PTX Metals Inc. Initiates Work Program at Its Shining Tree Gold Project

Core Insights - PTX Metals Inc. has initiated a pre-drilling work program at its Shining Tree Gold Project in South Timmins, Ontario, aiming to explore larger-scale targets related to the Ridout-Tyrrell Deformation Zone (RTDZ) [1][2] Project Overview - The Shining Tree Gold Project is strategically located near significant mining operations, including McFarlane's Juby Deposit and IAMGold's Cote Gold mine, which enhances its exploration potential [2][7] - The company has consolidated key claims within the Shining Tree Project, including the Ronda Target, where recent surface exploration has identified high-grade gold zones [6][10] Exploration Strategy - PTX has engaged SRK Consulting for structural analysis to optimize exploration strategies and drill planning, and Terrascope Inc. for a detailed magnetic survey covering approximately 8,000 hectares [5][8] - The magnetic survey will utilize a 35-meter spacing and will be followed by a 3D inversion to identify geophysical anomalies, aiding in refining drill targeting [5][8] Recent Discoveries - Surface exploration has yielded significant results, including a channel sample returning up to 60.30 grams per tonne (g/t) gold over 0.50 meters, and a larger interval of 9.04 g/t gold over 16.15 meters [6][8] Company Positioning - PTX Metals holds a 75% equity interest in the Shining Tree and Heenan-Mallard gold projects, which together cover approximately 300 square kilometers [8][10] - The company is focused on advancing its assets in a region known for its rich mineral resources and proximity to major mining operations [11][12]