Sibanye, Regulus join efforts to develop Argentina’s Altar project

South Africa’s Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL), the precious metal miner target of several lawsuits over mounting deaths at its operations, said Friday it has inked an agreement with Canada’s Regulus Resources (TSX-V: REG), and its newly formed subsidiary Aldebaran Resources, to jointly unlock value at the Altar copper-gold project, in Argentina.

Under the terms of the deal, Sibanye’s wholly-owned branch Stillwater Canada will enter into an option and joint venture with Regulus’ newly formed Argentinean subsidiary Aldebaran Resources. This company, in turn, will have the option to earn a maximum 80% interest in a division of Stillwater Canada – Peregrine Metals, which owns Altar.

Vancouver-based Regulus will also spin out its Rio Grande copper-gold project and other early-stage mining assets it has in Argentina to Aldebaran, including the drill-ready Aguas Calientes gold-silver project.

Sibanye, Regulus join efforts to unlock value at Argentina’s Altar project

Altar Project location. (Image courtesy of Regulus Resources.)

The Altar project, located in the San Juan province, is about 10km from the border with Chile, the world’s No. 1 copper producer. As of December, it contained 2,057 million tonnes of measured and indicated resources at 0.3% copper and 0.1 g/t gold (14.5 billion pounds of copper and 5.2 million ounces of gold) and 557 million tonnes of inferred resources at 0.3% copper and 0.1 g/t gold (3.4 billion pounds of copper and 1.1 million ounces of gold)

The Rio Grande project, in the north western Salta province, is located along the NW-trending Archibarca Lineament, which also controls the location of the BHP’s Escondida copper mine in Chile, the world’s largest.