Aldebaran spins out greenfield exploration assets in Argentina

Aldebaran Resources has spun out six exploration-stage assets in northern Argentina into a new company, Centauri Minerals, while focusing on advancing its flagship Altar copper-gold project in San Juan toward prefeasibility.

Aldebaran Resources (TSXV: ALDE) has officially completed the spin-out of its early-stage exploration assets in northern Argentina, while retaining full focus on its flagship Altar copper-gold project in San Juan province, which now becomes its sole core asset.

The Vancouver-based copper-gold developer first announced plans for the spin-off in September, describing it as a strategic move to “unlock additional value” for shareholders by creating a dedicated exploration company to advance projects that have remained inactive for several years.

Centauri minerals: A new argentine explorer

The newly formed company, Centauri Minerals, will control six greenfield projects covering more than 430 square kilometers across Salta, Jujuy, and Catamarca provinces — three of Argentina’s most mineral-rich jurisdictions.

The most advanced among them is the Rio Grande project, located just 9 km from Fortuna Mining’s Lindero gold-copper operation. Based on drilling last completed in 2012, Rio Grande hosts 71 million tonnes grading 0.30% copper and 0.36 g/t gold (indicated) and 41 million tonnes grading 0.23% copper and 0.28 g/t gold (inferred).

Another key property is Aguas Calientes, a gold-silver prospect with extensive surface mineralization but no drilling activity since 2019.

New leadership and financing

Sam Leung, currently a director at Aldebaran and a former executive at Adventus Mining (acquired by Silvercorp Metals in 2024) and Lundin Mining, will lead the new subsidiary as its chief executive.

Under the terms of the transaction, Aldebaran will sell its exploration assets to Centauri in exchange for 40 million shares, representing 78.1% of the new company’s outstanding equity. The remaining 21.9% will be placed privately with investors at C$0.50 per share, raising approximately C$5.7 million in seed financing.

The funds will be directed toward exploration programs, including an updated technical report on Rio Grande, fieldwork at Rio Grande and Aguas Calientes, and administrative preparation for an IPO or go-public transaction in 2026.

Focus on the Altar copper-gold project

With the spin-out complete, Aldebaran will now focus entirely on its 80%-owned Altar project, one of Argentina’s largest undeveloped copper-gold systems.

A resource update released in 2024 outlined 2.4 billion tonnes in measured and indicated resources grading 0.42% copper and 0.07 g/t gold, containing an estimated 22 billion pounds of copper and 5.1 million ounces of gold. The company aims to advance Altar toward a prefeasibility study in 2026, positioning it as one of the most significant copper development projects in South America.

Following the spin-out announcement, Aldebaran’s shares rose 0.6%, bringing its market capitalization to C$580.5 million (US$414.3 million).