PTX Metals Inc. Intercepts 235m of Mineralization, the Widest Near-Surface Mineralized Interval to Date at Its W2 Cu-Ni- PGE and Gold Project
PTX Metals Inc. Intercepts 235m of
Mineralization, the Widest Near-Surface
Mineralized Interval to Date at Its W2 Cu-Ni-
PGE and Gold Project
Toronto, Ontario--(Newsfile Corp. - May 27, 2025) -
PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF)
(FSE: 9PX)
("
PTX
" or the "
Company
"), a mineral exploration company focused on Cu-Ni-Au-PGE and
Gold projects in Ontario, announces initial assay results from two drill holes of its Phase 1 of
2025 drilling
program at the W2 Cu-Ni-PGE and Gold Project
located in the Ring of Fire, northwestern Ontario,
Canada (the "
W2 Project
"). This marks the first drill campaign in the CA zones (CA1 and CA2 see
attached image) since 1990s, aiming to infill, confirm and expand historical reported drill results. Assays
are pending for the additional drillholes.
The W2 Project drilling strategy targets near-surface copper-bearing disseminated sulphide
mineralization and aims to demonstrate the continuity of the system along strike and at depth. Based on
the current and historical drilling, combined with geophysical surveys, the central target area is
interpreted to extend for approximately 8 km in strike length and remains open at depth (see press
release of May 7
th
, 2025).
The second objective of the exploration program was to better delineate semi-massive to massive
sulfides mineralization as well as Nickel sulphides in the CA zones reported by historical mineral
exploration work, and to evaluate the presence of Gold and Platinum Group Elements (PGEs) that were
not assayed in many historical drill holes.
Historical drilling was selective in assaying for all commodities and selective sampling procedures
occurred. As a result, the Company has systematically assayed for Copper, Nickel, Gold, Palladium,
Platinum and Cobalt and is now not reporting using Metal Equivalents and seen substantial
improvements in the widths of mineralization with these practices. Additionally, for simplification
purposes, Cu+Ni (%) and Au+Pt+Pd (g/t) are reported below as the arithmetic sum of individual
commodity per interval chosen. Individual grades by commodity are also shown in table 1.
Highlights - Drill Holes W225-10 and W225-11
Drillhole W225-10 intercepted the widest mineralized near-surface intercept to date, which reports
a width of 235.14 m of mineralization, starting directly after the overburden at 19.86m. Located 3
km away to the east, drillhole W225-11 intersected a zone of higher-grade near surface
mineralization demonstrating consistence along strike of the targeted geophysical anomaly
connecting CA1 and CA2 zones (see Figure 1).
Highest-grades by individual commodity in the two holes combined include:
1.81% Copper,
1.48% Nickel, 5.59 g/t Gold, 0.66 g/t Platinum and 0.57 g/t Palladium and Cobalt 0.13%
Drillhole W225-11 intercepted the CA2 Zone 58.00 of core length from
37.00 m to 95.00 m and
returned 0.27% Cu, 0.21% Ni, and 0.23 g/t Au+Pt+Pd
, including multiple shorter higher-grade
intervals such as:
17.00 m of 0.50% Cu, 0.40% Ni and 0.33 g/t (Au+Pt+Pd) and 2.07 m of 1.32% Cu,
0.26% Ni, and 0.20 g/t (Au+Pt+Pd)
(see Table 1 below for details):
Drillhole W225-10 intercepted a near-surface significant number of continuous higher-grade
intervals throughout the length of the 235.14 m that reported 0.17% Cu, 0.08% Ni and 0.18 g/t
(Au+Pt+Pd) to 255.00 m, including multiple higher-grade intervals:
26.14 m of 0.30% Cu, 0.07% Ni, and 0.14 g/t (Au+Pt+Pd)
5.36 m of 0.59% Cu, 0.14% Ni and 0.29 g/t (Au+Pt+Pd)
29.00 m of 0.25% Cu, 0.15% Ni and 0.14 g/t (Au+Pt+Pd)
42.00 m at 0.22% Cu, 0.12% Ni and 0.15 g/t (Au+Pt+Pd)
13.00 m of 0.30% Cu, 0.14% Ni, and 0.36 g/t (Au+Pt+Pd)
6.60 m of 0.43% Cu, 0.20% Ni and 0.42 g/t (Au+Pt+Pd)
0.68 m of 1.50% Cu, 0.29% Ni and 0.43 g/t (Au+Pt+Pd)
Systematic sampling in both holes shows improved widths over nearby historical drillholes
suggesting potential to improve width and tonnage of the mineralized zones at depth (Figure 2 and
3). Additionally, a repeating pattern of higher-grade Cu-Ni mineralization within the broader hole
has been observed throughout the holes, suggesting that further mineralization could extend at
depth. Hole W225-10 intercepted 0.79% (Cu+Ni) and 0.54 g/t (Au+Pt+Pd) at 247.00-249.00m.
Greg Ferron, President and CEO of PTX Metals, stated: "We are very encouraged by the results from
drill holes W225-10 and W225-11 that were drilled into CA1 and CA2 zones respectively at our W2 Cu-
Ni-PGE and Gold Project. These results start validating the exploration target issued last September,
which outlines a large near-surface project and improves the understanding of our exploration model.
Hole W225-10 and W225-11 intersected broader and deeper zones of mineralization than previously
reported, demonstrating improved continuity and the potential to significantly expand both CA1 and CA2
zone at depth."
Table 1: Selected Results from drill holes W225-10 and W225-11. Intervals reported as core lengths.
True widths are unknown at this time.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/253464_ptxtable1.jpg
Drillhole W225-10, drilled into the CA1 Zone, was designed as an infill and expansion hole near
historical holes 54004-0 and 54007-0 drilled by Inco. The new results not only confirmed the continuity of
the mineralized horizon but defined a wider and deeper intercept than previously reported in historical
data (Figure 2). Historical holes 54007-0 and 54005-0 were drilled at shallower depth and weren't
sampled throughout (up to 37.85m in hole 54007-0 and 42.43m in hole 54005-0 not sampled). PTX's
more comprehensive sampling in W225-10 demonstrates better continuity of the near-surface
mineralization over a thicker interval; this could potentially lead to a growth upside toward the exploration
target and toward a potential resource estimate. Follow-up drilling is being planned to further test
continuity and grade of the CA1 zone.
Drillhole W225-11 was designed to infill and to validate historical drill holes, which duplicated holes
54002-0 drilled by Inco (noting with small adjustment in the azimuth and dip, allowing better definition of
the true width). Also, historical Inco holes at CA2 zone were selectively sampled as well (Figure 3), which
left largely the possibility for more positive results. Geochemically, copper, nickel, cobalt and PGEs
seem to be correlated well over wide intercepts, while gold seems more erratic, even though Gold is
present at lower grade in most of the drill holes. Further drilling in this area will be followed to confirm and
to try to build a larger mineralized system.
Figure 1: Plan Map showing CA1 and CA2 Zones along with drill hole locations for W225-10 and W225-
11.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/253464_4b99ca4dc4811bac_002full.jpg
Figure 2: Cross section of drill hole W225-10, confirming and expanding the potential of the CA1 Zone.
Refer to [1] below for historical drillholes data.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/253464_4b99ca4dc4811bac_003full.jpg
Figure 3: Cross section of drill hole W225-11, also confirming and expanding the potential of the CA2
Zone. Refer to [1] below for historical drillholes data.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/253464_4b99ca4dc4811bac_004full.jpg
High-grade individual commodity intersections within drill Hole W225-10 include:
1.50% Copper over 0.68 m
from 243.32 m to 244.00 m
0.55% Nickel over 0.82 m
from 242.50 m to 243.32 m
5.59 g/t Gold over 1.00 m
from 205.00 m to 206.00 m
0.66 g/t Platinum over 1.00 m
from 141.00 m to 142.00 m
0.57 g/t Palladium over 0.82 m
from 242.50 m to 243.32 m
High-grade individual commodity intersections within drill Hole W225-11 include:
1.81% Copper over 0.53 m
from 42.47 m to 43.00m
1.48% Nickel over 0.98 m
from 38.82 m to 39.80 m
0.22 g/t Gold over 1.00 m
from 33.00 m to 34.00 m
0.59 g/t Palladium over 0.98 m
from 38.82 m to 39.80 m
0.54 g/t Platinum over 0.98 m
from 38.82 m to 39.80 m
Table 2: Drill Hole Collar Information Datum used in UTM NAD83 Z16N.
DRILL OLE
Easting
Northing
Elev (m)
Azimuth
Dip
Length (m)
W225-10
460077
5813378
251
180
-55
272.00
W225-11
462430
5812573
244
200
-56
123.50
[1] Data from historical drillhole were referred from a NI 43-101 report titled "NI 43-101 Updated
Technical Report on the W2 Copper-Nickel-PGE Property" authored by I.A. Osmani et al., effective on
September 4
th
, 2024.
QAQC:
Samples (NQ core diameter = 4.76 cm) were cut using a diamond blade saw, inserted into labeled
bags, and delivered by representatives of PTX to Activation Laboratories Ltd. in Thunder Bay, Ontario.
Activation Laboratories Ltd. is an ISO 17025:2005 accredited testing laboratory.
Samples were analyzed for Au, Pt, and Pd using the lead fire-assay 1C-OES package, and multi-
element analysis was completed by near-total digestion (four-acid) with an ICP-OES finish (1F2
package).
For over-range samples (Cu, Ni) over 1% Cu or Nickel, the 8-4 Acid Near Total ICP-OES
method was utilized.
PTX inserted standards and blanks and performs duplicate analysis as part of its QA/QC program.
Activation Laboratories also performs an internal QA/QC program which includes the insertion of CRM's,
blanks, sample repeats, and duplicate samples.
Qualified Person:
The technical information of the drilling program presented in this news release has been reviewed and
approved by Joerg Kleinboeck, P.Geo. The technical information presented in this news release has
been reviewed and approved by Joerg Kleinboeck, P. Geo., a non-independent qualified person, and
Shuda Zhou, P.Geo., and independent qualified person to PTX Metals who are responsible for ensuring
that the related technical information provided in this news release is accurate and who act as a
"qualified persons" (QP's) 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 strategic metals assets in northern
Ontario, allowing exposure for shareholders to Copper, Gold, Nickel, and PGEs discovery. The Province
of Ontario is renowned as a first-class mining jurisdiction for its abundance of mineral resources and
safe jurisdiction.
Our corporate objective is to advance our assets, and unveil the potential of two Flagship Projects, the
W2 Cu-Ni-PGE located in the strategic Ring of Fire region, and the Shining Tree Gold Project neighbor
to multi-million ounces gold deposits in the Timmins Gold Camp.
PTX's portfolio of assets was strategically acquired for their geologically favorable attributes, and
proximity to established mining companies.
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 9PX 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:
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/253464