ATEX Intersects 20 Meters of 4.10% CuEq Within 78 Meters of 3.03% CuEq at the Southern Boundary of the High-Grade B2B Breccia
ATEX infill drilling at the B2B breccia confirms mineralisation continuity without revealing new transformative scale or significant grade enhancements.
ATEX Resources Inc. (ATX) has released complete assay results for drill holes ATXD23C and ATXD31A, along with partial results for ATXD31B, from its Valeriano project in Chile.
Key intercepts from the release include: * ATXD23C: 20 m @ 4.10% CuEq (2.53% Cu, 1.39 g/t Au, 9.3 g/t Ag, 84.0 g/t Mo) from 1,260 m downhole, within 78 m @ 3.03% CuEq and 124 m @ 2.65% CuEq. * ATXD31A: 64 m @ 1.02% CuEq (0.52% Cu, 0.45 g/t Au) from 1,748 m, within 84 m @ 0.96% CuEq. * ATXD31B (partial): 146 m @ 1.14% CuEq (0.70% Cu, 0.42 g/t Au) from 1,606 m, within 408 m @ 0.88% CuEq from 1,438 m; 174 m of assays are pending.
The company stated that the B2B breccia strike length has increased by 50% to approximately 600 m, a figure previously announced in May 2026. Hole ATXD23C demonstrates vertical continuity between the B2B breccia and the underlying porphyry. Phase VI drilling concluded at approximately 28,400 m, exceeding the 25,000 m target, with approximately 65% of assays now released.
ATEX Resources Inc. (ATX) is a junior explorer with a large, defined resource. The recent drill result is not a discovery hole but rather infill and step-out drilling within the known B2B zone, confirming grade continuity at the southern boundary.
The market already reacted to the southern extension five weeks prior. A May 26 release sent the stock from approximately $3.05 to $2.98, followed by a continuing downtrend. While the new high-grade intercept is excellent, it is incremental; it does not double the resource or change the project’s mining method or economics.
The stock price has declined from $4.38 to $2.30 over four months. The news may slow the decline but lacks the transformational impact to reverse it. Given that the company’s market cap is approximately C$862M against an indicated resource of 6.1 billion pounds of copper (plus gold), the deposit is already largely priced in, and the results simply confirm existing expectations.
The presence of 174 meters of pending assays in ATXD31B offers some near-term upside, but the partial intervals released are in line with typical porphyry grades.
ATEX Resources Inc. (ATX) is advancing the Valeriano copper-gold porphyry project, a recent discovery located in Chile’s Atacama Region within the “Link Belt” district. The project hosts a large indicated resource of 475 Mt @ 0.88% CuEq and a massive inferred resource of 1.5 Bt @ 0.75% CuEq, featuring a high-grade B2B breccia core.
The company has secured surface rights over 25,000 ha and holds over C$150 million cash as of Q1 2026. Management is currently in transition with an interim CEO. The project is in the pre-feasibility stage, with metallurgy indicating high recoveries.