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ATEX Resources Announces Completion of Third Hole in Phase III Drill Program and Mobilizes Third Drill Rig
Toronto, Ontario--(Newsfile Corp. - February 27, 2023) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce that is has completed
About this update from Atex Resources Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - February 27, 2023) - ATEX Resources Inc. (TSXV: ATX) (\"ATEX\" or the \"Company\") is pleased to announce that is has completed drill hole ATXD-11B, the third drill hole in its Phase III drill campaign and has received assay results from hole ATXD-21 at the Valeriano Copper-Gold Project (\"Valeriano\" or the \"Project\") located in Atacama Region, Chile. Highlights include: ATXD-11B intersected 765 metres of early porphyry, between 1,425 and 2,190 metres, along a new trend within the mineralized corridor, approximately 300 metres to the west of the Central High-Grade Trend. This new porphyry is similar in appearance to the early porphyry in the Central High-Grade Trend with significant chalcopyrite and lesser bornite mineralization observed. Assays for ATXD-11B are anticipated late-March. Additionally, ATXD-11B intersected chalcopyrite-bearing Rock Milled Breccia (\"RMB\") with intermineral cross cutting porphyry units from a depth of 1,056 metres downhole to 1,425 metres. A third diamond drill rig has been mobilized to the Project and is expected to commence operating in early March, following up on the new porphyry trend intersected in ATXD-11B. ATXD-21 intersected multiple mineralized intervals including 428 metres of 0.48% Copper Equivalent \"CuEq\" (0.31% Cu, 0.2 g/t Au and 56 ppm Mo) and 168 metres of 0.59% CuEq (0.41% Cu, 0.2 g/t Au and 60 ppm Mo). Mineralization in the upper part of ATXD-21 could be indicative of deeper porphyry presence related to the Eastern Trend. Continuity or displacement of the Central Trend will be evaluated in future drilling. \"We are extremely excited about the emergence of a second porphyry trend to the west of the Central High-Grade Trend and what this means for the Project,\" stated Raymond Jannas, President and CEO of ATEX. \"ATXD-11B intersected, 765 metres of early porphyry in the Western Trend, that now extends the mineralization for approximately 500 metres between drill holes VAL-09 and ATXD-11B and is open along strike to the northeast and southwest for immediate follow up. Adding a third rig allows us to run with two rigs on this trend for the rest of the program.\" Hole ID From To Interval (2) (3) Cu Au Mo CuEq(1) (metres) (metres) (metres) % g/t ppm % ATXD-21 846 1,274 428 0.31 0.2 56 0.48 incl. 850 902 52 0.34 0.2 73 0.53 incl. 1,020 1,044 24 0...