Pacific North West Capital Announces 15,500 Metre Drill Program - River Valley Platinum Group Metals (PGM) Project, Sudbury, Ontario - $5 Million Exploration Budget
VANCOUVER, March 1 /CNW/ --
-- One of North America's only stand alone Platinum Group Metals
(PGM) Projects
-- Advanced stage exploration and development project
-- $5 Million exploration program planned in two phases
o Including a 15,500 metre drill program
-- $1 Million Phase I Program includes 3D IP and 3500 metres
drilling
-- 2011 drill program to expand on targets from previous
exploration campaigns
TSX: PFN OTCQX: PAWEF FSE: P7J
VANCOUVER, March 1 /CNW/ - Pacific North West Capital Corp. ('PFN')
(TSX: PFN; OTCBB: PAWEF; FSE: P7J) is pleased to announce the planned
exploration program for 2011 at its 100% owned River Valley PGM
Project located near Sudbury, Ontario.
Work to date at River Valley suggests that the best potential for
economic accumulations of PGM-Cu-Ni sulphide mineralization is within
the Breccia Zone. This Zone includes the main mineralized breccia or
Main Zone. The Main Zone occurs within about 20 m of the intrusive
contact with Archean gneisses. This contact zone extends for over 9 km of prospective strike length,
holds the current defined resource and is the main target of the
Company's renewed exploration efforts.
Drilling and geophysical surveys are planned to commence in the spring
2011.
During the Phase I drilling campaign, the Company will focus on three
objectives:
1) Step-out drilling to expand the overall mineralized footprint at Dana
North
2) Infill drilling to convert inferred resources to the measured and
indicated categories
3) Drill testing of new targets generated from the 3D IP survey
A $1,000,000 budget has been approved for Phase I, targeting the Dana Lake Area and will include the following:
-- 3D Induced Polarization (IP) surveys over the Dana Lake Area to
trace known mineralization to greater depths and highlight new
targets in close proximity to the higher grade resources
-- 3500 Metre Drill Program to drill previously defined targets,
drill extensions of known mineralization and drill new 3D IP
targets
-- Develop a 3D Common Earth Model to aid interpretations and
prioritize additional targets along the 9 kilometre mineralized
horizon *
*Note: Common Earth Modeling is a method that employs 3D and 4D (time)
computer modeling techniques to integrate all available geological
information into a single, 3D environment that can be viewed and
quarried on a computer
The Phase II program will include:
-- Airborne Gravity Survey; Falcon Airborne Gravity Gradiometry
survey by Fugro
-- Airborne ZTEM Survey; Z Axis Tipper Electromagnetic survey by
Geotech Ltd.
-- Approximately 12,000 m drilling
-- Initialization of environmental baseline studies
-- Preliminary economic studies
The Phase II drilling program will consist of approximately 12,000
metres focusing on two main objectives:
1) Testing deeper targets that were generated to follow the footwall
mineralization down dip
2) Testing near surface mineralized zones not yet fully evaluated
The Phase II drilling campaign will continue to build on the results
from Phase I and will include the addition of newly available airborne
geophysical survey technology. Phase II is scheduled to begin in
fall-winter 2011. The mineralized footprint at River Valley remains
unconstrained in all directions; therefore, the program will also
include on-going condemnation drilling to test the limits of the known
mineralization.
'The River Valley PGM project is one of North America's newest, stand
alone PGM projects. The project has extensive exploration upside with
over a 9 kilometre prospective horizon. Furthermore, River Valley is
located in one of the best mining districts in the world - The Sudbury
Mining District.' comments Harry Barr, President & CEO of Pacific North West Capital
Corp.
Anthony Kovacs VP Exploration states, 'The Company can rapidly benefit from previous exploration programs that
outlined some well defined drill targets. The early expertise also
helps identify appropriate technologies to generate additional
high-priority targets.'
Qualified Person Statement
This news release has been reviewed and approved for technical content
by John Londry, M.Sc, P.Geo, a director of the Company and a qualified
person under the provisions of national instrument 43-101.
About the River Valley PGM Project
The River Valley PGM project is located in the Dana and Pardo townships
of Northern Ontario, approximately 60 km east of Sudbury, Ontario. The
project is road accessible in Canada's premier Ni-Cu-PGM mining and
smelting district which boasts perfect infrastructure and community
support for mining activities.
The River Valley project mineral claims were optioned by PFN in 1998
following the discovery of highly anomalous PGM values in grab samples.
The property was subsequently optioned by PFN to Anglo Platinum in
1999. Initial exploration was guided by geochemical and induced
polarization surveys with subsequent drilling proving up significant
mineralization at Dana Lake and Lismer's Ridge. A mineral resource
estimate in accordance with the guidelines set out by NI43-101 was
published in 2006. Measured and Indicated Resources using a 0.7 g/t cut off (Pt/Pd) of 30.5
million tonnes containing 953,900 ounces of palladium (0.97 g/t),
329,500 ounces of platinum (0.34 g/t) and 59,500 ounces of gold
(0.061g/t) with an additional 2.3 million tonnes containing 67,000
ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and
4,000 ounces of gold (0.05 g/t) of Inferred Resources using a 0.7 g/t
cut off (Pt/Pd). (PFN press release March 2006)
VANCOUVER, March 1 /CNW/ --
_____________________________________________________________________
| -- Measured Resource: 8.53 million tonnes containing 353,200 |
| ounces of palladium (1.29 g/t), 116,800 ounces of platinum |
| (0.43 g/t) and 20,400 ounces of gold (0.07 g/t) |
| -- Indicated Resources: 22.02 million tonnes containing 600,700 |
| ounces of palladium (0.85 g/t), 212,800 ounces of platinum |
| (0.30g/t) and 39,000 ounces of gold (0.06 g/t) with an |
| additional inferred resource of 2.39 million tones containing|
| 67,000 ounces of palladium (0.87g/t), 23,800 ounces of |
| platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) using |
|________a_0.7_g/t_cut_off_(pt/pd)____________________________________|
Anglo Platinum continued to fund exploration under the terms of the
option and joint venture agreement and invested over $22 million in the
exploration of the property for a 50% stake in the joint venture. As a
result of capital expenditure reductions during the global financial
crises, Anglo Platinum Limited decided that no new funds would be
allocated to the project, above and beyond the minimal holding costs.
In January 2011, PFN and Anglo Platinum were able to come to terms
whereby PFN could acquire Anglo Platinum's 50% stake in the River
Valley JV giving PFN 100% of the River Valley PGM project by offering
12% of its current outstanding shares to Anglo Platinum. This would
enable PFN to seek additional funding for the project while Anglo
Platinum could benefit from any future success of the project through
its share ownership in PFN.
In 2000 the first forty drill holes were completed on the River Valley
property; 37 at the Dana Lake Area and 3 at Lismer's Ridge, located about 1.3 km
southeast of the Dana Lake Area. The results to date demonstrate predictable grade to depth with significant high grade components over
broad intersections. Samples were taken from split drill core and sent to XRAL Laboratories
in Rouyn-Noranda, Quebec for Pt-Pd-Au-Rh-Cu-Ni assay. The following
table illustrates the extent of mineralization during the discovery
stages of the project.
Highlights from Phase 1, 2 and 3 (2000) Drill Program
_______________________________________________________________________________
| |DANA LAKE AREA |
|_____|_______________|
| |RV-01|285W/500N| | | | | | | | | | |
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
| |From | To |Interval|Interval|Au | Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E* | 4E | | |
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb| ppb| ppb|ppb| ppb | g/t | % | % |
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
| |41.72| 84.00 | 42.28 | 138.7 |111|507 |1630|37 |2285 |2.29 |0.14|0.02|
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|41.72| 45.15 | 3.43 | 11.2 |219|1228|4108| 83|5638 |5.64 |0.38|0.04|
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|72.25| 80.00 | 7.75 | 25.4 |204| 867|2629| 61|3761 |3.76 |0.21|0.03|
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
________________________________________________________________________________
| | RV-02|300W/450N| | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | From | To |Interval|Interval|Au | Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb |ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| |93.20 | 141.50 | 48.30 | 158.5 |87 |466 |1488|28 |2069 |2.07 |0.13|0.02|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|93.20 | 113.45 | 20.25 | 66.4 |143|812 |2549|49 |3553 |3.55 |0.19|0.02|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|104.20| 108.90 | 4.70 | 15.4 |203|1346|3767|71 |5387 |5.39 |0.24|0.04|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
___________________________________________________________________________
| | RV-03|250W/400N| | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| |104.50| 127.35 | 22.85 | 74.9 |92 |507|1717|32 |2348 |2.35 |0.14|0.03|
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
__________________________________________________________________________
| |RV-04|130W/325N| | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| |From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| |40.80| 56.50 | 15.70 | 51.5 |98 |487|1609|23 |2217 |2.22 |0.16|0.03|
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_________________________________________________________________________________
| |RV-05|28.5W/297.3N| | | | | | | | | | |
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| |From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | Ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
| |24.80| 54.50 | 29.70 | 97.4 |108|547|1766|41 |2462 |2.46 |0.12|0.02|
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|37.10| 49.60 | 12.50 | 41.0 |167|778|2456|60 |3461 |3.46 |0.18|0.03|
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_______________________________________________________________________________
| | RV-07|399W/550N| | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| |123.10| 221.00 | 97.90 | 321.2 |77 |364|1148|27 |1616 |1.62 |0.11|0.02|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|199.20| 221.00 | 21.80 | 71.5 |134|634|2161|58 |2987 |2.99 |0.22|0.04|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_________________________________________________________________________________
| | RV-08|363.5W/600N| | | | | | | | | | |
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
| |17.10 | 147.60 | 130.50 | 428.2 |69 |290|836 |18 |1213 |1.21 |0.11|0.02|
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|102.70| 147.60 | 44.90 | 147.3 |97 |412|1212|27 |1748 |1.75 |0.15|0.03|
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|119.00| 147.60 | 28.60 | 93.8 |116|509|1523|36 |2184 |2.18 |0.16|0.03|
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
__________________________________________________________________________
| |RV-09|330W/500N| | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| |From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| |59.10| 77.00 | 17.90 | 58.7 |131|648|1882|43 |2704 |2.70 |0.16|0.02|
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
___________________________________________________________________________
| |RV-12|73.5W/215S| | | | | | | | | | |
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| |From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
| |43.60| 53.00 | 9.40 | 30.8 |124|716|2527|72 |3439 |3.44 |0.14|0.02|
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_______________________________________________________________________________
| | RV-13|125W/175S| | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| |100.60| 155.00 | 54.40 | 178.4 |60 |321|1043|25 |1449 |1.45 |0.09|0.02|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|100.60| 115.00 | 14.40 | 47.2 |114|678|2303|52 |3147 |3.15 |0.14|0.03|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
________________________________________________________________________________
| | RV-18|500N/460W| | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au | Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb |ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| |250.00| 265.00 | 15.00 | 49.2 |148|780 |2102|70 |3100 |3.10 |0.12|0.02|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|253.60| 261.20 | 7.60 | 24.9 |235|1213|3426|106|4980 |4.98 |0.19|0.03|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|253.60| 256.80 | 3.20 | 10.5 |348|1696|4771|146|6961 |6.96 |0.26|0.04|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_______________________________________________________________________________
| | RV-20|400N/300W| | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| |180.00| 211.60 | 31.60 | 103.7 |72 |350|1074|34 |1530 |1.53 |0.11|0.02|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|180.00| 195.85 | 15.85 | 52.0 |89 |491|1552|47 |2179 |2.18 |0.13|0.03|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
___________________________________________________________________________
| | RV-22|450N/340W| | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| |173.50| 223.00 | 49.50 | 162.4 |101|529|1551|41 |2222 |2.22 |0.12|0.02|
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
______________________________________________________________________________
| |RV-25|325N/175W| | | | | | | | | | |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| |From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| |69.20| 97.80 | 28.60 | 93.8 |63 |303|868 |25 |1259 |1.26 |0.08|0.02|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|70.00| 81.10 | 11.10 | 36.4 |79 |452|1378|40 |1949 |1.95 |0.09|0.02|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|71.50| 77.30 | 5.80 | 19.0 |97 |606|1936|53 |2692 |2.69 |0.10|0.02|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_______________________________________________________________________________
| | RV-29|550N/250W| | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | From | To |Interval|Interval|Au |Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | Ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|137.00| 150.50 | 13.50 | 44.3 |146|658|1816|-- |2620 |2.62 |0.35|0.03|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|143.60| 150.50 | 6.90 | 22.6 |191|896|2504|-- |3592 |3.59 |0.23|0.04|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
________________________________________________________________________________
| | RV-36|185S/185W| | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | From | To |Interval|Interval|Au | Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | m | m | m | Ft. |ppb|ppb |ppb |ppb| ppb | g/t | % | % |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|126.50| 234.85 | 108.35 | 355.5 |127|569 |1735|-- |2430 |2.43 |0.13|0.03|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|126.50| 149.30 | 22.80 | 74.8 |168|827 |2566|-- |3561 |3.56 |0.15|0.03|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|138.75| 149.30 | 10.55 | 34.6 |183|1021|2928|-- |4132 |4.13 |0.20|0.04|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
|incl.|186.15| 194.95 | 8.80 | 28.9 |385|1658|5173|-- |7216 |7.22 |0.30|0.05|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
______________________________________________________________________________
| |RV-37|357N/222W| | | | | | | | | | |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| |From | To |Interval|Interval|Au |Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | Ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| |42.50| 61.05 | 18.55 | 60.9 |101|721|1852|-- |2673 |2.67 |0.12|0.02|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
|incl.|51.15| 61.05 | 9.90 | 32.5 |127|939|2503|-- |3569 |3.57 |0.15|0.03|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
____________________________________________________________________________________
| |LISMER'S| | | | | | | | | | | |
| | RIDGE | | | | | | | | | | | |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
| |RV-38** |1375SE/681NE| | | | | | | | | | |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | |Total|Total| | |
| | From | To |Interval|Interval|Au |Pt | Pd |Rh | 4E | 4E | Cu | Ni |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
|incl.| 27.25 | 53.35 | 26.10 | 85.6 |35 |214|339 |-- | 588 |0.59 |0.06|0.01|
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
|incl.| 34.50 | 44.55 | 10.05 | 32.9 |54 |337|539 |-- | 930 |0.93 |0.09|0.01|
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
|incl.| 43.50 | 44.55 | 1.05 | 3.4 |89 |484|1243|-- |1816 |1.82 |0.28|0.03|
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
______________________________________________________________________________
| |RV-39|1877.5SE/680NE| | | | | | | | | | |
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
| |From | To |Interval|Interval|Au |Pt |Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb|ppb| ppb | g/t | % | % |
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
| |27.00| 35.50 | 8.50 | 27.9 |64 |436|956|-- |1456 |1.46 |0.09|0.04|
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
VANCOUVER, March 1 /CNW/ --
_______________________________________________________________________________
| |RV-40|1810SE/692.5NE| | | | | | | | | | |
|_|_____|______________|________|________|___|___|____|___|_____|_____|____|____|
| |From | To |Interval|Interval|Au |Pt | Pd |Rh |Total|Total| Cu | Ni |
| | | | | | | | | | 4E | 4E | | |
|_|_____|______________|________|________|___|___|____|___|_____|_____|____|____|
| | m | m | m | ft. |ppb|ppb|ppb |ppb| ppb | g/t | % | % |
|_|_____|______________|________|________|___|___|____|___|_____|_____|____|____|
| |21.05| 41.70 | 20.65 | 67.8 |118|526|1220|-- |1864 |1.86 |0.12|0.02|
|_|_____|______________|________|________|___|___|____|___|_____|_____|____|____|
*Note: 4E: Au Pt Pd Rh
About Pacific North West Capital Corp
Pacific North West Capital Corp. is a mineral exploration company whose
corporate philosophy is to be a project generator, explorer and project
operator with the objective of option / joint venturing its projects
through to production. The River Valley PGM project is one of North
America's newest and largest primary platinum group metals (PGM)
deposits. The project is located in the Sudbury region of Ontario.
In January 2011, Pacific North West Capital successfully negotiated the
100% acquisition of the River Valley PGM Project from Anglo Platinum
Limited, making Anglo Platinum the largest shareholder of PFN holding
approximately 12% of the Company (see news release dated January 31, 2011).
On January 24, 2011, PFN announced a new NI43-101 mineral resource
estimate on the Destiny Gold Project which is situated 75 km near
Val-d'Or, Québec (see news release dated January 24, 2011). The Destiny
Project is under option from Alto Ventures Ltd. ('Alto'). Under the
terms of the option agreement, PFN can earn a 60% interest in the
property over a four-year period by completing $3.5 million in
exploration expenditures, paying $200,000 and providing a total of
250,000 PFN shares to Alto.
The Company is currently completing a NI43-101 compliant resource
estimate on the Rock and Roll Polymetallic Project. The project is located in the Iskut River region of British Columbia
(see press release dated October 27, 2010). The Rock and Roll project
hosts volcanogenic massive sulphide mineralization, rich in precious
metals, in a volcano-sedimentary host rock package. The mineralization
shows similarities to the gold and silver rich mineralization of
Barrick Gold's past producing Eskay Creek mine. The Company also has
PGM, gold and base metal projects in Québec, Ontario, Saskatchewan and
Alaska and continues to aggressively look for new acquisition of
additional platinum group metals, precious metals on an international
scale.
In addition, PFN is a significant shareholder of Fire River Gold Corp (FAU:TSX.V) which company is developing the Nixon Fork Gold Mine in Alaska, which is slated for production in summer of 2011.
Pacific North West Capital Corp. is well funded with an experienced
management team and the ability to take advantage of its growing asset
base in Platinum Group Metals, gold and base metals. To that end, the
Company is in the process of adding key technical and financial people
to our management, advisory team and our board of directors. PFN has
approximately $6.6 million in working capital and securities.
Pacific North West Capital Corp. is a member of the International Metals
Group of Companies (www.internationalmetalsgroup.com).
On behalf of the Board of Directors
Harry Barr
President and CEO
To view maps attached to this news release please click here:
http://www.pfncapital.com/s/NewsReleases.asp?ReportID=445100
Disclaimer: This news release may contain certain 'Forward-Looking
Statements' within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with The
Toronto Stock Exchange, British Columbia Securities Commission and the
United States Securities & Exchange Commission.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2011/01/c7045.html
Tel: 1.604.685.1870 Fax: 1.604.685.8045
Email: info@pfncapital.com, or visit www.pfncapital.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3