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

To: Condor who wrote (2120)	5/6/2002 7:37:06 PM
From: rdww	Read Replies (1) \| Respond to of 2255

Pacific North brings in new results from River Valley Pacific North West Capital Corp PFN Shares issued 19,863,480 May 6 close $0.68 Mon 6 May 2002 News Release Mr. Harry Barr reports PACIFIC NORTH WEST CAPITAL CORP. -- NEW DRILL RESULTS CONFIRM ... Pacific North West Capital's new drill results from River Valley platinum group metals property include: high-grade intersection (20 grams/tonne) Banshee Lake; results continue to demonstrate continuity of mineralization; additional drilling campaign in progress; and five kilometres of intrusive contact remains to be tested south and east of Lismer's Ridge. Assay results continue to demonstrate continuity of mineralization for Pacific North West Capital on its River Valley PGM property, located 60 kilometres northeast of Sudbury, Ont. A total of 51 holes have now been completed in the phase 5 program, and drilling resumed on April 22, 2002. The second half of the $2.5-million phase 5 program is expected to be completed by July. Drilling had been temporarily suspended in March to allow for completion of assaying and subsequent data interpretation. its The phase 5 program is aimed at doubling the initial mineral resource estimate of 593,000 ounces platinum + palladium + silver (Pt + Pd + Au). (424,228 ounces Pd, 142,285 ounces Pt, 26,977 ounces Au) -- measured, indicated and inferred -- 12.7 million tonnes at 1.46 g/t Pt + Pd + Au. An updated mineral resource study is now under way by Derry, Michener, Booth and Wahl Consultants Ltd. and is expected to be completed by August, 2002. These results have once again demonstrated the occurrence of widespread PGM mineralization with numerous higher grade intervals; these may represent selective high-grade mining opportunities in addition to the principal bulk tonnage target. Phase 5 holes completed to date: Dana Lake South DL 54 to DL 73 20 holes Banshee Lake BL-1 to BL-07 7 holes Lismer's Ridge LR-45 to LR 68 24 holes Dana Lake zone Objective To expand mineralization along strike and at depth in both the Dana North and South zones. More drilling is required in this area to ascertain the full extent of the mineralization, with the objective of defining an open pittable resource. DDH From/to Int Au Pt Pd (m)/(m) (m)/(ft) (ppb)(ppb)(ppb) DL-69 202.00/316.00 114/374.03 61 406 1157 incl 202.00/240.15 38.15/125.17 58 457 1229 incl 202.00/204.00 2.00/6.56 87 2190 7185 incl 214.50/216.00 1.50/4.92 153 1570 4333 incl 227.00/240.15 13.15/43.15 98 523 1416 incl 266.50/268.50 2.00/6.56 69 1063 2755 incl 276.00/316.00 40.00/131.24 97 554 1698 incl 289.00/299.30 10.30/33.79 122 786 2283 incl 310.50/314.00 3.50/11.48 157 918 2831 DL-70 80.00/85.00 5.00/16.41 35 265 711 DL-71 191.50/205.00 13.50/44.29 60 392 1056 incl 199.00/201.00 2.00/6.56 111 754 2213 incl 204.00/205.00 1.00/3.28 175 1430 4445 DL-72 217.00/222.50 5.50/18.05 39 461 538 231.50/234.50 3.00/9.84 57 532 2014 402.50/410.00 7.50/24.61 50 403 1246 DL-73 464.00/487.00 23.00/75.46 20 147 420 incl 466.50/467.00 0.50/1.64 116 1330 6280 DDH From/to Int 3E 3E (m)/(m) (m)/(ft) (ppb) (g/t) DL-69 202.00/316.00 114/374.03 1624 1.62 incl 202.00/240.15 38.15/125.17 1744 1.74 incl 202.00/204.00 2.00/6.56 9462 9.46 incl 214.50/216.00 1.50/4.92 6056 6.06 incl 227.00/240.15 13.15/43.15 2037 2.04 incl 266.50/268.50 2.00/6.56 3887 3.89 incl 276.00/316.00 40.00/131.24 2348 2.35 incl 289.00/299.30 10.30/33.79 3191 3.19 incl 310.50/314.00 3.50/11.48 3907 3.91 DL-70 80.00/85.00 5.00/16.41 1011 1.01 DL-71 191.50/205.00 13.50/44.29 1509 1.51 incl 199.00/201.00 2.00/6.56 3078 3.08 incl 204.00/205.00 1.00/3.28 6050 6.05 DL-72 217.00/222.50 5.50/18.05 1038 1.04 231.50/234.50 3.00/9.84 2603 2.60 402.50/410.00 7.50/24.61 1699 1.70 DL-73 464.00/487.00 23.00/75.46 587 0.59 incl 466.50/467.00 0.50/1.64 7726 7.73 Banshee Lake area Objective Initial test of a plus-600-metre-long geophysical anomaly (induced polorization chargeability high). Initial drill results have defined several broad intersections of anomalous PGM values including some narrow high-grade intersections. This is a promising start to the drilling campaign in the Banshee Lake area. Additional drilling is planned for this area. DDH From/to Int Au Pt Pd (m)/(m) (m)/(ft) (ppb)(ppb) (ppb) BL-01 4.00/11.00 7.00/22.97 56 1342 2157 incl 4.00/5.00 1.00/3.28 284 7736 12760 78.50/79.00 0.50/1.64 4 192 3470 BL-02 29.00/46 17.00/55.78 1 222 299 79.90/134 54.10/177.50 20 125 308 incl 112/118 6.00/19.69 46 326 919 250/250.25 0.25/0.82 102 6370 2330 BL-03 116.90/118.50 1.60/5.25 19 269 909 125.50/128 2.50/8.20 57 335 722 137.50/152.50 15/49.22 25 136 337 incl 150.50/152 1.50/4.92 83 433 1085 171/173.50 2.50/8.20 17 594 912 BL-04 56.25/75.00 18.75/61.52 16 91 322 incl 73.00/75.00 2.00/6.56 47 278 1040 BL-05 74.00/80.00 6.00/19.69 43 232 443 incl 79.00/80.50 1.50/4.92 112 501 1205 152/153.50 1.50/4.92 20 424 812 BL-06 21.50/35.50 14/45.93 20 236 243 40.00/43.50 3.50/11.48 77 253 279 BL-07 5.50/33 27.50/90.23 70 292 374 incl 8.50/11.00 2.50/8.20 165 534 648 incl 26.50/30.00 3.50/11.48 225 557 949 DDH Int 3E 3E From/to (m) (m)/(ft) (ppb) (g/t) BL-01 4.00/11.00 7.00/22.97 3555 3.55 incl 4.00/5.00 1.00/3.28 20780 20.78 78.50/79.00 0.50/1.64 3666 3.67 BL-02 29.00/46 17.00/55.78 522 0.52 79.90/134 54.10/177.50 453 0.45 incl 112/118 6.00/19.69 1292 1.29 250/250.25 0.25/0.82 8802 8.80 BL-03 116.90/118.50 1.60/5.25 1197 1.20 125.50/128 2.50/8.20 1113 1.11 137.50/152.50 15/49.22 497 0.50 incl 150.50/152 1.50/4.92 1601 1.60 171/173.50 2.50/8.20 1523 1.52 BL-04 56.25/75.00 18.75/61.52 430 0.43 incl 73.00/75.00 2.00/6.56 1365 1.36 BL-05 74.00/80.00 6.00/19.69 718 0.72 incl 79.00/80.50 1.50/4.92 1818 1.82 152/153.50 1.50/4.92 1256 1.26 BL-06 21.50/35.50 14/45.93 499 0.50 40.00/43.50 3.50/11.48 609 0.61 BL-07 5.50/33 27.50/90.23 736 0.74 incl 8.50/11.00 2.50/8.20 1347 1.35 incl 26.50/30.00 3.50/11.48 1731 1.73 Lismer's Ridge area Objective The aim is to delineate the full extent of the mineral resource at Lismer's Ridge. More drilling is required in this area to ascertain the full extent of the mineralization, with the objective of defining an open pittable resource. DDH From/to Int Au Pt Pd (m)/(m) (m)/(ft) (ppb)(ppb) (ppb) LR-50 174.50/191.50 17/55.76 9 158 295 incl 189.50/191 1.50/4.92 27 329 1015 LR-51 11.50/13.00 1.50/4.92 42 1305 2727 24.00/35.50 11.50/37.72 32 254 567 incl 24.50/28.00 3.50/11.48 40 346 816 incl 33.00/35.50 2.50/8.20 47 416 1010 LR-52 74.00/85.50 11.50/37.72 34 452 1347 incl 78.50/83.00 4.50/14.76 48 707 2537 93.00/95.00 2.00/6.56 90 329 1361 LR-53 131/138.50 7.50/24.60 72 268 891 incl 131/132.50 1.50/4.92 118 571 2177 159/163.50 4.50/14.76 57 237 860 LR-55 58.50/59.00 0.50/1.64 23 1380 2560 71.50/74.00 2.50/8.20 35 251 891 86.50/88.00 1.50/4.92 61 458 1493 LR-57 22.50/30.00 7.50/24.60 42 256 821 incl 22.50/23.00 0.50/1.64 27 1040 4040 LR-58 147/172.00 25.00/82.00 42 282 790 incl 156.90/171 14.10/46.25 57 411 1144 incl 170/171.00 1.00/3.28 134 1360 3515 incl 158/159.00 1.00/3.28 122 1079 3160 LR-59 129/130.50 1.50/4.92 29 413 804 195.5/201.5 6.00/19.68 38 288 842 LR-60 27.00/38.00 11.00/36.08 13 127 312 LR-61 65.15/67.00 1.85/6.07 309 208 506 153/159.00 6.00/19.68 25 534 1489 incl 154.50/155.50 1.00/3.28 31 1324 3904 incl 157/157.50 0.50/1.64 84 1850 5530 LR-62 116/118.00 2.00/6.56 60 319 964 LR-63 102.5/105.5 3.00/9.84 45 393 582 172/182.50 10.50/34.44 62 439 886 incl 181/182.00 1.00/3.28 342 2070 4285 LR-64 49.50/51.50 2.00/6.56 52 843 1310 153.85/171.5 17.65/57.89 107 732 1444 incl 145/147.00 2.00/6.56 185 933 1978 incl 155/159.50 4.50/14.76 115 1001 2084 incl 167.50/169 1.50/4.92 359 2277 4153 LR-65 179/202.50 23.50/77.08 110 572 1505 incl 179.50/189 9.50/31.16 157 946 2408 incl 182/184.00 2.00/6.56 342 2286 5107 LR-66 99.50/131.50 32/104.96 61 338 919 incl 106/125.00 19.00/62.32 70 438 1214 incl 108/109.50 1.50/4.92 173 1041 3443 LR-67 36.50/64.00 27.50/90.20 70 451 1191 incl 48.50/59.00 10.50/34.44 99 587 1560 incl 54.50/57.60 3.10/10.17 121 751 2184 incl 57.00/57.60 0.60/1.97 238 1860 5500 LR-68 145.50/164 18.50/60.68 74 367 859 incl 148/149.00 1.00/3.28 164 891 2165 incl 155.50/160 4.50/14.76 107 613 1398 DDH From/to Int E3 E3 (m)/(m) (m)/(ft) (ppb) (g/t) LR-50 174.50/191.50 17/55.76 462 0.46 incl 189.50/191 1.50/4.92 1371 1.37 LR-51 11.50/13.00 1.50/4.92 4074 4.07 24.00/35.50 11.50/37.72 853 0.85 incl 24.50/28.00 3.50/11.48 1202 1.20 incl 33.00/35.50 2.50/8.20 1473 1.47 LR-52 74.00/85.50 11.50/37.72 1832 1.83 incl 78.50/83.00 4.50/14.76 3292 3.29 93.00/95.00 2.00/6.56 1780 1.78 LR-53 131/138.50 7.50/24.60 1231 1.23 incl 131/132.50 1.50/4.92 2865 2.87 159/163.50 4.50/14.76 1155 1.15 LR-55 58.50/59.00 0.50/1.64 3963 3.96 71.50/74.00 2.50/8.20 1178 1.18 86.50/88.00 1.50/4.92 2012 2.01 LR-57 22.50/30.00 7.50/24.60 1119 1.12 incl 22.50/23.00 0.50/1.64 5107 5.11 LR-58 147/172.00 25.00/82.00 1115 1.11 incl 156.90/171 14.10/46.25 1613 1.61 incl 170/171.00 1.00/3.28 5009 5.01 incl 158/159.00 1.00/3.28 4361 4.36 LR-59 129/130.50 1.50/4.92 1247 1.25 195.50/201.50 6/19.68 1168 1.17 LR-60 27.00/38.00 11.00/36.08 452 0.45 LR-61 65.15/67.00 1.85/6.07 1022 1.02 153/159.00 6.00/19.68 2047 2.05 incl 154.50/155.50 1.00/3.28 5259 5.26 incl 157/157.50 0.50/1.64 7464 7.46 LR-62 116/118.00 2.00/6.56 1343 1.34 LR-63 102.50/105.50 3/9.84 1020 1.02 172/182.50 10.50/34.44 1387 1.39 incl 181/182.00 1.00/3.28 6697 6.70 LR-64 49.50/51.50 2.00/6.56 2205 2.20 153.85/171.5 17.65/57.89 2283 2.28 incl 145/147.00 2.00/6.56 3096 3.10 incl 155/159.50 4.50/14.76 3200 3.20 incl 167.50/169 1.50/4.92 6789 6.79 LR-65 179/202.50 23.50/77.08 2186 2.19 incl 179.50/189 9.50/31.16 3511 3.51 incl 182/184.00 2.00/6.56 7734 7.73 LR-66 99.50/131.50 32/104.96 1318 1.32 incl 106/125.00 19.00/62.32 1722 1.72 incl 108/109.50 1.50/4.92 4658 4.66 LR-67 36.50/64.00 27.50/90.20 1712 1.71 incl 48.50/59.00 10.50/34.44 2246 2.25 incl 54.50/57.60 3.10/10.17 3055 3.06 incl 57.00/57.60 0.60/1.97 7598 7.60 LR-68 145.50/164 18.50/60.68 1300 1.30 incl 148/149.00 1.00/3.28 3220 3.22 incl 155.50/160 4.50/14.76 2118 2.12 Approximately five kilometres of mineralized intrusive contact to the south and east of Lismer's Ridge remain to be tested. River Valley is a 50-50 joint venture between Pacific North West and Anglo American Platinum Corporation Limited, the world's largest producer of platinum. To date, Anglo Platinum has expended over $5-million on the project. Anglo Platinum may earn a 60-per-cent interest in River Valley by completing a feasibility study and up to 65 per cent by arranging production financing. Assays were carried out by XRAL Laboratories. The qualified person for the project is John Royall, PEng. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com