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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY
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To: Just G who wrote (153)3/7/2000 12:12:00 PM
From: Ptaskmaster  Read Replies (1) of 349
 
PFN and River Valley play getting attention in South Africa.-

"About 330 kilometers south of Wawa near the city of Sudbury, a platinum group metals play is in its infancy. Pacific North West Capital of Vancouver controls a sweeping 180km2 of land. Initial results attracted a $4.3-million exploration investment last August from South Africa's Anglo American Platinum Corporation, the world's largest platinum producer. In late February, the company began drilling its most promising property, River Valley. Grab samples from the site have measured up to 12.6 grams per tonne of platinum group metals, platinum, palladium and rhodium.

"Toronto's Mustang Minerals Corp. has joined the party, signing its own C$6-million deal with Impala Platinum, also of South Africa, in December. Pacific North West and Mustang shares have doubled in value since January.

"Ironically, much of the Sudbury area was explored decades ago - for nickel and copper - by Toronto's Inco and rival Falconbridge. The two companies have major nickel operations in the northern town.

"'PGMs are undeniably hot,' said Douglas Hickey, Pacific North West director. 'There's a bunch of juniors circling around to do an area play'."

From "Ontario mineral boom gives juniors much-needed lift" by Keith Damsell on Miningweb at Moneyweb
mny.co.za
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