Desired Successes Materialize
PTX Metals (CSE: PTX, FSE: 9PX, WKN: A0MVNG) has achieved a remarkable exploration success on the W2 project outside of the existing deposits and recently acquired claims, as they managed to significantly expand the mineralized trend beyond the W2 deposit.
On the W2 project, located in the northwest of the Canadian province of Ontario, in addition to the battery metals copper and nickel, elements of the platinum group are primarily encountered. The new drill holes that PTX Metals has sunk here included both geophysical targets and new targets identified based on internal geological and geophysical interpretations.
The new drilling was designed to test the expansion potential of the near-surface W2 mineralization trend as well as an associated geophysical EM trend. The W2 mineralization trend is currently based on 84 historical drill holes that were sunk by previous owners over a length of about seven kilometers.
The drill holes W224-01 to W224-03 and drill hole W224-07 were particularly aimed at new, previously unknown deposits. They were sunk at a distance of up to 28 kilometers from the CA zones. Drill holes W224-04 to -06 were drilled to infill and confirm the mineralization and will be reported separately.
The New Drilling Increases Geological Confidence in the Continuity of the Mineralized Zones
W224-03 is an exploration drill hole that has extended the central mineralized trend by more than three kilometers from the center of the Aurora Platinum (AP Zone). The drill hole shows excellent potential for the discovery of new mineralized zones along the contact of the gabbroic intrusion in areas that have been only limitedly explored in the past.
It intersected three distinct mineralized zones with a total length of 136.76 meters. They begin at a depth of 54.24 meters and contain a section with 0.47% copper equivalent over a length of 88.76 meters. It starts at a depth of 54.24 meters and is within a broader zone with 0.41% copper equivalent, which extends over a total length of 112.76 meters.
This zone reaches its strongest mineralization from 133.0 meters. Here, 10.0 meters with an average of 0.97% copper equivalent are encountered. From a depth of 137.50 meters, the metal content even increases to 1.65% copper equivalent over a length of 4.50 meters. At a depth of 188.0 meters, another 24.0-meter section begins with an average copper equivalent mineralization of 0.52%.
The Desired Successes Materialize
The three confirmation drill holes W224-04, W224-05, and W224-06 brought the desired success, as they confirmed near-surface copper-nickel and platinum group mineralization over a length of more than seven kilometers.
Drill hole W224-07, on the other hand, was a step-out hole. It was sunk 500 meters away from the historical drill holes and designed to test the geophysical targets between the CA zones. During drilling, several wide mineralized zones with a total length of 130.84 meters were intersected, significantly expanding the mineralization of the CA zone.
Currently, the two CA zones have a strike length of approximately 2.5 kilometers, and there is potential to connect both zones into a larger contiguous mineralized zone.
Greg Ferron, CEO and President of PTX Metals Inc., was delighted with the new successes and pointed out in his commentary on the drilling results that there is now potential to expand or identify new copper, nickel, platinum group deposits within the large claim package.
