ATEX Resources Inc. (TSXV: ATX) has intersected wide zones of mineralized early porphyry in two completed drill holes its Phase III drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile.
Highlights include:
- ATXD-23 intersected 550m of mineralized early porphyry, between 1,500m and 2,050m downhole.
- ATXD-23 extends the strike length of the Western Trend by approximately 200m north of hole ATXD-11B that intersected 1,342.5m of 0.73% CuEq (0.46% Cu, 0.31g/t Au and 43ppm Mo) and was released on March 30, 2023.
- Copper mineralization in the early porphyry consists mainly of chalcopyrite and to a lesser extent bornite, consistent with mineralization observed in ATXD-11B.
- Additionally, ATXD-23 intersected 650m of chalcopyrite-bearing Rock Milled Breccia (RMB) above the early porphyry interval from a depth of 850m downhole to the porphyry contact at 1,500m.
- ATXD-22A (daughter hole) drilled southeast out of ATDX-22 intersected altered chalcopyrite bearing RMB and mineralized late porphyry units.
- The final two holes of the program, ATXD-24 and ATXD-22B are anticipated to be completed by the end of May.
- Complete assays for ATXD-23 and ATXD-22A are expected by late May.
“Our Phase III drill programme continues to successfully deliver on its objectives with hole ATXD-23 significantly extending the newly discovered Western Trend which remains open along strike to the northeast,” President, and CEO, Raymond Jannas, said.
“We have now confirmed 750m of strike extent along the Western Trend between drill holes VAL-09 and ATXD-23, demonstrating continuity of the geology and mineralization within this new trend.”
Outlook
The Phase III campaign continues to focus on its stated objectives of expanding the mineralized corridor through step out drilling along strike, primarily to the northeast, testing new targets along this corridor and seeking to define the continuity and geometry of the porphyry trends.
Two diamond drill holes are currently underway:
- ATXD-24 an inclined drill hole is drilled from surface to intersect the Western Trend 200m south along strike from ATXD-11B and is planned to reach the Central High-Grade Trend at depth.
- ATXD-22B, (daughter hole) being drilled to the northwest out of ATXD-22 (970m of 0.51% CuEq and was released on March 30, 2023). This hole is testing the northern extension of the Central High-Grade Trend 200m beyond ATXD-11A which intersected 0.63% CuEq over 1,270m including 0.81% CuEq over 170m along this trend.
For further information please visit: https://atexresources.com/
