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ATEX Resources (TSXV: ATX) received conditional approval from the TSX Venture Exchange for its acquisition of the Valeriano porphyry copper-gold project, located in Chile. 

The decision means that ATEX shares will again commence trading on the TSXV on December 5, 2019.

“With the conditional approval of the Valeriano copper-gold project acquisition in hand, we can start making the necessary preparations to commence exploration activities in the new year,” said Carl Hansen, CEO of the Vancouver-based miner, in a media statement. “The previous Hochschild exploration activities, including geophysics and limited drilling, demonstrated the presence of a large porphyry system at Valeriano. It is our intent to commence a diamond drilling program in early 2020 to establish the potential of a copper-gold porphyry system.”

Valeriano is located in Chile’s prolific El Indio Belt, 30 kilometres north of Barrick/Shadong’s Veladero mine and immediately south and adjacent to Antofagasta/Barrick’s El Encierro project. 

According to ATEX, the project overlies a large copper-gold molybdenum-bearing porphyry system which has only been partially tested by three diamond drill holes completed in 2013 by Hochschild Mining. 

“Two of the drill holes intersected a potassic altered granodiorite porphyry including drill hole VAL13-14 which returned 1,194 metres grading 0.52% copper, 0.24 grams per tonne gold and 36 parts per million molybdenum or 0.73% Cu equivalent and included 416 metres of granodiorite porphyry which graded 0.67% Cu, 0.32 g/t Au and 31 ppm Mo for 0.94% Cu eq. The drill hole ended in mineralization,” Hansen said in the press brief.