Aldebaran Expands Exploration Focus with New Spin-Out Company
Aldebaran Announces New Exploration Subsidiary for Argentine Projects
VANCOUVER, British Columbia — Aldebaran Resources Inc. (“Aldebaran” or the “Company”) (TSX-V: ALDE, OTCQX: ADBRF) is thrilled to share its plans for a strategic spin-out of its promising exploration projects in Argentina. This initiative aims to establish a new, dedicated Canadian subsidiary, currently referred to as "SpinCo," that will primarily focus on copper, gold, and silver exploration.
Leadership of SpinCo
One of the most exciting developments in this transition is the appointment of Sam Leung as the CEO and Director of SpinCo. With over 20 years of experience in the mining sector, particularly in South America, Leung brings a wealth of knowledge to the table. His impressive track record includes significant roles at Adventus Mining Corporation, Lundin Mining Corporation, and Hatch Ltd., showcasing his capability in advancing mining projects and corporate growth.
Projects Under SpinCo
The newly formed company will manage an extensive portfolio of exploration projects located in Salta, Jujuy, and Catamarca provinces. Each project carries unique potential:
Rio Grande Project
- Situated in the Salta Province, just 9 km from the operational Lindero heap leach project.
- This site has near-surface oxide and mixed resources ideal for heap leach extraction.
- Current resources include a Measured and Indicated (M&I) level of up to 71 million tonnes of 0.30% Cu, enriched with gold and silver, along with inferred resources offering exciting prospects for further mineralization.
- The project has historical drilling results indicating notable intercepts, raising the potential for copper-gold sulphide mineralization.
- Drilling permits are anticipated to be secured in H1 2026, paving the way for future operations.
Aguas Calientes Project
- Located in Jujuy Province, this project features abundant mineralized float boulders along a significant strike length.
- Aguas Calientes reveals the potential for a large, preserved epithermal gold-silver system.
- Past drilling has demonstrated promising results with highlighted intercepts showcasing robust precious metal grades.
- The project currently holds completed drill permits and is set for further exploration.
Additional Exploration Projects
- El Camino: With historical interest from Teck, this project hints at the potential for Iron Oxide Copper Gold (IOCG) mineralization.
- Oscara: This large land package in Salta Province suggests extensive copper-gold occurrences indicative of an IOCG system.
- La Frontera: Located in Catamarca Province, known for its significant silver results from historical trench samples.
- Catua: In Jujuy Province, this project is a copper oxide occurrence with much promise yet to be explored.
Strategic Steps Forward
According to John Black, the Chief Executive Officer of Aldebaran, this reorganization will not only empower shareholders but also ensure the continued advancement of their flagship Altar copper-gold project. Aldebaran will orchestrate this transition while Sam Leung establishes a dedicated team to focus on SpinCo's operations.
Anticipated Developments for SpinCo
As part of the next steps, SpinCo plans to:
- Finalize Formation: Detailed plans will be disclosed as they unfold, with an emphasis on maintaining project continuity.
- Secure Private Financing: Financing efforts to fund field programs in 2025/2026 are already underway.
- Conduct Field Programs: Essential geochemical and geophysical work will be completed to prepare projects for drilling.
- Pursue Public Listing: SpinCo aims for a public listing upon successful completion of the necessary arrangements.
- Establish Drill Programs: The company will focus on capital to fund drilling at emerging targets within key properties.
Updates on the Altar Project
Regarding the Altar copper-gold project, public reporting of its Preliminary Economic Assessment (PEA) is expected in the upcoming quarters, awaiting completion of a review by Nuton Holdings LLC. This critical assessment will be integral to guiding future project developments.
Joined Expertise and Strategic Vision
Sam Leung’s appointment not only signifies the beginning of a new chapter for Aldebaran but also illustrates the company's commitment to leveraging experienced leadership in navigating the complex mining landscape. His diverse expertise sets a solid foundation for SpinCo's successful operational launch.
Frequently Asked Questions
What is the purpose of SpinCo?
SpinCo aims to focus on advancing Aldebaran's exploration projects in Argentina, enhancing potential value through dedicated efforts.
How does Sam Leung contribute to SpinCo?
Sam Leung brings 20 years of international mining experience, having successfully led projects and contributed to significant growth in the industry.
What projects will SpinCo oversee?
SpinCo will oversee several projects, including Rio Grande and Aguas Calientes, which feature promising copper and gold resources.
What are the future plans for the Altar project?
The Altar project is expected to update its Preliminary Economic Assessment, enhancing operational insights and future growth opportunities.
How will the spin-out affect Aldebaran shareholders?
Shareholders will continue to retain exposure to the Altar project while receiving shares in SpinCo, thereby benefiting from both avenues of exploration.
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