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ATEX Resources Inc.
Summary
| Project: | Valeriano | |
|---|---|---|
| Deposit: | Valeriano | |
| Location: | Chile | |
| Commodities: | Copper-Gold-Molybdenum | |
| Date: | 12/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-12-2019: ATEX Resources Inc. announces a Supporting Acquisition report for its Valeriano deposit at the Valeriano project. Summary of property in support of acquisition. The Valeriano Project (the “Project”, “Property” or “Valeriano”) hosts a | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Hopper (Independent) | |
| ABSTRACT: | The Valeriano Project (the “Project”, “Property” or “Valeriano”) hosts a classic porphyry‐ epithermal system of Miocene age (Sillitoe et al 2016). The well‐preserved system comprises a mineralized Cu‐Au‐Mo porphyry at depth, which transitions upwards into mineralized coeval high‐sulphidation epithermal Au mineralization at and near the present‐day surface. The Project has been the subject of multiple exploration programs by different companies (Table 1), beginning with the exploration of the epithermal potential in the 1980’s, and culminating in the discovery of the mineralized porphyry in 2013. The following Report, prepared for ATEX Resources Inc. (“ATEX”), describes exploration activities, associated studies and results thereof. Valeriano is located in the Atacama Region of northern Chile, approximately 125 km to the southeast of the City of Vallenar (151 km by road) and 27 km north of Barrick’s Pascua‐Lama Project. The Property comprised 15 exploitation concessions and 2 exploration concession covering a total area of 3,795 ha, excluding overlapping concessions. The project abuts the Chile‐ Argentina border. Elevations vary from 3,800 to 4,400 masl. The Valeriano Property is owned by Sociedad Contractual Minera Valleno and is under option to ATEX Valeriano SpA, a 100% owned Chilean subsidiary of ATEX Resources Inc. The option agreement has been appropriately filed with the Chilean authorities under Repertorio No.14.738‐ 2019. The Property is subject to a 2.5% net smelter royalty payable on any metal production. | |
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