ATEX Resources Inc. announced partial assay results for drill holes ATXD-24 and ATXD-22B, the last two holes, from its Phase III drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile. ATXD-24 was drilled to the southeast across the eastern contact of the Western trend and towards the Central Trend. The dip of the hole was flattened using directional drilling tools to intersect the Central Trend at a better angle.

Three runs with the directional tool were completed between a depth of 1,050 and 1,173 metres with partial core recovery within this interval. Mineralization grading over 0.40% CuEq commenced above this interval in mineralized RMB from 964 metres to the top of the directional cut at 1,050 metres. This interval returned 86.0 metres of 0.45% CuEq (0.34% Cu, 0.1 g/t Au and 70 ppm Mo).

ATXD-22B was paused, at the end of the program, in potassic altered, chalcopyrite bearing RMB which included zones of veining with visible chalcopyrite and bornite mineralization and will be continued in Phase IV. These results represent the last drill holes from the Phase III campaign which commenced in October 2022 and was completed in late May 2023. In total 12,513 metres of drilling were completed in eight drill holes including four holes from surface, and four daughter holes drilled from existing holes.

A summary of results for the Phase III Program are presented in Table 2. Phase III achieved a series of execution records for the project including completing the deepest hole to date at a depth of 2,190.5 metres (ATXD-11B) as well as achieving a 100% completion rate on drill holes. Additionally, the utilization of directional drilling in Phase III resulted in a saving of 3,000 metres of drilling from surface. Phase IV, which will follow up on the success achieved in Phase III, is expected to commence in October 2023.

The Company intends to use these the Phase III results and data to update the copper-gold mineral resource statement for the Valeriano Project and file an updated NI-43 101 compliant technical report. Additionally, metallurgical test work using core from the Phase III program is being undertaken by ATEX in conjunction with Libertas Metallurgy and Base Met Labs of Kamloops BC. This work is expected to be completed in Q3.