お知らせ • May 16
ATEX Resources Inc. Discovers New High-Grade Mineralization At Valeriano Intersecting 68 Metres of 2.02% CuEq Within A Broader Intercept of 356 Metres of 0.98% CuEq
ATEX Resources Inc. announced complete assay results for drill holes ATXD26 and ATXD17B, the fifth and sixth holes from its Phase IV drill campaign at the Valeriano Copper-Gold Project (‘Valeriano’ or the ‘Project’) located in Atacama Region, Chile. Highlights include: ATXD26 intersected 68.0 metres of 2.02% CuEq (1.39% Cu, 0.60 g/t Au, 3.81 g/t Ag and 473 g/t Mo) from 1,100 metres downhole, within longer intervals of 356.0 m of 0.98% CuEq (0.7% Cu, 0.29 g/t Au, 1.49 g/t Ag and 180 g/t Mo) and 978.0 metres of 0.75% CuEq (0.54% Cu, 0.21 g/t Au, 1.26 g/t Ag and 145 g/t Mo) from 586.0 meters. A high-grade, copper, gold and silver enriched low sulphidation epithermal system, overprinting existing mineralization has been intersected above the projected porphyry target in ATXD26 from 1,108m to 1,208m downhole. ATXD26 was drilled between the Central and Western Trends, and along the northwest striking high-grade trend from ATXD16A in the southeast to ATXD26 in the northwest and remains open along strike. The overprinting high-grade epithermal mineralization is hosted in silicified breccias made up of clasts composed of wall rock and porphyry fragments including Early Porphyry (‘EP’) fragments. This suggests the presence of mineralized EP below the current hole extents (hole concluded at 1,565.4m) and will be followed up in Phase V. The hole ended in grades of 1.5% CuEq and was terminated 400m above the planned depth. Mineralization intersected in ATXD26 is open at depth and along strike in both directions and is a priority for follow up in Phase V. Additionally, ATXD17B ended at 1,254.0 metres and intersected 504.0m of 0.56% CuEq (0.42% Cu, 0.17 g/t Au, 0.96 g/t Ag and 51 g/t Mo). Sporadic high grades associated with chalcopyrite bearing potassic alteration were intersected in the upper part of the hole from approximately 800m to 1,200m indicates the potential to intersect mineralized EP below and along the southeast continuation of the high-grade mineralization intersected in ATXD16A (594m grading 0.92% CuEq (0.67% Cu, 0.32 g/t Au, 1.13 g/t Ag and 71 g/t Mo) within EP from 1,168m and 112m of 1.42% CuEq (1.01% Cu, 0.57 g/t Au, 2.06 g/t Ag and 46 g/t Mo) from 1,616m). Due to the early onset of seasonal storms in the region, the Phase IV program has been concluded totalling approximately 12,000m of diamond drilling. Through utilizing directional drilling allowing for the completion of daughter holes out of existing parent holes drilled from surface, ATEX has been able to realize an effective total of 20,100m drilled in the event all holes had been drilled from surface. ATEX has announced assay results for six complete holes, ATXD16A, ATXD17A, ATXD12A ATXD25, AXTD17B and ATXD26 totalling approximately 9,400m and has three more partial holes, totalling approximately 2,600m to be announced. Results: Three diamond drill holes were underway when the program was suspended including ATXD25A ((end of hole ‘EOH’) at 1,454.2m), ATXD26A a daughter hole starting at 792m from ATXD26, (EOH 925.5m) and ATXD27 (EOH 944.3m). These holes were testing for continuity of mineralized porphyry between the currently modelled EP trends and extending mineralization further along strike to the northwest. ATXD25A is a daughter hole from ATXD25 and is testing the continuity of mineralization north-west of ATXD23 (964.0m of 0.68% CuEq (0.48% Cu, 0.24 g/t Au, 78 g/t Mo), see Company news dated June 5, 2023 ‘ATEX Intersects 0.70% CuEq over 964 metres in a 200m Step-Out Along the Recently Discovered High-Grade Western Porphyry Trend’). The hole was shut down at 1,454.2m in potassic altered and mineralized wall rock. ATXD26 and ATXD26A are a parent and daughter hole testing the continuity of EP between the northern extents of the Central and Western Trends. ATXD26 intersected mineralized porphyritic units and mineralized hydrothermal breccias from approximately 1,100m downhole confirming the potential for mineralized EP below the current hole bottom and in the gap. A newly discovered zone of overprinting hydrothermal mineralization has been intersected in ATXD26, above the porphyry target. This breccia hosted mineralization includes clasts of EP and is associated with enriched, gold, silver and bismuth grades. This zone remains open in all directions and will be a priority for exploration and definition in Phase V. ATXD26 was abandoned, due to in hole conditions, at a depth of 1,565m. ATXD26A is a daughter hole being drilled out of ATXD26, to the south. Starting at a depth of 792m it is targeting the extension of the high-grade mineralization intersected in ATXD24 (670.0m of 0.84% CuEq (0.60% Cu, 0.24 g/t Au, 101 g/t Mo including 312m of 1.00% CuEq (0.73% Cu, 0.3 g/t Au and 77 g/t Mo)), see Company news dated July 13, 2023 ‘ATEX Intersects 0.84% CuEq over 670 metres Widening the Central High-Grade Trend in the Last Drill Hole of Phase III Program.’). ATXD27 tested the northern extent of mineralization along the Western Trend Porphyry to the north-east of ATXD23. The three uncompleted drill holes (ATXD25A, ATXD26A and ATXD27) will be extended in the next drilling season. Outlook: With the early onset of seasonal storms affecting many operators in the region, ATEX is currently executing a staged shut down of the Phase IV program to safely demobilize personnel and equipment, marking the end of the Phase IV program. The Phase V program, which will follow on from the success of Phase IV, is anticipated to commence in H2 2024. Final drill results from the remaining Phase IV drill holes are expected to be released through June of 2024. These results and the associated geological information will be integrated into planning for Phase V. The success of this drill program has positively impacted the Company's understanding of the Valeriano Porphyry system. Specifically, results from the Phase IV program have led to an increase in the target size for the EP component through demonstrating continuity along a 1.2 km strike length and proving that the three previously modelled trends are likely to be connected. The Phase V program is expected to focus on drilling within the EP trend to confirm continuity of the higher-grade corridor within the larger EP target and on significant step-outs to the northwest and southeast where the EP trend remains open. ATEX believes this program could continue to grow the deposit significantly and provide the foundation for an eventual preliminary economic study.
