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PTX Metals Announces High Grade Gold Exploration Results From South Timmins Projects
TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (“PTX” or the “Company”), a minerals exploration Company wi
About this update from Ptx Metals Inc
[{"type":"text","content":" TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (“PTX” or the “Company”), a minerals exploration Company with two flagship projects situated in northern Ontario, is pleased to provide an update on recent project activities at its South Timmins Joint Venture Gold Projects (“South Timmins JV”). The current program follows the results from Phase 1 work completed during 2023 and early 2024, which confirmed high-grade gold mineralization through stripping and channel sampling at the Shining Tree Gold Project including 9.04 g/t Au over 16.15 m at surface at Ronda (see press release dated February 7th, 2024). The current program also included follow up on the drilling of a new gold discovery at the Heenan Property in the Swayze Greenstone belt (see press release dated February 21st, 2024). The program was for preparation of drilling and other exploration activities. Highlights include: During June and early July, the South Timmins Joint Venture completed mechanized stripping and channel sampling programs on the Shining Tree Gold Project covering an area of 2,971 m2, bringing the total area stripped in Phase 1 to 4,883 m2. This had led to several new quartz-carbonate vein systems being uncovered, with channel sample results ranging from 0.01 g/t to 5.18 g/t Au. A 20 m wide north-northeast orientated altered shear zone was uncovered approximately 500 m south of Ronda containing anomalous gold mineralization and discovery of a 3-4 m wide northwest orientated quartz-carbonate vein system that was uncovered 700 m northeast of Ronda, and immediately south of Caswell Lake. At Heenan, a total of 9 select channel samples were collected over 25 cm lengths from Stripped Area #2, with 4 of the 9 samples returning > 2.00 g/t Au, with a high of 5.77 g/t Au. Successfully completed the exploration activities for Phase 1 of the Joint Venture agreement and planning is underway for the earn-in and Phase 2 exploration program. PTX has appointed Erika Dohring as a technical committee member of the South Timmins JV. Shining Tree: Stripping targeted anomalous grab and geochemical (B-Horizon) samples, as well as exposed bedrock geology in select areas. A total of five areas totaling 2,971 m2 were mechanically stripped, washed, channel sampled, and geologically mapped. In total, 117 channel samples ...