08:16 AM EST, 11/21/2024 (MT Newswires) -- Aldebaran Resources ( ADBRF ) on Thursday announced that field activities are underway and drilling has commenced at the Altar project in San Juan, Argentina.

A statement noted the company has secured five drill rigs for the 2024-2025 field program, with an option on a sixth, and is targeting approximately 25,000 meters of drilling. The company said that much of the information required to complete a Preliminary Economic Assessment is already available except for results from the Phase 1 Nuton column leach testing, which is "well underway". The 2024-2025 field program will focus primarily on collecting information required to complete a Pre-Feasibility Study in the second half of 2026.

The primary goals of the 2024-2025 field program are to complete drilling for metallurgical samples required for Phase 2 Nuton sulphide leaching program; complete infill drilling to upgrade resources from Inferred to Measured & Indicated where appropriate; complete holes to collect geotechnical and hydrogeological data; and complete drilling into areas classified as waste due to lack of drilling (undefined waste).

"Before the end of November, we will release an updated mineral resource estimate that will quantify a significant increase in the size of the Altar deposit since the last resource estimate in 2021," said Chief Executive John Black. "Work is underway on a PEA that we anticipate completing by the end of Q2-2025. The 2024-2025 field season will shift from resource expansion to more feasibility level work. We will complete infill drilling where required, however, our focus this field season will be collecting data and preparing for a PFS that we anticipate will be completed towards the end of 2026."

ALDE edged down $0.01 to $1.83 in Canada yesterday.