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ATEX Resources Inc. (OTC: ECRTF) is a dynamic mineral exploration company dedicated to uncovering and developing world-class copper and gold deposits in Chile, a globally renowned mining jurisdiction. The company’s flagship asset, the Valeriano Copper-Gold Project, is strategically located within the emerging copper-gold porphyry belt known as the 'Link Belt,' which connects the prolific El Indio High-Sulphidation Belt to the Maricunga Gold Porphyry Belt. This region hosts several high-profile deposits, including Filo del Sol, Josemaria, and Los Helados, positioning Valeriano among a cluster of globally significant projects.
Core Business and Exploration Focus
ATEX Resources specializes in advanced-stage exploration, leveraging cutting-edge geological techniques and strategic partnerships to define high-value mineral resources. The company’s primary focus is the Valeriano Project, which hosts a substantial copper-gold porphyry resource of 1.41 billion tonnes at 0.67% CuEq, including a higher-grade core of 200 million tonnes at 0.84% CuEq. This positions Valeriano as a potentially transformative asset in the global copper and gold markets.
Strategic Location and Geological Potential
The Valeriano Project is situated in the Atacama Region of Chile, a mining-friendly jurisdiction with established infrastructure and regulatory frameworks. The project’s geology is characterized by a large, multiphase intrusive system with significant vertical and horizontal continuity. Recent exploration campaigns have identified high-grade breccia systems and porphyry-hosted mineralization, including record-breaking intercepts such as 152 meters of 2.03% CuEq within 342 meters of 1.48% CuEq.
Operational Excellence and Technical Achievements
ATEX has demonstrated exceptional technical expertise through its phased exploration programs, which have consistently expanded the known mineralized footprint at Valeriano. The company employs advanced directional drilling techniques to maximize efficiency and minimize costs, achieving significant step-outs and resource upgrades. Metallurgical test work has confirmed robust recovery rates for copper (up to 95%) and gold (up to 97%) using conventional processing methods, underscoring the project’s economic potential.
Strategic Partnerships and Financial Strength
ATEX has attracted strategic investment from industry leaders such as Agnico Eagle Mines, highlighting the project’s credibility and potential. This partnership provides financial stability and access to technical expertise, enabling ATEX to accelerate its exploration and development activities. The company recently achieved 100% ownership of the Valeriano Project, further solidifying its position as a key player in the region.
Market Significance and Growth Potential
As global demand for copper and gold continues to rise, driven by infrastructure development, renewable energy initiatives, and investment needs, ATEX is well-positioned to capitalize on these trends. The Valeriano Project’s scale, high-grade zones, and favorable metallurgy make it a compelling investment opportunity within the mining sector.
Challenges and Mitigation
While ATEX operates in a high-risk, high-reward environment typical of mineral exploration, its strategic location, technical expertise, and strong financial backing mitigate many of these risks. The company’s commitment to rigorous geological analysis and stakeholder engagement further enhances its ability to navigate regulatory and operational challenges.
In summary, ATEX Resources Inc. represents a unique opportunity in the mining sector, combining geological potential, operational excellence, and strategic partnerships to advance one of the most promising copper-gold projects in South America.
ATEX Resources Inc. (TSXV: ATX) has announced its Phase V exploration plans for the Valeriano Copper-Gold Project in Chile, set to commence in October 2024. The program targets 20,000 meters of directional diamond drilling, focusing on:
1. Expanding the high-grade epithermal system above the porphyry horizon.
2. Defining and extending the high-grade trend within the porphyry body.
3. Large step-out drilling to expand the mineralized footprint.
The company aims to deliver an updated Mineral Resource Estimate in H2 2025, incorporating results from Phase IV and V drilling, improved metallurgical recoveries, and ongoing engineering studies. The program builds on the success of Phase IV, which yielded the highest grades at Valeriano to date, including 68.0 meters of 2.02% CuEq.
ATEX Resources announces assay results for partial drill holes ATXD25A and ATXD26A from its Phase IV drill campaign at the Valeriano Copper-Gold Project in Chile.
Highlights include: Confirmation of a new geological model, expanding the strike length of Early Porphyry units to 1.2km and width to 0.5km; a high-grade overprint event with ATXD26 intersecting 122.0m at 1.60% CuEq.
ATXD25A intersected 224.2m at 0.47% CuEq, paused due to early storms, to be continued in Phase V.
ATXD26A intersected 31.45m at 0.62% CuEq, also paused, to be continued in Phase V.
Phase IV concluded with promising results, setting a strong foundation for Phase V starting in H2 2024.
ATEX Resources announced the closing of a private placement where 337,837 common shares were issued at $1.48 each to newly appointed board member Chris Beer. The placement raised approximately C$500,000, aimed at funding the Valeriano Copper Gold Project and general working capital. This transaction is considered a related party deal under MI 61-101 but is exempt from formal valuation and minority approval requirements. The issued shares are subject to a statutory hold period of four months and one day.
CEO Ben Pullinger expressed confidence in the placement, highlighting the importance of Mr. Beer's alignment with existing shareholders and the positive impact on the Valeriano Project.
ATEX Resources announced the appointment of Chris Beer to its Board of Directors effective immediately. Beer, who will also serve as Chair of the Audit Committee, brings over 24 years of experience from RBC Global Asset Management.
Concurrently, Rob Suttie is retiring from the Board after serving since December 2018. Beer’s appointment includes the granting of 92,142 restricted share units, which will vest upon his continuous board membership over two years.
The company also announced a $500,000 private placement with Beer, involving the purchase of 337,837 common shares at $1.48 per share, pending approval.
On May 27, 2024, ATEX Resources announced the allocation of 498,487 restricted share units (RSUs) and 430,000 stock options to its officers, directors, and employees. Each stock option allows the holder to purchase one ATEX common share at $1.43 within five years, under the company's Stock Option Plan. Of the RSUs granted, 244,755 will vest over two years, and 253,732 will vest over three years under the company's Restricted Share Unit Plan. Additionally, ATEX received CAD$748,200 from the exercise of 2,121,000 common share purchase warrants between May 15 and May 24, 2024.
ATEX Resources has announced significant assay results from its Phase IV drilling at the Valeriano Copper-Gold Project in Chile. Drill hole ATXD26 intersected 68 meters of 2.02% copper equivalent (CuEq) within a broader 356-meter interval of 0.98% CuEq, and 978 meters at 0.75% CuEq. This marks the discovery of a new, high-grade, hydrothermal system above the projected porphyry target.
ATXD17B also showed promising results, intersecting 504 meters of 0.56% CuEq. The mineralization remains open in all directions, indicating significant potential for further resource expansion. The company received CAD$2.17 million from the exercise of warrants during this period.
The Phase IV program, totaling around 12,000 meters of drilling, has concluded early due to seasonal storms but showed substantial mineralized intervals. Phase V will commence in H2 2024, focusing on extending the high-grade trends identified.
ATEX Resources Inc. announced the positive results of its Annual General and Special Meeting, with all motions approved by shareholders. The new CEO, Ben Pullinger, was appointed to the board of directors. The detailed voting results showed overwhelming support for various resolutions, including setting the number of directors at five and approving the appointment of the Company's auditor and amended stock option and restricted share unit plans.
ATEX Resources Inc. announces the completion of the Phase IV drill campaign at the Valeriano Copper-Gold Project in Chile. Drill hole ATXD25 intersected 862.2 meters of 0.62% CuEq, demonstrating the growth potential at Valeriano. The Valeriano Porphyry system remains open in all directions, with a strike length of approximately 1.2 kilometers. Results suggest the three previously modeled trends of EP are now connected. Raymond Jannas, President and CEO of ATEX, highlights the increased success rate through Phase IV and the potential for a larger EP center trending NW.
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