Altar Project. Although Aldebaran believe that the expectations and assumptions on which the forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Aldebaran cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward-looking statements and information contained in this press release are made as of the date hereof and Regulus and Aldebaran undertake no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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.