FULL DISCLOSURE: This is sponsored content for PTX Metals.
PTX Metals (CSE: PTX) has completed a property wide magnetic survey. The survey was conducted across the firms W2 copper-nickel-platinum group elements property in Northern Ontario.
The property-wide high resolution airborne magnet survey was conducted by Scott Hogg & Associates. A total of 3,191 line-kilometres were flown, which covered the entire property at a spacing of 75 metres. The data will be used to target magnetic anomalies that are associated with copper-nickel-platinum group element mineralization within gabbro bodies at the project.
“The Heli-GT airborne magnetic survey coupled with SHA’s proprietary GT-Grid gridding software is widely regarded as one of the best airborne magnetic products on the market. We are excited to receive the final product from SHA, which will provide PTX with detailed information and high-quality magnetic data needed to identify many of the subtle, yet important, magnetic features on the W2 Project and ultimately will form the basis of our property-wide geological interpretation and 3D modelling efforts in the central area as we advance drill targets,” commented Ryan Weston, who is head of the technical committee for PTX’s W2 project.
Delivery of the data related to the survey is expected to occur by the end of January.
A technical report filed in September suggests the W2 project has an exploration target measuring between 59 to 135 million tonnes averaging 0.78% to 1.03% copper equivalent across five zones. The figures suggest that W2 could contain between 610,000 and 1,052,000 tonnes of copper equivalent, which translates to 1.3 to 2.3 billion pounds of copper equivalent. That target is based on 98 drill holes conducted on the property since 2002.
PTX Metals last traded at $0.13 on the CSE.
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