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ATEX Resources Inc ( (TSE:ATX) ) has issued an update.
ATEX Resources has reported new high-grade drill results from its Phase VI program at the Valeriano copper-gold project in Chile, extending the high-grade B2B breccia zone by about 100 meters to the north. Hole ATXD32 returned 56 meters at 2.36% copper equivalent within 592 meters at 1.04% copper equivalent, while final results from ATXD26B confirmed long, high-grade intervals that extend the B2B Zone 100 meters down dip and increase grades relative to prior estimates.
The company now has six diamond drill rigs turning and has completed roughly 80% of its 25,000-meter Phase VI program, which is running ahead of schedule despite slower assay turnaround times. Follow-up drilling to both the north and south, including work in an area of roughly 350 by 200 meters that remains largely untested above the porphyry, is aimed at further expanding the B2B Zone, underscoring the zone’s potential to significantly grow the high-grade core of Valeriano for stakeholders.
The most recent analyst rating on (TSE:ATX) stock is a Buy with a C$5.25 price target. To see the full list of analyst forecasts on ATEX Resources Inc stock, see the TSE:ATX Stock Forecast page.
Spark’s Take on TSE:ATX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ATX is a Neutral.
The score is held back primarily by weak financial performance: no revenue, widening losses, and significantly higher cash burn that elevates funding/dilution risk. Technicals provide the main support due to a strong uptrend, but very overbought momentum signals increase pullback risk. Valuation is difficult to assess given negative earnings and no dividend yield data.
To see Spark’s full report on TSE:ATX stock, click here.
More about ATEX Resources Inc
ATEX Resources Inc. is a mineral exploration company focused on advancing the Valeriano copper-gold project in Chile’s Atacama Region. The company targets large-scale porphyry and breccia-hosted copper-gold systems, positioning itself within the Latin American copper-gold exploration space, where high-grade discoveries can materially impact project economics and development options.
Average Trading Volume: 710,776
Technical Sentiment Signal: Buy
Current Market Cap: C$1.44B
For detailed information about ATX stock, go to TipRanks’ Stock Analysis page.