Pacific North West receives Lismer's Ridge results
Pacific North West Capital Corp PFN
Shares issued 16,175,375 Oct 24 close $0.71
Wed 25 Oct 2000 News Release
Mr. Harry Barr reports
Pacific North West Capital has released platinum group metal (PGM) assay
values from three diamond drill holes collared at Lismer's Ridge, located
1.5 kilometres southeast of the Dana Lake zone on the River Valley
property. PGM-bearing mafic magmatic breccias, comparable in width and
grade with those exposed on surface in the Dana Lake area, have been
exposed intermittently along the intrusive contact in the Lismer's Ridge
area over an 800-metre (2,625-foot) strike length. To the north, in the
Dana Lake area, mineralized breccias extend over an additional 900-metre
(2,953-foot) strike length and to a depth of at least 190 metres.
Dana Lake and Lismer's Ridge are the only two areas of the prospective
10-kilometre-long intrusive contact within the property that have been
explored by detailed surface sampling and drilling.
Phase 3 drill holes RV-38, RV-39 and RV-40 were collared to intersect the
down dip extension of outcropping PGM-bearing sulphides in magmatic
breccia. Results from surface sampling in the Lismer's Ridge area have
recently been reported in Stockwatch on Oct. 23. Each of the three holes
intersected mineralization with significant PGM grades and widths.
Lismer's Ridge --
[grid location, length/dip/azimuth]
RV00-38 [1375SE/681NE, 71.0m/-45/45]
From To Int Int
(m) (m) (m) (ft)
27.25 63.30 36.05 118.28
incl. 33.70 53.35 19.65 64.47
incl. 34.50 44.55 10.05 32.97
incl. 43.50 44.55 1.05 3.45
Au Pt Pd 3E*
(ppb) (ppb) (ppb) (g/t)
184.47 306.57 522.87 1.01
incl. 235.79 398.15 676.46 1.31
incl. 337.42 538.68 929.61 1.81
incl. 483.52 1242.81 1815.57 3.54
RV00-39 [1877.5SE/680NE, 77.0m/-45/45]
From To Int Int
(m) (m) (m) (ft)
27.00 67.60 40.60 133.21
incl. 27.00 35.50 8.50 27.89
Au Pt Pd 3E*
(ppb) (ppb) (ppb) (g/t)
34.52 195.64 412.85 0.64
incl. 63.78 435.79 956.45 1.46
RV00-40 [1810SE/692.5NE, 68.0m/-45/45]
From To Int Int
(m) (m) (m) (ft)
21.05 41.70 20.65 67.75
incl. 25.65 41.70 16.05 52.66
incl. 37.00 41.00 4.00 13.12
Au Pt Pd 3E*
(ppb) (ppb) (ppb) (g/t)
117.50 526.09 1220.11 1.86
incl. 140.08 595.54 1408.61 2.14
incl. 153.75 910.75 2427.75 3.49
*3E equals platinum plus palladium plus gold.
Anomalous PGM values (greater than 200 parts per billion) extend over much
wider intervals of the intersected breccia than those in the specific
intervals reported above.
As in the Dana Lake area, mineralized breccia at Lismer's Ridge parallels
the intrusive contact and widths and grades of mineralization are
comparable. Significant PGM values were intersected between vertical depths
of 15 metres and 45 metres, which can be correlated with the mineralized
outcrops.
Much additional drilling will be required to determine the ultimate strike
length and depth extent of the mineralization, however these shallow test
holes constitute a promising start to the evaluation of the Lismer's Ridge
area. One of the next target areas for detailed sampling is the Varley
showing, where a limited number of grab samples collected in 1999 assayed
up to 10.4 grams per tonne Pt+Pd+Au. The Varley showing, located about 3.2
kilometres southeast of drill hole RV-39, appears to occur within the same
contact environment as the Dana Lake area and Lismer's Ridge.
Financing for exploration on the River Valley property is provided by Anglo
American Platinum Corporation. Amplats may earn up to a 65-per-cent
interest in the property by financing it through to commercial production.
Amplats has already contributed $2-million in exploration financing to the
property in addition to paying Pacific North West $300,000.
Pacific North West has been notified that the Securities and Exchange
Commission has no further comments on the Form 20F at this time.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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