ATEX Intersects 104 Metres of 1.06% CuEq Within 568 Metres of 0.86% CuEq, Extending High-Grade Porphyry Trend at Valeriano
ATEX Resources (TSXV: ATX) reported significant drilling results from its Phase V campaign at the Valeriano Copper-Gold Project in Chile. Key highlights include hole ATXD29A intersecting 104 metres of 1.06% copper equivalent within a broader interval of 568 metres of 0.86% CuEq. The high-grade porphyry trend remains open to the north-northwest.
Additional results include ATXD25B intersecting 199m grading 0.71% CuEq within 539m of 0.59% CuEq, and ATXD22D hitting 132m of 0.84% CuEq within a broader 942m of 0.66% CuEq. The company also received CAD$9.75 million from warrant exercises, with potential for an additional CAD$9.75 million from remaining warrants.
Phase V drilling program completed approximately 16,600 metres, with results pending from three remaining holes. Phase VI is expected to commence in September 2025.
ATEX Resources (TSXV: ATX) ha riportato risultati significativi dalle perforazioni della Fase V presso il Progetto Rame-Oro Valeriano in Cile. Tra i punti salienti, il foro ATXD29A ha intercettato 104 metri con un equivalente rame dell'1,06% all'interno di un intervallo più ampio di 568 metri con un equivalente rame dello 0,86%. La tendenza porfirica ad alta gradazione rimane aperta verso nord-nordovest.
Ulteriori risultati includono ATXD25B con 199 m al 0,71% CuEq entro 539 m al 0,59% CuEq, e ATXD22D con 132 m al 0,84% CuEq entro un intervallo più ampio di 942 m al 0,66% CuEq. La società ha inoltre incassato 9,75 milioni di CAD derivanti dall'esercizio di warrant, con un potenziale ulteriore di 9,75 milioni di CAD dai warrant residui.
Il programma di perforazione della Fase V ha completato circa 16.600 metri, con risultati in attesa da tre fori rimanenti. La Fase VI è prevista per iniziare a settembre 2025.
ATEX Resources (TSXV: ATX) reportó resultados significativos de perforación en su campaña de Fase V en el Proyecto de Cobre y Oro Valeriano en Chile. Los puntos clave incluyen el pozo ATXD29A, que intersectó 104 metros con un equivalente de cobre del 1.06% dentro de un intervalo más amplio de 568 metros con 0.86% CuEq. La tendencia de pórfido de alta ley permanece abierta hacia el norte-noroeste.
Resultados adicionales incluyen ATXD25B con 199 m con 0.71% CuEq dentro de 539 m con 0.59% CuEq, y ATXD22D con 132 m con 0.84% CuEq dentro de un intervalo más amplio de 942 m con 0.66% CuEq. La compañía también recibió 9.75 millones de CAD por el ejercicio de warrants, con potencial para otros 9.75 millones de CAD por warrants restantes.
El programa de perforación de la Fase V completó aproximadamente 16,600 metros, con resultados pendientes de tres pozos restantes. Se espera que la Fase VI comience en septiembre de 2025.
ATEX Resources (TSXV: ATX)는 칠레 Valeriano 구리-금 프로젝트의 5단계 시추 캠페인에서 중요한 시추 결과를 보고했습니다. 주요 내용으로는 ATXD29A 구멍이 1.06% 구리 등가 104미터를 넓은 구간인 0.86% CuEq 568미터 내에서 관통했습니다. 고등급 포피리 광맥 추세는 북북서 방향으로 열려 있습니다.
추가 결과로는 ATXD25B가 0.71% CuEq 199미터를 0.59% CuEq 539미터 구간 내에서, ATXD22D가 0.84% CuEq 132미터를 0.66% CuEq 942미터 구간 내에서 관통했습니다. 회사는 또한 워런트 행사로부터 975만 캐나다 달러를 확보했으며, 남은 워런트로 추가 975만 캐나다 달러가 기대됩니다.
5단계 시추 프로그램은 약 16,600미터를 완료했으며, 세 개 구멍의 결과가 아직 남아 있습니다. 6단계는 2025년 9월에 시작될 예정입니다.
ATEX Resources (TSXV : ATX) a annoncé des résultats significatifs de forage issus de sa campagne de Phase V au projet cuivre-or Valeriano au Chili. Les points clés incluent le trou ATXD29A, qui a intercepté 104 mètres à 1,06 % d'équivalent cuivre dans un intervalle plus large de 568 mètres à 0,86 % CuEq. La tendance porphyrique à haute teneur reste ouverte vers le nord-nord-ouest.
D'autres résultats comprennent ATXD25B, avec 199 m à 0,71 % CuEq dans 539 m à 0,59 % CuEq, et ATXD22D, avec 132 m à 0,84 % CuEq dans un intervalle plus large de 942 m à 0,66 % CuEq. La société a également reçu 9,75 millions de CAD provenant de l'exercice de bons de souscription, avec un potentiel supplémentaire de 9,75 millions de CAD issus des bons restants.
Le programme de forage de la Phase V a complété environ 16 600 mètres, avec des résultats en attente de trois trous restants. La Phase VI devrait commencer en septembre 2025.
ATEX Resources (TSXV: ATX) meldete bedeutende Bohrergebnisse aus seiner Phase-V-Kampagne beim Valeriano Kupfer-Gold-Projekt in Chile. Zu den wichtigsten Highlights gehört, dass Bohrloch ATXD29A 104 Meter mit 1,06% Kupferäquivalent innerhalb eines breiteren Intervalls von 568 Metern mit 0,86% CuEq durchteufte. Der hochgradige Porphyr-Trend bleibt nach Nord-Nordwesten offen.
Weitere Ergebnisse umfassen ATXD25B mit 199 m bei 0,71% CuEq innerhalb von 539 m bei 0,59% CuEq und ATXD22D mit 132 m bei 0,84% CuEq innerhalb eines breiteren Intervalls von 942 m bei 0,66% CuEq. Das Unternehmen erhielt außerdem 9,75 Millionen CAD aus der Ausübung von Warrants, mit Potenzial für weitere 9,75 Millionen CAD aus verbleibenden Warrants.
Das Bohrprogramm der Phase V wurde mit etwa 16.600 Metern abgeschlossen, Ergebnisse von drei verbleibenden Bohrlöchern stehen noch aus. Phase VI soll im September 2025 beginnen.
- Strong drill results with hole ATXD29A hitting 104m of 1.06% CuEq within 568m of 0.86% CuEq
- High-grade porphyry trend remains open for expansion to north-northwest
- CAD$9.75 million received from warrant exercises with potential for additional CAD$9.75 million
- Successful completion of 16,600 metres Phase V drilling program
- Phase VI drilling program scheduled to commence September 2025
- Three drill holes still pending assay results
- Some drill holes were paused or suspended before reaching target depth
Toronto, Ontario--(Newsfile Corp. - July 8, 2025) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce the remaining assay results for drill hole ATXD29A, and assay results for ATXD25B and ATXD22D, representing the ninth and tenth drill holes from its Phase V drill campaign at the Valeriano Copper-Gold Project ("Valeriano" or the "Project"), located in the Atacama Region, Chile. Results from the remaining three drill holes are expected to be released in the coming weeks.
Highlights include:
- ATXD29A, intersected Early Porphyry, below the previously reported B2B interval, hitting 104 metres ("m") of
1.06% copper equivalent ("CuEq") (0.65% Cu, 0.59 g/t Au, 3.0 g/t Ag, 5 g/t Mo) within a broader interval of 568m of0.86% CuEq (0.55% Cu, 0.43 g/t Au, 2.5 g/t Ag and 7 g/t Mo) starting at 1,366m downhole.
- The high-grade trend remains open to the north-northwest and represents an opportunity for further extension in Phase VI.
- ATXD25B, intersected 199m grading
0.71% CuEq (0.51% Cu, 0.27 g/t Au, 1.9 g/t Ag, 8 g/t Mo) within a broader interval of 539m of0.59% CuEq (0.45% Cu, 0.16 g/t Au, 1.1 g/t Ag, 51 g/t Mo) from 1,298m downhole where it targeted the northern most extent of the Valeriano Porphyry.
- From 1,337m downhole it intersected mineralized potassic alteration with chalcopyrite and bornite where it ultimately deviated beyond target parameters and was stopped short of the planned length.
- ATXD22D intersected 132m of
0.84% CuEq (0.63% Cu, 0.18 g/t Au, 0.9 g/t Ag, 207 g/t Mo) from 948m downhole, and 210m of0.75% CuEq (0.55% Cu, 0.21 g/t Au, 1.0 g/t Ag and 119 g/t Mo) from 1,304m downhole. Both intervals are included within a broader interval of 942m of0.66% CuEq (0.50% Cu, 0.17 g/t Au, 1.0 g/t Ag and 88 g/t Mo) starting at 878m downhole.
- ATXD22D is an infill hole within the existing porphyry footprint targeting an under-drilled area located 215m east of high-grade hole VALDD13-014 (272m of
0.93% CuEq (0.72% Cu, 0.28 g/t Au, 1.52 g/t Ag, 21 g/t Moi) and 240m east of hole ATXD24 ((670m of0.81% CuEq (0.60% Cu, 0.24 g/t Au, 101 ppm Moii) including 312.4m of0.94% CuEq (0.73% Cu, 0.30 g/t Au, 77 ppm Mo)).
- ATEX is also pleased to announce it has received CAD
$9.75 million in total proceeds from the exercise of 7.5 million common share purchase warrants ("Warrants") priced at$1.30 . The 7.5 million Warrants exercised represents50% of the Warrants expiring on July 11, 2025. The conversion of the remaining 7.5 million Warrants would add a further CAD$9.75 million to the Company's treasury.
Ben Pullinger, President and CEO, commented: "These latest results continue to demonstrate the scale and continuity of the high-grade porphyry corridor at Valeriano, while further extending mineralization to the north. Hole ATXD29A returned some of the best grades we've seen in this program and confirms the strength of the system beyond the previously drilled limits. As we reflect on a very successful Phase V campaign and look ahead to an updated Mineral Resource announcement and Phase VI commencement later this year, Valeriano is quickly emerging as one of the most significant undeveloped copper-gold projects in the Americas. We also extend our sincere appreciation to our shareholders for exercising their warrants and demonstrating continued confidence in the Company."
Phase V Update – Pending Assay Results from Three Drill Holes
ATEX's exploration objectives for Phase V were focused on three priorities:
- B2B Breccia Zone – a high-grade breccia body with copper-gold mineralization, situated approximately 600 metres above the high-grade porphyry corridor. This zone is currently being delineated for geometry and scale.
- High-Grade Porphyry Corridor– a continuous high-grade (>
1% CuEq) trend of bornite and chalcopyrite-bearing mineralization within the Porphyry footprint measuring approximately 1,000m along strike, and remains open to the north-northwest.
- Broader Porphyry Footprint – testing the large mineralized system encompassing both Early and Inter-mineral porphyry phases, tested through infill and step-out drilling with limits still not known.
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 29) and five partial holes (ATXD22D, 25C, 27B, 28A, and 29A) that will be completed as part of the Phase VI program. Results from the three remaining unreported drill holes (ATXD25C, 27B, 28A) will be announced over the coming weeks (Table 3). Using directional drilling techniques, ATEX has saved approximately 9,200m of drilling compared to conventional drilling methods enhancing the overall effectiveness of the program.
Following the record setting results achieved in Phase V on the Valeriano Project, Phase VI is anticipated to commence 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).
Table 1 - Summary Results for ATXD22D & ATXD25B and Updated Partial Results for ATXD29A
| Hole ID(3),(4) | From | To | Interval | Cu | Au | Ag | Mo | CuEq % MRS(1,2) |
| (m) | (m) | (m) | (%) | (g/t) | (g/t) | (g/t) | ||
| ATXD22D | 878 | 1,820 | 942 | 0.50 | 0.17 | 1.0 | 88 | 0.66 |
| Incl. | 948 | 1,080 | 132 | 0.63 | 0.18 | 0.9 | 207 | 0.84 |
| Incl. | 1,304 | 1,514 | 210 | 0.55 | 0.21 | 1.0 | 119 | 0.75 |
| ATXD25B | 1,298 | 1,837 | 539 | 0.45 | 0.16 | 1.1 | 51 | 0.59 |
| Incl. | 1,638 | 1,837 | 199 | 0.51 | 0.27 | 1.9 | 8 | 0.71 |
| ATXD29A | 732 | 1,934 | 1,202 | 0.61 | 0.33 | 2.0 | 104 | 0.89 |
| Incl. | 732 | 1,268 | 536iii | 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 |
| Incl. | 1,366 | 1,934 | 568 | 0.55 | 0.43 | 2.5 | 7 | 0.86 |
| Incl. | 1,388 | 1,528 | 140 | 0.65 | 0.46 | 2.4 | 10 | 0.98 |
| Incl. | 1,668 | 1,772 | 104 | 0.65 | 0.59 | 3.0 | 5 | 1.06 |
(1) CuEq calculated using recoveries assumed in 2023 MRE (
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 (
(2) CuEq reported assuming metal prices of US
(3) ATXD22D, ATXD25B and ATXD29A were composited at a cut-off of
(4) 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/6303/258033_fc9e6e562433b9b1_001full.jpg
Figure 2. Plan Map of High-Grade Porphyry Trend & B2B Breccia
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/258033_fc9e6e562433b9b1_002full.jpg
Phase V Drill Results and Three Holes Remaining with Pending Assay Results
A discussion of holes ATXD29A, ATXD25B and ATXD22D 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
- 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. Assay results are 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. Assay results are pending.
Valeriano Porphyry Exploration
- ATXD29A (paused at 1,934 metres) is a daughter hole from ATXD29 and was targeting the B2B breccia approximately 100m up dip from the intersections drilled in ATXD26 and ATXD23A. Partial hole results were disclosed on June 9, 2025iv in the B2B Zone, and the outstanding intervals in the Valeriano Porphyry have since been received and are detailed below.
- The 104m (from 1,668m to 1,772m) interval of
1.06% CuEq (0.65% Cu, 0.59 g/t Au, 3.0 g/t Ag, 5 g/t Mo) intersected bornite-chalcopyrite mineralized Early Porphyry showing continuity in the high-grade trend of mineralized porphyry to the north.
- The high-grade trend remains open to the north-northwest and represents an opportunity to further extend porphyry high-grade mineralization in Phase VI.
- ATXD25B (completed at 1,837m) is the second daughter hole from ATXD25A located 250m above and following up on ATXD25A. The hole was designed to test mineralized intersections up-dip and intersected well-mineralized host rock above ATXD25A.
- ATXD25B intersected 199m of
0.71% CuEq (0.51% Cu, 0.27 g/t Au, 1.9 g/t Ag, 8 g/t Mo) from 1,638m to 1,837m associated with chalcopyrite-bornite mineralized wall rock, within a broader interval of 539m of0.59% CuEq (0.45% Cu, 0.16 g/t Au, 1.1 g/t Ag, 51 g/t Mo) from 1,298m downhole to 1,837m in chalcopyrite, pyrite and bornite mineralized wall rock.
- 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. Assay results are pending from 1,788m to final depth.
- The 210m interval (from 1,304 m to 1,514m) of
0.75% CuEq (0.55% Cu, 0.21 g/t Au, 1.0 g/t Ag, 119 g/t Mo) intersected potassic alteration in chalcopyrite-bornite mineralized Early and Intermineral Porphyry.
- The drill hole is situated in an area previously untested and demonstrates continuity of mineralized porphyry east of the high-grade trend.
- The 132m interval (from 948m to 1,080m) of
0.84% CuEq (0.63% Cu, 0.18 g/t Au, 0.9 g/t Ag, 207 g/t Mo) intersected chalcopyrite-mineralized Rock Milled Breccia (RMB).
- 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. Assay results are pending.
Table 2 – Detailed Results with Metallurgical Recoveries for Phase V Drill Holes to Date
| Hole ID | From (m) | To (m) | Interval (m) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (g/t) | CuEq % MRS(1,3) | CuEq % Met(2,3) | Date |
| ATXD16B | 1,044 | 1,824 | 780 | 0.56 | 0.23 | 0.9 | 90 | 0.76 | 0.81 | March 18, 2025 |
| Incl. | 1,364 | 1,690 | 326 | 0.71 | 0.29 | 1.1 | 87 | 0.95 | 1.01 | |
| Incl. | 1,414 | 1,646 | 232 | 0.75 | 0.31 | 1.2 | 88 | 1.00 | 1.06 | |
| ATXD23A | 822 | 2,042 | 1,220 | 0.66 | 0.28 | 1.9 | 130 | 0.91 | 0.98 | March 18, 2025 |
| Incl. | 1,036 | 1,378 | 342 | 1.05 | 0.47 | 3.0 | 326 | 1.52 | 1.65 | |
| Incl. | 1,092 | 1,378 | 286 | 1.17 | 0.53 | 3.4 | 340 | 1.69 | 1.83 | |
| Incl. | 1,162 | 1,378 | 216 | 1.34 | 0.63 | 4.1 | 334 | 1.93 | 2.08 | |
| Incl. | 1,226 | 1,378 | 152 | 1.52 | 0.75 | 4.9 | 161 | 2.12 | 2.28 | |
| Incl. | 1,334 | 1,356 | 22 | 2.35 | 1.31 | 8.6 | 29 | 3.30 | 3.54 | |
| ATXD25A | 1,230 | 1,832 | 602 | 0.40 | 0.16 | 1.0 | 57 | 0.54 | 0.57 | April 22, 2025 |
| Incl. | 1,770 | 1,830 | 60 | 0.60 | 0.49 | 2.4 | 5 | 0.94 | 1.03 | |
| And | 1,874 | 1,982 | 108 | 0.87 | 1.18 | 5.5 | 9 | 1.69 | 1.90 | |
| Incl. | 1,892 | 1,922 | 30 | 2.21 | 3.17 | 15.1 | 3 | 4.40 | 4.97 | |
| Incl. | 1,896 | 1,912 | 16 | 3.04 | 4.82 | 21.1 | 5 | 6.36 | 7.22 | |
| ATXD23B | 1,028 | 1,238 | 210 | 0.60 | 0.21 | 1.0 | 210 | 0.83 | 0.90 | April 22, 2025 |
| Incl. | 1,212 | 1,236 | 24 | 0.81 | 0.30 | 1.2 | 136 | 1.07 | 1.15 | |
| And | 1,264 | 1,999 | 735 | 0.47 | 0.14 | 1.0 | 39 | 0.59 | 0.62 | |
| Incl. | 1,274 | 1,318 | 44 | 0.83 | 0.21 | 1.4 | 36 | 1.00 | 1.04 | |
| ATXD27A | 1,172 | 1,626 | 454 | 0.48 | 0.13 | 0.9 | 121 | 0.62 | 0.66 | April 22, 2025 |
| And | 1,636 | 2,148 | 512 | 0.58 | 0.27 | 1.7 | 18 | 0.78 | 0.83 | |
| Incl. | 1,672 | 1,714 | 42 | 0.84 | 0.49 | 3.1 | 9 | 1.20 | 1.29 | |
| Incl. | 1,888 | 1,920 | 32 | 0.77 | 0.31 | 1.7 | 19 | 1.00 | 1.05 | |
| ATXD28 | 834 | 1,924 | 1,090 | 0.56 | 0.32 | 1.8 | 57 | 0.81 | 0.87 | June 2, 2025 |
| Incl. | 1,098 | 1,188 | 90 | 0.71 | 0.30 | 1.4 | 80 | 0.95 | 1.01 | |
| Incl. | 1,398 | 1,486 | 88 | 0.78 | 0.35 | 2.4 | 18 | 1.03 | 1.10 | |
| Incl. | 1,643 | 1,924 | 281 | 0.55 | 0.53 | 3.3 | 4 | 0.93 | 1.02 | |
| ATXD22C | 770 | 1,814 | 1,044 | 0.46 | 0.18 | 1.2 | 48 | 0.61 | 0.65 | June 9, 2025 |
| Incl. | 950 | 1,012 | 62 | 0.69 | 0.19 | 1.0 | 157 | 0.88 | 0.94 | |
| Incl. | 1,694 | 1,804 | 110 | 0.49 | 0.31 | 2.2 | 2 | 0.71 | 0.77 | |
| ATXD29A | 732 | 1,268 | 536 | 0.75 | 0.28 | 1.7 | 225 | 1.04 | 1.12 | June 9, 2025 |
| Incl. | 1,052 | 1,232 | 180 | 1.23 | 0.53 | 2.9 | 327 | 1.74 | 1.88 | |
| Incl. | 1,106 | 1,232 | 126 | 1.47 | 0.67 | 3.7 | 252 | 2.04 | 2.20 | |
| Incl. | 1,124 | 1,160 | 36 | 2.10 | 1.02 | 6.2 | 542 | 3.05 | 3.30 | |
| ATXD22D | 878 | 1,820 | 942 | 0.50 | 0.17 | 1.0 | 88 | 0.66 | 0.71 | July 8, 2025 |
| Incl. | 948 | 1,080 | 132 | 0.63 | 0.18 | 0.9 | 207 | 0.84 | 0.90 | |
| Incl. | 1,304 | 1,514 | 210 | 0.55 | 0.21 | 1.0 | 119 | 0.75 | 0.80 | |
| ATXD25B | 1,298 | 1,837 | 539 | 0.45 | 0.16 | 1.1 | 51 | 0.59 | 0.63 | July 8, 2025 |
| Incl. | 1,638 | 1,837 | 199 | 0.51 | 0.27 | 1.9 | 8 | 0.71 | 0.76 | |
| ATXD29A | 732 | 1,934 | 1,202 | 0.61 | 0.33 | 2.0 | 104 | 0.89 | 0.96 | July 8, 2025 |
| Incl. | 1,366 | 1,934 | 568 | 0.55 | 0.43 | 2.5 | 7 | 0.86 | 0.94 | |
| Incl. | 1,388 | 1,528 | 140 | 0.65 | 0.46 | 2.4 | 10 | 0.98 | 1.06 | |
| Incl. | 1,668 | 1,772 | 104 | 0.65 | 0.59 | 3.0 | 5 | 1.06 | 1.16 |
(1) CuEq calculated using recoveries assumed in 2023 MRE (
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 calculated using recoveries reported from metallurgical test work results reported in Company news dated October 18, 2023 (
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).
(3) CuEq reported assuming metal prices of US
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 | ||||||||||||||||
| 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.
Change of Auditor
ATEX announces that effective July 8, 2025, the Company appointed MNP LLP as its new auditor, replacing McGovern Hurley LLP, until the next annual general meeting of shareholders. The change of auditor was approved by the Company's Audit Committee and Board of Directors. There were no reservations in the former auditor's reports and there are no "reportable events" (as such term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) in connection with the change of auditor. In accordance with regulatory requirements, the Company will file a Notice of Change of Auditor, together with the required letters from both the former and new auditors, on SEDAR+.
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
For further information, please contact:
Ben Pullinger,
President and CEO
Email: bpullinger@atexresources.com
Aman Atwal,
Vice President, Business Development and Investor Relations
Email: aatwal@atexresources.com
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.
iPlease 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, available at www.sedarplus.com and www.atexresources.com for additional details on the 2023 Mineral Resource Estimate for the Valeriano project.
iiSee July 13, 2023, news release titled: "ATEX Intersects
iiiSee news release titled: "ATEX Intersects 126 Metres of
ivSee news release titled: "ATEX Intersects 126 Metres of
vSee 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258033
FAQ
What were the key drilling results from ATEX Resources' Valeriano Project in July 2025?
How much funding did ATEX Resources receive from warrant exercises in July 2025?
What is the status of ATEX Resources' Phase V drilling program at Valeriano?
When will ATEX Resources begin Phase VI drilling at the Valeriano Project?
What is the copper equivalent (CuEq) calculation based on for the Valeriano Project?
