Atex Resources Inc. · TSX:ATX
Atex Resources — Investor Presentation (November 2023)
29 slides from Atex Resources's investor presentation, November 2023
Slide 1: Valeriano: Defining a Copper Gold Giant in Chile
VALERIANO Defining a Copper Gold Giant in Chile Nov 2023 TSXV: ATX 1
Slide 2: Cautionary Statements
Cautionary Statements FORWARD LOOKING STATEMENTS QUALIFIED PERSONS This presentation contains forward-looking statements, including predictions, projections, and forecasts. Often, but not always, forward-looking Mr. Ben Pullinger, P.Geo. registered with the Professional Geoscientists Ontario, is the
Slide 3: ATEX Overview
ATEX Overview A Chilean focused exploration company • Significant Inferred Cu-Au Porphyry Resource of 1.4 Bt @ 0.67% CuEq* (0.5% Cu, 0.20 g/t Au, 0.96 g/t Ag and 64 g/t Mo announced Sept 2023 • Commencing Phase IV program targeting >20,000m • Operated by a team with a record of significant South Ame
Slide 4: Investment Opportunity
Investment Opportunity Significant Inferred Resource containing 1.41 billion tonnes of Cu-Au Porphyry mineralization with a grade of 0.67% CuEq* (0.5% Cu, 0.20 g/t Au, 0.96 g/t Ag and 64 g/t Mo) Central High-grade Porphyry Trend emerging, currently containing ~200 Mt at 0.84% CuEq* (0.5% Cu cut-off)
Slide 5: Valeriano – On the Porphyry Super Highway
Valeriano – On the Porphyry Super Highway VALERIANO: Defining a Copper Gold Giant in Chile TSXV: ATX 5
Slide 6: Valeriano/El Encierro Trend-Emerging World Class District
Valeriano/El Encierro Trend-Emerging World Class District Valeriano Mineralized Corridor – 1,000m X 1,000m Valeriano Cu-Au Porphyry Resource • ~22,000 metres of drilling in 9 holes by ATEX (Phase II and Phase III) and 5 historical holes included in Resource • 1,41 Bt @ 0.67% CuEq* Inferred Resource
Slide 7: Geographical Advantage for Underground Access
Geographical Advantage for Underground Access Valeriano Cu-Au Porphyry Resource • Topography favorable for establishing underground access for a potential mining operation from valleys either to the east or west of the project. • Mineralization starts approximately 200m below valley floor and is ope
Slide 8: Phase III Recap – High-Grade and Significant Growth
Phase III Recap – High-Grade and Significant Growth ATXD23 CuEq Grade 964m @ 0.68% CuEq Phase III Objectives Incl. 602m @ 0.76% CuEq >0.3% >0.4% >0.8% • A second high grade porphyry ATXD11B trend, “The Western Trend” was 1,342.5m @ 0.70% CuEq Mineralized trends Incl. 1,010m @ 0.76% CuEq discovered i
Slide 9: Valeriano – 2023 Cu-Au Porphyry Resource Exceeds Market Expectations
Valeriano – 2023 Cu-Au Porphyry Resource Exceeds Market Expectations Valeriano Cu-Au Porphyry Resource 4,600 m Resource take aways: 1 4,000 m • ATEX’s objectives at Valeriano are to: 1. Demonstrate significant size potential for the Cu-Au Porphyry and RHYO 2. Establish a high-grade core of sufficien
Slide 10: MRE Cu-Au Porphyry Resource Summary
MRE Cu-Au Porphyry Resource Summary Cu Cu Inferred Metal Contribution by $ Within Copper 15.5 Billion lbs Resource Au Au Inferred 23% Gold 9.01 Million Ounces 70% Ag 6% Ag Inferred 1% Silver 43.6 Million Ounces Mo Mo Inferred Molybdenum 90.1 Thousand tonnes VALERIANO: Defining a Copper Gold Giant in
Slide 11: Valeriano – 2023 Cu-Au Porphyry Resource Sensitivity
Valeriano – 2023 Cu-Au Porphyry Resource Sensitivity Grades Contained Metal Cut-off Contained Cu Au CuEq* Cu Au CuEq CuEq Grade (%Cu) tonnes Ounces tonnes lbs (Mt) (%) (g/t) (%) (millions) (000s) (millions) (billion) 0.20 2,570 0.43 0.18 0.58 11.0 14,503 15.0 33.0 0.25 2,524 0.43 0.17 0.58 10.9 14,1
Slide 12: Valeriano – Metallurgical Program Results
Valeriano – Metallurgical Program Results • ROBUST COPPER AND GOLD RECOVERIES – Copper recoveries ranging from 91% to 95% and total gold recovery ranging from 83% to 94%, using a combination of flotation (Cu, Au) and cyanidation of cleaner tails (Au). • ATTRACTIVE CONCENTRATE GRADES – Desirable conc
Slide 13: Updated Valeriano Geology Model
Updated Valeriano Geology Model Multi-phase granodioritic porphyry system intruded into and altered a sequence of rhyolitic tuffs, flows and breccias. Cu-Au porphyry mineralization strengthens to depth with increasing potassic alteration. Copper mineralization is dominated by chalcopyrite and to a l
Slide 14: Phase IV – Underway
Phase IV – Underway Building off Solid Foundation • TARGETING RECORD METERAGE SEASON AT VALERIANO – Full program considers 15,000 to 20,000 metres (Phase III - 12,513 metres) with ability to expand the program subject to results. • TWO RIGS CURRENTLY OPERATING 1. CENTRAL TREND – Completing ATXD-24 (
Slide 15: Phase IV – Continuing to grow with limits of mineralized system yet to be found
Phase IV – Continuing to grow with limits of mineralized system yet to be found Plan View 412,300E 416,000E Facing NW 6,781,000N ATXD11B ATXD23 1,342.5 m of 0.70 % A A’ 964 m of 0.68% CuEq incl. 1,010 m CuEq incl. 602 m of A’ of 0.76% CuEq 0.76% CuEq A ATXD17 ATXD24* 4,000 m 1,160 m of 0.75% 669.4 m
Slide 16: >10 Kilometre Trend - Only 30% Explored
>10 Kilometre Trend - Only 30% Explored • The Valeriano and El Encierro Valeriano Property Outline El Encierro projects sit only 6 km apart both Antofagasta /Barrick JV 2,000 m Porphyry bodies already hosting significant resources 522Mt @ 0.79% CuEq with potential to grow. Inf (0.65% Cu, 0.22 g/t mi
Slide 17: South American Resource Landscape
South American Resource Landscape 0.9 • Valeriano ranks amongst the Los Bronces higher-grade copper projects 0.8 Los Calatos Growth anticipated in South America. Quebradona through drilling at project and in district La Americana • Phase III drill successfully 0.7 Tintaya World Class Project/Distric
Slide 18: Well Funded US$15M Facility with Strategic Shareholders
Well Funded US$15M Facility with Strategic Shareholders • Lenders are a group that includes Firelight (Pierre Lassonde) and Beedie • First US$10M tranche drawn on signing • Facility has maturity date of two years and a 6% interest rate • A second tranche of US$5M is also available (same terms as fir
Slide 19: Milestones for ATEX
Milestones for ATEX Q2 2023 H2 2023 Q1 2024 ATXD-22A: July: January Announced June Final Phase III assay results 2024: Potential ATXD-23: September: to add (Announced June) Metallurgical Test Work Results additional rigs ATXD-24: Q3 2023: Completed May Resource Update ATXD-22B: Q4 2023: Completed Ma
Slide 20: Capital Structure and Performance
Capital Structure and Performance Capital Structure (Nov 1, 2023) Research Coverage Proceeds if Securities Price (C$) Number Totals Exercised (C$) Paradigm Capital – David Davidson Shares Outstanding 175,386,295 #3 in Desjardins – Jonathon Egilo mining Warrants Cormark Securities – Stefan Ioannou $0
Slide 21: A Strong Board with a Diverse Skill Set
A Strong Board with a Diverse Skill Set Dr. Raymond Jannas, Craig Nelsen, President, CEO and Rob Suttie, Alejandra Wood, Jamile Cruz, Chairman Director Director Director Director • Geologist with over 40 years’ • Over 40 years’ experience in • Currently Vice President at • Over of 20 years’ internat
Slide 22: An Accomplished Team
An Accomplished Team Ben Pullinger, Dr. Raymond Sheila Francisco Bravo, Senior Vice President Jannas, Magallon, Exploration & Director of Exploration President, CEO and CFO Business Director Development • Over 40 years’ experience • Chartered Professional • Geologist with over 18 • Geologist with ov
Slide 23: ATEX Resources Minimizing the Time to Maximize the Value
ATEX Resources Minimizing the Time to Maximize the Value Contact Raymond Jannas, President and CEO rjannas@atexresources.com VALERIANO: Defining a Copper Gold Giant in Chile TSXV: ATX 23
Slide 24: Path to Significant Value Creation
Path to Significant Value Creation March 2023 1,342.5m of 0.70 %CuEq ATEX Jan 2022 First Drilling into Feb 2023 Results Porphyry target 1,270.1m of 0.59 %CuEq commences Jun 2022 Nov 2021 1,160 m of 0.75% CuEq Financing Pierre Lassonde • First year of continuous exploration by ATEX on becomes 10% sha
Slide 25: Top undeveloped copper projects in the world
Top 10 undeveloped copper projects in the world Valeriano is a new and globally significant copper discovery on its way to becoming a top tier project, currently containing 7.06 Mt of Cu (15.6 B lbs) at a 0.4% Cu COG1 and 10.4 Mt of Cu (23 B lbs) at 0.3% COG. 10 largest undeveloped copper projects i
Slide 26: Resource Provides Direct Valuation Metric Vs Comps
Resource Provides Direct Valuation Metric Vs Comps • Applying median consensus pricing of $0.024/lb CuEq contained to the 2023 Resource suggests an opportunity for significant value appreciation. • South American comparative projects, excluding Filo, have a median price of $0.056/lb CuEq presenting
Slide 27: On Track to achieving 100% ownership
On Track to achieving 100% ownership Valeriano Option Agreement Terms By September 1, 2023 (49%) completed $3.5 M payment (1/2 of which may be paid in shares at ATEX’s option) completed $3,500,000 By September 1, 2025 to earn 100% of Valeriano Project $5 M in work commitments $8.0 M payment (1/2 of
Slide 28: September 2023 Mineral Resource Statement
September 2023 Mineral Resource Statement Mineral Resource Statement, Valeriano Project, September 1, 2023 Quantity Grade Contained Metal Cut-off tonnes Cu Au Ag Mo CuEq* Cu Au Ag Mo Valeriano Project Grade tonnes Ounces Ounces tonnes (millions) (%) (g/t) (g/t) (g/t) (%) (millions) (000s) (000s) (00
Slide 29: Notes on Reported Exploration Results and QAQC Procedures
Notes on Reported Exploration Results and QAQC Procedures Notes on drill results • All intervals are reported as core lengths as the true lengths of the intervals are unknown at this time. • Copper Equivalent (CuEq) is calculated assuming US$ 3.15/lb Cu, US$ 1,800/oz Au, US$ 23/oz Ag, and US$ 20/lb
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