Pacific North West provides Dana Lake drill results
Pacific North West Capital Corp PFN
Shares issued 16,175,375 Jan 10 close $0.71
Wed 10 Jan 2001 News Release
Mr. Harry Barr reports
A major diamond drilling program will commence on the River Valley project
in early February. The program will use two drill rigs in order to achieve
two principal objectives: firstly, to build up a bulk minable mineral
resource in the Dana Lake area, and secondly, to test induced polarization
and geological targets along the more than eight-kilometre long intrusive
contact.
The River Valley project is a platinum group metals target, situated 60
kilometres to the northeast of Sudbury, Ont. River Valley is principally a
palladium target (3:1 Pd:Pt). Palladium is currently trading at $1,051
(U.S.) per ounce. River Valley is a joint venture between Anglo American
Platinum Corp. Ltd. (Anglo Platinum) and Pacific North West Capital Corp.
(PFN). The project is 100 per cent financed by Anglo Platinum, the world's
largest platinum producer. PFN is the operator.
The 2001 exploration program will consist of two phases: phases 4 and 5.
Phase 4, to June, 2001, has a $2-million dollar budget, there will be a
minimum of 11,000 metres of diamond drilling, additional induced
polarization surveys, and stripping and sampling programs. Phase 5's (from
July, 2001, December, 2001) exploration program and budget with be
determined based upon phase 4 results.
In 2000, 40 drill holes were completed on the River Valley property; 37 at
the Dana Lake area and three at Lismer's ridge, located about 1.3
kilometres southeast of the Dana Lake area. The more significant drill
intersections are tabulated below.
Dana Lake area
RV-01 285W/500N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
41.72 84.00 42.28 111 507 1,630 37
incl.
41.72 45.15 3.43 219 1,228 4,108 83
incl.
72.25 80.00 7.75 204 867 2,629 61
RV-01 285W/500N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
41.72 84.00 42.28 2,285 2.29 .14 .02
incl.
41.72 45.15 3.43 5,638 5.64 .38 .04
incl.
72.25 80.00 7.75 3,761 3.76 .21 .03
RV-02 300W/450N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
93.20 141.50 48.30 87 466 1,488 28
incl.
93.20 113.45 20.25 143 812 2,549 49
incl.
104.20 108.90 4.70 203 1,346 3,767 71
RV-02 300W/450N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
93.20 141.50 48.30 2,069 2.07 .13 .02
incl.
93.20 113.45 20.25 3,553 3.55 .19 .02
incl.
104.20 108.90 4.70 5,387 5.39 .24 .04
RV-03 250W/400N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
104.50 127.35 22.85 92 507 1,717 32
RV-03 250W/400N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
104.50 127.35 22.85 2,348 2.35 .14 .03
RV-04 130W/325N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
40.80 56.50 15.70 98 487 1,609 23
RV-04 130W/325N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
40.80 56.50 15.70 2,217 2.22 .16 .03
RV-05 28.5W/297.3N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
24.80 54.50 29.70 108 547 1,766 41
incl.
37.10 49.60 12.50 167 778 2,456 60
RV-05 28.5W/297.3N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
24.80 54.50 29.70 2,462 2.46 .12 .02
incl.
37.10 49.60 12.50 3,461 3.46 .18 .03
RV-07 399W/550N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
123.10 221.00 97.90 77 364 1,148 27
incl.
199.20 221.00 21.80 134 634 2,161 58
RV-07 399W/550N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
123.10 221.00 97.90 1,616 1.62 .11 .02
incl.
199.20 221.00 21.80 2,987 2.99 .22 .04
RV-08 363.5W/600N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
17.10 147.60 130.50 69 290 836 18
incl.
102.70 147.60 44.90 97 412 1,212 27
incl.
119.00 147.60 28.60 116 509 1,523 36
RV-08 363.5W/600N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
17.10 147.60 130.50 1,213 1.21 .11 .02
incl.
102.70 147.60 44.90 1,748 1.75 .15 .03
incl.
119.00 147.60 28.60 2,184 2.18 .16 .03
RV-09 330W/500N
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
59.10 77.00 17.90 131 648 1,882 43
RV-09 330W/500N
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
59.10 77.00 17.90 2,704 2.70 .16 .02
RV-12 73.5W/215S
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
43.60 53.00 9.40 124 716 2,527 72
RV-12 73.5W/215S
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
43.60 53.00 9.40 3,439 3.44 .14 .02
RV-13 125W/175S
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
100.60 155.00 54.40 60 321 1,043 25
incl.
100.60 115.00 14.40 114 678 2,303 52
RV-13 125W/175S
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
100.60 155.00 54.40 1,449 1.45 .09 .02
incl.
100.60 115.00 14.40 3,147 3.15 .14 .03
RV-18 500N/460W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
250.00 265.00 15.00 148 780 2,102 70
incl.
253.60 261.20 7.60 235 1,213 3,426 106
incl.
253.60 256.80 3.20 348 1,696 4,771 146
RV-18 500N/460W
Total Total
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
250.00 265.00 15.00 3,100 3.10 .12 .02
incl.
253.60 261.20 7.60 4,980 4.98 .19 .03
incl.
253.60 256.80 3.20 6,961 6.96 .26 .04
RV-20 400N/300W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
180.00 211.60 31.60 72 350 1,074 34
incl.
180.00 195.85 15.85 89 491 1,552 47
RV-20 400N/300W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
180.00 211.60 31.60 1,530 1.53 .11 .02
incl.
180.00 195.85 15.85 2,179 2.18 .13 .03
RV-22 450N/340W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
173.50 223.00 49.50 101 529 1,551 41
RV-22 450N/340W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
173.50 223.00 49.50 2,222 2.22 .12 .02
RV-25 325N/175W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
69.20 97.80 28.60 63 303 868 25
incl.
70.00 81.10 11.10 79 452 1,378 40
incl.
71.50 77.30 5.80 97 606 1,936 53
RV-25 325N/175W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
69.20 97.80 28.60 1,259 1.26 .08 .02
incl.
70.00 81.10 11.10 1,949 1.95 .09 .02
incl.
71.50 77.30 5.80 2,692 2.69 .10 .02
RV-29 550N/250W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
incl.
137.00 150.50 13.50 146 658 1,816 -
incl.
143.60 150.50 6.90 191 896 2,504 -
RV-29 550N/250W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
incl.
137.00 150.50 13.50 2,620 2.62 .35 .03
incl.
143.60 150.50 6.90 3,592 3.59 .23 .04
RV-36 185S/185W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
incl.
126.50 234.85 108.35 127 569 1,735 -
incl.
126.50 149.30 22.80 168 827 2,566 -
incl.
138.75 149.30 10.55 183 1,021 2,928 -
incl.
186.15 194.95 8.80 385 1,658 5,173 -
RV-36 185S/185W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
incl.
126.50 234.85 108.35 2,430 2.43 .13 .03
incl.
126.50 149.30 22.80 3,561 3.56 .15 .03
incl.
138.75 149.30 10.55 4,132 4.13 .20 .04
incl.
186.15 194.95 8.80 7,216 7.22 .30 .05
RV-37 357N/222W
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
42.50 61.05 18.55 101 721 1,852 -
incl.
51.15 61.05 9.90 127 939 2,503 -
RV-37 357N/222W
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
42.50 61.05 18.55 2,673 2.67 .12 .02
incl.
51.15 61.05 9.90 3,569 3.57 0.15 0.03
Lismer's ridge
RV-38* 1375SE/681NE
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
incl.
27.25 53.35 26.10 35 214 339 -
incl.
34.50 44.55 10.05 54 337 539 -
incl.
43.50 44.55 1.05 89 484 1,243 -
RV-38* 1375SE/681NE
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
incl.
27.25 53.35 26.10 588 0.59 .06 .01
incl.
34.50 44.55 10.05 54 0.93 .09 .01
incl.
43.50 44.55 1.05 89 1.82 .28 .03
RV-39 1877.5SE/680NE
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
27.00 35.50 8.50 64 436 956 -
RV-39 1877.5SE/680NE
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
27.00 35.50 8.50 1,456 1.46 .09 .04
RV-40 1810SE/692.5NE
>From To Int. Au Pt Pd Rh
m m m ppb ppb ppb ppb
21.05 41.70 20.65 118 526 1,220 -
RV-40 1810SE/692.5NE
>From To Int. PGM PGM Cu Ni
m m m ppb g/t % %
21.05 41.70 20.65 1,864 1.86 .12 .02
*Correction to Oct. 25, 2000, release
Agnew property -- Sudbury, Ont. -- River valley "Replica"
A comprehensive exploration program, was completed on the Agnew property in
2000. The $275,000 program consisted of geological mapping, prospecting and
sampling, as well as induced polarization surveys, all of which were
concentrated along the perimeter of the mafic intrusion. Results are now
being evaluated and a substantial program is planned for 2001.
The company and partner New Millennium Metals Corp. (PGM) are currently in
negotiations with a major mining company in regard to their Agnew property.
Janes property -- Nipissing diabase target -- Sudbury, Ont.
Drilling will be carried out on the Janes project, located six kilometres
west of the River Valley project. Substantial platinum group metal values
were intersected by PFN in earlier drilling on the property. In addition,
the Janes property has potential for Cu-Ni massive sulphide mineralization.
The 2001 drilling program will focus on both the Cu-Ni and platinum group
metal potential.
The company has recently raised $912,750 in flow-through financing and as
of Jan. 8 has approximately $2.5-million in working capital.
The River Valley project is financed by Anglo Platinum. Anglo Platinum may
earn up to 65-per-cent interest in the project by providing financing
through to production.
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