Announcement • Jul 11
ATEX Resources Reports Additional Drill Results from Valeriano Copper-Gold Project in Atacama Region of Chile
ATEX Resources Inc. announced additional drill results from the Valeriano Copper-Gold Project ("Valeriano" or the "Project") in the Atacama region of Chile, including complete results from holes ATXD23C, ATXD31A, and partial results from hole ATXD31B. Phase VI drilling totaled a record of approximately 28,400 meters ("m"), exceeding the initial 25,000m program target. Approximately 65% of assays have now been released for the Phase VI drill program with remaining results expected through July. Phase VI Drill Program Update: Phase VI drilling has been successfully completed, exceeding the original 25,000m target with a record 28,400m drilled. The program included approximately 15,500m in the high-grade B2B Zone, 11,750m testing nearby high-grade breccia targets, and 1,025m on porphyry extensions. While drilling for the season is complete, 35% of assay results remain outstanding and will continue to be released as they are received and finalized from the laboratory through July. Details of drill holes completed this season, including holes paused for follow-up drilling during the next season, are provided below. Quality Control & Quality Assurance: Drill holes are collared with a PQ drill bit, reduced to HQ and, sequentially, to NQ as the drill holes progressed deeper. Drill core produced by the drill rigs was extracted from the core tubes by the drill contractor under the supervision of ATEX employees, marked for consistent orientation and placed in core boxes with appropriate depth markers added. Full core boxes were then sealed before being transported by ATEX personnel to the Valeriano field camp. Core at the field camp is processed, quick logged, checked for recovery, photographed, and marked for specific gravity, geotechnical studies and for assays. From camp, the core is transferred to a secure core-cutting facility in Vallenar, operated by IMG, a third-party consultant. Here, the core trays are weighed before being cut using a diamond saw under ATEX personnel oversight. ATEX geologists working at this facility double-check the selected two-metre sample intervals, placing the samples in seal bags and ensuring that the same side of the core is consistently sampled. Reference numbers are assigned to each sample and each sample is weighed. The core trays with the remaining half-core are weighed and photographed. Additionally, core logs are updated, and specific gravity and geotechnical samples are collected. The remaining core is stored in racks at the Company's secure facility in Vallenar. From Vallenar samples are sent to an ALS preparation facility in Copiapó. ALS is an accredited laboratory which is independent of the Company. The prepared samples were sent to the ALS assay laboratories in either Santiago, Chile or Lima, Peru for gold (Au-AA24), copper (Cu-AA62), molybdenum (Mo-AA62) and silver (Ag-AA62) assays as well as and multi-element ICP (ME-MS61) analysis. The QA/QC program consists of insertion rates of 6% for Certified Reference Material, 2% for certified 'blank' material and 2% duplication of pulp and coarse reject material. No data quality problems were indicated by the QA/QC program.
