PTX Metals Inc. reports exploration, project and financing developments for a Canadian mineral exploration business focused on Northern Ontario. Company news centers on the W2 copper-nickel-PGE and gold project in the Ring of Fire area and the Shining Tree Gold Project in the Timmins Gold Camp, including drill results, geophysical and structural studies, target generation and follow-up exploration planning.
PTX updates also cover capital actions tied to exploration funding, including non-brokered private placements of flow-through shares, hard-dollar units and warrants. Corporate items include exchange listings, capital-structure changes and ownership updates involving Green Canada Corporation.
PTX Metals (PANXF) has completed Phase 1 of its 2026 exploration program at the Shining Tree Gold Project in the Timmins Gold Camp, Ontario, targeting historic Ronda mineralization.
The company drilled six holes totaling 1,209 metres, observing variable alteration and veining in all holes, with assays submitted to Activation Laboratories in North Bay and results pending. A concurrent soil sampling, prospecting and mapping program over the northwestern portion of Shining Tree along an untested section of the Ridout-Tyrrell Deformation Zone collected 321 soil samples and 59 grab samples, focused on areas of historically anomalous rock-chip geochemistry within a geophysical corridor; these assay results are also pending.
South Timmins Mining Corporation holds a 100% interest in the Shining Tree and Heenan Mallard projects, with PTX owning 75% and Fancamp Exploration 25%, and qualified persons have reviewed the technical information.
PTX Metals (PANXF) has resumed a 5,000 metre diamond drilling program at its W2 Copper‑Nickel‑PGE project in northwestern Ontario, focusing on the CA1 Zone.
Concurrent soil sampling and prospecting are underway across the Central area and additional target zones, with results to refine future drilling targets and the evolving geological model. The current work is covered by an extended exploration permit, which the company says provides regulatory certainty following a Crown consultation process. PTX highlights ongoing participation of First Nation businesses and community members in field programs and has a signed letter of intent with one community to outline communication and opportunities.
PTX also entered a four‑month investor outreach agreement with DK Capital Partners, involving a CAD $18,500 cash fee and 200,000 stock options at $0.11 per share for three years, subject to TSX Venture Exchange approval.
PTX Metals (OTCQB: PANXF) announced the closing of the previously disclosed transaction involving Green Canada Corporation and MAACKK Capital, resulting in the creation of Green Canada Uranium Corp. (GCUC). GCUC is expected to begin trading on the TSX Venture Exchange under the symbol “GCUC” on or around September 9, 2026, and has completed the acquisition of a 100% interest in the Marshall uranium project in Saskatchewan’s Athabasca Basin.
According to PTX Metals, the transaction supports its strategy of realizing value from non-core assets, lowering related costs, and sharpening focus on its core Ontario portfolio, including the W2 Copper-Nickel-PGE Project and South Timmins gold assets, while retaining significant exposure to GCUC’s future through its shareholding.
PTX Metals (OTCQB: PANXF) announced the closing of the previously disclosed transaction involving Green Canada Corporation and MAACKK Capital, resulting in the creation of Green Canada Uranium Corp. (GCUC). GCUC is expected to begin trading on the TSX Venture Exchange under the symbol “GCUC” on or around September 9, 2026.
GCUC has completed the acquisition of a 100% interest in the Marshall uranium project in Saskatchewan’s Athabasca Basin, where drilling is expected to commence in September. According to PTX, the transaction advances its strategy to generate value from non-core assets, reduce related costs, and sharpen focus on its core Ontario portfolio, including the W2 copper-nickel-PGE project and South Timmins gold assets, while retaining significant exposure to GCUC’s future through its shareholding.
PTX Metals (OTCQB: PANXF) reported results from the first locked cycle metallurgical test on a W2 Copper-Nickel-PGE Project sample, achieving 97% copper recovery to a concentrate grading 28% Cu, 7.2 g/t palladium and 0.8 g/t gold, using a relatively simple flotation flowsheet.
The test, completed by SGS Lakefield in Ontario, also recovered 70% of palladium and 54% of gold. Head grades were 0.78% Cu, 0.30 g/t Pd, 0.11 g/t Pt and 0.04 g/t Au. According to PTX Metals, these results provide further metallurgical validation of W2 mineralization and indicate potential to produce a saleable copper concentrate as part of systematic de-risking of the project.
PTX Metals (OTCQB: PANXF) announced several leadership and governance changes to support the advancement of its W2 Copper-Nickel-PGE Project and South Timmins gold assets. The company appointed veteran financial executive Michael Pesner, CPA, to the Board of Directors and as Chair of the Audit Committee, while long-serving director Jim Trusler stepped down from the Board but will continue on both the W2 and South Timmins Technical Advisory Committees.
PTX also named Kevin Wells, P.Geo., as Director of Operations and expanded its Technical Advisory Committees, adding Jim Atkinson to the W2 Committee and Charles Tarnocai to the South Timmins Committee, alongside existing member Wes Roberts. In conjunction with these changes, PTX granted 2,900,000 stock options to directors, officers and consultants at an exercise price of $0.10 for five years, and an additional 900,000 options to certain consultants at $0.11 for three years, all under its Stock Option Plan and subject to TSX Venture Exchange approval.
PTX Metals (OTCQB: PANXF) announced that its investee Green Canada Corporation and MAACKK Capital received conditional TSX Venture Exchange approval for the listing of the RTO resulting issuer, to be renamed Green Canada Uranium Corp.
Closing of the reverse takeover and listing remains subject to GCC completing a Concurrent Financing of at least $2,850,000, of which $1,931,232 has been raised, a three‑cornered amalgamation and remaining TSXV conditions. Net proceeds are earmarked for a 1,600-metre drill program on the Marshall Project, whose acquisition from Basin Energy entities is expected immediately after the RTO closes. MAACKK must also settle all debt, complete a 6.25:1 share consolidation, and continue from Alberta to Ontario.
PTX Metals (OTCQB:PANXF) welcomed Ontario’s decision to start construction of the Webequie Supply Road, launched five years ahead of schedule, supporting Ring of Fire critical minerals development. PTX also received an exploration permit to advance the next phase at its W2 Copper-Nickel-PGE and Gold Project.
The W2 project lies near Highway 599 at the Ring of Fire gateway. PTX reports five exploration programs completed and a multi million investment in local First Nation and regional businesses, with permits shaped by community input.
PTX Metals (OTCQB:PANXF) reported initial metallurgical results for its W2 copper-nickel-PGE project in Ontario. Open-circuit flotation testing recovered 97% Cu at 8.4% grade in rougher stage and achieved 92% recovery at 28% Cu in final concentrate. Palladium and gold concentrate grades were upgraded 21X and 16X versus head grade, with 53% Pd and 41% Au recovered to the copper concentrate. Nickel rougher recovery reached 77% at 0.83% Ni, but cleaner concentrate peaked at 5.6% Ni and 6% recovery. PTX plans locked cycle tests, further grind-size optimization, leach options for nickel, and additional tests on higher-grade material. The company also granted 650,000 stock options at C$0.14, exercisable for three years.
PTX Metals (OTCQB:PANXF, TSXV:PTX) has started Phase 1 diamond drilling at the priority Ronda Target on its Shining Tree gold project in Ontario. The 1,250 m, 6‑hole program follows 2024 trench results up to 60.30 g/t gold over 1.0 m and 9.0 g/t over 16.0 m.
PTX is also launching a soil sampling program of about 1,000 samples over four targets along the Ridout‑Tyrrell Deformation Zone, aiming to refine mineralized zones and support district‑scale exploration potential.