Pacific North West Capital Announces 2.5 million ounces PGM+Gold Measured and Indicated Resources for its 100% Owned River Valley Project, Sudbury, Ontario
Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J) announced that the estimated NI43-101 compliant Measured and Indicated mineral resources at a cut-off grade of 0.80 g/t PdEq have increased by >400% from the previous NI43-101 compliant mineral resource estimate (May 2006) to 91,339,500 tonnes grading 0.84 g/t Pd+Pt+Au, 0.06% copper, and 0.02% nickel. The compliant Inferred mineral resources have increased by >1000% to 35,911,000 Mt grading 0.53 g/t Pd+Pt+Au, 0.06% copper, and 0.03% nickel. The River Valley PGM Project is located 100 km from the world-renown Sudbury Ni-Cu-PGM Mining Camp, has excellent infrastructure support, and is 100% owned by PFN.
- River Valley Measured + Indicated resources: 91 million tonnes @ 0.58 g/t* palladium, 0.22 g/t platinum, 0.04 g/t gold at a cut-off grade of 0.8 g/t PdEq** for 2,463,000 ounces PGM*** plus gold
- River Valley Inferred resources: 36 million tonnes @ 0.36 g/t palladium, 0.14 g/t platinum, 0.03 g/t gold at a cut-off grade of 0.8 g/t PdEq for 614,000 ounces PGM plus gold
- On a PdEq basis, the Measured + Indicated resources contain 3,944,000 ounces PdEq and the Inferred resources contain 1,201,000 ounces PdEq
- River Valley PGM-copper-nickel sulphide mineralized zones remain open to expansion with continued exploration
Dr. William Stone, President & COO, comments, “The large increase in the estimated mineral resources confirms that River Valley is one of the largest undeveloped primary PGM Projects in North America. The strategy of including all the mineralized zones and the full value of the metal suite in the mineral resource estimation produced a very positive result. It greatly increases PFN’s confidence in River Valley as the project is advanced toward a Preliminary Economic Assessment Study. The Company plans to further expand the PGM resources and to discover new resources with more drilling at the River Valley Project and its adjacent properties.”
PFN is a mineral exploration company whose philosophy is to be a project generator, explorer and project operator in order to option/joint venture its projects through to production. PFN is focused on the discovery, exploration and development of PGM and nickel-copper sulphide deposits in geologically prospective regions in North America, particularly Canada. The Company’s key asset is its 100% owned River Valley PGM Project in the Sudbury region of northern Ontario. PFN also has PGM and nickel-copper projects and properties in northwest Ontario, Saskatchewan, and Alaska, and an option to joint venture a base metal project in northwestern BC’s Golden Triangle region. The Company continues to evaluate PGM and nickel-copper properties and projects in North America for potential acquisition opportunities.