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CORRECTION FROM SOURCE: ATEX Announces Significant Inferred Resource of 1.41 Billion Tonnes Grading 0.67% CuEq (0.50 % Cu, 0.20 g/t Au 0.91 g/t Ag and 64 g/t Mo) At Valeriano
Phase IV Drill Program to Commence in Early Q4 2023 This release is being reissued to correct t...
About this update from Atex Resources Inc.
[{"type":"text","content":"CORRECTION FROM SOURCE: ATEX Announces Significant Inferred Resource of 1.41 Billion Tonnes Grading 0.67% CuEq (0.50 % Cu, 0.20 g/t Au 0.91 g/t Ag and 64 g/t Mo) At ValerianoPhase IV Drill Program to Commence in Early Q4 2023This release is being reissued to correct the headline where it should have read, \"1.41 Billion\" instead of \"1.41g/t Billion\". No other changes were required in the body of the release.Toronto, Ontario--(Newsfile Corp. - September 12, 2023) - ATEX Resources Inc. (TSXV: ATX) (\"ATEX\" or the \"Company\") is pleased to announce the results of an updated independent Mineral Resource estimate for the Valeriano Project (\"Valeriano\" or the \"Valeriano Project\") located in Atacama Region, Chile. The updated Mineral Resource estimate was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") guidelines and National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\"). HIGHLIGHTS:NEW ROBUST RESOURCE – ATEX is excited to report a substantial increase in the Mineral Resource estimate for the Cu-Au Porphyry mineralization at Valeriano. The deposit now contains an Inferred Mineral Resource of 1.4 billion tonnes at a grade of 0.67% CuEq* (0.50 % copper (\"Cu\"), 0.20 g/t gold (\"Au\"), 0.96 g/t silver (\"Ag\") and 63.8 g/t Molybdenum (\"Mo\")) reported at a cut-off grade above 0.4% Cu.HIGH-GRADE CORE – The resource includes a higher-grade core within Early Porphyry (\"EP\") 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 at a 0.50% Cu cut-off), further emphasizing the potential viability of the Valeriano deposit. High-grade core remains open in multiple directions.A GROWING DISCOVERY – A significant milestone for the Company achieved by the ATEX team through diligent and systematic exploration resulting in the successful execution of the Phase II and Phase III drill programs with all holes intersecting significant new Cu-Au mineralization. These results greatly expanded the dimensions of known mineralization while also extending known high-grade porphyry mineralization in the Central Trend and discovering new high-grade porphyry mineralization within the Western Trend. STRATEGIC VALUE – The increased size of the Valeriano Project's Mineral Resource estimate represents a...