Posts Tagged ‘green energy’
AGORACOM Welcomes Back Pacific North West Capital (PFN: TSX-V) A Leader in Both PGM and Lithium Exploration $PFN.ca
PACIFIC NORTH WEST CAPITAL CORP.
Two Divisions: PGM and Lithium
- PGM Division: focus on Development of the 100% owned River Valley PGM Project. Canada’s Largest Undeveloped Primary PGM Resource, with 2.5 Moz PGM, in Measured plus Indicated mineral resources. New Discovery in 2015. Summer Surface Exploration ongoing and a Fall 2016 drill program to follow-up.
- Lithium Canada: formed April 2016, with a focus on Exploration of Hard Rock Lithium, in Manitoba, Canada and Lithium Brine in Nevada. The company uses the Prospector Generator Model.
The company recently completed 2/3 of its C$1.5 million placement in June 2016 and is currently placing approximately C$500,000 at C5.5 cents with a full two year warrant at C10 cents for the first year and C20 cents for the second year
River Valley PGM Project
Largest Undeveloped Primary PGM Deposit in Canada
River Valley PGM Project is located 100 km east of Sudbury, Ontario
- Sudbury hosts 1 of the Top 4 Nickel, Copper & PGM Mining & Processing Facilities , in the World
- Skilled Workforce, Established Mining Culture; Safe, Stable Pro-Mining Jurisdiction
- Excellent Road Access to River Valley Property; Rail and Power Nearby
- $30M Invested in Exploration, Large High-Confidence Resource, Favourable Metallurgy
- High Grade Drill Hole Discovery March 2015
Mineral Resources – Project has had Five, 43-101 Reports
- May 2012 Measured Resources: 26 Mt @ 1.4 g/t Palladium equivalent at cut-off grade ≥0.8 g/t Palladium equivalent for 0.7 Moz PGM plus Gold.
- May 2012 Indicated Resources: 66 Mt @ 1.4 g/t Palladium equivalent at cut-off grade ≥0.8 g/t Palladium equivalent for 1.7 Moz PGM plus Gold.
- May 2012 Measured + Indicated Resources: 91 Mt @ 1.4 g/t Palladium equivalent at cut-off grade ≥0.8 g/t Palladium equivalent for 2.4 Moz PGM plus Gold
- May 2012 Inferred Resources: 36 Mt @ 1.1 g/t Palladium equivalent at cut-off grade of 0.8 g/t Palladium equivalent for 0.6 Moz PGM plus Gold
- (see www.PFNCapital.com for Details and Notes on the Resource Estimate)
- Mineral Resources covered by Mining Leases (21-year Renewable Term)
- Concentrate Grades: 16% Cu, 189 gpt PGM; Recoveries: 84% Cu, 69% PGM;
- No Deleterious Metals or Minerals
August 2016 PFN Announces Acquisition of the River Valley PGM Extension Project from Mustang MineralsCorp.
- Strike Length of PFN’s River Valley Deposit Increased from 12 km to 16 km
- Mustang’s surface grab samples returned Assays of up to 10 g/t PGM
- Drilling Highlights Include:
- 1.4 g/t PGM/9.0m in MR02-59 from 35m downhole
- 4.0 g/t PGM/2.1m in MR02-62 from 153.7m downhole
- 2.2 g/t PGM/4.5m in MR02-64 from 60.5m downhole
- PGM mineralization is Open at Depth and footwall potential remains untested
- T2-like Targets identified from Favourable Geological and Geophysical Surveys
- Targets under evaluation for drill testing
- The Tanco Mine was one of North America’s only
- producers of Tantalum, Cesium and Lithium minerals (Spodumene), with the mine opening in 1969. Owned by the Cabot Corporation as of 1993
- Presently the Tanco Mine produces Cesium Formate, a completion fluid for the petroleum industry.
- At the end of 1992 (last published historic mineral inventory) was 1.075 Mt of 0.12% Ta2O5, 3.5 Mt of 2.7% LiO2 and 315,000 t of 23.3% Cs2O
Clayton Valley Forks Lithium Brine Project, Clayton Valley, Nevada
12 Month Stock Chart
Durango Assays 199.5 G/T Silver over 1.2 Metres in Channel Samples, 2.06% Copper from Grab Samples, and Discovers New Showings at Dianna Lake $DGO.ca
- Received highly encouraging assay results from its reconnaissance program at its 100%-owned Dianna Lake Silver Prospect in northern Saskatchewan
- high-grade silver and copper anomalies which assayed up to 457.0 g/t Ag and 0.72% Cu over 0.30 m in channel samples taken from the main zone of historical workings, and up to 2.06% Cu in grab samples
Vancouver, BC / September 6, 2016 - Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that further to its news release of July 26, 2016, Durango has received highly encouraging assay results from its reconnaissance program at its 100%-owned Dianna Lake Silver Prospect in northern Saskatchewan.
Durango’s team was successful in locating and mapping nearly all historical drill holes, pits, and trenches. In addition, several new silver, copper, and gold-bearing showings were discovered during the reconnaissance program.
The reconnaissance program encountered high-grade silver and copper anomalies which assayed up to 457.0 g/t Ag and 0.72% Cu over 0.30 m in channel samples taken from the main zone of historical workings, and up to 2.06% Cu in grab samples. The highest-grade copper values were returned from a historical trench 270 meters to the northeast of the main zone of historical workings. *
* Please see Table 1 and Table 2 for full summary and ranges of anomalous results.
A single grab sample taken from a newly-identified, gold-bearing showing returned 0.37g/t Au. This showing is located approximately 300 metres to the southwest of the main zone of historical workings, adjacent to an under-explored IP anomaly. Gold mineralization was also found to be associated with historically documented silver mineralization in one historical pit in the main zone, assaying 0.17g/t Au in a grab sample.
Historical Pit #1 was found to be mostly flooded with water up to 2 metres deep in places, as the adjacent swamp breached the edge of the pit. Based on the locations shown in the historical documentation, the highest grade material from the historical pits is likely submerged in the areas that were impossible to sample in the current program. However, the Company intends to dewater and fully sample the pit in the next exploration campaign. See Figure 1.
Channel Sampling Results
Six channels, designated as DLK-1 through DLK-6, were cut across separate outcrops, with continuous samples taken over 0.30-metre intervals. The first two channels (DLK-1 and DLK-2) were cut along historical Pit #1 and Pit #2 and returned high values of 379.0 g/t Ag and 457.0 g/t Ag, respectively. The remaining four channels were cut across various other outcrops. The locations of channels are illustrated in Figure 1.
Channel DLK-1 is located within, and parallel to the orientation of Pit #1, which yielded a historical sample of 2,458 oz/t Ag (1) (see section About Dianna Lake at the end of this release for full range of values). DLK-1 was sampled continuously at surface from 10.0 to 13.6 metres at 0.30 metre intervals, until reaching the edge of the water in the flooded area of the pit. Based on the locations shown in the historical documentation, the highest-grade material from this pit is likely submerged in the areas that were impossible to sample in the current program.
Of 16 continuous channel samples taken within DLK-1 and DLK-2, 9 samples assayed higher than 28 g/t Ag. In total, 31 channel samples were taken at 0.30 metre intervals within DLK-1 through DLK-6. Channels DLK-3 through DLK-6 did not return anomalous values above 5.0 g/t Ag and 0.1% Cu.
Channel sampling results are summarized in Table 1, below.
Table 1: Channel Sampling Highlights
|Channel||Orientation||Historical Pit||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (%)|
|DLK-1||090? (South)||Pit #1||11.2||13.3||2.1||0.0||93.7||0.02|
|DLK-2||090? (South)||Pit #2||2.0||3.2||1.2||0.0||199.5||0.59|
Grab Sampling Results
Out of a total of 20 grab samples taken in the survey, 11 samples returned anomalous silver, copper and/or gold values (shown below in Table 2). Grab sampling successfully identified several new showings at the Dianna Lake Prospect.
Newly-identified showings include outcrops at Sample 67080, located 90 metres to the northeast of the main zone, and Sample 67056, located 400 metres southwest of the main zone. Of particular interest was a grab sample taken from a historical trench located 270 metres to the north-northeast of the main zone, which assayed 43.0 g/t Ag and 2.06% Cu.
These results are summarized in Table 2, below. Sampling from the main zone of historical workings is highlighted in Figure 1.
Table 2: Grab Sampling Highlights
|Sample||Easting||Northing||Ag (g/t)||Cu (%)||Au (g/t)||Comment|
|67053||6617178||619626||9.0||0.41||0.00||Historical trench 270 metres north-northeast of main zone|
|67054||6617186||619645||43.0||2.06||0.00||Historical trench 270 metres north-northeast of main zone|
|67056||6617001||619545||33.0||1.00||0.00||New showing 400 metres southwest of main zone|
|67060||6616930||619370||13.0||0.00||0.00||100 metres west of main zone|
|67073||6616954||619484||9.0||0.30||0.17||Grab from Pit #2A|
|67078||6616944||619463||61.0||0.46||0.00||Pit #1 waste pile|
|67080||6616794||619075||54.0||0.57||0.00||90 metres northeast of main zone|
|85966||6616936||619516||6.0||0.11||0.00||10 metres north of Pit #7|
|85967||6616927||619514||24.0||0.21||0.00||Pit #7 (southeast main zone)|
|85968||6616927||619514||35.0||0.81||0.00||Pit #7 (southeast main zone)|
|85969||6616734||619279||0.00||0.00||0.37||New showing 300 metres southwest of main zone|
* All coordinates are NAD83 UTM Zone 12N
Cautionary statement: Readers are cautioned that grab samples are selective by nature and are not necessarily representative of mineralization hosted on the property.
Figure 1: Sampling Locations Within Historical Pit Area (Highlights)
Larger image available at: http://www.durangoresourcesinc.com/dianna-lake-silver-saskatchewan/
New Anomalous Gold Showings Identified
Two outcrop areas returned anomalous gold values which were not previously documented, indicating that silver mineralization at Dianna Lake is associated with some degree of gold mineralization.
One new showing, designated as “Deadshot”, is located 300 metres to the southwest of the historical workings and assayed 0.37g/t Au from a grab sample taken from a white to reddish biotite gneiss unit. This gold showing is located adjacent to an under-explored IP conductor.
Sample 67073 assayed 0.17 g/t Au and was taken from historical Pit #2A, within the main zone of historical workings. The sample exhibited strong malachite mineralization and iron oxide staining, as well as pervasive calcite veining.
These newly-discovered gold anomalies will warrant further exploration.
Marcy Kiesman, CEO of Durango, comments, “Our team is excited to receive anomalous assays returned from previously undocumented areas. The Dianna Lake Prospect was previously explored by Comaplex Resources which had a vast stable of high quality prospects – several which have been developed into projects such as Northquest’s (TSX.V-NQ) Pistol Bay Project. The impressive results from locations both within and outside of previously documented showings, pits, and trenches is compelling and anomalous gold values from the gneiss unit is particularly encouraging. These results may indicate the project’s potential to be greater than originally thought. We intend to follow up on these favourable results with a more detailed and extensive exploration program in the near future, including dewatering of historical trenches and pits.”
The Company’s geological team is presently constructing a model of the project data, including historical drill holes, which were not sampled in this reconnaissance program, as well as current results. Durango will provide more details as they become available.
Assays were performed at Activation Laboratories located in Thunder Bay, Ontario using package 1A3 Au/Ag fire assay gravimetric and package 1F2 total digestion ICP.
Durango would also like to announce that final acceptance was received from the TSX Venture Exchange for its non-brokered private placement of $266,000 as announced on June 22, 2016. All of the 2.63 million units issued are subject to a four-month hold period ending October 30 and 31, 2016, and December 10, 2016. No further tranches will close.
About Dianna Lake Silver, Saskatchewan
Durango’s Dianna Lake silver prospect covers an historical area in which, from 1968 to 1969, two-high grade, primarily native silver-bearing exploration targets of between 30,000 tonnes and 50,000 tonnes grading five to ten ounces per ton silver, approximately 600 meters apart, were determined by trench grab sample assays, according to an historical evaluation report composed for Comaplex Resources in 1980 (1)*.
* Potential quantities and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Additionally, the main silver-bearing zone is spatially associated with a large zone of low-grade, disseminated copper-silver mineralization in which drilling of two IP (induced polarization) anomalies indicated approximately five million tonnes averaging 0.4 ounce per ton silver and 0.4 per cent copper (undefined category historical resource estimate), according to the same report (1)**.
** A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves. Further work must be carried out to verify all historical information before a resource estimate is possible. Fourteen additional IP anomalies in the historical exploration area surrounding Dianna Lake and the nearby Doug Lake remain yet undrilled, according to the Comaplex Resources report (1), four of which occur within the property boundary of Durango’s Dianna Lake silver project.
Previous work on the claims was reported in 1969, 1980 and 1998 and included diamond drill holes, trenches and pits primarily across two zones where mineralization was identified at or near surface. One zone was reported to have five trenches exposing silver-copper mineralization over approximately 80 meters. Historical grab samples from pit No. 1 of this zone included ounce-per-ton silver values of 2,458.4, 684.4, 647.4, 600.2, 464.2 and 454.8 ounces per ton silver. Out of 18 grab samples, 13 samples assayed between 185 ounces per ton silver and 2,458.4 ounces per ton silver. Pit No. 2 grab samples returned reported highs of 298 ounces per ton silver and 197 ounces per ton silver (out of seven samples ranging from 12.2 ounces per ton silver to 298 ounces per ton silver) (1). (The company cautions that grab samples are selective and may not be representative of the mineralization on the property.)
The technical contents of this release were approved by Case Lewis, P.Geo., a consultant to the Company and a qualified person as defined by National Instrument 43-101. The Dianna Lake Property has not been the subject of an NI 43-101 report.
(1) “Evaluation report of the Dianna Lake silver-copper property, CBS 3141, S-97735 and S-97736, Uranium City area, Saskatchewan, Canada, for Comaplex Resources International Ltd.,” E.G. Kennedy, P.Eng., 1980.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi project, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
This document may contain or refer to forward-looking information based on current expectations, including commencement and completion of future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lithium Canada Launches Summer 2016 Lithium Pegmatite Phase One Exploration Program in Southeast Manitoba $PFN.ca
- Phase One Exploration Program to begin Summer 2016
- Program of Pegmatite Sampling, Prospecting and Mapping planned for the Lithium One, Lithman North and Lithman East Project
- Numerous historical Pegmatites to be tested for Lithium mineralization
- Summer Surface Exploration; objective to outline future Drill Programs
- Utilizing the Prospector Generator Model, the Company is currently seeking participation by interested Option/Joint Venture Partners for its Lithium Projects (see About the Company’s Business Model – Page 2)
Vancouver, BC / July 21, 2016 – Pacific North West Capital Corp. (“PFN”, the “Company”) (TSX-V: PFN; Frankfurt: P7J; OTCQB: PAWEF announces that its 100% owned subsidiary, Lithium Canada Developments will be conducting a Phase One Exploration Program, during the summer of 2016, on three Lithium Projects in southeast Manitoba.
A surface Phase One Exploration Program, consisting of Mapping, Prospecting and Sampling of known Pegmatites, on three of the company’s Lithium Projects, will begin during the summer of 2016. Presently, work permits have been submitted with the government and once granted, the field work will begin. The exploration program planned will lay the groundwork for future Exploration Plans and Drill Programs. Historic records in the region have indicated Lithium mineralization and mineralogy to be present in several Pegmatites, but at the time, exploration was being conducted for other commodities.
The three projects that are being explored this summer will be the Lithium One, Lithman North and Lithman East Projects. All three have previously mapped Pegmatites and are situated in the Winnipeg River Pegmatite Field. This Pegmatite Field hosts the world class Tanco Pegmatite, which has been mined from an underground operation, at the Tanco Mine Site in various capacities, since 1969. It once was one of the primary producers of Spodumene (a primary Lithium ore) in North America.
The Tanco Pegmatite is not exposed at surface, except for under Bernic Lake. It is an extremely fractionated, rare-metal, complex type-Petalite subgroup, LCT (Lithium-Cesium-Tantalum) Pegmatite, hosted in a late-stage, subvolcanic Gabbro. Current NI43-101 compliant resource calculations are not available for the Tanco Pegmatite. Academic publications have estimated the size of the deposit to be up to approximately 57 million tonnes. The last published mineral reserves (end of 1992) were 1.075 million tonnes of 0.12% Ta2O5, 3.5 million tonnes of 2.7% LiO2, and 315,000 tonnes of 23.3% Cs2O.
Lithium Canada Development Inc. (100% wholly owned Subsidiary of Pacific North West Capital); total land holding in SE Manitoba, as of July 2016: 6,181 hectares (15,274 acres).
Further announcements regarding potential Joint Ventures and other exploration initiatives, on the company’s Lithium Projects, in southeast Manitoba will be forthcoming.
About the Company’s Business Model
“Utilizing the Prospector Generator Model and an aggressive project Acquisition Program, management plans to provide our shareholders with the opportunity to explore and develop a number of Concurrent Exploration Projects. After an initial phase of exploration on our projects, our team plans to partner via Option/Joint Venture Agreements with Major and well-funded Junior companies that want exposure to the Lithium industry.
The Prospector Generator Model reduces risk, share dilution and increases Discovery Potential.”
About The Company’s Lithium Division
The company’s new Lithium Division will focus on the Discovery, Acquisition, Exploration and Development of Lithium Projects in Canada. In the United States, the company will use its wholly owned U.S.A subsidiary to Acquire and Develop projects, in active mining camp, in Nevada, Arizona and California.
Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends, with surging demands and limited supply. Going forward, this new Division will explore for the minerals needed, to fuel the demand for energy storage and other core 21st Century Technologies.
The company has a growing portfolio of Lithium Projects. The Clayton Valley Forks Li Project in Nevada is a recent Lithium Brine Project, acquired by the company (PFN News Releases: April 25th, 2016 and May 9th, 2016.) The company also has Hard Rock Lithium projects in Canada (PFN News Releases: April 21st, 2016, May 24th, 2016 and July 5th, 2016), located in the Winnipeg River Pegmatite Field of southeast Manitoba.
Lithium and Platinum Group Metal prices have improved dramatically in recent months. Lithium supplies remain in deficit, relative to their demand. Both metals groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Regarding Lithium, there is an ever increasing demand for batteries, in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
About the Company’s Platinum Group Metals Division
Achievements to date and future plans for River Valley are outlined below as follows:
- 1.PFN currently has 100% ownership in the River Valley Project, subject to a 3% NSR, with options to buy down;
- 2.Completed Exploration and Development Programs, on the River Valley property, include more than 600 holes drilled since year 2000 and several mineral resource estimates and metallurgical studies;
- 3.Results for the current (2012) mineral resource estimate are below;
- 4.2015 Drill Program confirms New High Grade T2 Discovery
- 5.Exploration and Development Plans outlined for 2016
- 6.Exploration and Development Plans outlined for 2016
- 7.Exploration and Development Plans outlined for 2016
- 8.Results for the most recent Metallurgical Testwork Study are summarized below:
– Prepared by Tetra Tech (Wardrop)
– High Confidence: Measured plus Indicated = 72% of total
– Reported on PdEq basis: Pd=40% & Pt=20% of the payable metals
– Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1
– High Grade potential, particularly in the north part of the River Valley deposit
– Resources under evaluation for development potential, as open pit mining operation
- 9.Results for the 2015 Discovery Drill Program, on the T2 Target are as follows:
– Drill hole intercepts much higher than the average grade of current mineral resource estimate
– Possible new mineralized zone at the north end of the River Valley deposit
– Show potential to take the River Valley PGM Project in a new direction
-More drilling required
Exploration and Development Plans for 2016:
-Mineral Prospecting and Geological Mapping on surface
-Drill Programs targeted to add more higher grade
-Geological interpretation and 2D/3D modeling of all drill and surface results
-Application to the OPA’s Junior Exploration Assistance Program (JEAP) for 33% refund
of all exploration expenditures up to $300,000.
-Ongoing Strategic Partner Search for River Valley
The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific Northwest Capital. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.
On behalf of the Board of Directors
” Harry Barr ”
Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements. This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.