ATEX Significantly Expands B2B Mineralized Footprint by 135 Meters to the East; Mineralization Remains Open
ATEX expands high-grade B2B footprint as warrant windfall fortifies $140M treasury for Chilean porphyry push
The most recent news (March 16, 2026) reports that ATEX has significantly expanded the mineralized footprint of the B2B Zone at its Valeriano project by 135 meters to the east. Key drill results include hole ATXD34, which intersected 172 meters of 0.80% CuEq within a massive 834-meter interval of 0.66% CuEq. The Phase VI drill program is tracking ahead of schedule, with the company now expecting to exceed 30,000 meters of drilling (up from the original 25,000m). This follows a major financial update on February 20, 2026, where the company received $52.5 million from warrant exercises, bringing its cash balance to approximately $140 million CAD.
- Exploration Success: The expansion of the B2B Zone to the east and the confirmation that mineralization remains open in multiple directions (north, south, and east) suggests the 2025 Mineral Resource Estimate (MRE) is already conservative. The high-grade nature of the B2B Zone (often exceeding 1.0% CuEq) is a primary driver for project economics.
- Financial De-risking: The receipt of $52.5M from warrants is a major positive. With $140M in the treasury, ATEX is fully funded for the remainder of Phase VI and likely the entirety of a Phase VII program without needing to return to the equity markets in a position of weakness.
- Operational Efficiency: Completing 24,000 meters ahead of schedule and expanding the program to 30,000 meters demonstrates strong local management and technical execution.
- Leadership Transition: While the departure of CEO Ben Pullinger in February 2026 was a potential risk, the interim appointment of Chris Beer and the subsequent positive drill results suggest operational continuity has been maintained.
ATEX is focused on the Valeriano Copper-Gold Project in the Atacama Region of Chile. The project is a large-scale copper-gold porphyry system with an overlying high-grade breccia system (B2B Zone). - Current Resource (Sept 2025): 475 Mt @ 0.88% CuEq (Indicated) and 1.5 Bt @ 0.75% CuEq (Inferred). - Flagship Status: Valeriano is considered one of the largest and highest-grade undeveloped copper-gold deposits discovered in the last decade.