Atex Resources Inc. Reports Strong Drilling Results at Valeriano Copper-Gold Project in Chile
- Atex Resources Inc. reports significant Phase V drilling results at the Valeriano Copper-Gold Project, highlighting high-grade mineralization.
- The company plans further exploration to define the high-grade "B2B Zone" and expand mineralization, with more assay results pending.
- Atex's strategic location and partnership with Agnico Eagle Mines enhance project viability and financial backing for future exploration.
Atex Resources Inc. Reports Promising Drilling Results at Valeriano Project
Atex Resources Inc. (TSXV: ATX) announces significant advancements from its Phase V drilling campaign at the Valeriano Copper-Gold Project in Chile. Recently, the company reveals that drill hole ATXD29A has intersected 104 meters of 1.06% copper equivalent (CuEq) within a broader interval of 568 meters averaging 0.86% CuEq. This outcome underscores the project's high-grade mineralization potential, a sentiment echoed by President and CEO Ben Pullinger. He highlights the success of this campaign, emphasizing its importance for positioning Valeriano as a key player in the Americas' mining landscape.
The Phase V drilling program encompasses approximately 16,600 meters of directional diamond drilling, with nine holes completed so far. The company plans to finish several partial holes in Phase VI, which is scheduled to begin in September 2025. Atex aims to further define the high-grade "B2B Zone" while simultaneously expanding the overall mineralization footprint. The anticipation grows as the company prepares to release assay results for three additional drill holes (ATXD25C, ATXD27B, and ATXD28A) in the coming weeks, which may further bolster the project's promising outlook.
Innovative drilling techniques utilized during this phase have resulted in significant efficiencies, saving around 9,200 meters compared to conventional methods. This advancement not only enhances the operational efficiency but also contributes to a more focused exploration strategy. Atex plans to release an updated Mineral Resource announcement later this year, reflecting on the ongoing developments and the strong support from shareholders through warrant exercises. The company’s commitment to exploring the Valeriano project continues to align with its strategic goals of establishing a high-grade underground starter mine, contributing to the growing significance of copper and gold resources in the global market.
Strategic Location and Financial Backing Enhance Project Viability
The Valeriano Project is strategically located along the Porphyry Superhighway in Chile's Huasco Province, providing robust logistical advantages, including proximity to the Port of Huasco, just 201 kilometers away. This strategic positioning facilitates easier transportation of resources, enhancing project viability.
Moreover, Atex's partnership with Agnico Eagle Mines, which has committed C$55 million, reinforces the project's financial backing and underscores its potential in the competitive mining sector. As exploration continues, the large-scale mineral resource, which includes an inferred resource of 1.41 billion tonnes grading 0.67% CuEq, indicates strong future prospects for Atex Resources Inc. and the Valeriano project as it moves forward.