PTX Metals Completes Phase 1 Drilling at Shining Tree Gold Project
News related to:PTX Metals Inc · 1 min read
PTX Metals Inc. has completed the first phase of its exploration program at the Shining Tree Gold Project in the Timmins Gold Camp, Ontario. The project, which covers 23,385 hectares, is part of the company’s ongoing efforts to advance its gold exploration in the region.
The company drilled six holes for a total of 1,209 meters, targeting the historic Ronda mineralization. The drilling program observed variable alteration and veining in all holes, though the company notes that these observations are not necessarily indicative of mineralization. Core samples have been cut and sent to Activation Laboratories Ltd. (Actlabs) in North Bay, Ontario for analysis. The results are pending.
In addition to the drilling, a concurrent soil sampling, prospecting, and mapping program was conducted over the northwestern portion of the Shining Tree Gold Project. This program focused on a previously untested section of the Ridout-Tyrell Deformation Zone (RTDZ), covering 321 soil samples and 59 grab samples. The samples were taken from areas with historically identified anomalous rock chip geochemistry within a geophysical defined corridor. Ground truthing revealed several lithological domains, and the results of all samples are pending.
Rhys Davis, P. Geo, and Kyle Pedersen, P. Geo, both independent consultants of PTX Metals Inc., are responsible for ensuring the accuracy of the technical information provided. The Shining Tree Gold Property is located along the RTDZ in South Timmins, Ontario, and is part of the larger Shining Tree Claim Block. The company holds a 75% equity interest in the Shining Tree Gold Project, with Fancamp Exploration Ltd. owning the remaining 25%.
The Shining Tree Gold Project is situated in the Timmins Gold Camp, a well-known gold mining district in Ontario. PTX Metals Inc. is advancing its portfolio through disciplined exploration and technical excellence, aiming to create long-term value for shareholders. The company’s next steps will likely involve analyzing the drilling and soil sample results to determine the next phase of exploration activities.