PTX Metals significantly expands mineralised trend at W2 project

At the W2 project, 100% owned by PTX Metals (CSE: PTX, FSE: 9PX, WKN: A0MVNG), the company has scored a significant exploration hit outside the existing deposits and the recently acquired claims, as it has succeeded in significantly expanding the mineralised trend outside the W2 deposit.

In addition to the battery metals copper and nickel, the W2 project, located in the north-west of the Canadian province of Ontario, primarily contains elements of the platinum group. The new holes drilled by PTX Metals included both geophysical targets and new targets identified from internal geological and geophysical interpretations.

The new drilling was designed to test the expansion potential of the near-surface W2 mineralisation trend and an associated EM geophysical trend. The W2 mineralisation trend is currently based on 84 historical drill holes drilled over a length of approximately seven kilometres by previous owners.

Drill holes W224-01 to W224-03 and W224-07, which were drilled up to 28 kilometres from the CA zones, targeted new, previously unknown deposits. Holes W224-04 to -06 were drilled to infill and confirm mineralisation and will be reported separately.

The new holes increase geological confidence in the continuity of the mineralised zones

W224-03 is an exploration hole that has extended the central mineralised trend by more than three kilometres from the centre of the Aurora Platinum (AP Zone). The hole shows excellent potential for the discovery of new mineralised zones along the contact of the gabbroic intrusion in areas that have seen limited exploration in the past.

It intersected three distinct mineralised zones with a total length of 136.76 metres. They start at a depth of 54.24 metres and contain an intercept of 0.47% copper equivalent over a length of 88.76 metres. It starts at a depth of 54.24 metres and lies within a broader zone of 0.41% copper equivalent over a total length of 112.76 metres.

This zone reaches its strongest mineralisation from 133.0 metres. Here, 10.0 metres with an average of 0.97% copper equivalent are encountered. From a depth of 137.50 metres, the metal content even increases to 1.65% copper equivalent over a length of 4.50 metres. At a depth of 188.0 metres, another 24.0 metres long section begins with an average copper equivalent mineralisation of 0.52%.

The desired success materialises

The three holes W224-04, W224-05 and W224-06, which were drilled for confirmation, brought the desired success, as they confirmed near-surface copper-nickel and platinum group mineralisation over a length of more than seven kilometres.

Drill hole W224-07, on the other hand, was a step-out hole. It was drilled 500 metres from the historical holes and was designed to test the geophysical targets between the CA zones. Several broad mineralised zones totalling 130.84 metres were intersected during drilling, allowing the CA zone mineralisation to be significantly expanded.

Currently, the two CA zones have a strike length of approximately 2.5 kilometres and there is potential to link the two zones into a larger contiguous mineralised zone.

Greg Ferron, CEO and President of PTX Metals was very pleased with the new successes and in commenting on the drill results indicated that there is now the potential to expand or identify new copper, nickel, platinum group deposits within the large claim package.