Aldebaran discovers new porphyry centre at Altar

IronRidge derisks through diverse discoveries

ironridge resources

Drilling in 2019 totalled 5,400m in four diamond core holes. Two of the three which reached their target depth intersected long intervals of higher than current resource grade material and one hit the new porphyry centre.

Drilling highlights included 194m grading 0.74 grams per tonne gold and 1.1g/t silver from surface and a lower zone of 789m grading 0.41% copper, 0.09g/t gold, 1g/t silver and 126ppm molybdenum.

IronRidge derisks through diverse discoveries

ironridge resources

Discovery of a new porphyry centre below the QDM gold system opened a new area of exploration for additional copper-gold resources, Aldebaran said.

"Information from this drill program, combined with our ongoing detailed relogging of close to 115,000m of historical drill core, will help us define future drill targets, extend known mineralisation and allow us to potentially recast the current low to moderate-grade resource into a lower tonnage, higher-grade resource," said president and CEO John Black.

Altar is a very large, low grade resource hosting a September 2018 measured and indicated resource of more than 14 billion pounds of contained copper and 4.8 million ounces of gold, plus an additional 3.4Blbs and 1.09Moz of inferred resources.

Aldebaran aims to explore and expand the higher-grade zones to identify a higher-grade resource within the project, as well as identify and drill test several new target areas.

Shares in Aldebaran Resources are trading at C39c, valuing the company at $30 million.