ATEX Intersects 126 Metres of 2.04% CuEq Including 36 Metres of 3.05% CuEq Within a Broader Interval of 536 Metres of 1.04% CuEq at the B2B Zone
ATEX Intersects 126 Metres of 2.04% CuEq
Including 36 Metres of 3.05% CuEq Within a
Broader Interval of 536 Metres of 1.04% CuEq
at the B2B Zone
Toronto, Ontario--(Newsfile Corp. - June 9, 2025) -
ATEX Resources Inc.
(
TSXV: ATX
) ("
ATEX
" or the
"
Company
") is pleased to announce partial assay results for drill hole ATXD29A and full assay results
for ATXD22C, the seventh and eighth holes from the Phase V drill campaign at the Valeriano Copper-
Gold Project ("
Valeriano
" or the "
Project
"), located in the Atacama Region, Chile. To date, ATEX has
completed approximately 16,600 metres of drilling in the Phase V program.
Highlights include:
ATXD29A, targeting the high-grade B2B Zone, intersected 36 metres (
"
m
"
) grading 3.05%
copper equivalent (
"
CuEq
"
) (2.10% Cu, 1.02 g/t Au, 6.2 g/t Ag, 542 g/t Mo)
within an interval of
126m of 2.04% CuEq (1.47% Cu, 0.67 g/t Au, 3.7 g/t Ag, 252 g/t Mo)
within a broader interval
of
536m of 1.04% CuEq (0.75% Cu, 0.28 g/t Au, 1.7 g/t Ag, 225 g/t Mo)
from 732m downhole
.
The high-grade intervals in ATXD29A
confirm consistency and continuity of
mineralization with a grade over 2.0% CuEq within an area currently measuring
approximately 300m along strike, 100-200m wide and over 300m high
in the core of
the B2B Zone.
ATXD29A continued in well mineralized wall rock through to where it intersected
bornite and chalcopyrite mineralization in Early Porphyry
from approximately 1,500m
downhole to where it was paused at a length of 1,934m.
Assays are pending from 1,386m
to 1,934m
.
ATXD22C,
an infill hole
testing a gap within the existing porphyry footprint
intersected
62m
of 0.88% CuEq
(0.69% Cu, 0.19 g/t Au, 1.0 g/t Ag, 157 g/t Mo) from 950m downhole, and
110m
of
0.71% CuEq
(0.49% Cu, 0.31 g/t Au, 2.2 g/t Ag and 2 g/t Mo) from 1,694m downhole. Both
intervals are included within a broader interval of
1,044m of 0.61% CuEq
(0.46% Cu, 0.18 g/t Au,
1.2 g/t Ag and 48 g/t Mo) starting at 770m downhole.
ATXD22C provides data in a part of the model not tested in previous programs,
100m east of the high-grade trend and 200m south-east of ATXD28
i
(88m of 1.03% CuEq
(0.78% Cu, 0.35 g/t Au, 2.4 g/t Ag, 18 g/t Mo)) and 281m of 0.93% CuEq (0.55% Cu, 0.53 g/t
Au, 3.3 g/t Ag, 4 g/t Mo) within a broader interval of 1,090m of 0.81% CuEq (0.56% Cu, 0.32
g/t Au, 1.8 g/t Ag, 57 g/t Mo) from 834m downhole.
"The B2B Zone continues to deliver impressive high-grade results over meaningful intervals,"
said
Ben Pullinger, President and CEO of ATEX.
"Since its discovery less than a year ago in hole ATXD26,
the B2B breccia has consistently demonstrated strong growth potential and continues to reinforce the
opportunity for similar new discoveries as exploration advances. At the same time, infill drilling within
the known porphyry footprint continues to yield robust, well-mineralized intervals that are expected to
positively contribute to the updated Mineral Resource Estimate anticipated in the second half of the
year. Looking ahead as we plan for Phase VI, we intend to step out into new, untested areas, targeting
additional breccia and porphyry targets across the Project."
Phase V Update - Pending Assay Results from Five Drill Holes
The Company is currently completing the staged shutdown of equipment and personnel with remaining
assay results expected to be released through the summer. The program's strategic objectives are to
delineate the high-grade B2B breccia zone and conduct infill and extensional drilling along the high-
grade porphyry trend, with the aim of supporting an updated Mineral Resource Estimate anticipated in
H2 2025.
Approximately 16,600 metres of directional diamond drilling has been completed during the Phase V
program, including nine completed holes (ATXD16B, 22C, 23A, 23B, 25A, 25B, 27A, 28, and 29A) and
five partial holes (ATXD22D, 25C, 27B, 28A, and 29A) that will be completed as part of the Phase VI
program. Results from the five remaining unreported drill holes (ATXD25C, 27B, 25B, 22D, 28A) will be
announced over the coming months (Table 3).
Using directional drilling techniques, ATEX has saved approximately 9,200m of drilling compared to
conventional drilling methods. This approach has significantly enhanced the overall effectiveness of the
program.
Following the record setting results achieved in the Phase V program, Phase VI is anticipated to begin
in September. This program will aim to further define the geometry and scale of the B2B Zone and other
high-grade breccia targets to the north of the current exploration area while also testing new regional
targets and continuing to define and expand the Valeriano system (Figures 1, 2 and 3).
Table 1 - Partial Results for ATXD29A and Summary Results ATXD22C
Hole ID
(2), (3)
From
To
Interval
Cu
Au
Ag
Mo
CuEq %
MRS
(1)
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(g/t)
ATXD22C
770
1,814
1,044
0.46
0.18
1.2
48
0.61
Incl.
950
1,012
62
0.69
0.19
1.0
157
0.88
Incl.
1,694
1,804
110
0.49
0.31
2.2
2
0.71
ATXD29A
732
1,268
536
0.75
0.28
1.7
225
1.04
Incl.
1,052
1,232
180
1.23
0.53
2.9
327
1.74
Incl.
1,106
1,232
126
1.47
0.67
3.7
252
2.04
Incl.
1,124
1,160
36
2.10
1.02
6.2
542
3.05
(1) CuEq calculated using recoveries assumed in 2023 MRE (90% Cu, 70% Au, 80% Ag and 60% Mo). See Company news dated September 12, 2023)
using the formula stated below:
Copper Equivalent (CuEq) is calculated using the formula CuEq % = Cu % + (6,481.488523 * Au g/t /10,000) + (94.6503085864 * Ag g/t /10,000) +
(4.2328042328 * Mo g/t /10,000) *CuEq values reported in historical releases use metals reported in situ (100% basis). Recoveries for these metals as
assumed in the NI 43-101 technical report titled: "Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile" with an
effective date of September 1, 2023, available at www.sedarplus.ca and www.atexresources.com are 90% Cu, 70% Au, 80% Ag and 60% Mo.
(2) ATXD29A and ATXD22C were composited at a cut-off of 0.3% CuEq and ATXD29A had a maximum internal dilution of 4m and ATXD22C had a
maximum internal dilution of 24m.
(3) True width of mineralized intersection not known at this stage.
Figure 1. Long-Section of B2B Zone and Valeriano Porphyry
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/254884_6735b60a64d068a9_001full.jpg
Figure 2. Plan View of Valeriano System Showing High-Grade B2B Breccia & Currently Defined
Valeriano Porphyry Extents
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/254884_6735b60a64d068a9_002full.jpg
Figure 3. Plan Map of High-Grade Porphyry Trend
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/254884_6735b60a64d068a9_003full.jpg
Phase V Drill Results and Five Holes with Pending Assay Results
A discussion of holes ATXD29A and ATXD22C is provided below along with an overview of completed
drill holes, as well as those being drilled up until the Phase V demobilization.
B2B Zone Exploration
ATXD29A
(paused at 1,934m) is a daughter hole from ATXD29 and was targeting the B2B
breccia approximately 100m up-dip from the intersections drilled in ATXD26 and ATXD23A. The
drilling results confirm continued lateral continuity and grade consistency within the targeted
mineralized zone.
The 36m interval (from 1,124m to 1,160m) of 3.05% CuEq, (2.10% Cu, 1.02 g/t Au, 6.2 g/t
Ag, 542 g/t Mo) is associated with breccia affected by argillic alteration and includes
chalcopyrite and bornite mineralization.
The high-grade interval described above falls within a broader breccia interval of 126m (from
1,106m to 1,232m) of 2.04% CuEq (1.47% Cu, 0.67 g/t Au, 3.7 g/t Ag, 252 g/t Mo), with
alteration transitioning from argillic to potassic.
From a depth of 1,500m ATXD29A intersected bornite-chalcopyrite-mineralized Early
Porphyry with potassic alteration
. Assays pending from 1,386m to end of hole
.
ATXD27B
(paused at 1,632m) is the second daughter hole from ATXD27. The hole was
suspended in mineralized wall rock and was targeting the B2B Zone 150m to the northeast of the
high-grade breccia intersected in ATXD26 and ATXD23A. The hole will be completed as part of
Phase VI.
Assays pending
.
ATXD25C
(paused at 1,566m) is a daughter hole from ATXD25A designed to test the potential
link between the B2B breccia and the high-grade bornite zone intersected in ATXD25A.
Assays
pending
.
Valeriano Porphyry Exploration
ATXD22C
(completed at 1,814m) is a daughter hole of ATXD22 (Phase III) targeting an undrilled
part of the porphyry system with increased drilling density in this area to approximately 150m
centres within the existing porphyry footprint.
ATXD22C intersected 62m of 0.88% CuEq (0.69% Cu, 0.19 g/t Au, 1.0 g/t Ag, and 157 g/t
Mo) within potassic altered brecciated host rock.
ATXD22C ended in a mineralized Intermineral Porphyry with an interval of 110m of 0.71%
CuEq (0.49% Cu, 0.31 g/t Au, 2.2 g/t Ag and 2 g/t Mo) from 1,694m to 1,804m associated
with bornite and chalcopyrite mineralization within a broader interval measuring 1,044m of
0.61% CuEq (0.46% Cu, 0.18 g/t Au, 1.2 g/t Ag, 48 g/t Mo) from 770m to the end of hole at
1,814m.
ATXD25B
(completed at 1,837m) is the second daughter hole from ATXD25A located 250m
along strike from and following up on ATXD25A. The hole was designed to test mineralized
intersections approximately 200m up-dip. ATXD25B intersected potassic alteration with
chalcopyrite and bornite from 1,340m downhole
. Assays pending
.
ATXD22D
(paused at 1,916m) is a daughter hole from ATXD22C and is designed to test Early
Porphyry mineralization on nominal 150m centres as part of the infill program.
Assays pending
.
ATXD28A
(paused at 1,918m) is a daughter hole from ATXD28 and is designed to test Early
Porphyry mineralization on nominal 150m centres as part of the infill program.
Assays pending
.
Table 2 - Detailed Results with Metallurgical Recoveries for Phase V Drill Holes to Date
Hole ID
From
To
Interval
Cu
Au
Ag
Mo
CuEq % In
Situ
(2)
CuEq %
MRS
(1)
CuEq %
Met
(3)
Released
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(g/t)
ATXD16B
1,044
1,824
780
0.56
0.23
0.9
90
0.82
0.76
0.81
March 18,
2025
Incl.
1,364
1,690
326
0.71
0.29
1.1
87
1.02
0.95
1.01
Incl.
1,414
1,646
232
0.75
0.31
1.2
88
1.07
1.00
1.06
ATXD23A
822
2,042
1,220
0.66
0.28
1.9
130
0.99
0.91
0.98
March 18,
2025
Incl.
1,036
1,378
342
1.05
0.47
3.0
326
1.68
1.52
1.65
Incl.
1,092
1,378
286
1.17
0.53
3.4
340
1.86
1.69
1.83
Incl.
1,162
1,378
216
1.34
0.63
4.1
334
2.12
1.93
2.08
Incl.
1,226
1,378
152
1.52
0.75
4.9
161
2.30
2.12
2.28
Incl.
1,334
1,356
22
2.35
1.31
8.6
29
3.56
3.30
3.54
ATXD25A
1,230
1,832
602
0.40
0.16
1.0
57
0.58
0.54
0.57
April 22, 2025
Incl.
1,770
1,830
60
0.60
0.49
2.4
5
1.04
0.94
1.03
And
1,874
1,982
108
0.87
1.18
5.5
9
1.92
1.69
1.90
Incl.
1,892
1,922
30
2.21
3.17
15.1
3
5.01
4.40
4.97
Incl.
1,896
1,912
16
3.04
4.82
21.1
5
7.28
6.36
7.22
ATXD23B
1,028
1,238
210
0.60
0.21
1.0
210
0.92
0.83
0.90
April 22, 2025
Incl.
1,212
1,236
24
0.81
0.30
1.2
136
1.16
1.07
1.15
And
1,264
1,999
735
0.47
0.14
1.0
39
0.62
0.59
0.62
Incl.
1,274
1,318
44
0.83
0.21
1.4
36
1.05
1.00
1.04
ATXD27A
1,172
1,626
454
0.48
0.13
0.9
121
0.67
0.62
0.66
April 22, 2025
And
1,636
2,148
512
0.58
0.27
1.7
18
0.84
0.78
0.83
Incl.
1,672
1,714
42
0.84
0.49
3.1
9
1.29
1.20
1.29
Incl.
1,888
1,920
32
0.77
0.31
1.7
19
1.06
1.00
1.05
ATXD28
834
1,924
1,090
0.56
0.32
1.8
57
0.88
0.81
0.87
June 2, 2025
Incl.
1,098
1,188
90
0.71
0.30
1.4
80
1.02
0.95
1.01
Incl.
1,398
1,486
88
0.78
0.35
2.4
18
1.10
1.03
1.10
Incl.
1,643
1,924
281
0.55
0.53
3.3
4
1.03
0.93
1.02
ATXD22C
770
1,814
1,044
0.46
0.18
1.2
48
0.66
0.61
0.65
June 9, 2025
Incl.
950
1,012
62
0.69
0.19
1.0
157
0.95
0.88
0.94
Incl.
1,694
1,804
110
0.49
0.31
2.2
2
0.77
0.71
0.77
ATXD29A
732
1,268
536
0.75
0.28
1.7
225
1.15
1.04
1.12
Incl.
1,052
1,232
180
1.23
0.53
2.9
327
1.91
1.74
1.88
Incl.
1,106
1,232
126
1.47
0.67
3.7
252
2.22
2.04
2.20
Incl.
1,124
1,160
36
2.10
1.02
6.2
542
3.36
3.05
3.30
(1) CuEq calculated using recoveries assumed in 2023 MRE (90% Cu, 70% Au, 80% Ag and 60% Mo). See Company news dated September 12, 2023)
using the formula stated below:
Copper Equivalent (CuEq) is calculated using the formula CuEq % = Cu % + (6,481.488523 * Au g/t /10,000) + (94.6503085864 * Ag g/t /10,000) +
(4.2328042328 * Mo g/t /10,000).
(2) CuEq reported in situ assuming 100% recovery for component metals assuming metal prices of US$1,800 /oz Au, US$3.15 /lb Cu, US$23 /oz Ag, and
US$20.00 /lb Mo and using the formula stated below:
Copper Equivalent (CuEq) is calculated using the formula CuEq % = (((Cu % * 3.15 * 22.0462)) + (Au g/t * (1,800/31.1034768))+(Ag g/t *
(23/31.1034768)) + ((Mo g/t / 10,000) * (20*22.0462))) / (3.15*22.0462).
(3) CuEq calculated using recoveries reported from metallurgical test work results reported in Company news dated October 18, 2023 (95% Cu, 94% Au,
89% Ag and 83% Mo) using the formula stated below:
Copper Equivalent (CuEq) is calculated using the formula CuEq % = (((Cu % * 3.15 * 22.0462)) + ((0.94/0.95 * Au g/t) * (1,800/31.1034768)) + ((0.89/0.95
* Ag g/t) * (23/31.1034768)) + ((0.83/0.95 * Mo g/t / 10000) * (20*22.0462))) / (3.15*22.0462).
Table 3 - Phase V Drill Hole Summary
Hole ID
UTMX
UTMY
Elevation
Kick-off
Start of
Hole
End of
Hole
Status
Length
Drilled
WGS84 19S
WGS84 19S
(m)
(m)
Azi./Dip
Azi./Dip
(m)
(m)
1
B2B Breccia
ATXD23A
414,623
6,779,921
4,346
515
134 / 81
161 / 50
Complete
2,042
1,527
ATXD23B
414,623
6,779,921
4,346
962
139 / 59
143 / 49
Complete
1,999
1,037
ATXD27A
414,558
6,780,399
4,424
794
153 / 72
175 / 31
Complete
2,148
1,354
ATXD27B
414,558
6,780,399
4,424
704
149 / 73
155 / 33
Paused
1,632
928
ATXD29
414,962
6,779,682
4,257
-
170 / 89
163 / 89
Complete
711
711
ATXD29A
414,962
6,779,682
4,257
355
313 / 88
289 / 74
Paused
1,934
1,580
Porphyry
ATXD16B
415,381
6,779,128
4,134
827
287 / 77
270 / 44
Complete
1,880
1,053
ATXD22C
415,187
6,779,412
4,134
667
261 / 89
286 / 66
Complete
1,814
1,148
ATXD22D
415,187
6,779,412
4,134
732
250 / 86
222 / 64
Paused
1,916
1,185
ATXD25A**
413,896
6,779,919
4,160
1,454
125 / 76
102 / 47
Complete
2,232
778
ATXD25B
413,896
6,779,919
4,160
765
100 / 60
89 / 32
Complete
1,837
1,072
ATXD25C
413,896
6,779,919
4,160
408
129 / 80
108 / 18
Paused
1,566
1,158
ATXD28
415,132
6,779,354
4,170
-
276 / 78
344 / 75
Complete
1,924
1,924
ATXD28A
415,132
6,779,354
4,170
970
291 / 78
353 / 74
Paused
1,918
947
Total
25,552
16,552
1 - Includes re-drilled meters (152.7m).
* Table contains preliminary data.
** ATXD25 was paused at 1,454.2m at the end of the Phase IV campaign and drilling resumed from this depth. Initial kick-off from ATXD25 was at
629.5m.
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-metre 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 La Serena. 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). The
Valeriano Project hosts a large copper gold porphyry mineral resource: 1.41 billion inferred tonnes at
0.67% CuEq (0.50% Cu, 0.20 g/t Au, 0.96 g/t Ag and 63.80 g/t Mo), which includes a higher-grade core
totaling 200 million tonnes at 0.84% CuEq (0.62% Cu, 0.29 g/t Au 1.25 g/t Ag and 55.7 g/t Mo), as
reported by ATEX on September 12, 2023
ii
.
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
See news release dated June 2, 2025, titled "ATEX Intersects 88 Metres of 1.03% CuEq Within 1,090 Metres of 0.81% CuEq Along High-Grade
Porphyry Trend".
i]
See NI 43-101 technical report titled "Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile" by Joled
Nur, CCCRRM-Chile, and David Hopper, CGeol, with an effective date of September 1, 2023, filed at
www.sedarplus.ca
on October 25, 2023, for
additional details on the 2023 Mineral Resource Estimate for the Valeriano project.