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PTX Metals’ Green Canada Subsidiary Announces Acquisition of Thelon Basin Uranium Claims
TORONTO, Sept. 25, 2024 (GLOBE NEWSWIRE) -- PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (“PTX” or the “Company”), a minerals exploration Company f
About this update from Ptx Metals Inc
[{"type":"text","content":" TORONTO, Sept. 25, 2024 (GLOBE NEWSWIRE) -- PTX Metals Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (“PTX” or the “Company”), a minerals exploration Company focused on high-quality gold, copper, nickel and PGE projects that are of fundamental importance to powering the global green and digital economy, located in northern Ontario, is pleased to provide an update on recent project and corporate activities related to its subsidiary Green Canada Corporation (“GCC”) of which PTX has a 51% equity ownership. During the past six months GCC has analyzed historical exploration results in the region and acquired by way of low-cost claims staking a large mineral rights position in the Thelon Basin Nunavut, Canada and the prospective Baker Lake and Amer Lake uranium districts (the “Nunavut Uranium Claims” or the “Claims”). The Claims package, totaling 324 km2, contains fertile and highly prospective geological terranes capable of hosting uranium deposits as seen in the Thelon Basin including Kiggavik and Angilak uranium projects. The Thelon Basin is highly underexplored and its similarities to Athabasca Basin makes the Claims an ideal area for GCC, complementing its existing projects including Beartooth Island Uranium Project, Athabasca Basin, Matoush-Otish Mountain Project and Mistassini Project in Quebec, which also includes ground immediately north and south of IsoEnergy’s Matoush Uranium Deposit, a large high-grade uranium deposit and the Cypress uranium and copper project in the Athabasca Basin. Highlights include: The Nunavut Uranium Claims are described below, and project location is provided in the attached image. Historical drill results on the claims include drilling 25.9m @ 0.125% U3O8; The Amer Lake package controls a major structure surrounding Amer Lake uranium deposit along strike located near Agnico Eagle’s operating Amaruq gold project; High grade uranium boulders and till geochemistry anomalies and strong basement conductors, walk-up drilling targets are abundant along the Amer Lake trend; and 100% ownership with no royalties outstanding subject to potential government royalties. Nunavut Uranium Claims Overview: Baker Lake South: Comprises a series of 19 uranium prospects across 85 km2 land packages to the south of Baker Lake. The project is located the Churchill Structural Province on the south...