This is an excellent update on the Sudbury area.
Pacific North West summarizes Sudbury projects
Pacific North West Capital Corp PFN
Shares issued 8,492,000 Nov 23 close $0.40
Tue 23 Nov 99 News Release
Mr. Harry Barr reports
Pacific North West Capital (PFN) has received a summary of work completed
to date on its Sudbury, Ont. platinum group metal (PGM) projects. PFN is
the program operator for several exploration projects in the Sudbury area
which are financed either by Anglo American Platinum Corporation Limited
(Amplats), the world's largest platinum producer, or Consolidated Venturex
Holdings Ltd (CVA), a Vancouver-based junior exploration company. In
addition, PFN carries out exploration on other properties in the area for
its own account.
Amplats option
Comprehensive exploration programs were carried out on several projects in
the Sudbury district which fall within the Amplats option.
A six-hole diamond drilling program was recently completed on the Janes
project, 50 kilometres northeast of Sudbury, where significant copper,
nickel and PGM values were reported by PFN following earlier drilling this
year. The objective of the phase 2 drilling was to expand the area of known
mineralization and to build a mineral resource. Drill core is now being
split and sampled, and assay results will be reported when available.
Prospecting and trenching was carried out on the Kelly project, and new
copper, nickel mineralization was discovered approximately 500 metres east
of the principal showing. Details of the new mineralization will be
reported in the next press release.
River Valley
PFN recently completed a major stripping and sampling program at the Dana
Lake zone of the River Valley project. This mineral zone is one of two
original PGM discoveries made in 1998 separated by a distance of six
kilometres.
Most River Valley exploration in 1999 concentrated on the Dana Lake zone,
within which five mineralized subzones (Road, North, Central, Trench and
South zones) were stripped and sampled. Approximately 850 diamond-sawed
samples, each approximately 25 centimetres long, five centimetres wide, and
five centimetres deep, were collected from the stripped areas on a regular
2.5-metre by 2.5-metre grid. Samples were taken at every point, regardless
of whether they contained visible sulphide. Assay results from this program
will be reported by mid-December.
Known mineralization at the Dana Lake zone occurs close to the eastern
margin of the River Valley intrusion. Mineralization is intermittently
exposed over an area approximately 700 metres (north-south) by 125 metres
(east-west), and these dimensions are likely to expand significantly with
additional stripping.
A recently completed orientation pole-dipole induced polarization (IP)
survey indicates that the exposed mineralization correlates with a strong
chargeability response. This anomalous region extends over an area
significantly larger than the current area of known surface mineralization.
Initial IP results also indicate that mineralization extends to a
significant depth, possibly 100 metres or more in certain areas. Full
details of the geophysical survey will be released in conjunction with the
assay report.
Although only minor prospecting was accomplished on the remainder of the
River Valley property this year, two additional zones of mineralization
were discovered approximately five kilometres south of the Dane Lake zone.
One of these zones, the Central Reef, was discovered by mapping geologists
from the Ontario Geological Survey and Laurentian University who reported
initial grab sample values up to 3.6 grams per tonne Pd, Pt and Au. Further
work by PFN discovered mineralization that assayed up to 10.2 g/t Pt, Pd
and Rh. Additional prospecting has identified an area of sulphide-bearing
rock at least 300 metres long by 50 metres wide. A second mineralized area
was located during the same mapping program approximately 400 metres
southeast of the South zone.
Much of the known mineralization found to date lies within the River Valley
intrusive close to or at its contact with older rocks. This favourable
contact area extends for a distance of about 14 kilometres through the
property, and will be a principal focus for exploration next year. Other
mineralized areas, such as Azen Creek, do not occur close to the intrusive
contact and may have a stratigraphic control (reef zones).
Consolidated Venturex option
Over the past three months, PFN has carried out prospecting, mapping and
diamond drilling on the Sargesson Lake and Davis-Kelly projects, east and
northwest, respectively, of the Janes project, where PFN previously
reported significant copper, nickel and PGM values.
A total of six diamond drill holes were recently completed on the Sargesson
Lake project, and five holes on the Davis-Kelly project. Both projects
overlie Nipissing Diabase sills that host significant copper, nickel and
PGM values. Core splitting and sampling is currently in progress and
results will be reported as soon as they become available.
Additional copper, nickel PGM showings were discovered on the Davis-Kelly
project following a short prospecting program late this fall. These new
showings will be discussed in the next press release.
Summary
Assays from the three recently completed drill programs and a full report
on the River Valley grid sampling and IP survey programs will be released
within the next several weeks. In summary, exploration programs completed
to date indicate several high priority targets in both Nipissing Diabase
and the River Valley intrusive, which will be examined as part of the
$1-million program planned for 2000.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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