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PTX Metals Completes High-Resolution Survey at W2 Project near Webequie

Jan 22, 2025


PTX Metals has completed a property-wide high-resolution airborne magnetic survey on its W2 Cu-Ni-PGE Project in northern Ontario, advancing exploration efforts on this promising asset.

“The Heli-GT airborne magnetic survey, coupled with SHA’s proprietary GT-Grid gridding software, is widely regarded as one of the best magnetic data products on the market,” said Ryan Weston, P.Geo., head of PTX’s W2 Project Technical Committee. “We are excited to receive the final data, which will provide detailed information to identify subtle yet significant magnetic features. This will form the foundation for our property-wide geological interpretation and 3D modeling efforts as we advance drill targets.”

The survey, conducted by Scott Hogg & Associates, covered 3,191 line kilometers at 75-meter spacing using the Heli-GT system. The system recorded triaxial magnetic gradient data at low altitudes, ensuring high-quality results for identifying magnetic anomalies associated with Cu-Ni-PGE mineralized gabbro bodies. Based out of Webequie First Nations, the survey was completed ahead of schedule, with final data delivery expected by month’s end.

Financing Update

PTX closed $3,419,834 in combined gross proceeds through financing completed in December 2024. Additionally, the company closed a $180,000 Quebec Flow-Through Private Placement at $0.15 per share, issuing 1,200,000 common shares. All securities from the placement are subject to a four-month-plus-one-day hold period, as per applicable securities laws.

Stock Options Granted

PTX has granted 1,375,000 incentive stock options to directors, officers, employees, and consultants under its stock option plan. Each option is exercisable at $0.15 per share for a three-year period and is subject to vesting conditions. This grant follows the expiration of 937,500 stock options in November 2024.

About the W2 Project

The W2 Cu-Ni-PGE Project is one of PTX Metals’ flagship assets in northern Ontario, a globally recognized mining jurisdiction. With its abundance of critical minerals like copper, nickel, and PGEs, the W2 Project supports PTX’s mission to advance clean energy solutions.

About PTX Metals Inc.

PTX Metals is a mineral exploration company focused on critical minerals and gold projects in northern Ontario. Its portfolio includes the W2 Cu-Ni-PGE and Gold Project and the South Timmins Gold Joint Venture, strategically positioned near established mining operations. PTX’s programs aim to prove the potential of these assets, advancing exploration efforts under the guidance of a seasoned team of geologists.

By Kevin Vincent



Tags: Northern Ontario / Exploration / Gold / All Articles