08:43 AM EDT, 06/21/2024 (MT Newswires) -- CopperEx Resources (CUEX.V) said Friday that it has initiated a focused geological field exploration program in preparation for Phase II drilling on the ADLP and Sopresa Targets at the company's flagship Exploradora Norte Project, Northern Chile.

According to a statement, the company plans to conduct a three-week fieldwork, which has been designed to focus on infill areas and extensions in both the north and south directions on the ADLP Target and infill areas and extension to the north on the Sorpresa Target.

Among the highlights from the inaugural drill program, the company reported 114 meters of 0.95 g/t gold from 4 meters to 118 meters in RC hole A-RC-02. Also, RC hole S-RC-01 returned 58 meters of 0.74 g/t gold from 68-126 meters; and RC hole S-RC-02 returned 85 meters of 0.42 g/t gold from 76 meters to 161 meters.

The company said once laboratory results have been received, the Phase II drill program design will be finalized, whereby the preliminary quotation process for drilling has commenced based upon a forecast range of meters to drill.

CopperEx expects to commence drilling Phase II in less than four months, with follow up drilling on the exceptional results of the recently completed and published inaugural drill program.

Dave Prins, President & CEO of CopperEx, said, "Based upon the excellent results of the recently published Phase I drill campaign, which demonstrated the robust gold grades and continuity at ADLP and importantly demonstrates that the newly identified surface gold mineralization at Sorpresa extends to depth and along strike, we are confident that the Phase II drill program will further expand on these results and the targets. We look forward to delivering the results from the Phase II drill campaign in a very timely manner, as was clearly accomplished on Phase I drilling."

John Robins, Technical Advisor to CopperEx, added results from the Phase I program "demonstrate the potential for a large oxide gold deposit, in addition to the project's copper potential."