Pacific Northwest posts resource for River Valley

Vancouver — Pacific North West Capital (PFN-T) has tabled a independent resource estimate for its River Valley platinum group metal property, situated northeast of Sudbury, Ontario.

Derry, Michener, Booth and Wahl Consultants have pegged combined in-situ resources in the Dana and Lismer’s Ridge prospects at 12.7 million tonnes grading 0.35 gram platinum, 1.04 grams palladium and 0.07 gram gold per tonne. This translates into 142,000 oz. platinum, 424,000 oz. palladium and 27,000 oz. gold, for a grand total of 593,000 ounces of those metals.

A platinum-palladium cutoff grade of 0.7 gram per tonne was used.

The consultants believe that further drilling on the current mineralized zones, both along strike and down-dip, could potentially increase the resource. With this in mind, Pacific North West Capital has submitted a program and budget to its partner, Anglo American Platinum (AAPTY-O), which details work to be completed over the next 12 months. The details of this program will be released shortly, but PFN states that there will obviously be a major drill component.

To date, Pacific North West Capital has drilled a total of 138 holes on the River Valley property. Mineralization at Dana Lake is divided into two zones, both of which remain open. The Dana Lake South zone has been traced for 300 metres along the River Valley intrusion’s contact and to a depth of 290 metres, whereas Dana Lake North has been traced for 500 metres along strike and to a depth of 200 metres. Lismer’s Ridge, about 2 km to the southeast, is also a contact-mineralization target that has been traced over a strike length of about 500 metres.

Exploration at River Valley is funded by Anglo American Platinum as part of its requirements to earn up to a 65% interest in the project. The major must also raise the necessary development financing.

Details of the resource estimate are as follows:

• Dana North zone – measured and indicated resource of 5 million tonnes grading 0.356 platinum, 1.066 palladium and 0.072 gram gold.
• Dana South zone – measured and indicated resource of 2.7 million tonnes grading 0.398 gram platinum, 1.337 grams palladium and 0.073 gram gold.
• Lismer’s Ridge – measured-indicated and inferred resource of 4.97 million tonnes grading 0.313 platinum, 0.846 gram palladium and 0.056 gram gold