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ATEX

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  25 Adelaide Street East – Suite 1900
Toronto, Ontario
Canada M5C 3A1
Tel No.: 647-248-8174
Web Site: www.atexresources.com
E-mail: bpullinger@atexresources.com
Contact Person: Ben Pullinger
Position: SVP Exploration & Business Development


Company Data

Traded Market: TSX-V
Traded Symbol: ATX
Outstanding Shares: 110M
Public Float: 85M
52 Week High: $ 0.97
52 Week Low: $ 0.1
Present Price: Click Here


Introduction

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ATEX Resources Inc. is a Chilean-focused exploration company managed by a team of dedicated professionals with the goal of discovering economically viable mineral deposits through a disciplined approach to exploration. ATEX's flagship Valeriano Copper-Gold Project is located in Chile's prolific El Indio mineral belt.

Investment Highlights

Proven Management Team

  • Led by a successful team with numerous discoveries to their credit including the Pascua-Lama, Volcan, Fenix and El Morro (Now called La Fortuna – Newmont/Teck JV) Deposits.

Exploration/Discovery Stage Project

  • Valeriano Copper-Gold Project with two resource deposits outlined that includes a near surface, leachable, oxide gold deposit and an underlying copper gold porphyry deposit.

Active Generative Exploration Program

  • Using the Company’s extensive background in Chile to stake prospective open ground.
Located in Mining Friendly Chile
  • Chile is a Tier 1 mining jurisdiction with excellent infrastructure, a resource-based economy and a government supportive of resource development.


FLAGSHIP PROJECT

Valeriano Copper-Gold Project, Chile

Project Overview

  • Option to acquire 100% of Valeriano was entered into in 2019 with final payment due in September 2025.
  • Agreement covers 15 exploitation and 2 exploration concessions totaling 3,705 ha.
  • Valeriano is located 125 km southeast of the City of Vallenar, in the Atacama Region of northern Chile.
  • Major producers actively exploring on adjacent concessions.
  • Contiguous to the Antofagasta/Barrick El Encierro copper gold porphyry JV.
  • ATEX benefits from 26,847 m of drilling completed by three companies since 1986 principally focused on near surface gold oxide
    • Phelps Dodge, Barrick and Hochschild.
  • The Valeriano Project hosts a large copper gold porphyry deposit overlain by a near surface oxidized epithermal gold deposit, located in an emerging copper district.
  • Valeriano Resource Estimates (2020)
    • Underexplored large copper gold porphyry deposit:
      • Inferred Resource: 297.3 Mt @ 0.59% Cu, 0.19 g/t Au & 0.90 g/t Ag (0.77% CuEq) at a cut-off grade of 0.50% Cu
      • Contained Metals: 1.77 Mt Cu, 1.8 Moz Au, 8.6 Moz Ag (2.3 Mt CuEq)
    • Gold oxide epithermal deposit:
      • Inferred Resource: 34.4 Mt @ 0.53 g/t Au & 2.40 g/t Ag
      • Contained Metals: 584,000 oz Au & 2.65 Moz Ag (621,500 oz AuEq)
  • Valeriano Phase I program was focused on near surface gold oxide deposit.
  • Recently completed Phase II program was focused on confirming and expanding the copper gold porphyry footprint.
    • Primary objective of the Phase II drilling was to expand the known higher grade porphyry intercepts in drill hole VALDD-14 with 3 drill holes.
    • Hole ATXD-17
      • Remained in mineralization through to its final depth of 2,057 metres.
      • Returned 1,160 metres of 0.78% CuEq including 550 metres of 1.03% CuEq.
      • Successfully extended the copper gold porphyry mineralization by 200 metres southwest of historical drill hole VALDD-14 (0.73% CuEq over 1,194 m).
      • Confirmed the presence and continuity of a high-grade , +1.0% CuEq core of the porphyry, initially intersected in VALDD-14 (1.00% CuEq over 272 m), and extended it 200 metres to the southwest.

      Drill results outline major expansion potential of the porphyry mineralization to the northeast and southwest outlining an 850 by 800 metre envelope of copper gold mineralization which remains open in all directions.

  • Raymond Jannas President and CEO of ATEX stated, “The results clearly establish that a very large Andean mineralized porphyry system exists at Valeranio and affirms our belief that the Project has potential to host the next major Chilean porphyry deposit.” (See news release dated June 13, 2022)
  • Phase III drill program is targeting extending and further defining high grade, testing new targets and expansion.

Next Steps

Plans are currently being made for a major drilling campaign during the 2022/23 season with the key goals of:

  • Determination of the extent of the copper-gold mineralization in all directions
  • Delineation of the size and orientation of the high grade (+1.0% CuEq) core intersected in holes VALDD-14 and ATXD-17
  • Infill drilling of known mineralization in anticipation of an update to the resource estimate
  • Collection of samples for metallurgical test work
  • Detailed geotechnical logging of the core
  • Exploration camp acquired and currently being installed


Management

Management and Directors

Dr. Raymond Jannas, Chief Executive Officer and Director

Over 40 years’ experience in mining geology & exploration.

Headed teams that led to discovery of Pascua-Lama, El Morro & Cortadera in Chile.

Held senior positions with Gold Fields, Barrick Gold, LAC Minerals, Hochschild Mining, Metallica Resources.

Ph.D. from Harvard University.

Thomas Pladsen, Chief Financial Officer

Finance professional with 30 years of experience as a senior executive & director with public companies largely in the exploration industry.

Co-founder of ATEX Resources Inc. and previously, co-founder and CFO of Atacama Pacific Gold.

Formerly the CFO of Andina Minerals, Katanga Mining and number of other publicly traded companies.

Ben Pullinger, Senior Vice President Exploration and Business Development

Geologist with over 17 years’ of international mineral exploration and business development experience.

Held senior executive positions with Golden Star Resources, Excellon Resources and Roxgold Inc.

Director of Orford Mining.

Dr. Albrecht Schneider, Consultant

Geologist with 40 years’ experience in mining & mineral exploration industry.

Co-founder of ATEX Resources Inc, Chairman & co-founder of Atacama Pacific Gold, general manager & co-founder of Andina Minerals & Senior VP of Exploration, TVX Gold.

Instrumental in discovery of Cerro Maricunga, Volcan & Salares Norte deposits; led teams outlining Asacha & Zolotoe deposits in Russia, Kasperske Hory deposit in Czech Republic, & Skouries deposit in Greece.

Craig Nelsen, Chairman

Geologist with over 40 years’ international exploration experience; retired from Gold Fields with 8 years as the Executive VP of Exploration.

CEO of Metallica Resources for 9 years and Chairman for 14 years.

Rob Suttie, Director

Currently Vice President at Marrelli Support Services Inc. with over 20 years’ experience in corporate accounting and financial disclosure.

Alejandra Wood, Director

Over of 20 years’ international and Chilean mineral industry experience.

Currently sits on the board of Codelco

Formerly the Executive Director of the Center for Copper and Mining Studies (“Cesco”)

Jamile Cruz, Director

Experienced engineer and has held senior capital projects consulting roles with a number of international mining companies.

Founder and currently Executive Director of I&D 101 Inc.


News Update

On August 25, 2022, ATEX announced that it has completed its previously announced private placement financing. A total of 20,013,261 units were issued at a price of 62 cents per unit, raising gross proceeds of $12,408,222. ATEX intends to use the proceeds from the offering to advance the Company’s Valeriano Copper-Gold Project and for general corporate purposes.

On August 3, 2022, ATEX announced upsize of previously announced private placement financing to up to $10.8 million.


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