PTX Announces Commencement of a Phase 2 Program at W2 Cu-Ni-PGE Project, Ontario
PTX Metals Inc. (OTCQB: PANXF) has initiated Phase 2 drilling program at its wholly-owned W2 Cu-Ni-PGE Project in Ontario. The 22,000-hectare property, located southwest of the Ring of Fire, will undergo up to 10 drill holes targeting the CA_1 and CA_2 zones in the Central Target Area.
Initial results from the first five holes have revealed visible mineralization including disseminated, semi-massive to massive sulfides over significant widths, with assays pending. The company aims to convert the September 2024 exploration target into a potential mineral resource estimate and expand the 'Interzone' mineralization between CA_1 and CA_2 zones, potentially spanning 4 km strike length.
The company has completed a 3,191 line-km HeliGT Magnetic Survey and is developing 3D geological models to enhance targeting. Operations are based out of Webequie First Nation, 50 km north of the project. Future work includes IP surveys, additional drilling, field mapping, and age dating of gabbro samples to understand potential connections with Ring of Fire mineralization.
PTX Metals Inc. (OTCQB: PANXF) ha avviato il programma di perforazione della Fase 2 presso il suo interamente posseduto W2 Cu-Ni-PGE Project in Ontario. La proprietà di 22.000 ettari, situata a sud-ovest del Ring of Fire, subirà fino a 10 perforazioni mirate alle zone CA_1 e CA_2 nell'Area Target Centrale.
I risultati iniziali delle prime cinque perforazioni hanno rivelato mineralizzazione visibile, inclusi solfuri disseminati, semi-massivi e massivi su larghezze significative, con i risultati delle analisi ancora in attesa. L'azienda mira a convertire l'obiettivo esplorativo di settembre 2024 in una potenziale stima delle risorse minerali e ad espandere la mineralizzazione 'Interzone' tra le zone CA_1 e CA_2, potenzialmente estendendosi per 4 km di lunghezza.
L'azienda ha completato un'indagine magnetica HeliGT di 3.191 km di linea e sta sviluppando modelli geologici 3D per migliorare il targeting. Le operazioni si basano presso la Webequie First Nation, a 50 km a nord del progetto. I lavori futuri includono indagini IP, perforazioni aggiuntive, mappatura sul campo e datazione dei campioni di gabbro per comprendere le potenziali connessioni con la mineralizzazione del Ring of Fire.
PTX Metals Inc. (OTCQB: PANXF) ha iniciado el programa de perforación de Fase 2 en su totalmente poseído W2 Cu-Ni-PGE Project en Ontario. La propiedad de 22,000 hectáreas, ubicada al suroeste del Ring of Fire, se someterá a hasta 10 perforaciones dirigidas a las zonas CA_1 y CA_2 en el Área Objetivo Central.
Los resultados iniciales de los primeros cinco agujeros han revelado mineralización visible, incluyendo sulfuros diseminados, semi-masivos y masivos sobre anchos significativos, con los análisis pendientes. La empresa tiene como objetivo convertir el objetivo de exploración de septiembre de 2024 en una posible estimación de recursos minerales y expandir la mineralización 'Interzona' entre las zonas CA_1 y CA_2, que potencialmente se extiende por 4 km de longitud.
La empresa ha completado un levantamiento magnético HeliGT de 3,191 km de línea y está desarrollando modelos geológicos en 3D para mejorar el direccionamiento. Las operaciones se basan en la Webequie First Nation, a 50 km al norte del proyecto. El trabajo futuro incluye encuestas IP, perforaciones adicionales, mapeo de campo y datación de muestras de gabro para entender las conexiones potenciales con la mineralización del Ring of Fire.
PTX Metals Inc. (OTCQB: PANXF)는 온타리오에 있는 전액 출자한 W2 Cu-Ni-PGE Project에서 2단계 시추 프로그램을 시작했습니다. 22,000헥타르의 부지는 링 오브 파이어의 남서쪽에 위치하며, 중앙 목표 지역의 CA_1 및 CA_2 구역을 목표로 최대 10개의 시추 구멍을 뚫을 예정입니다.
첫 다섯 개 구멍의 초기 결과는 가시적인 광물화가 포함되어 있으며, 상당한 폭에 걸쳐 분산된, 반고체 및 고체 황화물이 발견되었으며, 분석 결과는 아직 대기 중입니다. 회사는 2024년 9월 탐사 목표를 잠재적인 광물 자원 추정으로 전환하고 CA_1과 CA_2 구역 사이의 '인터존' 광물화를 확장하는 것을 목표로 하고 있으며, 이는 최대 4km의 길이를 가질 수 있습니다.
회사는 3,191km의 HeliGT 자기 조사를 완료했으며, 타겟팅을 개선하기 위해 3D 지질 모델을 개발하고 있습니다. 작업은 프로젝트에서 북쪽으로 50km 떨어진 웨베쿠이 퍼스트 네이션에서 진행되고 있습니다. 향후 작업에는 IP 조사, 추가 시추, 현장 매핑 및 가브로 샘플의 연대 측정이 포함되어 있으며, 링 오브 파이어 광물화와의 잠재적 연결을 이해하는 데 도움을 줄 것입니다.
PTX Metals Inc. (OTCQB: PANXF) a lancé le programme de forage de Phase 2 sur son projet W2 Cu-Ni-PGE entièrement détenu en Ontario. La propriété de 22 000 hectares, située au sud-ouest du Ring of Fire, subira jusqu'à 10 forages ciblant les zones CA_1 et CA_2 dans la zone cible centrale.
Les résultats initiaux des cinq premiers forages ont révélé une minéralisation visible, y compris des sulfures disséminés, semi-massifs à massifs sur des largeurs significatives, avec des analyses en attente. L'entreprise vise à transformer l'objectif d'exploration de septembre 2024 en une estimation potentielle des ressources minérales et à étendre la minéralisation 'Interzone' entre les zones CA_1 et CA_2, qui pourrait s'étendre sur 4 km de longueur.
L'entreprise a complété une enquête magnétique HeliGT de 3 191 km de lignes et développe des modèles géologiques 3D pour améliorer le ciblage. Les opérations sont basées à la Webequie First Nation, à 50 km au nord du projet. Les travaux futurs comprennent des enquêtes IP, des forages supplémentaires, de la cartographie de terrain et la datation des échantillons de gabbro pour comprendre les connexions potentielles avec la minéralisation du Ring of Fire.
PTX Metals Inc. (OTCQB: PANXF) hat das Bohrprogramm der Phase 2 in seinem vollständig im Besitz befindlichen W2 Cu-Ni-PGE Project in Ontario gestartet. Das 22.000 Hektar große Grundstück, das sich im Südwesten des Ring of Fire befindet, wird bis zu 10 Bohrlöcher an den Zonen CA_1 und CA_2 im zentralen Zielbereich bohren.
Erste Ergebnisse aus den ersten fünf Löchern haben sichtbare Mineralisierungen gezeigt, darunter disseminierte, semi-massive bis massive Sulfide über signifikante Breiten, während die Analysen noch ausstehen. Das Unternehmen zielt darauf ab, das Explorationsziel für September 2024 in eine potenzielle Schätzung der Mineralressourcen umzuwandeln und die 'Interzone'-Mineralisierung zwischen den Zonen CA_1 und CA_2 zu erweitern, die möglicherweise eine Länge von 4 km umfasst.
Das Unternehmen hat eine HeliGT-Magnetuntersuchung über 3.191 Linienkilometer abgeschlossen und entwickelt 3D-geologische Modelle, um die Zielgenauigkeit zu verbessern. Die Operationen basieren in der Webequie First Nation, 50 km nördlich des Projekts. Zukünftige Arbeiten umfassen IP-Untersuchungen, zusätzliche Bohrungen, Feldkartierungen und Altersbestimmungen von Gabbro-Proben, um potenzielle Verbindungen zur Mineralisierung des Ring of Fire zu verstehen.
- 100% ownership of 22,000-hectare W2 Project near Ring of Fire
- Visible mineralization discovered in first five holes of Phase 2 drilling
- Potential 4 km strike length mineralization between CA zones
- Completed comprehensive 3,191 line-km magnetic survey
- Assay results still pending from initial Phase 2 drill holes
- No defined mineral resource estimate yet
Toronto, Ontario--(Newsfile Corp. - April 1, 2025) - PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company"), a mineral exploration company focused on high-quality Cu-Ni-PGE and gold projects in northern Ontario, is pleased to announce the commencement of a Phase 2 program at its
Drilling Program:
The Phase 2 drill program consists of up to 10 holes that are designed to test and expand zones of mineralization in the CA_1 and CA_2 in the Central Target Area. Preliminary results from the first five holes drilled have shown intercepts of visible mineralization as disseminated, semi-massive to massive sulfides over significant widths. Assay results have yet to be received.
A key priority is bringing the exploration target outline of September 4th, 2024, to a potential mineral resource estimate and expansion of mineralization in the "Interzone" located between the CA_1 and CA_2 zones, that could cumulate 4 km strike length. (see Figure below).
Drill targets were generated from a newly developed 3D geological model led by SunDog Geology over the Central Target focused on the CA Zones. A similar model will be completed on the AP zones in April. This new interpretation will lead to expanding the mineralized corridor of the CA zones toward the northeast de-risking further work spending.
Additionally, the Company has completed a property-wide HeliGT Magnetic Survey ("Mag Survey") of 3,191 line-km, for which both the 3D geological model and the Mag survey results will be announced shortly. Such compilation aims to build confidence in growing a larger mineralized system starting with the Central Target and simultaneously defining new areas of interest across the W2 Project. [Source: January 22, 2025. Hogg & Associates property-wide high resolution airborne magnetic survey on its W2 CU Ni PGE project].
Figure: Zoom in on the Central Target Area and its main zones of mineralization. Showings of focused areas: CA1, CA1_inter, CA2, AP, AP North, AP East. Base layer is the geology overlaying initial results of the most recent Heli-GT Magnetic Survey - TMI view.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/246914_ff7569e4b4ae5970_001full.jpg
Operations for the drill program are based out of Webequie First Nation, situated 50 km north of the W2 Project. The company received drill permits from MINES on June 14th, 2023, and November 29th, 2024 (see news release dated June 19, 2023, and December 4th, 2024).
Work Plan & Company Technical Strategy
The Company has undertaken steps since consolidation of the W2 Project to de-risk and increase value of the asset - starting with validation of historical data, including consolidation of the database, an initial exploration target outline, and a Phase 1 step out and expansion drill program primarily in the AP zones and regionally carried out in 2024. The program was successful in intersecting magmatic Cu-Ni sulfide mineralization across the Project (see news release dated July 24th and July 30th, 2024).
Currently the Company is focused on additional drilling, improving targeting by implementing geophysical surveys, and expanding the current geological model, all of which will be followed up by ground truthing and further drill programs.
As a result, the Company is undertaking the following steps for the spring and summer:
- Developing additional targets defined by the Magnetic Survey review and data compilation.
- Undertake a geophysical IP survey over the CA zones to resolve the geophysical response of the disseminated, semi-massive to massive sulfide mineralization and test for continuity beyond the areas of historic drilling.
- Additional drilling on CA interzone aiming to complete the connection between known mineralized zones, which were previously identified by historical drilling.
- Field mapping and ground truthing in areas of coincident magnetic and AEM anomalies on the property which have never been tested previously within the Central Target as well as at the property scale.
- Age dating on gabbro samples from its 2024 and 2025 drill program to determine if the mafic intrusions hosting Cu-Ni-PGE mineralization at W2 are the same age as the mafic-ultramafic intrusions in the Ring of Fire. Understanding the relation between W2 and the Ring of Fire may have important implications for the exploration strategy moving forward.
Qualified Person:
The technical information presented in this news release has been reviewed and approved by Joerg Kleinboeck, P. Geo., a non-independent qualified person to PTX Metals who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a "qualified person" (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About PTX Metals Inc.:
PTX is a mineral exploration company focused on high-quality critical minerals projects, including two flagship projects situated in northern Ontario, renowned as a top mining jurisdiction for its abundance of mineral resources and investment opportunities. Our corporate objective is to advance the exploration programs towards proving the potential of each asset, which includes the W2 Cu-Ni-PGE and the South Timmins Gold Project.
PTX's portfolio of assets offers investors exposure to some of the most valuable metals including gold, as well as essential critical minerals for the clean energy transition: copper, nickel, PGE, uranium and rare metals. PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and proximity to established mining companies. PTX's mineral exploration programs are designed by a team of expert geologists with extensive career knowledge gained from their tenure working for global mining companies in northern Ontario and around the world.
PTX is based in Toronto, Canada, with a primary listing on the TSX under the symbol PTX. The Company is also listed in Frankfurt under the symbol 9PF and on the OTCQB in the United States as PANXF.
For additional information on PTX, please visit the Company's website at https://ptxmetals.com/.
For further information, please contact:
Greg Ferron, President and Chief Executive Officer
Phone: +1 (416) 270-5042
Email: gferron@ptxmetals.com
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the ability of the Company to satisfy the regulatory, stock exchange and commercial closing conditions of Private Placement, and the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals, will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246914
FAQ
What are the initial findings from PTX Metals' (PANXF) Phase 2 drilling program at W2 Project?
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