Atex Resources drills 0.73% CuEq over 1,342.5 metres at Valeriano, Chile
Atex Resources Inc. [ATX-TSXV] reported results for diamond drill holes ATXD-11B and ATXD-22. These are the third and fourth holes completed in its Phase III drill campaign at the 100%-optioned Valeriano Copper-Gold Project located in Atacama Region, Chile.
Highlights include drill hole ATXD-11B that intersected higher grade intervals of 0.80% Copper Equivalent (CuEq) (0.50% Cu, 0.35 g/t Au, 29 ppm Mo) over 1,010 metres; and 0.94% CuEq (0.46% Cu, 0.58 g/t Au, 13 ppm Mo) over 222 metres, within the wider interval of 0.73% CuEq (0.46% Cu 0.31 g/t Au, 43 ppm Mo) over 1,342.5 metres.
Results from ATXD-11B confirm a new high-grade porphyry trend, the Western Trend, on the Valeriano Project. The discovery of the Western Trend expands the mineralized corridor over 300 metres to the west of the Central High-Grade Trend and is open along strike for extension.
ATXD-22 intersected 970 metres of 0.51% CuEq (0.38% Cu, 0.10 g/t Au and 99 ppm Mo).
Drill holes ATXD-23 and ATXD-24 are currently being drilled to the north and south of ATXD-11B to define and extend high-grade mineralization along the Western High-Grade Trend.
“Today’s results from ATXD-11B are a step change in demonstrating the growing scale potential at Valeriano,” stated Raymond Jannas, President, and CEO. “In a very short amount of time, we have moved from proof of concept, testing the Central High-Grade Trend with hole ATXD-17, to discovering a similar trend with hole ATXD-11B. We are excited to explore the potential size of the Western High-Grade Trend in holes ATXD-23 and 24 as part of a transformative Phase III drill program.”
The Phase III campaign continues to focus on its stated objectives of expanding the mineralized corridor through step out drilling along strike, primarily to the northeast, testing new targets along this corridor and seeking to define the continuity and geometry of the porphyry trends.
ATXD-22A, (daughter hole from ATXD-22) commenced at a depth of 921 metres. This hole is being drilled at an azimuth of 130 degrees to the Southeast and a dip of 65 degrees. This hole is designed to test the Eastern Trend for the presence of early porphyry approximately 250 metres to the north of the mineralized porphyry intersected in VAL-16.
ATXD-23 and ATXD-24 are also underway and are collared 260 metres to the north and 160 metres to the south, respectively, of ATXD-11B. These holes are expected to be completed in May.
ATEX is exploring the Valeriano Copper Gold Project which is located within the emerging copper gold porphyry mineral belt linking the prolific El Indio High-Sulphidation Belt to the south with the Maricunga Gold Porphyry Belt to the north.