PHASE III DRILLING UNDERWAY
This just in from CSW...
Pacific to begin Phase 3 drilling at River Valley
Pacific North West Capital Corp PFN
Shares issued 16,175,375 Aug 31 close $0.90
Fri 1 Sept 2000 News Release
Mr. Harry Barr reports
A Phase 3 diamond drilling program on the River Valley platinum-group metal
(PGM) property has commenced during the first week of September.
The Phase 3 drill program will test targets at Dana Lake in the main
mineralized area between line 600 N and 200 S. It will also include
preliminary testing of the mineralized magmatic breccias exposed by recent
stripping in the Lismer's Ridge area located approximately one kilometre to
the southeast of the Dana Lake area. Individual samples from this area
assay as high as 6.9 grams per tonne PGM (Pt+Pd+Au).
The company will shortly report the results of detailed outcrop sampling
carried out on line 600 N and 700 N at Dana Lake and more recently
completed detailed sampling from the Lismer's Ridge area.
Induced polarization surveys are continuing, aimed at completing regional
geophysical coverage of the favourable intrusive contact area north of the
Dana Lake Area and several kilometres southeast of Lismer's Ridge toward
the eastern property boundary. Downhole induced polarization surveys are
also being completed in the Dana Lake area on drill holes collared north of
line 500 N.
Complete assay results from the Phase 2 drill holes, RV00-14 to RV00-27
inclusive, are tabulated below and include rhodium and copper-nickel values
that were not previously reported (Aug. 9th, 2000).
Holes RV00-15, RV00-16, RV00-18 to RV00-22, RV00-25 and RV00-27 are
previously reported in Stockwatch news, Aug. 9, 2000.
RV00-03 (400N/250W) 161 metres
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
152.00 167.00 15.00 39 251 1,209
incl.
155.60 163.25 7.65 38 341 1,939
incl.
160.70 164.30 3.60 55 345 1,411
na = not analyzed
RV00-03 (400N/250W) 161 metres
>From To Int. Rh Ttl PGM
(m) (m) (m) (ppb) (ppb)
152.00 167.00 15.00 na 1,499
incl.
155.60 163.25 7.65 na 2,318
incl.
160.70 164.30 3.60 88 1,898
na = not analyzed
RV00-03 (400N/250W) 161 metres
>From To Int. Cu Ni
(m) (m) (m) (%) (%)
152.00 167.00 15.00 0.042 0.031
incl.
155.60 163.25 7.65 0.054 0.046
incl.
160.70 164.30 3.60 0.071 0.058
na = not analyzed
RV00-14 (650N/412.8W) 211 metres
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
131.20 134.50 3.30 19 509 711
incl.
133.30 134.50 1.20 27 1,080 1,502
RV00-14 (650N/412.8W) 211 metres
>From To Int. Rh Ttl PGM
(m) (m) (m) (ppb) (ppb)
131.20 134.50 3.30 96 1,335
incl.
133.30 134.50 1.20 217 2,826
RV00-14 (650N/412.8W) 211 metres
>From To Int. Cu Ni
(m) (m) (m) (%) (%)
131.20 134.50 3.30 0.004 0.019
incl.
133.30 134.50 1.20 0.003 0.006
RV00-17 (600N/230.5W) 178 metres
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
82.50 103.00 20.50 31 159 448
incl.
95.00 101.50 6.50 56 300 961
RV00-17 (600N/230.5W) 178 metres
>From To Int. Rh Ttl PGM
(m) (m) (m) (ppb) (ppb)
82.50 103.00 20.50 19 657
incl.
95.00 101.50 6.50 30 1,347
RV00-17 (600N/230.5W) 178 metres
>From To Int. Cu Ni
(m) (m) (m) (%) (%)
82.50 103.00 20.50 0.049 0.013
incl.
95.00 101.50 6.50 0.077 0.019
RV00-23 (715N/260W) 141.5 metres
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
82.50 103.00 20.50 31 159 448
78.50 80.80 2.30 128 205 166
102.50 104.00 1.50 20 165 212
RV00-23 (715N/260W) 141.5 metres
>From To Int. Rh Ttl PGM
(m) (m) (m) (ppb) (ppb)
82.50 103.00 20.50 19 657
78.50 80.80 2.30 6 504
102.50 104.00 1.50 15 412
RV00-23 (715N/260W) 141.5 metres
>From To Int. Cu Ni
(m) (m) (m) (%) (%)
78.50 80.80 2.30 0.237 0.043
102.50 104.00 1.50 0.012 0.007
RV00-24 (715N/376.4W) 147 metres
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
82.50 103.00 20.50 31 159 448
37.00 37.80 0.80 44 310 601
48.50 50.00 1.50 17 413 694
59.80 61.50 1.70 37 220 559
70.50 71.00 0.50 19 417 1,000
RV00-24 (715N/376.4W) 147 metres
>From To Int. Rh Ttl PGM
(m) (m) (m) (ppb) (ppb)
82.50 103.00 20.50 19 657
37.00 37.80 0.80 21 976
48.50 50.00 1.50 19 1,143
59.80 61.50 1.70 - 816
70.50 71.00 0.50 36 1,472
RV00-24 (715N/376.4W) 147 metres
>From To Int. Cu Ni
(m) (m) (m) (%) (%)
78.50 80.80 2.30 0.237 0.043
37.00 37.80 0.80 0.105 0.016
48.50 50.00 1.50 0.020 0.019
59.80 61.50 1.70 0.084 0.008
70.50 71.00 0.50 0.026 0.004
The Phase 2 drill results indicate that magmatic breccia-hosted PGM-Cu-Ni
mineralization extends to a vertical depth of at least 180 metres (591
feet) and remains open to depth. The dip of the breccia unit varies from 70
degrees west to 70 degrees east. No drilling was carried out south of the
mineralized intercept in RV00-12 (Phase 1) and mineralization remains open
toward the south.
Results of the Phase 1 and 2 drilling programs indicate that the main body
of mineralization extends, at least intermittently, between Lines 600 N and
215 S, and parallels the intrusive contact for a distance of at least 900
metres (2,953 feet).
The River Valley Project is financed through an agreement with Anglo
American Platinum Corporation Limited ("Amplats"), the world's largest
platinum producer, which can earn a 50-per-cent interest in various PFN
properties in the Sudbury area by paying $300,000 for the option (payment
made) and spending $4-million on exploration; a 60-per-cent interest by
completing a feasibility study; and 65 per cent by financing the property
through to production. In addition to financing, Amplats is providing PFN
with technical expertise in its search for PGM deposits. PFN remains
operator of the projects. Amplats is financing a minimum $1.5-million
exploration program on River Valley and other PFN projects in 2000.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
(c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com |
