ATEX Significantly Expands B2B Mineralized Footprint by 135 Meters to the East; Mineralization Remains Open ATXD34 Intersected 172 Meters of 0.80% CuEq Within 834 Meters of 0.66% CuEq in First Drill Hole Testing New Targets
ATEX Significantly Expands B2B Mineralized
Footprint by 135 Meters to the East;
Mineralization Remains Open
ATXD34 Intersected 172 Meters of 0.80% CuEq Within 834
Meters of 0.66% CuEq in First Drill Hole Testing New Targets
East of High-Grade B2B Breccia Horizon
Toronto, Ontario--(Newsfile Corp. - March 16, 2026) -
ATEX Resources Inc. (TSXV: ATX) (OTCQB:
ATXRF)
("
ATEX
" or the "
Company
") is pleased to announce its next set of drill results from the
Valeriano Copper-Gold project ("
Valeriano
" or the "
Project
") in the Atacama Region of Chile. Six
diamond rigs continue to operate at the Project and have completed approximately 24,000 meters ("
m
"),
representing over 95% of the planned 25,000m Phase VI drill exploration program announced on
October 1, 2025. The drill program is tracking ahead of schedule and is now expected to exceed over
30,000m of drilling by the end of the season.
"Today's drill results represent another important step forward in our understanding of the structural
controls and orientation of the higher-grade breccia within a broader mineralized system that has now
been significantly expanded to the east. This horizon lies above the high-grade Valeriano porphyry
trend and remains open for further expansion into untested areas,"
commented Chris Beer, Interim
CEO of ATEX.
"Hole ATXD34 intersected strong, continuous copper and gold grades transitioning eastward from the
B2B Zone into an area where alteration and mineralization overprinting may indicate the presence of
a separate porphyry center. Results from a recently completed geophysical survey over this area
indicate that this mineralization occurs within a larger anomaly extending further east and will be
targeted in future drill holes. ATXD30 and ATXD33 also intersected porphyry-style mineralization and
alteration extending north and southeast of the current mineralized footprint, highlighting a
mineralized corridor that now spans 1.8 km from north to south."
Highlights:
ATXD34 extends the broader lateral footprint of the B2B Zone and associated
mineralization by at least 135m to the east, representing a significant increase relative to
the current estimated 200m thickness of the B2B zone.
Mineralization and alteration intersected in ATXD34 may represent the onset of a new,
untested porphyry system proximal to the Valeriano system (see Figures 1 & 2).
ATXD33, as shown in Figure 2, was a significant 525m step-out hole southeast of existing
mineralization designed to test a geophysical anomaly. Results confirm that porphyry
related mineralization continues well beyond the currently defined extents of the
Valeriano system.
ATXD30, the second regional exploration hole, located 625m north of the B2B Zone,
intersected peripheral porphyry-related alteration and anomalous mineralization,
confirming that the mineralized system remains open to the north.
Porphyry-related mineralization has now been intersected over an approximately 1.8 km
north-south corridor, underscoring the scale and expansion potential of the Valeriano
system.
Figure 1. Long-Section of B2B and Porphyry Models
i,ii,iii
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Figure 2. Plan Map of Phase VI Drill Holes
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Technical Summary:
ATXD34
intersected
172m of 0.80% CuEq
(0.56% Cu, 0.16 g/t Au, 0.9 g/t Ag, 167.0 g/t Mo)
within a broader interval of
834m of 0.66% CuEq
(0.48% Cu, 0.13 g/t Au, 1.0 g/t Ag, 90.2 g/t Mo),
located approximately 135m east of the B2B Zone.
This hole was designed to test for high-grade breccia mineralization comparable to the B2B
Zone and returned long, well-mineralized intervals within the high-grade breccia elevation
window.
Ongoing interpretation and further drilling will determine whether this intercept represents the
eastern edge of the B2B Zone or a new mineralized porphyry zone as defined in recent
geophysical studies.
Chalcopyrite and bornite mineralization with associated brecciation and alteration
characteristic of the B2B Zone was intersected from approximately 800m downhole to the
end of the hole.
ATXD33
intersected
198m of 0.14%
CuEq
(0.10% Cu, 0.03 g/t Au, 0.3 g/t Ag, 22.5 g/t Mo), and
134m of 0.13% CuEq
(0.10% Cu, 0.02 g/t Au, 0.3 g/t Ag, 38.1 g/t Mo) located along strike and
approximately 325m southeast of the Valeriano Porphyry.
This hole was designed as a significant step-out to test a southern magnetic anomaly associated
with the approximately 1,100m porphyry system. The anomaly lies approximately 325m southeast
of the Valeriano Porphyry and approximately 525m along strike from Phase IV hole
ATXD16A
which intersected
852m of 0.82% CuEq
(0.60% Cu, 0.28 g/t Au, 0.98 g/t Ag and 72.0 g/t Mo)
iv
.
The hole intersected anomalously mineralized rock-milled breccia from approximately
1,100m to 1,300m downhole, a lithology commonly associated with mineralized porphyry
environments.
Below this interval, drilling encountered coarse-grained porphyry with strong potassic
alteration, a key alteration style typically associated with the core of copper-gold porphyry
mineralization, along with localized white sericite, quartz, and kaolinite alteration from
approximately 1,300m downhole.
Results from ATXD33 indicate that mineralization remains open to the south and with further
evaluation progressing in the current drill program.
ATXD30
was designed to test anomalies within the breccia horizon approximately 625m north of
the B2B Zone and 475m north of the Valeriano Porphyry.
The hole targeted a northern magnetic anomaly associated with the porphyry system.
Drilling intersected alteration, veining and anomalous mineralization, potentially derived from
a new proximal porphyry system.
Table 1 - Complete Results for ATXD33 and ATX34
Hole ID
From
To
Interval
Cu
Au
Ag
Mo
CuEq %
MRS
(1)
Zone
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(g/t)
ATXD34
778
1,612
834
0.48
0.13
1.0
90.2
0.66
Incl.
912
1,084
172
0.56
0.16
0.9
167.0
0.80
HG Breccia Elevation
Incl.
1,174
1,246
72
0.63
0.14
0.9
63.5
0.80
HG Breccia Elevation
ATXD33
1,102
1,300
198
0.10
0.03
0.3
22.5
0.14
HG Breccia Elevation
And
1,554
1,688
134
0.10
0.02
0.3
38.1
0.13
Porphyry Elevation
Notes
:
(1) CuEq calculated using recoveries assumed in 2025 Mineral Resource Estimate (see 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) ATXD34 includes a wedge hole (ATXD34A) drilled to re-orient the intercept. The intervals are reported as a continuous composite at a cut-off of
0.3% CuEq with an internal dilution of 2m for 778m to 1,612m.
(5) ATXD33 was composted at a cut-off of 0.05% CuEq.
(6) Reported intervals are drill intersections and do not necessarily represent true widths.
Phase VI Drill Program Update
The Phase VI drill program continues with six diamond drill rigs active on site and has completed
approximately 24,000m of the targeted 25,000m of drilling. Approximately 11,750m have been drilled in
the high-grade B2B Zone, with a further 10,600m completed on nearby high-grade breccia targets and
1,600m on porphyry targets. We have now completed 13 holes and 4 mother holes, with 6 holes in
progress. Details of drill holes currently in progress are provided below. Assay results will be reported as
they are finalized and received from the laboratory.
Hole
Zone
Status
Description
ATXD19A
B2B and Porphyry
In progress
Southern extension of B2B Zone
ATXD23C
B2B
In progress
Testing up-dip extension of B2B Zone
ATXD25D
B2B
Assays pending
Northern extension of B2B Zone
ATXD25E
B2B
In progress
Depth extension potential in central B2B Zone
ATXD26C
B2B
Assays pending
NE extension of B2B
ATXD31A
B2B and Porphyry
Assays pending
NNW continuity of B2B Zone at lower elevation in transition
to porphyry system
ATXD31B
B2B
Assays pending
NNW continuity of B2B Zone above ATXD31A
ATXD31C
B2B
In progress
Potential extension of high-grade B2B core
ATXD35
New Target
Assays pending
Magnetic anomaly ~250m NE of B2B Zone
ATXD36
New Target
Assays pending
Magnetic anomaly ~850m NE of B2B Zone
ATXD37
Porphyry
In progress
Seismic anomaly ~480m north of the B2B Zone
ATXD39A
Porphyry
In progress
Southern extension of porphyry high-grade trend
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. 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 a "qualified person"
(as defined by National Instrument 43-101 –
Standards for Disclosure for Mineral Projects
("
NI 43-
101
")) and has reviewed and approved the scientific and technical disclosure in this news release on the
Valeriano Copper Gold Porphyry Project. Mr. Pullinger, a former senior officer and director of the
Company, is not considered to be "independent" of the Company for purposes of Section 1.5 of NI 43-
101. Mr. Pullinger resigned as President and CEO of the Company and from the Board of Directors of
the Company effective January 31, 2026, and continues to serve as an advisor to the Company in
connection with its technical disclosure during a transition period.
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 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).
Valeriano hosts a large, high-grade, copper-gold porphyry Mineral Resource: an Indicated 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) at a cutoff grade of 0.35%
Cu, and an Inferred 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) at a cut-off grade of 0.35% Cu, as reported on September 23, 2025.
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 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.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the
adequacy or accuracy of this release.
i
Please see news titled "ATEX Intersects 146 Meters Of 2.00% CuEq At B2B Zone With Over 600 Meters Of Results Still Pending", reported on
December 18, 2025, for ATXD25C summary results.
ii
Please see news titled "ATEX Extends High-Grade Breccia Mineralization by 100 Meters to the North at the B2B Zone", reported on February 12,
2026, for ATXD32 and ATXD26B complete results.
iii
Please see news 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,
for ATXD23A and ATXD29A results from Phase V; please see news titled
"ATEX Demonstrates Scalability and Discovers Overprinting High-Grade System in Phase IV Drill Program", reported on June 25, 2024 for
ATXD26 results from Phase IV.
iv
Please see news titled "ATEX Expands High-Grade Early Porphyry At Valeriano Intersects 112 Metres Of 1.42% CuEq Within A Longer Interval
Of 852m Grading 0.82% CuEq", reported on February 22, 2024, for ATXD16A summary results.
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