PTX Metals (TSXV: PTX; Frankfurt: 9PX) reports new results from the 3D inversion of a magnetics survey conducted in 2025 for its W2 Cu-Ni-PGE project in Ontario. The evaluation provides additional insights into the behavior of the targeted gabbroic horizons at the surface and at depth, strengthens confidence in drill target acquisition, and provides indications of a possible expansion of the targets. At the same time, PTX Metals is pushing ahead with a drilling program and metallurgical studies. Further tailwind comes from a current agreement between the Province of Ontario and the Webequie First Nation to accelerate road and infrastructure projects in the Ring of Fire.
PTX Metals: 3d Inversion Sharpens Target Model on the W2 Project
The 3D models show a magnetic anomaly that correlates with the mapped magnetic gabbro and is interpreted as an indication of a magmatic source rock geometry. Earlier in the year, PTX Metals presented an initial geological interpretation, according to which a preferred, folded horizon can be traced over a strike length of around 8 kilometers. According to the company, tectonic elements such as thrust faults and faults lead to imbrications and thus to stacked mineralized sections – especially in the CA zones; the AP zones also show corresponding structural influences.
The new 3D inversion confirms this pattern and indicates several north-south imbrications that could favor the formation of near-surface, large-volume targets. In cross-section A – 460500E (CA1), the stacked zone accordingly reaches a potential width of up to 1,850 meters and continues into the depth. Along the trend, there are similarities between CA1 and CA2, with differences in thickness, dip and orientation depending on the structural stress field. Overall, the interpretation focuses on a mineralized horizon within the gabbro and on sections with a tendency towards higher grades at the contacts to metavolcanic units.
Data Basis, Model Limits and Next Work Steps
The magnetics data was processed by an independent geophysicist. The survey was flown with north-south profiles at intervals of 75 meters and an average flight altitude of 34 meters above ground. Further data sets were incorporated into the compilation, including EM (Electromagnetics) measurements, which were used in 2024 to derive Maxwell plates for conductor zones.
In addition to geophysics, PTX Metals is running a drilling program, metallurgical tests, a paragenesis study on the sequence of ore formation phases and age dating of the relevant gabbroic horizons. In October 2025, a LiDAR survey was also flown by KBM Resources Group. The results – detailed elevation model and orthophoto – are expected in early January 2026 and are intended to support resource modeling and the precise location of historical work. PTX Metals announces a separate announcement on the scope and objectives of the ongoing drilling program.
Infrastructure and Location: Ontario and Webequie First Nation Agree on Expansion
The W2 project is located on the western edge of the Ring of Fire, a resource-rich region in northern Ontario. On October 29, 2025, the province announced an agreement with the Webequie First Nation to fund local priorities, infrastructure upgrades and accelerated planning and construction of roads – including the proposed all-season Webequie Supply Road to the Ring of Fire. The funds will support, among other things, studies on the relocation of existing winter roads and the connection to the Pickle Lake Corridor, which extends near the western border of the W2 area. For project owners and stakeholders on site, the expansion of reliable logistics routes can facilitate the implementation of technical programs, supply chains and future development phases.
Significance for PTX Metals and the W2 Portfolio
With the current 3D inversion, PTX Metals is gaining additional structural and target information for copper-nickel and PGE mineralization (platinum, palladium, gold). The combination of geophysical modeling, ongoing drilling and laboratory evaluations is intended to refine the geological understanding and underpin further targeting. At the same time, the infrastructural framework – subject to approvals, environmental assessments and municipal coordination – creates potential prerequisites for more efficient field work in a region with challenging accessibility.
Conclusion: PTX Metals is combining new geophysical findings on the W2 project with operational measures in the field and observations on regional infrastructure development. The upcoming LiDAR results and the announced detailed announcement on the drilling program will provide further cornerstones as the company continues its work in the hunt for copper, nickel and platinum group elements in the Ring of Fire as planned.
