ATEX Resources Inc. (TSXV: ATX) has obtained further positive assays from its Phase III drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile.
- ATXD-23 successfully extended the high-grade trend discovered in ATXD-11B, intersecting 964m of 0.70% Copper Equivalent (AuEq) (0.48% Cu, 0.24g/t Au and 78ppm Mo) starting at 782m and including: 602m of 0.80% CuEq (0.50% Cu, 0.37 g/t Au and 11 ppm Mo) from 1,130m, and 120mof 0.90% CuEq (0.45% Cu, 0.54 g/t Au and 3ppm Mo) starting at 1,612m.
- Additionally, ATXD-23 intersected 192m of 0.56% CuEq (0.24% Cu, 0.40 Au and 4ppm Mo) from 1,858m to the bottom of the hole, ending in mineralization.
- The newly discovered Western Porphyry Trend now has a strike length of approximately 700m and remains open. The Phase IV programme will include holes testing further extensions of this high-grade discovery.
- ATXD-22A (daughter hole), targeting the Eastern Porphyry Trend, intersected 546m of 0.45% CuEq (0.32% Cu, 0.08g/t Au and 173ppm Mo) from 921.4m downhole.
- This mineralization continues from hole ATXD-22 (mother hole) grading 0.44% CuEq over 292m from 630 to 922m (0.31% Cu, 0.01g/t Au and 108ppm Mo) above the kickoff point for ATXD-22A.
- The final two holes of the programme, ATXD-24 and ATXD-22B reached depths of 1,842.4m and 1,615.05m respectively, with ATXD-24 paused in early porphyry within the Central Trend and ATXD-22B in potassic altered, mineralized rock milled breccia “RMB” approaching the Central Trend extension.
- Both holes were paused due to earlier-than-expected adverse weather conditions.
- Samples for the partial holes ATXD-24 and ATXD-22B have been sent to the lab with results expected by late June or early July.
“We are incredibly happy and proud of how well our team and partners were able to execute throughout this campaign,” President, and CEO, Raymond Jannas, said.
“The Phase III programme has delivered on, and exceeded, its stated objectives, expanding the mineralized footprint, confirming continuity along the Central High-Grade Trend, and testing new targets. This has led to the discovery of a new high-grade porphyry trend, the Western Trend where ATXD-11B, the highest-grade hole of the Phase III was drilled.
“The overall size of the system has grown to 1,000m long by 1,000m wide with a vertical extent of 1,000m. Within this footprint we have confirmed two high-grade porphyry trends and have demonstrated their continuity with multiple drill intersections in both.
“We are looking forward to completing a full review of these results and integrating them into our plans for Phase IV, where we intend to continue demonstrating the enormous potential of the Valeriano Porphyry system.
“We are also working towards an updated mineral resource estimate incorporating drilling up to and including Phase III. We expect to update investors on this in the coming months.”
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