Pacific North West Capital Commences 15,500 Metre Drill Program on the River Valley Platinum Group Metals (PGM) Project, Sudbury, ON
VANCOUVER, April 20 /CNW/ --
-- One of North America's newest and largest stand alone Platinum
Group Metals (PGM) Projects
-- Advanced stage exploration and development project
-- Exploration program planned in two phases including a 15,500
metre drill program
o Infill drilling to convert inferred resources to the Measures and
Indicated categories
-- $1 Million Phase I Program includes 3D IP and 3600 metres
drilling
-- Four holes have been drilled to date and further holes are
underway
-- All four holes have intersected visual sulphide mineralization
over 300 metres
-- 20 Line Kilometres of 3D Induced Polarization (geophysics)
completed with an additional 40 Line Kilometre in progress
-- Samples from all four holes have been sent out fo SGS
Laboratories for assay including Platinum, Palladium, Rhodium,
Gold, Nickel and Copper
TSX: PFN OTCQX: PAWEF FSE: P7J
VANCOUVER, April 20 /CNW/ - Pacific North West Capital Corp. ('PFN')
(TSX: PFN; OTCQX: PAWEF; FSE: P7J) is pleased to announce the
commencement of Phase I 2011 exploration program and visual results
from the ongoing drill program on its 100% owned River Valley PGM
Project located near Sudbury, Ontario. The sulphide mineralization in
the breccia horizon has been intersected in all four drill holes.
Visual inspection of the first four holes, (assay results pending) have
intersected sulphide mineralization up to 90 metres in width in all of
the holes.
Sampling of the core has been completed and the samples are currently
with SGS Labs in Toronto where they will be analyzed for Platinum,
Palladium, Rhodium, Gold, Nickel and Copper. Results will be released
as soon as they are available. The intersected sulphide mineralization
presented here are visual, and although, there is a strong relationship
of PGM mineralization to sulphides the assay data (Pt, Pd, Au, Rh, Ni
and Cu) is required to determine the extent of the PGM mineralization
Approximately 60 line km line cutting was completed over the property in
March 2011 and with 20 Line Kilometres of 3D Induced Polarization (IP)
(geophysics) completed with an additional 40 Line Kilometre in
progress.
Phase I drilling began on April 7th and consists of a 3,500 metre ,
20-hole drill program. 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.
During the Phase I drilling campaign, the Company is focusing 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
$1,000,000 Phase I exploration program is 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.
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 1 g/t cut off (Pt/Pd) 19.3
million tonnes containing 733,000 ounces palladium (1.18 g/t), 245,100
ounces of platinum (0.39 g/t) and 43,600 ounces of gold (0.07 g/t) with
an additional 881,000 tonnes containing 38,400 ounces of palladium
(1.36 g/t), 13,100 ounces of platinum (0.46 g/t) and 2,100 ounces of
gold (0.07 g/t) of Inferred Resources using a 1.0 g/t cut off (Pt/Pd).
At a 1 g/t cut off
-- Measured Resource: 7.99 million tonnes containing 342,000
ounces of palladium (1.33 g/t), 112,400 ounces of platinum
(0.44 g/t) and 19,600 ounces of gold (0.08 g/t)
-- Indicated Resources: 11.309 million tonnes containing 391,100
ounces of palladium (1.08 g/t), 132,600 ounces of platinum
(0.36g/t) and 24,000 ounces of gold (0.07 g/t) with an
additional inferred resource of 0.88 million tones containing
38,400 ounces of palladium (1.36g/t), 13,100 ounces of platinum
(0.46g/t) and 2,100 ounces of gold (0.07 g/t) using a 1 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 April 2011, PFN and Anglo Platinum closed the transaction allowing
PFN to acquire Anglo Platinum's 50% stake in the River Valley JV giving
PFN 100% of the River Valley PGM project. The transaction issued 12% of
PFN's outstanding shares, (as of January 2011) to Anglo Platinum.
Through its share ownership in PFN, Anglo Platinum can benefit on any
future success of the River Valley Project.
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|
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|_____|_________|________|________|___|____|____|___|_____|_____|____|____|
________________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
___________________________________________________________________________
| | 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|
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
__________________________________________________________________________
| |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|
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
_________________________________________________________________________________
| |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|
|_____|_____|____________|________|________|___|___|____|___|_____|_____|____|____|
_______________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
_________________________________________________________________________________
| | 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|
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|___________|________|________|___|___|____|___|_____|_____|____|____|
__________________________________________________________________________
| |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|
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
___________________________________________________________________________
| |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|
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|__________|________|________|___|___|____|___|_____|_____|____|____|
_______________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
________________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
_______________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
___________________________________________________________________________
| | 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|
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|______|_________|________|________|___|___|____|___|_____|_____|____|____|
______________________________________________________________________________
| |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|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
_______________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|___|____|___|_____|_____|____|____|
________________________________________________________________________________
| | 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|
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|______|_________|________|________|___|____|____|___|_____|_____|____|____|
______________________________________________________________________________
| |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|
|_____|_____|_________|________|________|___|___|____|___|_____|_____|____|____|
____________________________________________________________________________________
| |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|
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_____|________|____________|________|________|___|___|____|___|_____|_____|____|____|
______________________________________________________________________________
| |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|
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
| | | | | | | | | | | | | |
|_|_____|______________|________|________|___|___|___|___|_____|_____|____|____|
_______________________________________________________________________________
| |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. In special situations, like our 100% owned River
Valley PGM Project, the Company is prepared to fund the project through
to feasibility and up 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.
On April 7, 2011, PFN announced the closing of the River Valley
acquisition from Anglo Platinum (see news release dated April 7 2011). On April 20, 2011, PFN announced the commencement of the Phase I
exploration and drill program for its 100% owned River Valley PGM
Project located near Sudbury, Ontario. Work to date at River Valley
suggest 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. Geophysical surveys have
commenced and results will be released as soon as they are available.
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 also has PGM, gold and base
metal projects in BC, 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. (click here to view Fire River Gold's 2011 President's Message)
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 $8.4 million in working capital and securities.
Pacific North West Capital Corp. is an International Metals Group
Company
(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=452805
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/April2011/20/c5870.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