PTX Metals Resumes Drilling at W2 Copper-Nickel-PGE Project in the Ring of Fire; Announces Marketing Program
PTX advances drilling and outreach at W2 while launching a short-term investor marketing program with cash and option-based compensation.
Rhea-AI Summary
PTX Metals (PANXF) has resumed a 5,000 metre diamond drilling program at its W2 Copper‑Nickel‑PGE project in northwestern Ontario, focusing on the CA1 Zone.
Concurrent soil sampling and prospecting are underway across the Central area and additional target zones, with results to refine future drilling targets and the evolving geological model. The current work is covered by an extended exploration permit, which the company says provides regulatory certainty following a Crown consultation process. PTX highlights ongoing participation of First Nation businesses and community members in field programs and has a signed letter of intent with one community to outline communication and opportunities.
PTX also entered a four‑month investor outreach agreement with DK Capital Partners, involving a CAD $18,500 cash fee and 200,000 stock options at $0.11 per share for three years, subject to TSX Venture Exchange approval.
Positive
- 5,000 metre diamond drilling program recommenced at W2 CA1 Zone
- Concurrent soil sampling and prospecting to refine future W2 drill targets
- Extended exploration permit provides regulatory certainty for current work
- Four-month investor outreach agreement to target advisors and accredited investors
- First Nation businesses and community members engaged in multiple W2 field programs
Negative
- Cash marketing fee of CAD $18,500 over four months
- Grant of 200,000 stock options at $0.11 per share adds potential dilution
- Marketing engagement and option grant remain subject to TSX Venture Exchange approval
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights:
- After a pause in exploration activity while engaging First Nations, a 5,000 metre diamond drilling program at W2 has recommenced, focusing on the CA1 Zone.
- Concurrent soil sampling and prospecting programs are also underway to refine existing targets and help identify additional prospects.
- First Nation businesses and community members continue to participate directly in W2 field programs, providing employment, local procurement and community support.
- Exploration permit in place for the current phase of work, providing regulatory certainty for the planned program.
Toronto, Ontario--(Newsfile Corp. - September 14, 2026) - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company") is pleased to provide an update on the recommencement of exploration activities at its flagship W2 Copper-Nickel-PGE Project in northwestern Ontario.
W2 Copper-Nickel-PGE Project
The Company has recommenced a 5,000 meter diamond drilling program within the underexplored Central area of the W2 Project.
An overall detailed exploration strategy will follow in the coming weeks.
Further, PTX has also commenced a soil sampling and prospecting program at W2 over the summer and fall season, designed to advance priority exploration targets across the property in the Central area and the T-Target, Lake Rowell and North Limb areas (see Corporate presentation for specific areas). Results from this work will be incorporated into PTX's evolving geological model and used to refine targets for future drilling.
This program has targeted a range of locations within the south and southeastern portion of the W2 property; testing primarily a Cu-Ni zone at, or near, what has been referred to as the CA1 Zone (see Company presentation). Situated under a suite of deformed and metamorphosed Archean supracrustal roof pendant rocks, the Landsdowne House Igneous Complex (LHIC) is host to a range of mineralization processes in addition to the magmatic Cu-Ni processes, including late to post magmatic, hydrothermal, and possible metamorphic shear-hosted mineralization. The range of mineral occurrence types includes in addition to the Cu-Ni-PGE currently being tested, Cu-Ni-PGE, PGE, Fe-Ti-V, Au, and Cu-Au.
Based on historic exploration and diamond drilling completed to date, the predominantly gabbroic 'Middle Zone' (MZ) of LHIC contains the majority of the magmatic related Cu-Ni mineralization encountered in the south-central western half of the W2 Property. Two styles of magmatic related mineralization occur in the south-central Property: 1) PGE-dominated mineralization within a sulphide gabbro layer, a potential reef, in the upper part, and 2) Cu-Ni-dominated mineralization associated with disseminated net-textured and semi-massive to massive sulphides at the base of MZ near the ultramafic basal zone of the LHIC. These two mineralization styles are consistent with the gravitational sulphide segregation process that involves forming of magmatic Ni-Cu-PGE sulphide deposits in layered intrusions (e.g., Bushveld, South Africa; and Ring of Fire Intrusions in northwestern Ontario).
Community Update:
PTX gratefully acknowledges the engagement received from First Nations communities connected to the W2 project area and reaffirms its commitment to continued respectful, transparent, and collaborative engagement with communities who's Traditional or Treaty Territories include or are connected to the W2 project area. The current exploration program is supported by the Company's recently extended exploration permit for W2, providing continued regulatory certainty for our activities at W2 following a comprehensive Crown consultation process. In parallel with the Crown consultation process, PTX has conducted its own direct engagement with First Nation communities connected to the project area over the past four years.
"W2 is moving forward, both in the field and through the relationships we have worked hard to build," said Greg Ferron, President and CEO of PTX Metals. "Our next phase of exploration activities is an important step as we continue advancing one of the most strategically located copper-nickel-PGE projects at the gateway to the Ring of Fire. Importantly, we are doing that work with communities in the region and we are grateful for their involvement in all of our past six exploration programs in the field."
Further, a signed letter of intent with one of the First Nations community provides ongoing communication and outlined initial opportunities for members and the company's commitment to advance the relationship.
"Importantly, the services including exploration, training and supplies provided by First Nations communities at W2 are essential to ensure safe and healthy working conditions are maintained for staff while working in remote parts of Ontario," added Greg Ferron.
PTX continues to work directly with First Nations and all local communities connected to the W2 project area regarding planned activities, opportunities for local participation in employment, training and business, and the environmental practices incorporated into its exploration programs.
Since April 2025, PTX has also engaged with another First Nation which holds Aboriginal rights to and over their Traditional Territory. On July 10, 2026, President & CEO Greg Ferron and members of the PTX team had the distinct privilege of being welcomed into community meeting attended by the Chief and Council, Elders and community members. The discussion provided an opportunity for PTX to further explain the early-stage nature of its work at W2, the environmental practices incorporated into its exploration programs, and potential opportunities related to employment, training and local business participation.
In January 2026, the Company paused exploration activities at W2 to allow for additional constructive periods of discussions and community meetings.
Marketing Update
The Company is pleased to announce that it has entered into an agreement with 15605237 Canada Inc., operating as DK Capital Partners ("DKCP"), principal office locate at 503-5885 Avenue, Marc-Chagall, Cote-St-Luc, Quebec, a company controlled by Daniel Kozel, to provide investor outreach services (the "Services") on behalf of the Company. DK Capital Services has agreed to organize and facilitate meetings with investment advisors, portfolio managers, and accredited investors.
Under the terms of the engagement. In consideration for these services, the Company has agreed to pay DKCP a cash fee of
Qualified person
The technical information in this news release has been reviewed and approved by Rhys Davies, P. Geo and Kyle Pedersen, P. Geo, both are independent consultant of the Company and qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, who is responsible for ensuring that the related technical information provided in this news release is accurate.
About PTX
PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its flagship W2 copper-nickel-PGE project near the gateway to the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp. PTX offers shareholders exposure to copper, gold, nickel and platinum group element (PGE) discoveries in one of the world's premier mining jurisdictions.
PTX's objective is to advance its portfolio through disciplined exploration, technical excellence and responsible engagement with local communities while creating long-term value for shareholders.
For further information, please contact:
Greg Ferron, President and Chief Executive Officer
1 (416) 270-5042
gferron@ptxmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314149
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What exploration activities has PTX Metals restarted at the W2 project?
PTX has recommenced a 5,000 metre diamond drilling program in the underexplored Central area of W2, focusing on the CA1 Zone. In parallel, it has begun soil sampling and prospecting over the summer and fall to advance priority targets in the Central, T‑Target, Lake Rowell and North Limb areas, with results to be fed into the geological model and future drill planning.
How is PTX Metals engaging with First Nations at W2?
The company reports four years of direct engagement with First Nation communities connected to W2, participation of First Nation businesses and community members in six exploration programs, and a signed letter of intent with one community outlining communication and initial opportunities. PTX also notes a July 10, 2026 community meeting with Chief, Council, Elders and members, and says it paused exploration in January 2026 to allow additional discussions.
What are the key terms of the marketing agreement with DK Capital Partners?
The agreement runs for four months and can be terminated with 15 days notice. DK Capital Partners will organize and facilitate meetings with investment advisors, portfolio managers and accredited investors. PTX will pay a cash fee of CAD $18,500 plus taxes, in two instalments of $15,000 on signing and $3,500 halfway through the program, subject to TSX Venture Exchange approval.
What are the details of the stock options granted to DK Capital Partners?
PTX will issue DK Capital Partners 200,000 stock options exercisable at $0.11 per share for three years, subject to TSX Venture Exchange acceptance. The options vest over 12 months as follows: 25% at three months and 25% every three months thereafter. DK Capital Partners and its controller, Daniel Kozel, have no other interest in PTX or its securities, and no right or intent to acquire such an interest beyond these options.
Who reviewed the technical information in this announcement?
The technical information was reviewed and approved by Rhys Davies, P.Geo and Kyle Pedersen, P.Geo, both independent consultants to PTX and qualified persons as defined by National Instrument 43‑101, who are responsible for ensuring the accuracy of the related technical information.