PTX Metals Inc. reports exploration, project and financing developments for a Canadian mineral exploration business focused on Northern Ontario. Company news centers on the W2 copper-nickel-PGE and gold project in the Ring of Fire area and the Shining Tree Gold Project in the Timmins Gold Camp, including drill results, geophysical and structural studies, target generation and follow-up exploration planning.
PTX updates also cover capital actions tied to exploration funding, including non-brokered private placements of flow-through shares, hard-dollar units and warrants. Corporate items include exchange listings, capital-structure changes and ownership updates involving Green Canada Corporation.
Platinex Inc (OTCPink:PANXF) has announced a joint venture with Fancamp Exploration to develop gold mineral properties in Ontario's Timmins mining camp. The agreement involves transferring Platinex's Shining Tree properties, comprising 1,138 mining claims, into a new entity called Goldco, where Platinex will hold 75%. Fancamp will contribute its Heenan Mallard and Dorothy gold properties for a 25% stake. Platinex is set to raise up to $2.5 million through a non-brokered private placement. The initial exploration program will total $1.1 million, with Fancamp able to increase its interest to 50% over two years.