ATEX Resources (TSXV: ATX) is reporting this morning that it has intersected a record intercept at its Valeriano copper-gold project in Chile. In intercept comes from partial assay results that were released this morning.
Highlights from the results include:
- ATXD23A: 342.0 metres of 1.48% copper equivalent (1.05% copper, 0.47 g/t gold, 1.17 g/t silver, 272.38 g/t molybdenum) from a depth of 1,036 metres
- Including 152.0 metres of 2.03% copper equivalent (1.52% copper, 0.75 g/t gold, 0.83 g/t silver, 40.93 g/t molybdenum) from a depth of 1,226 metres
Hole ATXD23A was completed to a depth of 2,042 metres, ending in early porphyry mineralization. Assays remain outstanding for multiple sections of core.
The assays are said to have intercepted a 130-metre extension to high grade breccia mineralization previously hit under a phase four drill program. The breccia zone has the highest-grade mineralization discovered at Valeriano to date, and currently has an estimated strike length of 400 metres while remaining open in all directions.
“ATXD23A exceeded our expectations and is the best hole drilled on the Project to date even without the pending assays for the lower 664 metres. Furthermore, we believe it ranks among the best holes drilled worldwide so far this year,” commented Ben Pullinger, CEO of ATEX.
Follow-up drilling is said to currently be testing extensions to the breccia 140 metres along strike to the northwest, and 100 metres up-dip. Five drill rigs are currently in operation at Valeriano, with 3,944 metres of drilling completed to date under the phase five program.
ATEX Resources last traded at $1.65 on the TSX Venture.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
