FULL DISCLOSURE: This is sponsored content for PTX Metals.
PTX Metals (TSXV: PTX) has seen success in a recent drill program conducted at the Heenan-Mallard Gold property. The second phase program, which consisted of a total of five holes, saw all holes intersect near surface gold mineralization.
Highlights from the results include:
- HE24-05: 0.82 g/t gold over 3.00 metres from a depth of 55.00 metres,
- And 0.84 g/t gold over 5.00 metres from a depth of 144.0 metres
- HE24-06: 0.50 g/t gold over 75.75 metres from a depth of 47.00 metres
- Including 0.84 g/t gold over 8.50 metres from a depth of 104.50 metres
- HE24-07: 0.85 g/t gold over 1.62 metres from a depth of 86.15 metres
- HE24-08: 0.63 g/t gold over 4.00 metres from a depth of 83.70 metres
- HE25-09: 0.98 g/t gold over 4.35 metres from a depth of 106.65 metres
“We are pleased with the current results for such a greenfield discovery. The company will continue its systematic approach to exploring the Heenan Property through 2025. To date only 200m strike length has been tested by drilling. Additional geochemical, prospecting, and geological programs are planned to continue to evaluate the gold potential on the Property in areas outside of what have been drill tested to date,” commented Joerg Kleinboeck, PTX Metals’ geologist, on the results.
The drill program was conducted as a follow up to an initial greenfield discovery announced in February of 2024, which was made following limited stripping and a four hole drill program. The latest results have confirmed expansion of a newly discovered system, roughly 45 kilometres northwest of IAMGOLD’s Cote Gold Mine.
Results to date suggest prospectivity for near-surface mineralized tonnage, with multiple drill holes now having intersected in excess of 70 metres of mineralization within core. The mineralized system is said to remain open along strike and at depth, with nine holes to date having drill tested the zone.
Moving forward, PTX Metals is said to have submitted exploration permits for its Shining Tree Property, with the intent of drill testing the high grade Ribble Vein at the Ronda target. Previous exploration here has intercepted 16.14 metres of 9.04 g/t gold within channel sampling.
PTX Metals last traded at $0.11 on the TSX Venture.
FULL DISCLOSURE: PTX Metals is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover PTX Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
