Frank:
I am going to re-post this, this format is easier to read, and she's proven now...
Pacific North West receives River Valley results
Pacific North West Capital Corp PFN
Shares issued 8,492,000 May 2 close $2.39
Wed 3 May 2000 News Release
Mr. Harry Barr reports
Pacific North West Capital has completed its assay results from drill holes
RV-8 to RV-13 on the River Valley project, which is road accessible and
located 60 kilometres northeast of Sudbury.
The River Valley project is financed through an agreement with Anglo
American Platinum Corporation Limited (Amplats), the world's largest
platinum producer, which can earn a 50-per-cent interest in various PFN
properties in the Sudbury area by paying $300,000 for the option (payment
made) and spending $4-million on exploration; a 60-per-cent interest by
completing a feasibility study; and 66 per cent by financing the property
through to production. In addition to financing, Amplats is providing PFN
with technical expertise in its search for platinum group metal deposits.
PFN remains operator of the projects. Amplats is financing a minimum
$1-million exploration program on River Valley and other PFN projects in
2000.
Every hole in the 13-hole phase I program intersected significant platinum
group metal values over substantial core lengths. Hole RV-8, the most
northerly hole drilled, intersected the longest mineralized section in the
drill program, with an intercept of 130.5 metres (428.2 feet) of 1.21 grams
per tonne PGM (Pt+Pd+Au+Rh) which includes higher grade intersections of
7.2 metres (23.6 feet) of 3.42 g/t PGM, 0.16 per cent Cu, 0.02 per cent Ni
and 28.6 metres (93.8 feet) of 2.18 g/t PGM, 0.17 per cent Cu, 0.03 per
cent Ni.
Mineralization is associated with an induced polarization (IP)
chargeability anomaly that extends north of RV-8 for an additional 300
metres (984 feet) and is open to the northwest and northeast.
Mineralization in the Dana Lake North area has been outlined over a strike
length of approximately 500 metres (1,640 feet) between holes RV-8 and
RV-6.
Drill holes RV-11, 12 and 13 are step-out holes located 400 metres (1,300
feet) south of RV-6 to test mineralization exposed at the surface at the
South zone. These holes all intersected significant PGM values over a
76-metre (246-foot) strike length which is open to the north and south. The
South zone mineralization lies in a comparable setting to that drilled
further north, within coarse breccia units subparallel to, and within 100
metres of the mafic intrusive contact.
Stripping and sampling carried out at the Trench zone, located midway
between RV-6 and RV-11, delineated significant PGM values (up to 13.17 g/t
Pt+Pd+Rh+Au). It is inferred that mineralization extends along the
favourable intrusive contact between RV-8 and RV-12 for a distance of 1,100
metres (3,600 feet). If the IP chargeability anomaly extending north from
the area of RV-8 reflects underlying mineralization, as it does to the
south, then the strike length of the mineralization could extend even
further, particularly as mineralization remains open to the south of RV-12.
Mineralization is interpreted to dip at 50 degrees to 85 degrees to the
southwest and to strike parallel to the intrusive contact, northwesterly in
the north and north-south at the South zone.
Induced polarization surveys are in progress north and west of L900N and
also in the area between holes RV-6 and RV-11.
The regional IP program also covers the prospective contact area south of
the South zone and southeast to the Central Reef area, where grab samples
assay up to 10.4 g/t PGM, a distance of approximately five kilometres.
A phase 11 drill program will commence in the Dana Lake area when
interpretation of the IP survey has been completed. The objective of the
drill program will be two-fold; an infill program to define the extent of
the mineralization and give a indication of deposit geometry; and to test
surface mineralization and new IP targets. Further stripping and sampling
is planned for the Dana Lake area and areas of high IP chargeability over
the coming months.
The drilling demonstrates predictable grade to depth with significant
high-grade intercepts over broad, lower-grade intersections. Samples of
mineralized core are being sent to Amplats for mineralogical and
metallurgical studies. Amplats Is also planning to carry out preliminary
resource assessment studies.
Lac des Iles comparison
The target on the River Valley property is a postulated multimillion tonne
bulk tonnage deposit of a size and grade comparable with that recently
reported by North American Palladium Ltd. for its Lac des Iles property
near Thunder Bay, Ont. (proven plus probable 74.2 metric tonnes at 1.64 g/t
Pd, 0.18 of a g/t Pt, 0.14 of a g/t Au, 0.066 per cent Cu, and 0.055 per
cent Ni). North American Palladium has recently received a $90-million loan
to finance the expansion of its Lac des Iles mine, enabling it to triple
annual palladium production to 250,000-ounce Lac des Iles mine is the only
primary PGM producer in Canada and one of only two in North America. The
unit cost of accountable palladium production over the mine life, net of
credits and excluding royalty, is estimated at $131 (U.S.) per ounce.
Today's prices: Platinum $477 (U.S.), Palladium $568 (U.S.) and Rhodium
$1,550 (U.S.).
NEW RESULTS
RV-08 to RV-13
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
RV-08 (363W/600N) -- 45 degrees
17.10 147.60 130.50 69 290 836
incl.
17.10 24.30 7.20 167 788 2,412
incl.
102.70 147.60 44.90 97 412 1,212
incl.
119.00 147.60 28.60 116 509 1,523
RV-09 (330W/500N) -- 45 degrees
59.10 77.00 17.90 131 648 1,882
incl.
68.00 77.00 9.00 251 1,124 3,491
104.10 117.70 7.60 81 400 1,341
RV-10 (258W/450N) -- 45 degrees
26.75 112.50 85.75 67 314 927
incl.
68.30 98.00 29.70 129 653 2,185
incl.
92.00 97.45 5.45 215 1,165 4,251
RV-11 (117W/150S) -- 45 degrees
45.00 95.90 50.90 45 236 747
incl.
47.00 57.00 10.00 108 675 2,305
RV-12 (73W/215S) -- 45 degrees
43.60 53.00 9.40 123 716 2,527
RV-13 (125W/175S) - 45 degrees
100.60 155.00 54.40 60 321 1,043
incl.
100.60 115.00 14.40 114 678 2,303
incl.
121.65 130.00 8.35 113 637 1,765
NEW RESULTS
RV-08 to RV-13
Total
>From To Rh PGM* Cu Ni
(m) (m) (ppb) (g/t) (%) (%)
RV-08 (363W/600N) -- 45 degrees
17.10 147.60 18 1.21 0.11 0.02
incl.
17.10 24.30 52 3.42 0.16 0.02
incl.
102.70 147.60 27 1.75 0.15 0.03
incl.
119.00 147.60 36 2.18 0.17 0.03
RV-09 (330W/500N) -- 45 degrees
59.10 77.00 43 2.71 0.17 0.02
incl.
68.00 77.00 84 4.95 0.32 0.04
104.10 117.70 24 1.85 0.19 0.03
RV-10 (258W/450N) -- 45 degrees
26.75 112.50 24 1.33 0.01 0.02
incl.
68.30 98.00 59 3.03 0.19 0.03
incl.
92.00 97.45 100 5.73 0.47 0.08
RV-11 (117W/150S) -- 45 degrees
45.00 95.90 23 1.05 0.08 0.02
incl.
47.00 57.00 63 3.15 0.20 0.04
RV-12 (73W/215S) -- 45 degrees
43.60 53.00 72 3.44 0.22 0.03
RV-13 (125W/175S) -- 45 degrees
100.60 155.00 25 1.45 0.07 0.02
incl.
100.60 115.00 52 3.15 0.11 0.02
incl.
121.65 130.00 42 2.46 0.15 0.03
PREVIOUS RESULTS
RV-01 to RV-07
>From To Int. Au Pt Pd
(m) (m) (m) (ppb) (ppb) (ppb)
RV-01 (285W/500N)
34.10 96.00 61.90 92 412 1,297
incl.
41.72 84.00 42.28 111 507 1,630
incl.
41.72 45.15 3.43 219 1,228 4,108
incl.
72.25 80.00 7.75 204 867 2,629
incl.
89.28 96.00 6.72 38 245 725
RV-02 (300W/450N)
93.20 141.50 48.30 87 466 1,488
incl.
93.20 113.45 20.25 143 812 2,549
incl.
94.90 98.50 3.60 260 1,571 4,948
incl.
104.20 108.90 4.70 203 1,346 3,767
RV-03 (250W/400N)
104.50 127.35 22.85 92 507 1,717
incl.
118.5 127.35 8.85 109 650 2,350
155.60 160.70 5.10 32 349 2,133
RV-04 (130W/325N)
28.55 56.50 27.95 72 357 1,156
incl.
40.80 56.50 15.70 98 487 1,609
RV-05 (28W/297N)
24.80 54.50 29.70 108 547 1,766
incl.
24.80 30.20 5.40 97 631 2,420
incl.
37.10 49.60 12.50 167 778 2,456
incl.
37.10 43.30 6.20 220 1,044 3,378
PREVIOUS RESULTS
RV-01 to RV-07
Total
>From To Rh PGM* Cu Ni
(m) (m) (ppb) (g/t) (%) (%)
RV-01 (285W/500N)
34.10 96.00 29 1.83 0.12 0.02
incl.
41.72 84.00 37 2.28 0.14 0.02
incl.
41.72 45.15 83 5.64 0.38 0.05
incl.
72.25 80.00 61 3.76 0.22 0.03
incl.
89.28 96.00 8.5 1.02 0.08 0.04
RV-02 (300W/450N)
93.20 141.50 28 2.07 0.14 0.02
incl.
93.20 113.45 49 3.55 0.21 0.02
incl.
94.90 98.50 102 6.88 0.38 0.04
incl.
104.20 108.90 71 5.39 0.25 0.03
RV-03 (250W/400N)
104.50 127.35 31 2.34 0.18 0.03
incl.
118.5 127.35 42 3.15 0.17 0.04
155.60 160.70 58 2.51 0.02 0.02
RV-04 (130W/325N)
28.55 56.50 16 1.60 0.13 0.02
incl.
40.80 56.50 23 2.22 0.19 0.03
RV-05 (28W/297N)
24.80 54.50 41 2.46 0.12 0.02
incl.
24.80 30.20 57 3.21 0.08 0.01
incl.
37.10 49.60 60 3.46 0.17 0.03
incl.
37.10 43.30 80 4.72 0.19 0.03
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