Pacific North West Capital Corp -
Pacific North West Sudbury field program results
Pacific North West Capital Corp
PFN
Shares issued 8,492,000
1999-09-28 close $0.45
Tuesday Sep 28 1999
Mr. Harry Barr reports
In addition to results from a number of other field programs now in
progress in the Sudbury region of Ontario, two new mineralized
zones have been discovered with grab samples of up to 10 grams
per tonne PGM (platinum group metals).
Pacific North West (PFN) is currently exploring properties covering
an area exceeding 40,000 acres in the Sudbury region. Most of the
programs are being financed by the world's largest platinum
producer, Anglo American Platinum Corporation (Amplats), through
a 100-per-cent owned subsidiary company, Kaymin Resources
Limited. PFN acts as operator. (For details of the agreement see
Stockwatch Aug. 4, 1999.)
Field programs will continue through to the end of October and
several drill programs are being planned in conjunction with this
work. The following is a project-by-project overview.
River Valley Project (AMPLATS agreement)
The River Valley property, located approximately 60 kilometres
northeast of Sudbury, overlies part of a large layered
gabbro-anorthosite intrusion that contains significant PGM values.
Detailed geological mapping, stripping, detailed sampling and
prospecting is currently in progress on the Dana Lake zone (grab
samples up to 12.6 g/t PGM = platinum+palladium+rhodium).
Exploration to date has significantly expanded the original areas of
mineralization which now extend intermittently over an area of
about 7.5 hectares (750 metres by 100 metres). Grab samples from
the expanded areas of mineralization include assays of 5.7 g/t, 7.6
g/t, 10.8 g/t and 11.7 g/t PGM. Detailed sampling over the expanded
areas is now in progress. Stripping and sampling is also in progress
at the second principal PGM showing located six km to the south at
Azen Creek (grab samples up to three g/t PGM). On completion of
detailed sampling, PFN will carry out orientation induced
polarization (IP) surveys across the Dana Lake and Azen Creek
zones, followed by grid IP and magnetometer/VLF-EM surveys.
New River Valley Discoveries
Preliminary mapping and prospecting of the entire River Valley
property commenced in August and has resulted in the discovery of
two new mineralized zones located one km northwest (Central Reef)
and 1.5 km northeast (EastReef) of the Azen Creek zone. Grab
samples assay up to 10 g/t PGM (Pt 4.2 g/t, Pd 5.6 g/t, Rh 0.23
g/t). As in the Dana and Azen Creek zones, rhodium remains an
important component in the total PGM. These new discoveries will
see additional detailed mapping and sampling over the next two
months. Initial results from the River Valley project are encouraging
and PFN anticipates the delineation of several drill targets on
completion of the current field programs.
Janes and Kelly Projects (Amplats agreement)
These two projects, located approximately 50 km northeast of
Sudbury, overlie PGM and copper/nickel mineralization that occurs
within Nipissing gabbro sills. A second phase drill program is
planned for the Janes project (option with Goldwright Explorations
Inc.). This drill program will test the down-dip extension of
significant PGM, copper and nickel values intersected in drilling
earlier this year (14.01 m of 1.11 per cent Cu and Ni and 2.70 g/t
Pt+Pd+Au). The earlier drilling demonstrated that mineralization
extends for at least 60 m down dip from surface trenches.
Blasting, trenching and sampling will be carried out shortly on the
Kelly project, located about 10 km northwest of the Janes project.
Preliminary grab samples from the Kelly project have returned
values up to 5.1 g/t combined PGM.
Summary
Initial exploration of the River Valley property has been encouraging
with additional mineralized areas continuing to be identified within
the property. A thorough evaluation of each mineralized area will be
undertaken as the field program progresses over the next two
months, leading to a comprehensive drill program.
Earlier this year, drilling on the Janes property produced significant
PGM, copper and nickel drill intercepts. These values confirm the
anomalous nature of the Nipissing gabbro and its potential to host
economic PGM-Cu-Ni sulphide deposits. In addition to drilling on
the Janes property, drill programs financed by an option agreement
with Consolidated Venturex Holdings Ltd. (CVA) will be conducted
on the Davis-Kelly and Sargesson Lake properties, as announced by
CVA in Stockwatch Sept. 20, 1999. PFN plans to complete three
drill programs by mid-November, 1999, and conduct extensive field
programs on other Sudbury region properties.
(c) Copyright 1999 Canjex Publishing Ltd.
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