Drilling Closes Gaps Between Western And Central Trend At Valeriano Project

Drilling Closes Gaps Between Western And Central Trend At Valeriano Project

TORONTO – ATEX Resources Inc. announced the completion of ATXD25, the fourth hole from its Phase IV drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile. ATXD25 intersected mineralized Early Porphyry (EP) from 1,550 metres downhole and remained in mineralized EP until the hole was terminated at 2,208.2 metres. ATXD25 confirmed the presence of EP 200 metres west of the EP intersected in ATXD11B (1,342.5m of 0.73% Copper Equivalent “CuEq” (0.46% Cu, 0.31 g/t Au, 43 g/t Mo, and confirmed continuity of mineralized EP in the gap between the Western and Central Trend.

Additionally, ATXD17B was completed early at a depth of 1,671 metres after deviating further south than anticipated and intersecting bad ground. This resulted in the hole exiting the target corridor.

ATEX currently has three rigs actively drilling on the project with holes ATXD25A, ATXD26 and ATXD27 currently underway with the aim of testing for continuity of mineralized porphyry between the currently modelled EP trends and extending mineralization further along strike to the north. Results for ATXD25 are expected next month.

“Hole ATXD25 is an incredibly exciting hole for us,” said Raymond Jannas, President and CEO. “It achieved three notable objectives: firstly confirming the continuity of mineralized EP to the west of existing drilling, secondly, closing in the gap between the Western and Central trend porphyry units, and thirdly, delivering 660 metres of continuous mineralized EP. We are excited to continue to expand on what we have learned from ATXD25 in ATXD25A and seek to expand this trend even further north and west in upcoming drilling.”