Pacific North West Capital Corporation-PFN on Alberta Message Board

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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta

PFN 7.440

+0.1%

Dec 3 4:00 PM EST

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To: VAUGHN who wrote (1926)	8/9/2000 8:20:02 PM
From: Buckey	Read Replies (2) of 2255

Pacific North West to earn half of New Millennium property Pacific North West Capital Corp PFN Shares issued 16,175,375 Aug 9 close $1.23 Wed 9 Aug 2000 Also New Millennium Metals Corporation (PGM) Mr. Harry Barr reports Pacific North West Capital has recently entered into a letter agreement with New Millennium Minerals Corporation whereby it can acquire half of New Millennium's interest in the Shakespeare-Dunlop property which overlies the Shakespeare-Dunlop (Agnew Lake) layered mafic intrusion, situated 60 kilometres west of Sudbury, Ont. This intrusion is similar in age and composition to the River Valley intrusion and also carries substantial platinum group metals (PGM) values in intrusive breccias adjacent to its basal contact. The agreement calls for PFN to make cash payments to New Millennium totalling $200,000, to complete $500,000 in exploration expenditures over a period of four years, and to pay 50,000 PFN shares. PFN will shortly commence a regional induced polarization program on the property which will cover the 15-kilometre-long prospective basal intrusive contact. This will be followed by stripping and detailed sampling programs which will investigate specific geophysical targets. The primary target will be PGM mineralization in a comparable setting to that seen on PFN's River Valley property. By entering into this option agreement PFN now has substantial interests in two of the three layered mafic intrusions in the immediate Sudbury area (River Valley and Agnew Lake, East Bull Lake) that are most prospective for sulphide-associated PGM mineralization. (c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com

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