ATEX Intersects 20 Meters of 4.10% CuEq Within 78 Meters of 3.03% CuEq at the Southern Boundary of the High-Grade B2B Breccia 35% of Assays Remain Pending for Phase VI Program
ATEX Intersects 20 Meters of 4.10% CuEq
Within 78 Meters of 3.03% CuEq at the
Southern Boundary of the High-Grade B2B
Breccia
35% of Assays Remain Pending for Phase VI Program
Toronto, Ontario--(Newsfile Corp. - July 8, 2026) -
ATEX Resources Inc.
(
TSX: ATX
) (
OTCQX:
ATXRF
) ("
ATEX
" or the "
Company
") is pleased to announce additional drill results from the Valeriano
Copper-Gold Project ("
Valeriano
" or the "
Project
") in the Atacama region of Chile, including complete
results from holes ATXD23C, ATXD31A, and partial results from hole ATXD31B. Phase VI drilling
totaled a record of approximately 28,400 meters ("
m
"), exceeding the initial 25,000m program target.
Approximately 65% of assays have now been released for the Phase VI drill program with remaining
results expected through July.
Chris Beer, Interim President and CEO commented,
"These results continue to strengthen our
confidence in the continuity of the high-grade B2B breccia and its relationship to the underlying high-
grade porphyry system. Hole ATXD23C adds significant high-grade mineralization at the southern
boundary of the currently defined B2B Mineral Resource, while holes ATXD31A and ATXD31B
demonstrate that the system remains open to the north. Previously reported results from hole
ATXD19A indicate that the B2B breccia extends approximately 180m to the south where follow-up
drilling will resume in September with the continuation of hole ATXD19B as part of our Phase VII
program.
Collectively, these results improve our understanding of the geometry, continuity and scale of the B2B
breccia while reinforcing our interpretation that the highest-grade mineralization forms part of a much
larger porphyry system with significant growth potential. Based on drilling completed to date, the B2B
breccia has now been traced over approximately 600m representing a 50% increase from the
previously interpreted 400m strike length. With several holes ending in mineralization and
approximately 35% of Phase VI assays still pending, we believe there remains substantial opportunity
to continue expanding both the high-grade B2B breccia and the broader Valeriano mineralized
system."
Highlights:
ATXD23C
intersected
20m of 4.10%
CuEq
(2.53% Cu, 1.39 g/t Au, 9.3 g/t Ag, 84.0 g/t Mo),
within broader intervals of
78m of 3.03% CuEq
(1.91% Cu, 0.99 g/t Au, 6.6 g/t Ag, 107.2 g/t Mo)
and
124m of 2.65% CuEq
(1.67% Cu, 0.86 g/t Au, 5.5 g/t Ag, 102.4 g/t Mo),
representing some
of the highest-grade intervals drilled at Valeriano
.
Further defined the geometry of the high-grade B2B breccia, increasing confidence in its
interpreted size, shape and volume.
Confirmed continuity between the high-grade B2B breccia and the underlying high-grade
porphyry, reinforcing the interpretation of a larger, connected mineralized porphyry system.
Hole ended in mineralized porphyry, highlighting the potential to further expand both the high-
grade B2B core and the underlying high-grade porphyry core.
ATXD31A
intersected
64m of 1.02% CuEq
(0.52% Cu, 0.45 g/t Au, 2.3 g/t Ag, 3.5 g/t Mo) and
including a broader interval of
84m of 0.96% CuEq
(0.62% Cu, 0.30 g/t Au, 1.7 g/t Ag, 12.4 g/t
Mo),
confirming high-grade mineralization along the lower B2B Zone
.
Demonstrates the potential to extend high-grade mineralization both laterally and at depth.
Strengthens confidence in the three-dimensional geometry of the lower B2B breccia while
identifying opportunities for further expansion to the northwest and at depth.
ATXD31B
intersected
146m of 1.14% CuEq
(0.70% Cu, 0.42 g/t Au), within a broader interval of
408m of 0.88% CuEq
(0.58% Cu, 0.28 g/t Au),
confirming thickness, continuity and
northern extent of mineralization
within the B2B system
.
Further defined the northern margin of the B2B breccia while demonstrating continuity as the
high-grade breccia transitions into the surrounding mineralized porphyry.
Hole ended in mineralized porphyry with assays pending, highlighting the potential to further
expand the B2B system beyond the currently reported interval.
Figure 1. Long-Section of B2B and Porphyry Models
[i]
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/304442_92d05dafb461780e_001full.jpg
Figure 2. Long-Section of B2B and Porphyry Showing Drill Hole Pierce Points
[ii]
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/304442_92d05dafb461780e_002full.jpg
Figure 3. Plan Map of Phase VI Drill Holes
[iii]
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/304442_92d05dafb461780e_003full.jpg
Technical Highlights:
ATXD23C
intersected
20m of 4.10% CuEq
(2.53% Cu, 1.39 g/t Au, 9.3 g/t Ag, 84.0 g/t Mo)
within broader intervals of
78m of 3.03% CuEq
(1.91% Cu, 0.99 g/t Au, 6.6 g/t Ag, 107.2 g/t Mo)
and
124m of 2.65% CuEq
(1.67% Cu, 0.86 g/t Au, 5.5 g/t Ag, 102.4 g/t Mo), from 1,236m
downhole.
This hole was designed to test the shallower portion of the high-grade B2B breccia to
improve confidence in its lateral continuity and interpreted geometry.
Intersected one of the principal mineralized diorite porphyry phases that hosts the high-grade
copper-gold mineralization, characterized by strong potassic alteration with abundant
chalcopyrite and bornite associated with elevated gold grades.
Demonstrated vertical continuity of the mineralized system by linking the high-grade B2B
breccia with the underlying high-grade porphyry, reinforcing the interpretation of a single,
connected mineralized system.
Further defined the geometry of the B2B breccia, increasing confidence in its interpreted
size, shape and volume.
ATXD31A
intersected
64m of 1.02%
CuEq
(0.52% Cu, 0.45 g/t Au, 2.3 g/t Ag, 3.5 g/t Mo) and
including a broader interval of
84m of 0.96% CuEq
(0.62% Cu, 0.30 g/t Au, 1.7 g/t Ag, 12.4 g/t
Mo), from 1,638m downhole.
This hole was designed to test the deeper part of the B2B zone and the north-western extent.
Intersected multiple porphyry phases with strong copper mineralization and intense potassic
alteration along the contact with the surrounding host rock.
Confirmed an important geological control on high-grade mineralization, where an early
porphyry intrusion into the surrounding host rocks created a brecciated contact that hosts
elevated copper-gold grades.
Demonstrated that the structurally controlled high-grade zone remains continuous both
vertically and laterally, supporting the potential for further expansion of the high-grade B2B
system.
ATXD31B
intersected
146m of 1.14%
CuEq
(0.70% Cu, 0.42 g/t Au) within a broader interval of
408m of 0.88% CuEq
(0.58% Cu, 0.28 g/t Au) from 1,438m downhole. The drill hole ended in
mineralized porphyry with results from the remaining 174m pending.
This hole was designed to test the deeper part of the B2B breccia, similar to ATXD31A and
define its northern-central limit.
Intersected a magmatic-hydrothermal breccia characterized by strong potassic alteration
and abundant chalcopyrite-dominant copper mineralization, including localized intervals of
secondary copper enrichment containing covellite and chalcocite.
The upper portion of the 408m interval comprises a broad rhyolite-hosted mineralized zone
averaging 0.75% CuEq, demonstrating the continuity of mineralization beyond the high-
grade B2B breccia into the surrounding porphyry system.
Further defined the northern margin of the B2B breccia and its transition into the surrounding
mineralized host rocks, improving confidence in the interpreted geometry of the high-grade
system.
Table 1 - Complete Results for ATXD23C, ATXD31A and Partial Results for ATXD31B
Hole ID
From
To
Interval
Cu
Au
Ag
Mo
CuEq %
MRS
(1)
Zone
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(g/t)
ATXD23C
916
1,608
692
0.72
0.31
1.9
157.4
1.11
B2B
Incl.
1,074
1,384
310
1.02
0.45
2.8
192.0
1.59
And Incl.
1,236
1,360
124
1.67
0.86
5.5
102.4
2.65
And Incl.
1,240
1,318
78
1.91
0.99
6.6
107.2
3.03
And Incl.
1,260
1,280
20
2.53
1.39
9.3
84.0
4.10
ATXD31A
1,304
1,834
530
0.47
0.20
1.1
52.4
0.71
B2B
Incl.
1,638
1,722
84
0.62
0.30
1.7
12.4
0.96
And Incl.
1,748
1,812
64
0.52
0.45
2.3
3.5
1.02
ATXD31B
1,438
1,846
408
0.58
0.28
-
-
0.88
Incl.
1,606
1,752
146
0.70
0.42
-
-
1.14
Notes
:
(1) CuEq calculated using recoveries assumed in 2025 Mineral Resource Estimate (see the Valeriano Technical Report) using the formula: Cu (%) +
1.04991243188302 x Au (g/t) + 0.00824244819238401 x Ag (g/t) + 0.000357909627766355 * Mo (g/t).
(2) CuEq reported assuming metal prices of US$2,750/oz Au, US$3.80/lb Cu, US$27/oz Ag, and US$22/lb Mo.
(3) CuEq reported assuming recoveries of Cu 94%, Au 95%, Ag 80% and Mo 64%.
(4) Drill holes were composited at a cut-off of 0.3% CuEq.
(5) ATXD23C contained internal dilution of 10m for the 916m to 1,608m composite. ATXD31A contained internal dilution of 14m for the 1,304m to
1,834m and 2m for the 1,638m to 1,722m composites. ATXD31B contained internal dilution of 4m for the 1,438m to 1,846m and 2m for the 1,606 to
1,752m composites.
(6) Ag and Mo are pending for ATXD31B reported composites from 1,598m to 1,846m.
(7) True widths are unknown.
Phase VI Drill Program Update
Phase VI drilling has been successfully completed, exceeding the original 25,000m target with a record
28,400m drilled. The program included approximately 15,500m in the high-grade B2B Zone, 11,750m
testing nearby high-grade breccia targets, and 1,025m on porphyry extensions. While drilling for the
season is complete, 35% of assay results remain outstanding and will continue to be released as they
are received and finalized from the laboratory through July. Details of drill holes completed this season,
including holes paused for follow-up drilling during the next season, are provided below.
Table 2 - Progress of Remaining Drill Holes
Hole
Zone
Status
Description
ATXD19 (A)
B2B
Assays pending
Southern B2B extension, 940m of hole results pending.
ATXD19 (B)
B2B
Assays pending
Southern B2B extension, paused in mineralized porphyry.
ATXD25 (E,F)
B2B
Assays pending / paused
Depth extension in central B2B Zone, ATXD25E assays are pending and
ATXD25F is paused.
ATXD31 (C)
B2B
Assays pending
NW continuity at lower elevation of B2B Zone, potentially into the HG porphyry
core.
ATXD35 (A)
B2B
Paused
Test west flank and up-dip extension of B2B and early porphyry extension.
ATXD36
MVI
2
Assays pending
New mag. anomaly, potential breccia body NE of ATXD30.
ATXD37
Porphyry
Assays pending
480m north of the B2B Zone, in an ANT
1
anomaly.
ATXD39 (A)
Porphyry
Assays pending
Southern extension of porphyry high-grade trend.
ATXD40 (A)
B2B
Paused
Testing ANT
1
anomaly.
ATXD41
B2B
Paused
Testing up-dip, high-grade towards surface.
(1)
'ANT'
- Ambient Noise Tomography (passive seismic geophysics)
(2)
'MVI'
- Magnetic Vector Inversion
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 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 or 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. The
QA/QC program consists of insertion rates of 6% for Certified Reference Material, 2% for certified
'blank' material and 2% duplication of pulp and coarse reject material. No data quality problems were
indicated by the QA/QC program.
Qualified Person
Brad Ulry, P.Geo., has reviewed and approved the scientific and technical information in this news
release. Mr. Ulry is the Chief Operating Officer of Dahrouge Geological Consulting Ltd., which has been
retained by the Company to provide geological consulting services. Mr. Ulry is a "
Qualified Person
" as
defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("
NI 43-101
") and
independent of the Company for purposes of Section 1.5 of NI 43-101.
Mineral Resource Estimate
The mineral resource estimate on Valeriano (the "
2025 Mineral Resource Estimate
") is supported by
the technical report titled
"Independent Technical Report for the Valeriano Copper-Gold Project,
Atacama Region, Chile"
and dated November 3, 2025 (with an effective date of September 23, 2025),
which was prepared for ATEX by SRK Consulting (Canada) Inc. in accordance with NI 43-101 (the
"
Valeriano Technical Report
").
About ATEX
ATEX Resources is a mineral exploration company advancing its flagship Valeriano Copper-Gold
Project, located in the Atacama Region III of Chile, widely recognized as one of the world's most
prospective and mining-friendly jurisdictions. The Valeriano Project is emerging as one of the leading
undeveloped copper assets globally and anchors an expanding, globally significant copper district. As
such, it is well positioned to play an important role in meeting future demand amid increasingly
constrained global copper supply. Valeriano currently has an Indicated Mineral Resource of 475 Mt at
0.88% CuEq (0.58% Cu, 0.25 g/t Au, 1.39 g/t Ag and 70.4 g/t Mo) and an Inferred Mineral Resource of
1,511 Mt at 0.75% CuEq (0.50% Cu, 0.20 g/t Au, 1.16 g/t Ag and 70.6 g/t Mo), as reported in the
Company's technical report entitled "
Independent Technical Report for the Valeriano Copper-Gold
Project, Atacama Region, Chile
" dated November 3, 2025, and with an effective date of September 23,
2025. For further information regarding the Mineral Resource estimates, please visit the ATEX
Resources website at https://atexresources.com/valeriano-project/technical-reports.
For further information, please contact:
Chris Beer,
Interim 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 information" and "forward-looking statements" within the
meaning of applicable Canadian securities legislation (collectively, "
forward-looking statements
"). All
statements, other than statements of historical fact, contained in this news release that address
activities, events, or developments that the Company expects or anticipates will or may occur in the
future constitute forward-looking statements. Forward-looking statements are often, but not always,
identified by words or phrases such as "plans," "expects," "is expected," "scheduled," "estimates,"
"intends," "anticipates," "believes," "potential," "continues," "targeted," "remains open," "in progress,"
"pending," "underway," or similar expressions, or statements that certain events, actions, or results
"may," "could," "would," "might," "should," or "will" occur, be taken, or be achieved.
Forward-looking statements in this news release include, but are not limited to, statements regarding:
the potential for further extensions of the B2B Zone and other mineralized zones at the Project;
expectations for the Phase VI or Phase VII drill program, including the timing, completion, and results of
ongoing and future drilling activities; the potential for resource growth at the Project; the timing of receipt
of assay results and laboratory turnaround times; the interpretation of exploration data and
mineralization; the geological potential and characteristics of the Project; the potential for discovering
additional breccia bodies and mineralization; and the Company's exploration plans and objectives.
Forward-looking statements are based on certain assumptions and analyses made by the Company in
light of its experience and perception of historical trends, current conditions, and expected future
developments, as well as other factors it believes are appropriate in the circumstances. Although the
Company believes that the assumptions underlying these forward-looking statements are reasonable,
they may prove to be incorrect, and the Company cannot assure investors that actual results will be
consistent with these forward-looking statements. Whether actual results, performance, or achievements
will conform to the Company's expectations and predictions is subject to a number of known and
unknown risks, uncertainties, assumptions, and other factors.
Such risks and uncertainties include, but are not limited to: general economic, market, and business
conditions; uncertainties related to the interpretation of drill results and the geology, grade, and continuity
of mineral deposits; the inherent uncertainties in exploration activities; risks associated with exploration,
development, and mining operations; risks related to fluctuations in metal prices, including copper, gold,
silver, and molybdenum; risks associated with the adequacy of capital and financing; risks inherent in the
estimation of mineral resources, including with respect to the assumptions underlying the 2025 Mineral
Resource Estimate referred to herein; the potential for significant variations in results from those
expected; uncertainties related to laboratory assay turnaround times; operational risks, including risks
related to equipment and infrastructure; regulatory and permitting risks in Chile and Canada; political,
economic, and social risks in Chile; environmental risks and hazards; title matters and surface rights;
competition in the mining industry; the Company's ability to retain key personnel; currency exchange rate
fluctuations; risks associated with maintaining adequate insurance; and other risks and uncertainties
described in the Company's filings with Canadian securities regulators, which are available on SEDAR+
(
www.sedarplus.ca
) under ATEX's issuer profile.
Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect
forward-looking statements. All forward-looking statements herein are qualified by this cautionary
statement. Accordingly, readers should not place undue reliance on forward-looking statements. The
Company undertakes no obligation to update publicly or otherwise revise any forward-looking
statements, whether as a result of new information, future events, or otherwise, except as may be
required by applicable law.
[i]
Please refer to the ATEX Resources website (
www.atexresources.com
) for the corresponding news releases and full details related to the drill
intervals shown in this figure.
[ii]
Please refer to the ATEX Resources website (
www.atexresources.com
) for the corresponding news releases and full details related to the drill
intervals shown in this figure.
[iii]
Please refer to the ATEX Resources website (
www.atexresources.com
) for the corresponding news releases and full details related to the drill
intervals shown in this figure.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/304442