Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: John E.Quinn who wrote (54)	11/3/1999 5:28:00 PM
From: Just G	Respond to of 349

John: Thank-you for posting this. Sounds like we finally have an area play. Regards G

To: John E.Quinn who wrote (54)	11/9/1999 8:19:00 PM
From: Just G	Respond to of 349

This views the River Valley, excellent article. Please follow the link below to read a new (Nov 8/99) report on Pacific North West Capital, written by Brent Cook, mining analyst for Global Resource Investments Ltd. augoldgroup.com (Adobe Acrobat Format)

To: John E.Quinn who wrote (54)	11/23/1999 6:53:00 PM
From: Just G	Read Replies (1) \| Respond to of 349

This is an excellent update on the Sudbury area. Pacific North West summarizes Sudbury projects Pacific North West Capital Corp PFN Shares issued 8,492,000 Nov 23 close $0.40 Tue 23 Nov 99 News Release Mr. Harry Barr reports Pacific North West Capital (PFN) has received a summary of work completed to date on its Sudbury, Ont. platinum group metal (PGM) projects. PFN is the program operator for several exploration projects in the Sudbury area which are financed either by Anglo American Platinum Corporation Limited (Amplats), the world's largest platinum producer, or Consolidated Venturex Holdings Ltd (CVA), a Vancouver-based junior exploration company. In addition, PFN carries out exploration on other properties in the area for its own account. Amplats option Comprehensive exploration programs were carried out on several projects in the Sudbury district which fall within the Amplats option. A six-hole diamond drilling program was recently completed on the Janes project, 50 kilometres northeast of Sudbury, where significant copper, nickel and PGM values were reported by PFN following earlier drilling this year. The objective of the phase 2 drilling was to expand the area of known mineralization and to build a mineral resource. Drill core is now being split and sampled, and assay results will be reported when available. Prospecting and trenching was carried out on the Kelly project, and new copper, nickel mineralization was discovered approximately 500 metres east of the principal showing. Details of the new mineralization will be reported in the next press release. River Valley PFN recently completed a major stripping and sampling program at the Dana Lake zone of the River Valley project. This mineral zone is one of two original PGM discoveries made in 1998 separated by a distance of six kilometres. Most River Valley exploration in 1999 concentrated on the Dana Lake zone, within which five mineralized subzones (Road, North, Central, Trench and South zones) were stripped and sampled. Approximately 850 diamond-sawed samples, each approximately 25 centimetres long, five centimetres wide, and five centimetres deep, were collected from the stripped areas on a regular 2.5-metre by 2.5-metre grid. Samples were taken at every point, regardless of whether they contained visible sulphide. Assay results from this program will be reported by mid-December. Known mineralization at the Dana Lake zone occurs close to the eastern margin of the River Valley intrusion. Mineralization is intermittently exposed over an area approximately 700 metres (north-south) by 125 metres (east-west), and these dimensions are likely to expand significantly with additional stripping. A recently completed orientation pole-dipole induced polarization (IP) survey indicates that the exposed mineralization correlates with a strong chargeability response. This anomalous region extends over an area significantly larger than the current area of known surface mineralization. Initial IP results also indicate that mineralization extends to a significant depth, possibly 100 metres or more in certain areas. Full details of the geophysical survey will be released in conjunction with the assay report. Although only minor prospecting was accomplished on the remainder of the River Valley property this year, two additional zones of mineralization were discovered approximately five kilometres south of the Dane Lake zone. One of these zones, the Central Reef, was discovered by mapping geologists from the Ontario Geological Survey and Laurentian University who reported initial grab sample values up to 3.6 grams per tonne Pd, Pt and Au. Further work by PFN discovered mineralization that assayed up to 10.2 g/t Pt, Pd and Rh. Additional prospecting has identified an area of sulphide-bearing rock at least 300 metres long by 50 metres wide. A second mineralized area was located during the same mapping program approximately 400 metres southeast of the South zone. Much of the known mineralization found to date lies within the River Valley intrusive close to or at its contact with older rocks. This favourable contact area extends for a distance of about 14 kilometres through the property, and will be a principal focus for exploration next year. Other mineralized areas, such as Azen Creek, do not occur close to the intrusive contact and may have a stratigraphic control (reef zones). Consolidated Venturex option Over the past three months, PFN has carried out prospecting, mapping and diamond drilling on the Sargesson Lake and Davis-Kelly projects, east and northwest, respectively, of the Janes project, where PFN previously reported significant copper, nickel and PGM values. A total of six diamond drill holes were recently completed on the Sargesson Lake project, and five holes on the Davis-Kelly project. Both projects overlie Nipissing Diabase sills that host significant copper, nickel and PGM values. Core splitting and sampling is currently in progress and results will be reported as soon as they become available. Additional copper, nickel PGM showings were discovered on the Davis-Kelly project following a short prospecting program late this fall. These new showings will be discussed in the next press release. Summary Assays from the three recently completed drill programs and a full report on the River Valley grid sampling and IP survey programs will be released within the next several weeks. In summary, exploration programs completed to date indicate several high priority targets in both Nipissing Diabase and the River Valley intrusive, which will be examined as part of the $1-million program planned for 2000. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com