PTX Metals Inc. Step-Out Drill Hole Intercepts 213 Combined Meters of Mineralization and Ends in Higher Grade Zone at Depth at Its W2 Copper-Nickel-PGE and Gold Project
PTX Metals Inc. Step-Out Drill Hole Intercepts
213 Combined Meters of Mineralization and
Ends in Higher Grade Zone at Depth at Its W2
Copper-Nickel-PGE and Gold Project
Toronto, Ontario--(Newsfile Corp. - March 10, 2026) -
PTX Metals Inc. (TSXV: PTX) (OTCQB:
PANXF) (FSE: 9PX)
("
PTX
" or the "
Company
") is pleased to announce assay results from the initial
phase of its 5,000m drilling program previously announced in November 2025 at its W2 Copper, Nickel,
Platinum-Palladium (PGE) and Gold project in Northern Ontario, Canada (the "
W2 Project
").
Initial results from the program confirm the presence of significant copper-nickel-PGE mineralization
within the CA1 zone and continue to expand the known footprint of the system within the Central Target
area.
Drill holes targeted the CA1 zone, which to date is the most drilled and advanced zone located on the
western end of the 8km strike length mineral host horizon within the Central Target. These initial drill
holes were planned as step-outs and were designed to test the continuity of the geophysical anomalies
to the north of the previously drilled W225-10 in March 2025, which intercepted over 235 metres (m) of
near surface mineralization. With hole W225-13, the Company has extended the footprint of the CA1
zone, which now covers a block of ~1km x 1.2km as shown in Figure 2.
W225-13 was drilled to a depth of 405.80m, intersecting a mineralized zone of combined
213.85m
and
terminated in mineralization with an intercept of
15.80m at 0.97% CuEq [1]
from 390.00 to 405.80 m
,
including 3.24% CuEq over 0.75m
. At shallower depths, two wider intercepts returned
107.15m at
0.28% CuEq
from 173.00m to 280.15m and
68.30m at 0.46% CuEq
from 311.00m to 379.30m.
Copper Equivalency are reported assuming 80% recovery for all metals as stated below in [1].
Mineralization in this hole is similar in style to intercepts observed in W225-10. Correlation between
holes W225-10 and W225-13 illustrates potential for the mineralized horizon(s) to be expanded at depth
and to surface, as supported by geophysical anomalies in figure 1.
Figure 1: 3D section of hole W225-13 overlaying results from the 3D inversion reported on November
7
th
, 2025.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/287864_a244ad912434496f_001full.jpg
PTX's extensive data compilation and interpretation of the Central Target has
generated a new
geological model, highlighting a strong correlation between magnetic and electromagnetic anomalies
substantiated by previous drilling results. Additional mineralized targets have been identified where
previous work has delineated coincident magnetic and electromagnetic anomalies, increasing
confidence in step-out drilling for expanding known mineralization within
the Central Target and expand
knowledge regionally.
The program started with step-out holes within the CA1 zone that demonstrated extension of
mineralization to the north, which will be followed up by infill drilling toward the well defined Central area
and further step out drilling to the south where geophysical signatures are the most prominent. The
company is using a step by step approach to confirm, expand and consolidate the deposit. The new
geological model will also lead to selectively targeting high grade zones.
Highlights - Drill Hole W225-13
Intercepted a combined 213.85m of mineralization within the entire hole.
Hole ends in mineralization, intersecting 0.97% CuEq over 15.80m including:
0.90% Cu, 0.22% Ni, 0.48 g/t 3E (Au + Pt + Pd) over 7.00m
, equaling
1.38% CuEq
from
393.00m to 400.00m.
Two wider intercepts of
107.15m at 0.28% CuEq
from 173.00m to 280.15m and
68.30m at
0.46% CuEq
from 311.00m to 379.30m. Both intercepts demonstrate repetitiveness and
consistency in grade throughout the section, such as:
1.04% Cu, 0.08% Ni, 0.74 g/t 3E over 4.00m
, equaling
1.45% CuEq
from 311.00m to
315.00m.
0.63% Cu, 0.10% Ni, 0.13 g/t 3E over 2.50m
, equaling
0.78% CuEq
from 329.00m to
331.50m.
0.53% Cu, 0.15% Ni, 0.19 g/t 3E over 4.75m
, equaling
0.83% CuEq
from 347.00m to
351.75m.
0.60% Cu, 0.11% Ni, 0.09 g/t 3E over 4.00m
, equaling
0.74% CuEq
from 360.00m to
364.00m.
Intercepts correlate well with geophysical results, leading to improvements in
targeting of the
sulfide mineralization.
Greg Ferron, President and CEO of PTX Metals, stated:
"We are pleased to see the potential expansion to the north of the CA1 zone (one of three well defined
zones), which adds to the already-known significant tonnage of the Exploration Target. The 200-meter
intercept ending in mineralization of 0.90% copper over 7.00 metres , supports the scale of the system
we are seeing at W2 and reinforces our updated geological model."
"These results give us confidence as we continue expanding known mineralized zones and identifying
additional exploration targets across the Central Area and the broader property. Northern Ontario is also
seeing growing momentum around critical minerals development, with increasing attention on projects
that can support future supply chains for copper, nickel and PGEs. As that landscape continues to
evolve, we believe W2 is well positioned within this emerging district."
HOLES
From (m)
To (m)
Length (m)
Cu %
Ni %
Cu + Ni
%
Au g/t
Pt g/t
Pd g/t
Au + Pt +
Pd g/t
CuEq%
[1]
W225-13
173.00
280.15
107.15
0.09
0.08
0.17
0.02
0.05
0.09
0.15
0.28
incl
194.00
196.00
2.00
0.56
0.11
0.67
0.09
0.06
0.15
0.30
0.79
incl
215.00
218.00
3.00
0.25
0.19
0.45
0.03
0.07
0.16
0.26
0.67
incl
225.00
227.00
2.00
0.27
0.17
0.44
0.01
0.11
0.18
0.29
0.65
311.00
379.30
68.30
0.29
0.08
0.37
0.06
0.03
0.03
0.12
0.46
incl
311.00
315.00
4.00
1.04
0.08
1.12
0.68
0.03
0.03
0.74
1.45
incl
329.00
331.50
2.50
0.63
0.10
0.73
0.08
0.01
0.04
0.13
0.78
incl
341.00
342.00
1.00
0.58
0.11
0.69
0.01
0.06
0.04
0.11
0.74
incl
347.00
351.75
4.75
0.53
0.15
0.68
0.06
0.06
0.07
0.19
0.83
incl
360.00
364.00
4.00
0.60
0.11
0.71
0.01
0.04
0.04
0.09
0.74
incl
377.00
379.30
2.30
0.35
0.17
0.52
0.01
0.03
0.09
0.13
0.67
390.00
405.80
15.80
0.60
0.15
0.75
0.20
0.09
0.10
0.40
0.97
incl
393.00
400.00
7.00
0.90
0.22
1.12
0.27
0.10
0.11
0.48
1.38
incl
403.00
405.00
2.00
0.51
0.07
0.59
0.32
0.13
0.11
0.56
0.83
53.50
69.50
16.00
0.04
0.04
0.07
0.01
0.05
0.08
0.15
0.16
165.85
166.40
0.55
0.93
0.11
1.04
0.07
0.01
0.03
0.11
1.04
286.00
292.05
6.05
0.35
0.02
0.37
0.13
0.02
0.01
0.16
0.41
Table 1: Selected Results from drill holes W225-13. Intervals reported as core lengths. True widths
are unknown at this time. All calculation for Copper Equivalent are reported below in notes, assuming
metallurgical results of 80% for all metals.
Figure 2: Map view of the CA1 zone and location of the 3D section for Figure 2. Background is the TMI
results from the 2025 magnetic survey ("Mag Survey").
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/287864_a244ad912434496f_002full.jpg
High-grade individual commodity intersections within drill Hole W225-13 include:
✓
2.79% Copper over 0.75m
from 395.20m to 395.95m
✓
0.41% Nickel over 0.50m
from 394.70m to 395.20m
✓
1.47 g/t Gold over 1.50m
from 311.00m to 312.50m
✓
0.20 g/t Platinum over 0.50m
from 394.70m to 395.20m
✓
0.33 g/t Palladium over 0.50m
from 215.50m to 216.00m
DRILL HOLE
Easting
Northing
Elev (m)
Azimuth
Dip
Length (m)
W225-13
460049
5813661
252
190
-55
405.80
Table 2: Drill Hole Collar Information Datum used in UTM NAD83 Z16N.
[1] Copper Equivalent (CuEq) within this news release for drill intercepts is calculated on the basis of the previously filed PTX 43-101 from
September 2024, using pricing of US$ 3.82/lb for Copper, US$ 8.45/lbs for Nickel, US$ 2,016/oz for Gold, US$ 957/oz for Platinum, US$ 1,138/oz for
Palladium and US$ 13.97/lbs for Cobalt, with metallurgical recoveries of 80% assumed for all metals. While the principal product mix has not yet been
determined, PTX has completed preliminary metallurgical work and results support these recovery assumptions for Copper Equivalency reporting.
[2] Data from historical drillhole and Exploration Target 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.
Ongoing Work:
The Company has been advancing the project and is currently expecting for Q2 2026:
-
Results from additional drill holes.
-
Completion of Paragenesis study initial technical interpretation of the mineralized system.
-
Metallurgical flowsheet development work is advancing at SGS Lakefield to assess recovery and
concentrate quality.
-
Contract metallurgist hired to support ongoing
project activities
Quality Assurance/Quality Control (QA/QC):
All samples were shipped to and analyzed by SGS Labs in Sudbury Ontario, an accredited testing
laboratory ISO 17025:2005. SGS performed an internal QA/QC program which includes the insertion of
certified reference material (CRM), blanks, sample repeats, and duplicate samples as is compliant with
industry standards. Additionally, PTX performed its own internal QAQC procedures including insertion of
CRM every ~50 samples, blanks at a rate of approximately every ~50 samples and a field duplicate
(split of the original half-core sample) every 50 samples. Additional standards and/or blanks were
inserted immediately after high-sulfide areas. All QA/QC control samples returned values within
acceptable limits.
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.
Qualified Person:
The technical information presented in this news release has been reviewed and approved by Kyle
Pedersen, P.Geo, an independent Qualified Person to PTX Metals, who is responsible for the technical
information contained in this news release
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 proudly Canadian mineral exploration company focused on high-quality strategic metals assets
in northern Ontario, allowing exposure for shareholders to copper, gold, nickel, and platinum group
element (PGE) discoveries. The Province of Ontario is a renowned mining jurisdiction for its abundance
of critical mineral resources and stable regulatory environment.
Our corporate objective is to advance our assets, and unlock the potential of two flagship projects, the
W2 Cu-Ni-PGE located close to existing winter road infrastructure at the gateway to the strategic Ring of
Fire region, and the Shining Tree Gold Project, neighbouring other known deposits in the Timmins Gold
Camp.
PTX's portfolio of assets was strategically acquired for their geologically favourable 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.F 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
1-(416)-270-5042
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.
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