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Aldebaran Signs Option to Joint Venture Agreement with Nuton Holdings Ltd. for the Altar Project in San Juan, Argentina

Nov 07, 2024•over 1 year ago

Contract Type

agreement

VancouverOther

Description

Aldebaran Resources Inc. has entered into an option to joint venture agreement with Nuton Holdings Ltd. for the Altar Project located in San Juan, Argentina. Nuton Holdings Ltd., a Rio Tinto venture, can acquire a 20% indirect interest in the Altar project by making staged payments totaling US$250 Million.

Company Information

Company

Aldebaran Resources Inc.

Location

SUITE 2710, 200 GRANVILLE STREET

Vancouver, British Columbia, Canada

About

Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 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 early-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 cluster of large porphyry copper-gold systems with mineralization currently defined in four distinct zones. The Altar project forms part of a larger cluster of world-class porphyry copper deposits, which includes Los Pelambres in Chile (Antofagasta Minerals), along with El Pachón (Glencore), and Los Azules (McEwen Copper) in Argentina. A total of 266 drill holes (123,968 m) have been completed at Altar between 1995 and 2021. In March 2021 the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the drilling completed up to and including 2020. Aldebaran’s primary focus is the Altar project with a view to discovering new zones with high-grade mineralization.

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