Issue link: http://resourceworld.uberflip.com/i/294363
www.resourceworld.com 49 A P R I L / M A Y 2 0 1 4 Pending financing, Pacific North West Capital Corp. [PFN-TSXV; PAWEF- OTCQB; P7J-FSE] is planning a five-year, $5 million exploration program on its 100%-owned River Valley polymetallic (platinum-palladium-rhodium-gold-silver- copper-nickel-cobalt) project located 60 km east of the major mining and smelting cen- tre of Sudbury, Ontario. The plan includes a drill program, this field season, designed to add high-grade mineralization to the re- sources already outlined. The work will also include regional air- borne geophysical surveys to identify ex- ploration targets, Phase II metallurgical studies, an optimized resource estimate as well as a preliminary economic assessment. Measured and indicated resources at River Valley total 91 million tonnes grading 0.58 g/t palladium, 0.22 g/t platinum, 0.04 g/t gold at a cut-off grade of 0.8 g/t palladium equivalent (PdEq) for 2,463,000 ounces of platinum group metals (PGM) plus gold. In- ferred resources stand at 36 million tonnes grading 0.36 g/t palladium, 0.14 g/t plati- num, 0.03 g/t gold at a cut-off grade of 0.8 g/t PdEq for 614,000 ounces PGM plus gold. On a PdEq basis, the measured and in- dicated resources contain 3,944,000 ounces PdEq and the inferred resources contain 1,201,000 ounces PdEq. The Dana North, Dana South and Lismer zones are under evaluation for development potential as a start-up, open pit, mining op- eration. The road-accessible River Valley Project is 40 km from a railway and 40 km from a 230 kV power line. Natural gas is 20 km away. The company has an extensive land position at River Valley encompass- ing about 300 km 2 that host other miner- alized zones. In addition to the Banshee Zone with inferred resources of 3.3 mil- lion tonnes grading 1.0 g/t PdEq, there is known mineralization along a 12-km strike length on the property. The Ban- shee Zone also offers high-grade targets for drill testing. During 2011 and 2012, the company completed 17,200 metres of drilling in 55 holes and conducted envi- ronmental baseline studies. Using fresh drill core from the Dana zones, metallurgical testwork results by SGS Canada Inc. demonstrated metal re- coveries of 84% copper, 22% nickel and 69% PGM. Payable metals include palla- dium, platinum, gold, copper and nickel as probable, rhodium likely and cobalt and silver possible. No deleterious met- als, such as talc, or other minerals were found. SGS concluded that a sulphide concentrator could effectively process this mineralized rock. Harry Barr, Chairman and CEO, said that ideally a strategic partner could be found to aid in the advancement of the project. Pacific North West Capital also has a 100% interest in two other large PGM properties and a 70% interest in a third PGM prospect in the River Valley region. The company recently completed a three-old for one-new share consolidation. There are now approximately 36,515,738 shares outstanding. n Pacific North West Capital to drill River Valley PGM project Mining operations at the Valdirao Project in Rondonia, Brazil. Photo courtesy Cancana Resources Corp.