PTX Metals Inc. Reports Additional Wide Mineralized near Surface Results at Its W2 Cu-Ni-PGE and Gold Project

Rhea-AI Summary

PTX Metals Inc. (PANXF) has reported significant drill results from hole W225-09 at its W2 Cu-Ni-PGE and Gold Project in Ontario. The hole intersected substantial mineralization, including 49.16m of sulphide mineralization with 0.45% Cu+Ni and 0.21 g/t Au+Pt+Pd. Notable high-grade intervals include 30.00m of 0.59% Cu+Ni and 0.26 g/t Au+Pt+Pd, and 7.50m grading 1.05% Cu+Ni and 0.29 g/t Au+Pt+Pd. The drilling results validate a significant portion of the 2024 Exploration Target, which ranges from 59 million to 135 million tonnes of PGEs. The company's systematic assaying approach has revealed improved PGE mineralization in both CA1 and CA2 zones, with mineralization remaining open at depth and along strike.

Positive

• Wide mineralization intervals discovered with 49.16m of sulphide mineralization hosting copper, nickel, gold, palladium and platinum
• High-grade sections including 7.50m grading 1.05% Cu+Ni and 0.29 g/t Au+Pt+Pd
• Results validate significant portion of 2024 Exploration Target (59-135M tonnes of PGEs)
• Systematic assaying revealed improved PGE mineralization in both CA1 and CA2 zones
• Mineralization remains open at depth and along strike, indicating expansion potential

Negative

• Results are still part of exploration phase, not yet a defined mineral resource
• True widths of mineralization are unknown at this time
• Metallurgical processing options still need to be investigated for potential recoveries

Toronto, Ontario--(Newsfile Corp. - June 17, 2025) - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company"), a mineral exploration company focused on Cu-Ni-Au-PGE and Gold projects in Ontario, is pleased to release additional assay results from drill hole W225-09 from its Phase 1 drilling program of 2025 at the W2 Copper Nickel PGEs (Platinum Group Elements) and Gold Project located near the Ring of Fire, northwestern Ontario, Canada (the "W2 Project"). Those additional results follow up the previous releases of May 27th and June 3rd, 2025.

The reported drill hole W225-09 intersected sulphide mineralization hosting copper, nickel, gold, palladium and platinum over a core length of 49.16m, including higher-grade intervals of 30.00m of 0.59% Cu+Ni and 0.26 g/t Au+Pt+Pd from 46.00 to 76.00m, and 7.50m grading 1.05% Cu+Ni and 0.29 g/t Au+Pt+Pd from 50.00m to 57.50m (see Table 1).

This hole, located in the CA1 zone of the Central Target, was drilled 246m east of drill hole W225-08 and 284m southwest of W225-10. Both of those previously released holes intersected wide sulfide mineralized zones, for which hole W225-10 reported the widest interval to date with up to 235.14m of mineralized core length directly below the overburden (Figure 1 & 2). With this wide-spacing design, the Company effectively and successfully verified nearby historical drilling data, which supports and validates a significant portion of the Exploration Target from 2024 leaving opportunity for expansion along strike and at depth.

Additionally, as PTX has sampled and assayed for PGEs and gold more consistently throughout the entire holes, it was observed that in addition to the wide-spread copper-nickel mineralization, there was a significant improvement of PGE mineralization in both CA1 and CA2 zones. This discovery made in this year's drilling program is value-added to the Exploration Target, for which PGEs were previously estimated ranging from 59 million to 135 million tonnes of PGEs (Pd+Pt+Au) with an average grade estimate of Palladium between 0.40 g/t to 0.28 g/t, Platinum between 0.13 g/t to 0.11 g/t and gold between 0.10 g/t to 0.07 g/t Au (using 0.7%-0.5% CuEq cut-off) [1]. The Company will follow up with plans to keep growing confidence in the overall mineralized block and expand it at depth and along strike as all data suggests that mineralization remains open.

Highlights - Drill hole W225-09:

• Drill hole W225-09, a shallow hole drilled to a depth of 119.00 m, intersected sulphide mineralization including 30.00m of 0.59% Cu+Ni and 0.26 g/t Au+Pt+Pd from 46.00 to 76.00m and 7.50m of 1.05% Cu+Ni and 0.29 g/t Au+Pt+Pd from 50.00m to 57.50m within an overall core length of 49.16 m grading 0.45% Cu+Ni, and 0.21 g/t Au+Pt+Pd which included numerous higher-grade intervals that returned above 1% Cu+Ni.

  • 1.50 m of 2.15% Cu+Ni and 0.49 g/t Au+Pt+Pd from 50.00 to 51.50 m 

  • 0.58 m of 3.50% Cu+Ni and 0.65 g/t Au+Pt+Pd from 55.50 to 56.08 m 

  • 1.05 m of 1.07% Cu+Ni and 1.01 g/t Au+Pt+Pd from 63.00 to 64.05 m

• High-grade individual commodity intersections within drill Hole W225-09 include: 

  • 3.31% Copper over 0.58 m from 55.50 m to 56.08 m 

  • 0.54% Nickel over 0.76 m from 50.00 m to 50.76 m 

  • 0.29 g/t Gold over 0.95 m from 64.05 m to 65.00 m

  • 0.39 g/t Platinum over 0.55 m from 63.50 m to 64.05 m 

  • 1.10 g/t Palladium over 0.50 m from 63.00 m to 63.50 m 

  • 0.09 % Cobalt over 0.76 m from 50.00 m to 50.76 m

Table 1: Selected composite results from drill hole W225-09. Intervals reported as core lengths. True widths are unknown at this time.

	From (m)	To (m)	Length (m)	Cu (%)	Ni (%)	Cu+Ni (%)	Au (g/t)	Pt (g/t)	Pd (g/t)	Au+Pt+Pd (g/t)
W225-09	30.84	80.00	49.16	0.35	0.10	0.45	0.05	0.08	0.08	0.21
incl.	40.00	43.00	3.00	0.30	0.15	0.45	0.03	0.08	0.10	0.21
incl.	46.00	76.00	30.00	0.48	0.11	0.59	0.07	0.09	0.10	0.26
incl.	50.00	73.00	23.00	0.54	0.12	0.66	0.08	0.10	0.11	0.29
incl.	50.00	65.00	15.00	0.66	0.13	0.79	0.09	0.09	0.13	0.31
incl.	50.00	57.50	7.50	0.90	0.15	1.05	0.07	0.10	0.12	0.29
incl.	50.00	51.50	1.50	1.84	0.31	2.15	0.13	0.19	0.17	0.49
incl.	55.50	56.08	0.58	3.31	0.19	3.50	0.18	0.21	0.26	0.65
incl.	58.00	60.00	2.00	0.62	0.08	0.70	0.16	0.07	0.07	0.30
incl.	63.00	64.05	1.05	0.69	0.38	1.07	0.11	0.23	0.67	1.01
incl.	63.00	63.50	0.50	0.64	0.36	1.00	0.13	0.05	1.10	1.28
incl.	63.50	64.05	0.55	0.72	0.39	1.11	0.10	0.39	0.29	0.78
incl.	64.05	65.00	0.95	0.54	0.08	0.62	0.29	0.10	0.07	0.46

 

Historical drilling was selective in assaying for all commodities and selective sampling procedures occurred. As a result, the Company has systematically assayed for Copper, Nickel, Gold, Palladium, Platinum and Cobalt and is now not reporting using Metal Equivalents and seen substantial improvements in the widths of mineralization with these practices. Additionally, for simplification purposes, Cu+Ni (%) and Au+Pt+Pd (g/t) are reported below as the arithmetic sum of individual commodity per interval chosen. Individual grades by commodity are also shown in table 1.

Figures:

Figure 1: Plan Map showing CA1 and CA2 Zones along with PTX 2025 drill hole locations. Drill hole collar information of W225-09 is detailed in Table 2. Background is the reduced-to-pole total magnetic intensity (RTPTMI) derivative from the most recent Heli-GT 2025 magnetic survey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/255729_c22c3b589463196c_060full.jpg

Figure 2: 3D view to the east of PTX drill holes within the CA1 zone. Background is the reduced-to-pole total magnetic intensity (RTPTMI) derivative from the most recent Heli-GT 2025 magnetic survey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/255729_c22c3b589463196c_061full.jpg

Figure 3: Picture of core of hole W225-12, representative of style of mineralization found at the project, from disseminated to semi-massive to massive suphide zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7277/255729_c22c3b589463196c_062full.jpg

Table 2: Drill Hole Collar Information Datum used in UTM NAD83 Z16N. 

DRILL HOLE	Easting	Northing	Elev (m)	Azimuth	Dip	Length (m)
W225-09	459,941	5,813,126	254	180	-50	119

 

[1] Data from historical drill hole 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 4th, 2024. The exploration target modeling work followed the guidelines set forth in National Instrument 43-101, Section 14 resource estimate. The potential grade and tonnage of the exploration target model is conceptual in nature, and more work and information, including drilling, are required before fulfilling CIM (Canadian Institute of Mining, Metallurgy, and Petroleum) requirements for the disclosure of an eventual mineral resource. At this stage, it is uncertain if further exploration will result in the Exploration Target being delineated as a Mineral Resource. In addition, important aspects such as metallurgical processing options need to be investigated to evaluate potential recoveries in the mineralized zones. The basis of the potential quantity and grade in the Exploration Target has been determined in the technical report based on the current and historical drilling.

QAQC:

Samples (NQ core diameter = 4.76 cm) were cut using a diamond blade saw, inserted into labeled bags, and delivered by representatives of PTX to Activation Laboratories Ltd. in Thunder Bay, Ontario. Activation Laboratories Ltd. is an ISO 17025:2005 accredited testing laboratory.

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.

PTX inserted standards and blanks and performs duplicate analysis as part of its QA/QC program. Activation Laboratories also performs an internal QA/QC program which includes the insertion of CRM's, blanks, sample repeats, and duplicate samples.

Qualified Person:

The technical information presented in this news release has been reviewed and approved by Joerg Kleinboeck, P. Geo., a non-independent qualified person to PTX Metals who is responsible for ensuring that the related technical information provided in this news release is accurate and who act as a "qualified person" (QP) as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About PTX Metals Inc.:

PTX is a mineral exploration company focused on high-quality strategic metals assets in northern Ontario, allowing exposure for shareholders to Copper, Gold, Nickel, and PGEs discovery. The Province of Ontario is renowned as a first-class mining jurisdiction for its abundance of mineral resources and safe jurisdiction.

Our corporate objective is to advance our assets, and unveil the potential of two Flagship Projects, the W2 Cu-Ni-PGE located in the strategic Ring of Fire region, and the Shining Tree Gold Project neighbor to multi-million ounces gold deposits in the Timmins Gold Camp.

PTX's portfolio of assets was strategically acquired for their geologically favorable 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 9PF 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
Phone: +1 (416) 270-5042
Email: gferron@ptxmetals.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255729

FAQ

What were the key findings from PTX Metals' (PANXF) W225-09 drill results?

The drill hole W225-09 intersected 49.16m of sulphide mineralization with 0.45% Cu+Ni and 0.21 g/t Au+Pt+Pd, including high-grade intervals of 30.00m at 0.59% Cu+Ni and 7.50m at 1.05% Cu+Ni.

What is the size of PTX Metals' W2 Project Exploration Target?

The Exploration Target ranges from 59 million to 135 million tonnes of PGEs with estimated grades of 0.28-0.40 g/t Palladium, 0.11-0.13 g/t Platinum, and 0.07-0.10 g/t Gold.

Where is PTX Metals' W2 Copper Nickel PGE Project located?

The W2 Project is located near the Ring of Fire in northwestern Ontario, Canada.

What are the highest grade intersections reported in hole W225-09?

The highest grades include 3.31% Copper over 0.58m, 0.54% Nickel over 0.76m, and 1.10 g/t Palladium over 0.50m.

What is the current status of PTX Metals' W2 Project resource estimation?

The project is still in exploration phase with an Exploration Target defined, but requires more work and information before it can be classified as a Mineral Resource under CIM requirements.