Impact: Positive
Aldebaran (ALDE) reported assays from the final four holes of a 20-hole (~20,000m) drill program completed at its Altar Cu-Au porphyry project (option for 80%) in San Juan, Argentina. All four holes intercepted mineralization, including a highlight intercept of 0.69% CuEq over 742.9m, within 1,229.5m of 0.55% CuEq (ALD-24-150EXT) in the Altar East zone. The holes extended mineralization below the current pit shell and infilled gaps in drilling, and should feed into an updated MRE. We believe these are positive results as all four holes returned long intercepts yet still ended in mineralization. The current resource of ~15.2B lbs CuEq is entirely hosted in the Altar Central and Altar East areas of the property and does not incorporate ~63,000m of drilling completed since the last resource update in 2021. In our view, the results bode well for a potential >2x resource expansion.
