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ATEX is exploring the 100% owned Valeriano copper gold project located 125km east of Vallenar city, within the Link Belt, in north-central Chile. The Company is focused on definition and extension of the copper-gold porphyry resource, expansion of the high-grade breccia B2B zone above the porphyry horizon and step out drilling to expand the known mineralized footprint. An updated resource estimate is targeted for H2 20251.
Valeriano is adjacent to the El Encierro deposit, a joint venture between Antofagasta (51%) and Barrick Gold (49%). The project is within a 120-km long zone – internally referred as the Link Belt – connecting the Maricunga gold porphyry belt to the El Indio high-sulphidation gold-epithermal belt that hosts significant copper-gold deposits. Other companies active in this area include BHP, Agnico Eagle, Teck Resources, Newmont Mining and Lundin Mining.
Valeriano hosts a large copper gold porphyry resource: 1.41 billion tonnes at 0.67% CuEq (0.50% Cu, 0.20 g/t Au, 0.96 g/t Ag and 63.80 g/t Mo), which includes a higher-grade core totaling 200 million tonnes at 0.84% CuEq (0.62% Cu, 0.29 g/t Au 1.25 g/t Ag and 55.7 g/t Mo), reported in September 20232.
Agnico Eagle Mines is the largest cornerstone investor investing C$55 million in 2024, followed by Pierre Lassonde as the second-largest shareholder.
1 Please see January 8, 2025 press release titled "ATEX Reflects on a Transformative Year and Provides 2025 Outlook with Fifth Diamond Drill Rig Mobilized to Valeriano Project"
2 Please see NI 43-101 technical report titled “Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile” with an effective date of September 1, 2023, available at www.sedarplus.com and www.atexresources.com for additional details on the 2023 Mineral Resource Estimate for the Valeriano project.