ATEX Reports Updated Mineral Resource Estimate of 475 Million Tonnes of 0.88% CuEq Indicated and 1.5 Billion Tonnes of 0.75% CuEq Inferred
Executive Summary
- ATEX Resources announced an updated NI 43‑101 compliant Mineral Resource Estimate for the Valeriano Project, increasing indicated copper resources to 6.1 billion lbs Cu and adding significant gold, silver and molybdenum grades.
- The update includes a high‑grade “B2B Zone” (28.4 Mt @ 1.36 % CuEq) and a large porphyry core, both open for further expansion in upcoming Phase VI drilling.
- A webcast to discuss the results will be held on September 24 2025; the full technical report will be filed within 45 days of this release.
Key Details
- Overall Resources (effective 1 Sept 2025):
- Copper: 6.1 billion lbs Indicated, 16.7 billion lbs Inferred (475 Mt @ 0.58 % Cu Indicated; 1.5 Bt @ 0.50 % Cu Inferred).
- Gold: 3.8 Moz Indicated, 9.9 Moz Inferred (475 Mt @ 0.25 g/t Au Indicated; 1.5 Bt @ 0.20 g/t Au Inferred).
- Silver: 21.2 Moz Indicated, 56.1 Moz Inferred (475 Mt @ 1.39 g/t Ag Indicated; 1.5 Bt @ 1.16 g/t Ag Inferred).
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Molybdenum: 33 kt Indicated, 107 kt Inferred (475 Mt @ 70.4 g/t Mo Indicated; 1.5 Bt @ 70.6 g/t Mo Inferred).
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High‑Grade B2B Zone:
- 28.4 Mt Indicated @ 1.36 % CuEq (0.95 % Cu, 0.33 g/t Au, 1.98 g/t Ag, 134 g/t Mo).
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2.6 Mt Inferred @ 1.05 % CuEq (0.74 % Cu, 0.28 g/t Au, 1.74 g/t Ag, 22 g/t Mo).
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Porphyry Core:
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118 Mt Indicated @ 1.07 % CuEq; 161 Mt Inferred @ 1.01 % CuEq.
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Resource Growth vs. 2023 MRE:
- Indicated copper resource increased from 0.40 % Cu (inferred) to 0.35 % Cu (indicated), adding ~9.2 Blbs CuEq.
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Inferred copper resource grew modestly; overall CuEq rose from 20.7 Mt (2023) to 25.0 Mt (2025).
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Drilling Summary: ~51,000 m drilled to end of Phase V, generating 15.5 Mt CuEq (~303 t per m); discovery cost $0.0049/lb Cu.
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Phase VI Program:
- Commencing September 2025 with six rigs (three on‑site, three arriving).
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Objectives: expand B2B Zone, test additional B2B‑style targets, extend porphyry system drilling.
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Technical Review: Qualified Person – Dr. David F. Machuca‑Mory, SRK Consulting; President/CEO Ben Pullinger also reviewed (non‑independent).
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Webcast / Conference Call: September 24 2025, 8:00 am EST (link and dial‑in numbers provided).
Notable Quotes
“We are delighted to confirm that Valeriano ranks amongst the most significant copper discoveries… with copper equivalent metal of over 9 billion pounds classified as Indicated…” – Ben Pullinger, President & CEO.
All forward‑looking statements are subject to risks and uncertainties detailed in the release.