PTX Metals Inc. (TSXV: PTX) has completed the first phase of its 2026 exploration program at the Shining Tree Gold Project, drilling six holes for a total of 1,209 metres.
The holes targeted the historic Ronda mineralization on the property, which sits along the Ridout-Tyrrell Deformation Zone in northern Ontario’s Timmins Gold Camp. Variable alteration and veining were logged in every hole.
Crews also ran a surface program on the northwestern part of the property, collecting 321 soil samples and 59 grab samples from a section of the deformation zone that had not previously been tested. The prospecting and mapping work focused on areas with historically anomalous rock chip geochemistry inside a corridor defined by geophysics.
Results from that work are pending as well.
The gold work is running alongside activity at W2, the company’s flagship copper-nickel-PGE project near the Ring of Fire. Earlier this week PTX restarted a 5,000 metre drill program at W2, focused on the CA1 Zone in the project’s Central area.
RELATED: PTX Metals Back in the Field at W2 With 5,000 Metre Program and Concurrent Soil Sampling
That drilling follows metallurgical testing at SGS Lakefield. A locked cycle test reported in August recovered 97% of the copper into a concentrate grading 28% copper, 7.2 g/t palladium and 0.8 g/t gold. Palladium recovery rose to 70% and gold recovery to 54%, up from 53% and 41% in the first round of testing released in June. The company still plans to test nickel recovery in a separate flotation circuit.
Shining Tree covers 23,385 hectares. South Timmins Mining Corp. holds the property along with the 5,700-hectare Heenan Mallard project. PTX owns 75% of South Timmins and Fancamp Exploration Ltd. owns the other 25%.
PTX Metals last traded at $0.085 on the TSX Venture.
