Legal Battle with BHP Looms as Altair Advances Olympic Domain Copper Project
Altair Minerals has raised $13 million to fund a major drilling campaign at its Greater Oko Project in Guyana, aiming to explore one of the world's most promising and consolidated gold belts.
- Completed $13 million institutional placement to fund ~15,000m drilling
- Greater Oko Project covers 590 km² along prolific Oko Shear Zone
- Commenced largest geochemical program ever on South Oko prospect
- Strong cash position of $12.2 million at quarter-end
- Board strengthened with appointment of mining veteran Rob Curtis
Strategic Acquisition and Funding Boost
Altair Minerals Limited (ASX – ALR) has taken a significant step forward in its gold exploration ambitions with the completion of a $13 million institutional placement. This capital injection fully funds a substantial drilling campaign of approximately 15,000 metres at its recently acquired Greater Oko Project in Guyana, set to commence in the first quarter of 2026.
The Greater Oko Project is a landmark consolidation of 590 square kilometres of contiguous exploration permits along the highly prospective Oko Shear Zone. This region is renowned for hosting world-class gold discoveries, including the adjacent Oko West deposit, which boasts a resource of 5.9 million ounces at 2.2 grams per tonne gold. Altair’s acquisition effectively overcomes the historical challenge of fragmented permits in Guyana, positioning it as the dominant explorer in one of the last underexplored Birimian greenstone belts globally.
Exploration Progress and Geological Insights
During the December quarter, Altair commenced the largest geochemical program ever conducted across the Oko Shear Zone at the South Oko (SOKO) prospect. This program includes extensive soil sampling, trenching, and auger drilling designed to generate multiple high-potential drill targets. The company’s geochemical data, supported by structural studies using ASTER and SRTM satellite data, has identified key deformation zones critical for orogenic gold mineralisation, mirroring the geological settings of neighbouring billion-dollar deposits.
At North Peters, an advanced drill-ready target within the Greater Oko Project, Altair is preparing for its maiden diamond drilling program. Historic drilling highlights include impressive intercepts such as 262 metres at 1.6 grams per tonne gold, with recent data acquisitions further confirming continuity and expansion potential. Additionally, new targets like Old Granny and Kmung have been identified, expanding the prospective strike length and depth potential of the project.
Corporate Developments and Board Strengthening
Altair also bolstered its leadership team with the appointment of Rob Curtis as a Non-Executive Director. Curtis brings three decades of experience in exploration and business development from major mining companies including Rio Tinto and Oz Minerals, adding valuable expertise as Altair advances its exploration programs.
The company ended the quarter with a robust cash balance of $12.2 million, providing a strong financial foundation for ongoing exploration activities. The placement was well supported by specialist mining institutions and resource investors, reflecting confidence in Altair’s strategic positioning and growth prospects.
Other Projects and Legal Matters
Beyond Guyana, Altair continues to progress its Olympic Domain copper project in South Australia, located in a prolific IOCG district. The company is engaged in a legal matter with BHP concerning exploration rights, with the next hearing scheduled for February 2026. Altair remains committed to defending its interests and unlocking value from this asset amid a strong copper market.
Meanwhile, the Venatica copper project in Peru remains under technical review, with no material changes reported during the quarter.
Bottom Line?
Altair’s well-funded, strategically consolidated Greater Oko Project sets the stage for a potentially transformative gold discovery in Guyana’s emerging belt.
Questions in the middle?
- Will the upcoming drill results at South Oko and North Peters confirm the high-grade potential indicated by geochemical anomalies?
- How will the legal dispute with BHP over the Olympic Domain project impact Altair’s copper exploration timeline and value?
- Can Altair leverage its strategic partnerships to expand the Greater Oko land package beyond the current 590 km²?
