PNWC makes grade at River Valley

Vancouver — Junior explorer Pacific North West Capital (PFN-V) continues to expand platinum-palladium mineralization at its River Valley project, near Sudbury, Ont.

The 11,000-metre drill program is utilizing two rigs. One is systematically drilling off east-west sections at the Dana Lake area, spaced at 25-metre intervals, while the other evaluates mineral potential farther to the south, at Lismer’s Ridge.

Highlights from the latest 10 holes, all of which were sunk on the South zone of the Dana Lake area, are as follows:

– Hole 12 cut 51 metres grading 0.47 gram platinum, 1.6 grams palladium and 0.09 gram gold per tonne, starting at a down-hole depth of 23 metres. This included a 25-metre section of 0.62 gram platinum, 2.1 grams palladium and 0.1 gram gold.

– Hole 13, collared 50 metres to the north, cut 4.5 metres grading 0.4 gram platinum, 1.2 grams palladium and 0.07 gram gold, starting at 5.5 metres down-hole.

– Hole 14, collared 110 metres farther south, intersected 96 metres grading 0.6 gram platinum, 2.2 grams palladium and 0.1 gram gold, starting at 130.5 metres down-hole. This included a 35.5-metre section of 0.9 gram platinum, 3.3 grams palladium and 0.1 gram gold.

– Hole 15, collared 32 metres to the east, hit 149 metres grading 0.5 gram platinum, 1.8 gram palladium and 0.09 gram gold, starting at 51 metres down-hole. This included a 67-metre interval of 0.64 gram platinum, 2.3 grams palladium and 0.11 gram gold. A high-grade section in this interval averaged 1.5 grams platinum, 5.4 grams palladium and 0.2 gram gold over 9.5 metres.

– Hole 16, collared 70 metres to the west, cut 9 metres grading 0.5 gram platinum, 1.6 gram palladium and 0.08 gram gold starting at 216 metres down-hole. This included a 2-metre interval of 1.1 grams platinum, 4.2 grams palladium and 0.15 gram gold.

Mineralization in the South zone trends to the southeast and remains open to the north and south. Drilling has delineated mineralization to a depth of 200 metres.

The junior plans to continue drilling southward toward Lismer’s Ridge, where widely spaced reconnaissance drill holes previously outlined mineralization associated with magmatic breccias that extend for a strike length of more than 2.1 km. The mineralization remains open to the northwest and southeast.

The junior’s joint-venture partner at River Valley is Anglo Platinum, a traded subsidiary of South Africa’s Anglo-American (AAUK-Q), which can earn a 65% stake in the property by funding it through to production.