Pacific NW Capital explores River Valley

With another $2.3 million in the till, Pacific North West Capital (PFN-T) is resuming exploration drilling at its River Valley platinum-palladium project, near Sudbury, Ont.

To date, 138 holes at the Dana Lake and Lismer’s Ridge zones have outlined 12.7 million tonnes grading 1.04 grams palladium, 0.35 gram platinum and 0.07 gram gold per tonne, plus 0.02% nickel and 0.01% copper. Both zones remain open, and another 10 showings are known to occur elsewhere along the intrusion’s contact with surrounding country rock.

At Dana Lake, mineralization is divided among two targets. The South zone has been traced for 300 metres and to a depth of 290 metres, whereas the North has been traced for 500 metres along strike and to a depth of 200 metres.

Mineralization at Lismer’s Ridge is similar to that found at Dana Lake but lower in grade. The zone sits 2 km to the southeast and has been traced over a strike length of 500 metres.

Only mineralized intervals carrying more than 0.7 gram combined platinum and palladium were considered in the resource estimate.

The upcoming campaign will include 20,000 metres of drilling to expand the resource and test other showings. Concurrently, the company will carry out induced-polarization and electromagnetic surveys to highlight other potential areas of mineralization.

South African-based Anglo American Platinum, the world’s largest platinum producer, is funding the River Valley project as part of its requirements to earn a 65% interest. This latest tranche surpasses its expenditure requirements, though the major must still deliver a feasibility study and advance the project to production.