BHP Dispute and Non-JORC Resources Pose Challenges for Altair’s Growth Ambitions

Strategic Acquisition in Guyana’s Emerging Gold Belt

Altair Minerals Limited has taken a decisive step to become the dominant gold explorer in Guyana by acquiring up to a 70% interest in the Greater Oko Project. This acquisition consolidates a contiguous land package of 590 square kilometres, with potential expansion to over 3,500 square kilometres, overcoming the significant challenge posed by fragmented exploration permits in the country. The Greater Oko Project sits along the highly prospective Oko Shear Zone, a geological structure that has yielded recent world-class gold discoveries by peers such as G2 Goldfields and G Mining Ventures.

Exploration Momentum Builds with Large-Scale Geochemical Program

Following completion of the acquisition and shareholder approval, Altair has mobilised a world-class Guyanese exploration team to commence the largest geochemical survey ever conducted along the Oko Shear Zone. This program focuses on the South Oko target, an untested tier-1 mineralised structure that extends over three times the strike length of nearby discoveries totaling more than 9 million ounces of gold. The initial soil sampling and trenching aim to generate multiple high-priority drill targets, setting the stage for a potentially transformative exploration campaign.

North Peters – High-Grade Mineralisation Awaits Drilling

Altair is also preparing to drill at the North Peters prospect, located on the western flank of Greater Oko. Historic auger drilling has delineated a non-JORC compliant inferred resource of 251,000 ounces at an impressive grade of 4.91 grams per tonne gold, with diamond drilling confirming mineralisation extending beyond the initial resource boundaries. The upcoming drill program will test these extensions and aims to upgrade and expand the resource, which could significantly enhance the project’s value.

Olympic Domain Project – Copper Potential and Legal Challenges

In South Australia, Altair’s Olympic Domain Project continues to show promise as a copper exploration opportunity within the Gawler Craton, home to some of the world’s largest copper deposits. The company recently completed a successful geophysical simulation to identify deep copper-gold targets. However, Altair is currently engaged in a legal dispute with mining giant BHP, which seeks to use part of Altair’s tenements for infrastructure related to its Oak Dam deposit. The outcome of this dispute could have material implications for Altair’s exploration plans and project value.

Capital Raising Supports Growth Strategy

To fund its ambitious exploration and acquisition activities, Altair completed a $3.2 million capital raising in two tranches during the quarter. The funds have been instrumental in formalising the Greater Oko acquisition and advancing exploration programs. With a strengthened balance sheet and strategic landholdings, Altair is well-positioned to capitalize on the underexplored potential of Guyana’s gold belt and its copper prospects in Australia and Peru.