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Re: News Releases - Thursday, October 17, 2002
ONE MILLION OUNCE Pd-Pt-Au RESOURCE REPORTED AT RIVER VALLEY.
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Pacific North West Capital Corp. (TSX:PFN) is pleased to report the results
of a Mineral Resource Study recently completed on the River Valley platinum
group metal property located northeast of Sudbury, Ontario. The resource
study was completed by independent consultants Derry, Michener, Booth and
Wahl Consultants Ltd. (DMBW) and incorporates the results of the recently
completed 83 hole Phase 5 drill program from the Dana Lake and Lismer's
Ridge areas. The current resources lie within the northern half of the
property and cover less than 30% of the prospective project area.
Total Measured and Indicated Resources are 825,900 ounces palladium,
platinum and gold. In addition, there are Inferred Resources of 200,600
ounces palladium, platinum and gold, for a total of 1,026,500 ounces.
The consultants DMBW believe "that significant potential exists to increase
the near surface resources on the property through further drilling both
between and along strike from the currently defined mineralized zones".
PFN's President, Harry Barr, noted "Management is particularly pleased that
the mineral resources have significantly increased from the first estimate,
with contained ounces of Pd-Pt-Au in all resource categories now exceeding
one million ounces. The Company is now eagerly looking forward to
expanding this resource further by additional diamond drilling".
Please click on the link below to view the entire news release.
pfncapital.com |
