ATEX Resources (TSXV:ATX) – 2 Billion Ton Copper With Near-Term Development

Interview with Chris Beer, Interim President & CEO of Atex Resources

Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-chile-copper-giant-hits-2b-ton-target-secures-strategic-land-rights-8108

Recording date: 2nd April 2026

Atex Resources finds itself at a strategic inflection point as interim CEO Chris Beer steers the company through a leadership transition while maintaining aggressive exploration momentum at its Valeriano copper-gold project in Chile. Following the January departure of founding CEO Ben Pullinger for personal reasons, the board is conducting a comprehensive executive search targeting candidates with exploration expertise, engineering background, and proven ability to engage with major mining companies.

The company operates from a position of financial strength, holding $150 million in cash that funds approximately 2.5 to 3 years of drilling at current activity levels. This runway allows Atex to pursue an ambitious exploration strategy without near-term financing pressure, a significant advantage in the current market environment.

The Valeriano project has delineated 2 billion tons of copper mineralization at 0.8% copper equivalent, comprising 1.5 billion tons in the inferred category and 500 million tons in the indicated category. What distinguishes this discovery is the high-grade B2B breccia zone sitting above the massive porphyry system. This breccia currently measures 30 to 40 million tons, with the company targeting expansion to at least 50 million tons at grades exceeding 1.5% copper equivalent.

Recent Phase 6 drilling has exceeded expectations, extending beyond the original 25,000-meter target to more than 30,000 meters. A particularly significant intercept in Hole 34 discovered nearly one kilometer of continuous mineralization in rhyolite rather than the expected breccia, potentially expanding the B2B tonnage by 70% in a single hole. This finding opens new geological dimensions and questions whether the system represents discrete breccia clusters or a more continuous mineralized envelope.

The dual nature of the deposit creates unusual development optionality. The high-grade breccia presents a near-term development target accessible to mid-tier producers, while the underlying porphyry system compares favorably to world-class block cave operations like Red Chris in Canada and Carrapateena in Australia. Strategic backing from Agnico Eagle, which holds over 15% of outstanding shares, validates the district-scale potential that includes three to four additional Valeriano-like targets within six kilometers awaiting systematic testing.

View Atex Resources' company profile: https://www.cruxinvestor.com/companies/atex-resources-inc

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