Pacific North West River Valley assay results
Pacific North West Capital Corp PFN
Shares issued 16,175,375 Oct 13 close $0.60
Mon 16 Oct 2000 News Release
Mr. Harry Barr reports
Pacific North West Capital has received platinum group metal (PGM) assay
results from the first 10 holes (RV00-28 to RV00-37 inclusive) of the
recently completed 13-hole (RV00-28 to RV00-40), phase 3 diamond drill
program on the River Valley property situated 60 kilometres northeast of
Sudbury, Ont. Holes RV00-28 to RV00-37 are all collared in the Dana Lake
area towards the northern end of the property.
Of particular interest is the 108-metre (355-foot) intersection in RV00-36
grading 2.43 grams/tonne PGM (Pd+Pt+Au). This is the best mineralized
intersection on the River Valley property to date. This broad 108-metre
intersection also consists of several high-grade zones including 7.2 g/t
PGM over 8.8 metres (28.9 feet).
Holes RV00-38, 39 and 40 are collared in the Lismer's Ridge area,
approximately 1.5 km to the southeast of the South zone at the Dana Lake
area. Assay results from these three holes will be reported when received.
Dana Lake Area -- phase 3 results (grid location, length/dip/azimuth)
RV00-28 (550N/305W, 152m/-90/0)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
0.6 152.0 151.4 36.21 162.2 357.0 0.5
Including
55.5 97.9 42.3 68.8 284.2 669.0 1.0
55.5 59.0 3.4 60.1 304.9 877.4 1.2
56.7 57.4 0.6 217.0 1192.0 3635.0 5.0
65.5 73.3 7.8 53.8 350.4 982.1 1.4
84.0 96.3 12.3 123.7 345.5 834.3 1.3
93.5 96.6 3.1 120.8 588.5 1633.0 2.3
RV00-29 (550N/250W, 220m/-90/0)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
93.9 200.0 106.1 39.3 186.8 482.2 0.7
Including
114.4 188.4 74.0 55.9 261.0 682.6 1.0
123.5 128.0 4.5 84.6 397.3 1266.0 1.7
137.0 150.5 13.5 146.3 657.7 1816.0 2.6
143.6 150.5 6.9 191.2 896.1 2504.0 3.6
165.9 172.1 6.2 63.7 360.0 931.2 1.4
RV00-30 (450N/382W, 297.5m/-45/90)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
192.5 194.0 1.5 6.0 895.0 273.0 1.2
215.0 217.4 2.4 42.6 250.1 792.2 1.1
RV00-31 (150N/10W, 140.5m/-45/90)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
41.6 44.1 2.5 30.5 406.2 1136.9 1.6
58.5 60.3 1.8 9.3 470.3 834.6 1.3
116.5 117.5 1.0 36.0 321.2 708.2 1.1
RV00-32 (200N/68E, 104.0m/-45/270)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
15.4 16.0 0.6 146.0 491.0 2169.0 2.8
29.9 33.5 3.6 27.6 220.5 615.3 0.9
RV00-33 (325N/175W, 138.5m/-45/45)
16.8 24.6 7.7 47.6 321.6 889.2 1.3
Including
21.4 24.6 3.2 60.9 383.7 1156.3 1.6
RV00-34 (400N/83W, 226.0m/-70/270)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
173.0 177.0 4.0 42.1 298.2 838.9 1.2
Including
173.7 175.8 2.1 53.0 441.0 1244.0 1.7
RV00-36 (185S/185W, 248.0m/-45/90)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
60.5 234.8 174.3 86.1 396.9 1128.6 1.6
Including
126.5 234.8 108.3 127.1 568.7 1734.5 2.4
126.6 149.3 22.7 168.3 829.0 2572.4 3.6
138.7 149.3 10.5 182.6 1020.6 2928.4 4.1
156.3 173.7 17.4 151.8 589.7 1812.9 2.6
186.1 200.3 14.1 284.8 1369.2 4301.3 5.9
186.1 194.9 8.8 384.7 1657.5 5173.4 7.2
RV00-37 (357N/222W, 146.0m/-45/60)
>From To Inter- Au Pt Pd 3E*
(m) (m) val(m) ppb ppb ppb g/t
42.5 61.0 18.5 100.7 720.8 1851.6 2.7
Including
51.1 61.0 9.9 127.0 939.2 2502.8 3.6
and
81.5 87.7 6.2 44.9 236.3 779.5 1.1
*3E = Pt + Pd + Au
Hole RV00-36, collared at the South zone, was targeted to intersect 40
metres down-dip of the mineralization intersected in RV00-13 (3.2 g/t over
14.4 metres). The 108-metre-long intersection in RV00-36 grading 2.4 g/t,
demonstrates the excellent potential for a multimillion tonne PGM (platinum
group minerals) resource within the 10-kilometre-long intrusive contact
zone which extends through the property. The mineralization intersected in
RV00-36 lies at a vertical depth between 87 metres and 156 metres from
surface. The mineralization located up-dip from RV00-36, in holes RV00-11,
12 and 13, and exposed at the surface on the South zone clearing, is of a
respectable width and grade (RV00-12: 3.4 g/t over 9.4 metres) but gives no
indication of the extremely high grades encountered in RV00-36 (7.2 g/t PGM
over 8.8 metres) or the extent of mineralization at greater than 100 metres
below surface.
RV00-35 was targeted on an induced polarization anomaly to the east of the
intrusive, within the footwall environment. RV00-35 intersected
pyrite-bearing basement sediments and minor paragneiss over its entire
length and no significant values were intersected. Other holes drilled
within the main body of the intrusive indicate the variability in grade and
widths of mineralization, confirming the requirement for closely spaced
drill holes in order to develop a bulk tonnage deposit and to estimate
mineral resources with confidence.
A total of 37 holes (6,562 metres) have now been completed in the Dana Lake
area which have broadly outlined mineralized mafic breccia over a
900-metres strike length, to depths up to 190 metres and widths of 40
metres or more. Anglo American Platinum Corporation (Amplats) is currently
interpreting all surface sampling and drill assay data from this area and
is carrying out metallurgical and deposit modelling studies.
Lismer's Ridge
Drill holes RV00-38 to RV00-40 (216 metres) are collared approximately 1.5
kilometres southeast of the Dana Lake area and are in a comparable setting
adjacent to the intrusive contact. Recently concluded surface stripping and
sampling in this area have exposed mineralized mafic magmatic breccia up to
25 metres in width that is similar to that in the Dana Lake area.
Individual samples from the area targeted in this phase of drilling at
Lismer's Ridge assay as high as 6.8 g/t PGM. Details from this stripping
program and assay results from the recent drilling will be released
shortly.
PFN, in its capacity as program operator, has recently laid out a proposal
for consideration whereby exploration on the property will be greatly
expanded over the next 14 months with the objective of accelerating
exploration along the favourable contact.
Financing for exploration on the River Valley property is provided by
Amplats the largest producer of platinum group metals in the world. Amplats
may earn up to a 65-per-cent interest in the property by financing the
property through to production. Amplats has already contributed $20-million
in exploration funds, in addition to making PFN a $300,000 cash payment.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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