Interview with Ben Pullinger, President & CEO of ATEX Resources Inc.

Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-unlocking-value-in-a-world-class-copper-discovery-5124
 
Recording date: 4th June 2024

ATEX Resources (TSXV:ATX) is a junior mining company that is quickly establishing its Valeriano project as one of the most exciting new copper-gold discoveries in Chile. Located in the prolific Atacama region, Valeriano is shaping up to be a large, multi-billion ton porphyry system with attractive grades and robust economics.

Over the past three years, ATEX has rapidly advanced Valeriano through systematic exploration. The company's Phase 4 drill program, which wrapped up in early 2024, delivered significant growth in the resource and demonstrated the potential for a long-life, low-cost mining operation.

Highlights from Phase 4 include multiple high-grade intercepts, such as 68m of 2.02% copper equivalent (CuEq) and 112m of 1.43% CuEq in hole with continuous mineralization over an entire length (Hole ATXD25A). These results allowed ATEX to outline a high-grade core that measures 200-300m wide, 600-700m long, and remains open in multiple directions.

This high-grade zone sits within a larger mineralized envelope that now measures 1.2km long, 500m wide and 700m deep. ATEX estimates this envelope could contain close to a billion tons of mineralization, with an additional 2-3 tons of mineralized wall rock for every ton of high-grade diorite.

The growing resource at Valeriano is matched by outstanding metallurgy, with recent test work showing recoveries of 94-95% for both copper and gold. This combination of scale, grade and recoverability gives Valeriano the potential to become a Tier 1 copper asset, with a long mine life and low operating costs.

To realize Valeriano's full potential, ATEX is now looking to bring in a strategic partner and raise additional funds to accelerate resource growth. The company is targeting five drill rigs on the project by the end of 2024.

ATEX is well-positioned to attract a top-tier partner, with a tight share structure, strong institutional backing, and over $10 million in cash. The company has also strengthened its leadership team, recently adding Chris Beer, a 24-year veteran of major copper miners to its board.

Looking longer-term, ATEX sees potential for Valeriano to be part of a regional consolidation in the Atacama. The project is located near several other world-class copper deposits, including Nueva Union and La Fortuna. ATEX believes combining these projects could create a production hub with over 10 billion tons of copper resources.

With the world's demand for copper set to soar as the clean energy transition gains momentum, projects like Valeriano will be critical to meeting future supply needs. ATEX offers investors leveraged exposure to rising copper prices and to the value created by exploration success. As Valeriano continues to deliver impressive results, ATEX is an attractively valued opportunity with significant upside potential.

Learn more: https://cruxinvestor.com/atex-resources

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