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Further assay results have been released by PTX Metals (TSXV: PTX) related to a phase 1 drill program conducted at their W2 copper-nickel-platinum group elements project found in Ontario’s ring of fire.
Assay results from two holes conducted under the program were released this morning, which follows the release of further assays last week. Highlights from the latest results include:
- W225-08: 97.05 metres of 0.28% copper, 0.13% nickel, 0.02 g/t gold, 0.03 g/t platinum and 0.05 g/t palladium from a depth of 26.95 metres
- Including 41.00 metres of 0.42% copper, 0.20% nickel, 0.01 g/t gold, 0.03 g/t platinum and 0.04 g/t palladium
- Including 0.50 metres of 0.73% copper, 0.01% nickel, 0.20 g/t gold, 0.01 g/t platinum and 0.41 g/t palladium
- W225-12: 88.00 metres of 0.17% copper, 0.09% nickel, 0.02 g/t gold, 0.08 g/t platinum and 0.15 g/t palladium from a depth of 67.00 metres
- Including 55.92 metres of 0.22% copper, 0.12% nickel, 0.02 g/t gold, 0.08 g/t platinum and 0.19 g/t palladium
- Including 27.42 metres of 0.31% copper, 0.17% nickel, 0.03 g/t gold, 0.09 g/t platinum and 0.23 g/t palladium
Drilling across the two holes has confirmed high-grade copper in multiple intervals above 1% copper, while consistent copper and nickel mineralization was identified over long widths.
READ: PTX Metals Hits 235.1 Metres Of Copper, Nickel Mineralization In Longest Intercept To Date At W2
Hole W225-08 was conducted within the CA1 zone, where mineralization was intersected at shallow depths following the drill getting through overburden. The hole was designed as an infill hole, while stepping out from historical drilling conducted by Inco.
Hole W225-12 meanwhile was conducted in the CA2 zone 2.92 kilometres to the east of CA1, and also encountered mineralization near surface, which is said to demonstrate the consistency of the mineralized body found across W2. The hole was a 130 metre step out to the east of prior drilling, while serving to infill CA2.
The program as a whole is said to have shown an improvement of both widths and grades from historical drilling conducted on the property. Results to date are said to support a potential large bulk tonnage project, with W2 demonstrating a large scale system that has 8 kilometres of strike length. Current efforts are focused on building a continuous system between the CA1 and CA2 zones to prove continuity.
PTX Metals last traded at $0.10 on the TSX Venture.
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