ATEX Extends High-Grade Breccia Mineralization by 100 Meters to the North at the B2B Zone
High-Grade Breccia Extensions Offset Leadership Vacuum as Valeriano Scales Toward Development
The February 12, 2026, news release reports significant drilling results from the Phase VI program at the Valeriano Copper-Gold Project in Chile. Key highlights include: - Hole ATXD32: Intersected 592 meters of 1.04% CuEq, including a high-grade sub-interval of 56 meters at 2.36% CuEq. - This result extends the high-grade B2B Zone core by 100 meters to the north. - Hole ATXD26B: Intersected 448 meters of 1.52% CuEq, including 186 meters of 2.15% CuEq. - Program Status: Phase VI is 80% complete, with 19,800 meters of the planned 25,000 meters drilled using six active rigs. - Management Change: This news follows the February 2, 2026, announcement that President and CEO Ben Pullinger resigned for "personal reasons," with board member Chris Beer stepping in as Interim CEO.
The news is Material - Positive for the project's fundamental value but carries moderate corporate risk due to the recent leadership transition. - Resource Expansion: Extending the high-grade B2B breccia 100 meters north is critical. In large-scale porphyry systems, the high-grade core (typically >1% CuEq) dictates the internal rate of return (IRR) and payback period. Extending this zone increases the "starter" tonnage. - Consistency: The grades reported (2.15% and 2.36% CuEq) are exceptionally high for a Chilean porphyry and consistently exceed the 2025 Mineral Resource Estimate (MRE) grades for the B2B Zone (1.36% CuEq Indicated). - De-risking: The use of directional drilling (saving 9,200m in previous phases) and high drill productivity (80% complete) shows technical competence. - Operational Momentum: Despite the CEO's departure, the technical team has maintained the drilling schedule, which is vital for the upcoming H2 2025/early 2026 resource update.
ATEX Resources is a mid-tier explorer-developer focused on the Valeriano Copper-Gold Project in the Atacama Region, Chile. - Flagship Project: Valeriano is located in the "Link Belt" between the El Indio and Maricunga belts. - Scale: 2025 MRE showed 475Mt @ 0.88% CuEq (Indicated) and 1.5Bt @ 0.75% CuEq (Inferred). - Depth: The mineralization is deep, starting typically below 700-800 meters, suggesting an underground block-cave operation.