- Announced the Company has formed a Strategic Advisory Board
- Chairman and CEO, Harry Barr stated; “Advisory Boards are powerful, long-term, strategic tools, if the advice from the Advisors is implemented by the Board and Corporate Management. Our existing Technical, Financial and Administrative Teams are all long term veterans…
August 31, 2016 / Vancouver, British Columbia – Pacific North West Capital Corp. (“PFN” the “Company”) (TSXV: PFN OTCQB: PAWEF FSE: P7J) is pleased to announce the Company has formed a Strategic Advisory Board.
Chairman and CEO, Harry Barr stated; “Advisory Boards are powerful, long-term, strategic tools, if the advice from the Advisors is implemented by the Board and Corporate Management. Our existing Technical, Financial and Administrative Teams are all long term veterans, within our industry; each one of us have contacts with like-minded professionals, who are presently being selected to assist our Company, through our various stages of development.”
Mr. Barr added: “After five very difficult years of no significant new discoveries, for the Metals and Mining Industries, a new era arrived in the spring of 2016. Due to increasing demand, diminishing metal supplies and recent dramatic price increases, for most commodities, Mining and Metals Investors have returned. Most of these Investors have made significant gains in the major and mid-tier sectors and are now placing their capital into Junior Mining Companies, with Proven Management, Advanced Stage Projects and New Commodity Trends. Our Shareholders and Potential Investors should expect announcements of several key individuals, for both the Advisory Board and additions to our Management Team, over the coming months. These individuals will have spent their adult working careers, focused specifically in our industry.”
PFN is once again in a major growth trend, due in part to the addition of a new Lithium Division and the current and planned Exploration Programs on the Company’s existing Platinum Group Metals Division, more specifically; the Company’s 100% owned PGM River Valley Project/River Valley Extension, both of which are located in the Sudbury Mining District, of Ontario.
About PFN’s Platinum Group Metals Division
River Valley is Canada’s Largest Undeveloped Primary PGM Deposit.
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.Ongoing Strategic Partner Search for River Valley Project
- 7.Results for the most recent Mineral Resource Estimate 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
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- 8.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
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- 9. Exploration and Development Plans for 2016
Figure 1: Geological map showing the location of the PGM Exploration Property, acquired from Mustang Minerals Corp. The acquired property is south and adjacent to PFN’s Mining Leases, covering the River Valley PGM Project. The acquisition increases the strike length of the PGM deposit, to 16 km, 64 km2, or 16,000 acres, on PFN property.
About PFN’s Lithium Division
The Company’s 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 Camps, 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 (see PFN News Releases: April 25th, 2016 and May 9th, 2016).
The Company also has several Hard Rock Lithium Projects in Canada: To date the Company has Acquired 4 Hard Rock Lithium Projects, in the Winnipeg River Pegmatite Field, in SE Manitoba (see PFN News Releases: April 21st 2016, May24th, 2016, June 15th, 2016, July 5th, 2016 and July 21st, 2016). This Pegmatite Field hosts the giant Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. Today, the Tanco Mine is focused on the Mining and Production of Cesium Formate, a drilling fluid for the petroleum industry. PFN’s Li Projects are strategically situated to further Explore this Pegmatite Field. Presently, the Company is the Largest Claim Holder in the Winnipeg River Pegmatite Field.
Lithium and Platinum Group Metal Prices have improved drastically 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.
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PFN’s 5 New Lithium Projects in Manitoba, Surrounding Tanco Mine
Figure 1: Company claim blocks in the Clayton Valley area of Nevada
(Figure 1 is a Company-made composite and not intended for redistribution.
The Company accepts no responsibility for the accuracy of these claim blocks, other than the claim block associated with the Clayton Valley Forks Li Project)
Clayton Valley is located in Esmeralda County, Nevada, host to the Albemarle Corporation’s Silver Peak Lithium Mine and Brine processing operations. The mine has been in operation since 1967 and remains the only Brine based Lithium Producer in North America. The new project acquisition in Nevada provides the Company a project, in an area that is well known for its Lithium Carbonate production. Clayton Valley is a centralized location in Nevada, with highway access, power infrastructure, water and local labour.
The company’s new Lithium Brine Project will be approximately 3.5 hours away from Tesla’s Gigafactory, which has a planned annual Lithium-ion battery production capacity of 35 gigawatt-hours per year, by 2020. The CV West Li project is located approximately 3 hours north of the Faraday Electric Car Factory to be operated in Las Vegas, Nevada.
Clayton Valley is one of the few locations globally known to contain commercial-grade Lithium-Enriched Brines.
QUALIFIED PERSON
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”
Harry G. 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.
