New reactor concepts to implement thorium-based fuel cycles have been explored to achieve maximum resource utilization. Pressure tube heavy water reactors (PT-HWRs) are highly advantageous for implementing thorium-based fuels because of their high neutron economy and online refueling capability. The use of heterogeneous seed/blanket core concepts in a PT-HWR where higher-fissile-content seed fuel bundles are physically separate from lower-fissile-content blanket bundles allows more flexibility and control in fuel management to maximize fissile utilization (FU) and conversion of fertile fuel. The lattice concept chosen was a 35-element bundle made with a homogeneous mixture of reactor-grade PuO2 (∼67 wt% fissile) and ThO2, with a central zirconia rod to reduce coolant void reactivity. Several annular and checkerboard-type heterogeneous seed/blanket core concepts with plutonium-thorium–based fuels in a 700-MW(electric)–class PT-HWR were analyzed, using a once-through thorium cycle. Different combinations of seed and blanket fuel were tested to determine the impact on core-average burnup, FU, power distributions, and other performance parameters. WIMS-AECL Version 3.1 was used to perform lattice physics calculations using two-dimensional, 89-group integral neutron transport theory, while RFSP Version 3.5.1 was used to perform the core physics and fuel management calculations using three-dimensional two-group diffusion theory. Among the different core concepts investigated, there were cores where the FU was up to 30% higher than that achieved in a PT-HWR using natural uranium fuel bundles. There were cores where up to 67% of the Pu was consumed, cores where up to 43% of the energy was produced from thorium, and cores where up to 363 kg/year of 233U was produced in the discharged fuel.