ATEX Is Drilling with Six Rigs at Valeriano Targeting 25,000 Meters First Phase VI Drill Hole Completed in B2B Zone
ATEX Is Drilling with Six Rigs at Valeriano
Targeting 25,000 Meters First Phase VI Drill
Hole Completed in B2B Zone
Toronto, Ontario--(Newsfile Corp. - October 1, 2025) -
ATEX Resources Inc. (TSXV: ATX) (OTCQB:
ATXRF)
("
ATEX
" or the "
Company
") is pleased to announce its exploration plans for Phase VI, the
Company's largest program to date at the Valeriano Project ("
Valeriano
" or the "
Valeriano Project
")
located in Atacama Region, Chile. The Phase VI program includes 25,000 meters of high impact, cost
effective exploration utilizing directional diamond drilling. The main objectives for Phase VI will be to
continue defining and growing the high-grade B2B Zone, to systematically test new B2B analogous
targets to the north and south of the currently defined system and to continue to grow the porphyry system
limits which are yet to be defined.
"Phase V materially advanced our knowledge of Valeriano, delivering the highest-grade and most
significant drill results in Valeriano's history",
Ben Pullinger, President and CEO, stated.
"The program
confirmed and extended the high-grade B2B Zone, extended the high-grade porphyry trend within the
broader system and expanded the mineralized footprint culminating in an updated Mineral Resource
statement, establishing Valeriano as the largest copper discovery in Chile in a decade. On the back of
this announcement and commencing earlier compared to previous years, Phase VI will build on this
success seeking to grow and better define the B2B Zone, systematically testing additional targets for
new high-grade B2B-like discoveries and continue to expand the limits of the Valeriano Porphyry
system. At the same time, we are undertaking engineering, hydrology and permitting work to de-risk
the project and support the transition toward future development. ATEX looks forward to keeping the
market informed as Phase VI progresses and initial drill results are released."
Highlights:
Phase VI program
targeting 25,000 meters
of directional diamond drilling, a 50% increase in
meters drilled compared to the Phase V campaign.
A balanced and flexible program
allowing for allocation of drill meters for:
1
.
Further growth and definition of the high-grade B2B Zone
(28.4 Mt in Indicated at a
grade of 1.36% CuEq (0.95% Cu, 0.33 g/t Au, 1.98 g/t Ag and 134 g/t Mo) and 2.6 Mt in
Inferred at a grade of 1.05% CuEq (0.74% Cu, 0.28 g/t Au, 1.74 g/t Ag and 22 g/t Mo) at a
0.6% Cu cut-off grade
i
.
Hole ATXD25C
, which in Phase V returned approximately
8 meters of 2.26%
CuEq
ii
(1.69% Cu, 0.80 g/t Au, 5.0 g/t Ag and 30 g/t Mo) has completed drilling,
intersecting approximately
200 meters of additional B2B-style mineralization
within a broader 492 meter interval ending in mineralization.
2
.
New B2B analogous high-grade breccia targets
, utilizing similar geophysical signatures
of the B2B Zone and situated closer to surface.
3
.
Assessing and continuing to expand the Valeriano Porphyry system
where limits are
still unknown and extending the high-grade core (118 Mt at 1.07% CuEq (0.68% Cu, 0.35 g/t
Au, 1.74 g/t Ag and 42.8 g/t Mo)), and 161 Mt of Inferred at 1.01% CuEq (0.63% Cu, 0.34 g/t
Au, 1.88 g/t Ag, 37.6 g/t Mo), demonstrating high continuity at a 0.5% cut-off grade
iii
.
4
.
Continuing to derisk the Project
through expanding ongoing baseline environmental
monitoring programs, continuing early-stage engineering studies including hydrogeology,
geotechnical studies as well as advancing permitting for future drill campaigns.
Drilling commenced
six weeks earlier
than in 2024 (Phase V), demonstrating significant
improvements in operational efficiency.
Figure 1. Plan Maps of B2B Breccia Zone & Phase VI Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/268613_7258686f7437995f_001full.jpg
Phase VI Program Details
ATEX commenced drilling for the Phase VI program, with six rigs currently operating on site. The
campaign is targeting approximately 25,000 meters of high impact, cost effective exploration utilizing
directional diamond drilling. The following section outlines the key priorities guiding this drilling
campaign.
Further delineation and growth of the high-grade B2B Zone
A key objective of the upcoming program is to further delineate the high-grade B2B Zone, which has
demonstrated high-grade intercepts and continuity in Phase V. Drilling will focus on expanding the zone
to the north-northeast, where step-outs have confirmed both size and scale, but limits remain undefined.
Continued success in this direction has the potential to materially increase the volume of high-grade
mineralization within Valeriano, enhancing both the overall grade profile and the strategic importance of
the B2B Zone within the broader porphyry system.
Explore for and test other high-grade breccia targets, and new regional targets
ATEX will advance on testing new exploration areas that demonstrate strong potential for additional
high-grade breccia discoveries. These targets, located closer to surface, represent a compelling
opportunity to expand the mineralized high-grade breccia footprint while benefitting exploration costs.
Systematically pursuing these targets may add significantly to said mineralization and accelerate the
path toward demonstrating the nearer term economic potential of Valeriano.
Continue expanding the Valeriano Porphyry system where limits remain undefined
ATEX will continue to further expand the Valeriano porphyry through a combination of infill and
extensional drilling. Infill drilling is designed to demonstrate continuity and support increased confidence
within the existing mineralized footprint, while step-out drilling will test extensions into areas where the
system limits remain unconstrained. With mineralization open in multiple directions and at depth, there is
a significant opportunity to further grow the scale of the Valeriano porphyry system.
Continue project derisking through ongoing baseline environmental studies and monitoring,
early stage engineering studies, including hydrogeology and geotechnical scopes and
advancing permitting for future drill campaigns
Project and surface hydrology: Advancing hydrogeological studies to advance a hydrological
model covering the area of operations and verify no disturbance to surface and underground water.
Expanded environmental monitoring: Enlarging the environmental baseline monitoring footprint to
strengthen data coverage and support permitting requirements.
DIA submission: Completing the Declaration de Impacto Ambiental ("DIA") to advance regulatory
approvals and reduce permitting risk.
Infrastructure studies: Advancing feasibility-level assessments on a potential secondary access
road to improve logistics and reduce development risk.
Exploration decline permitting: Initiating investigations into permitting for an underground
exploration decline to enable direct access to mineralization and accelerate project development.
Quality Control & Quality Assurance
Drill holes are collared with a PQ drill bit, reduced to HQ and, sequentially, to NQ as the drill holes
progressed deeper. Drill core produced by the drill rigs was extracted from the core tubes by the drill
contractor under the supervision of ATEX employees, marked for consistent orientation and placed in
core boxes with appropriate depth markers added. Full core boxes were then sealed before being
transported by ATEX personnel to the Valeriano field camp. Core at the field camp is processed, quick
logged, checked for recovery, photographed, and marked for specific gravity, geotechnical studies and
for assays. From camp, the core is transferred to a secure core-cutting facility in Vallenar, operated by
IMG, a third-party consultant. Here, the core trays are weighed before being cut using a diamond saw
under ATEX personnel oversight. ATEX geologists working at this facility double-check the selected
two-meter sample intervals, placing the samples in seal bags and ensuring that the same side of the
core is consistently sampled. Reference numbers are assigned to each sample and each sample is
weighed. The core trays with the remaining half-core are weighed and photographed. Additionally, core
logs are updated, and specific gravity and geotechnical samples are collected. The remaining core is
stored in racks at the Company's secure facility in Vallenar.
From Vallenar samples are sent to an ALS preparation facility in Copiapó. ALS is an accredited
laboratory which is independent of the Company. The prepared samples were sent to the ALS assay
laboratories in either Santiago, Chile and Lima, Peru for gold (Au-AA24), copper (Cu-AA62),
molybdenum (Mo-AA62) and silver (Ag-AA62) assays as well as and multi-element ICP (ME-MS61)
analysis. No data quality problems were indicated by the QA/QC program.
Qualified Person
Mr. Ben Pullinger, P.Geo., registered with the Professional Geoscientists Ontario, is the Qualified
Person, as defined by National Instrument 43-101 - Standards for Disclosure for Mineral Projects, for the
Valeriano Copper Gold Porphyry Project. Mr. Pullinger is not considered independent under NI 43-101
as he is President and CEO of ATEX. He has reviewed and approved the disclosure of the scientific
and technical information contained in this press release.
About ATEX
ATEX is exploring the Valeriano Copper-Gold Project which is located within the emerging copper gold
porphyry mineral belt linking the prolific El Indio High-Sulphidation Belt to the south with the Maricunga
Gold Porphyry Belt to the north, located in the Atacama Region, Chile. This emerging belt, informally
referred to as the Link Belt, hosts several copper gold porphyry deposits at various stages of
development including, Filo del Sol (Lundin Mining/BHP), Josemaria (Lundin Mining/BHP), Lunahausi
(NGEx Minerals), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick).
For further information, please contact:
Ben Pullinger,
President and CEO
Email:
Aman Atwal,
Vice President, Business Development and Investor Relations
Email:
1-647-398-9405
or visit ATEX's website at
www.atexresources.com
Cautionary Note Regarding Forward-Looking Statements:
This news release contains forward-looking statements, including predictions, projections, and
forecasts. Often, but not always, forward-looking statements can be identified by the use of words such
as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates",
"forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation
of such words and phrases or state that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the forward-looking statements.
Such forward-looking statements include, among others: statements regarding plans for the evaluation of
exploration properties including the Valeriano Copper Gold Project; the success of evaluation plans; the
success of exploration activities especially to the significant expansion of the high-grade corridor; mine
development prospects; potential for future metals production; changes in economic parameters and
assumptions; all aspects related to the timing and extent of exploration activities, including the Phase V
and Phase VI programs contemplated in this press release; timing of receipt of exploration results; the
interpretation and actual results of current exploration activities and mineralization; changes in project
parameters as plans continue to be refined; the results of regulatory and permitting processes; future
metals price; possible variations in grade or recovery rates; failure of equipment or processes to
operate as anticipated; labour disputes and other risks of the mining industry; the results of economic
and technical studies; delays in obtaining governmental and local approvals or financing or in the
completion of exploration; timing of assay results; as well as those factors disclosed in ATEX's publicly
filed documents.
Although ATEX has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider has reviewed or
accepts
responsibility for the adequacy or accuracy of the content of this news release.
i
Please see news release titled "ATEX Reports Updated Mineral Resource Estimate of 475 Million Tonnes of 0.88% CuEq Indicated and 1.5
Billion Tonnes of 0.75% CuEq Inferred" reported on September 23, 2025.
ii
Please see news release titled "ATEX Completes Phase V Program Ending in High-Grade B2B Mineralization - Strategic Objectives Achieved
With Resource Update Expected in 2H 2025" reported on July 30, 2025.
iii
Please see news release titled "ATEX Reports Updated Mineral Resource Estimate of 475 Million Tonnes of 0.88% CuEq Indicated and 1.5
Billion Tonnes of 0.75% CuEq Inferred" reported on September 23, 2025.
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