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 : Pacific North West Capital Corporation-PFN on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (1697)	5/31/2000 10:44:00 AM
From: Frank Ferrari	Respond to of 2255

This looks like good news, drilling to the North and IP indicators in the South East. Pacific North West Capital Corp. Reports Geophysical Results, and Announces Phase II Drilling, River Valley Platinum Group Metal Project, Sudbury Mining District, Ontario VANCOUVER, BRITISH COLUMBIA--Pacific North West Capital Corp. (``PFN'') is pleased to announce that it has completed a regional geophysical survey (induced polarization - I.P.), covering the highly prospective margin of the River Valley Intrusion. The geophysical survey has outlined an anomaly extending for a considerable distance to the southeast of the Phase I drilling area (see accompanying map). The anomaly parallels the River Valley Intrusive/Archean Gneiss contact with the source apparently located a short distance ((less than) 200m) above the contact. In the Dana Lake area, high chargeability anomalies are associated with outcropping sulphide mineralization. Detailed prospecting, stripping and sampling over the I.P. chargeability anomalies north of 600N are being conducted. Mineralization has been exposed on 600N and 700N and sampling is in progress. Additional stripping and sampling between 600N and 215S will expose the western and eastern limits of the mineralization as well as exposing the intrusive contact which underlies the mineralization. Diamond Drilling: Dana Lake Area Phase II drilling will commence by June 15th. Holes will be drilled north of RV8, (the most northerly hole drilled to date), to test for continuity of mineralization indicated by earlier surface stripping, sampling and I.P. Additional holes will be collared on sections previously drilled (between 600N and 215S) to better ascertain the dip and depth extent of the mineralization. The Trench Zone, where grab samples assay as high as 13.17g/t combined Pt, Pd, Rh and Au, will also be drilled. Drilling to date has been confined to the Dana Lake Area, where 13 of 13 holes drilled, intersected significant mineralization. The drilling was conducted in an area of high chargeability which parallels the intrusive contact. Regional I.P. - Hen Lake Area Stripping and sampling programs are currently underway and results will be utilized in conjunction with geological and geophysical data to delineate further drill targets. The River Valley Project is funded through an agreement with Anglo American Platinum Corporation Limited (``Amplats''), the world's largest platinum producer, which can earn a 50% 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% interest by completing a feasibility study; and 65% by financing the property through to production. In addition to funding, Amplats is providing PFN with technical expertise in its search for Platinum Group Metal deposits. PFN remains operator of the projects. Amplats is funding a minimum $1 million exploration program on River Valley and other PFN projects in 2000. ON BEHALF OF THE BOARD OF DIRECTORS Harry Barr, President Disclaimer This news release contains certain ``Forward-Looking Statements'' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Venture Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission