Pacific North West Capital with 2,5 million ounces of PGM + Gold Measured and Indicated Resource on its River Valley Project, Sudbury, Ontario
River Valley Measured + Resources Displayed: 91 million t @ 0,58 g / t * Palladium, 0,22 g / t Platinum, 0,04 g / t Gold at 0,8 operating limit threshold g / t PdEq ** for 2.463.000 ounces PGM *** plus Gold- River Valley Inferred resource: 36 million t @ 0,36 g / t palladium, 0,14 g / t platinum, 0,03 g / t gold with 0,8 g / t PdEq operating limit for 614.000 ounces of PGM plus gold
- Based on PdEq basis, Measured + Indicated resources with 3.944.000 ounces of PdEq and Inferred resources with 1.201.000 ounces of PdEq
- River Valley PGM copper-nickel sulfide mineralized zones are open in expansion on ongoing exploration
* g / t = grams per ton, ** PdEq = palladium equivalent, *** PGM = platinum group metals
May 03.05.2012, 7 Vancouver, BC - Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P43J) is very pleased that the estimated NI101-0,80 compliant Measured and Indicated Mineral Resources at an operating threshold of 400 g / t PdEq have increased> 43% compared to the previous NI101 -2006 compliant resource estimate (May 91.339.500) at 0,84 t with 0,06 g / t Pd + Pt + Au, 0,02% copper and 1000% nickel. The compliant Inferred Mineral Resource increases by> 35.911.000% to 0,53 million t with 0,06 g / t Pd + Pt + Au, 0,03% copper and 100% nickel. The River Valley PGM project is 100 km from the world-famous Sudbury Ni-Cu-PGM mining area, has excellent infrastructure and is XNUMX% PFN owned.
Detailed results
The detailed results of the new mineral resource estimate for the River Valley PGM project are shown in Table 1. This was prepared by Tetra Tech, Sudbury. The new estimate includes 13.140 meters in 46 holes drilled on the Dana North and Dana South Zones since the May 2006 estimate. All 462 holes were drilled 25 to 100 meters apart in eight separate mineralized zones and are shown in Figure 1 .
Dr. William Stone, President & COO said, “The sharp increase in the estimated mineral resources confirms that River Valley is one of the largest undeveloped major PGM projects in North America. The strategy of including all mineralized zones and the full metal value in the mineral resource estimates produced very positive results. It resulted in a great increase in PFN's confidence in River Valley as the project moves forward to the Pre-Economic Feasibility Study. The company plans to continue to expand and discover new resources for PGM resources through further drilling on the River Valley project and adjacent properties. ”
The mineral resources were estimated using the Datamine Studio3 © software and reported with a cut-off threshold of 0,8 g / t PdEq (Table 1). The 0,8 g / t PdEq cut-off was used as an open-pit project subject to future research into the economics and development potential of River Valley. The Company Regards 0,8 g / t cut-off Values as Appropriate Due to: 1) The PdEq grade is measured and displayed at 1,38 g / t and 1,07 g / t at the inferred resources; and 2) rhodium and silver have not been included in the calculation of PdEq. The mineral resource will provide you with an area for the PdEq cut-off values in table 2.
Comparisons were made between the old NI43-101 compliant River Valley mineral versus that made by the May 2006; see above. (GeoSIMS technical report available at PFN's SEDAR profile at www.sedar.com and the corporate website). The enormous increase in mineral resources can be explained by: 1) incorporation of 2011 resource drilling results; 2) Include the three mineralized zones that have already been tested (Fig. 1); 3) Use of PdEq instead of Pd + Pt cut-of degrees; and 4) Use a length weighted average as the specific gravity value of 2,94 measured for River Valley instead of the old value of 2,89.
Harry Barr, Chairman & CEO, said, “In just one year of our 100% owned River Valley PGM project, I would like to congratulate our team on completing a major milestone with this very positive resource statement. Our aggressive exploration and development strategy is aimed at unlocking the real potential of River Valley. Moving forward, we plan to further expand the resource through exploration, drilling the new targets and completing the Pre-Economic Feasibility Study over the next two years. "
Statement of Qualified Person
The mineral resource estimate was prepared by Tetra Tech of Sudbury, Ontario under the direction of Todd McCracken, chief geologist. Mr. McCracken is an Independent Qualified Person under the rules of NI43-101. The resource deadline is May 1, 2012. Quality control, technical information and all concerns of the 2011 exploration program were overseen by Ali Hassanalizadeh, Vice President, Exploration for PFN and a Qualified Person under NI43-101. The information published here was prepared under the direction of Dr. William Stone, President & COO of PFN and Qualified Person under NI43-101.
About the River Valley Project
In January 2011, Pacific North West Capital Corp. successfully negotiated the 100% acquisition of the River Valley PGM Project from Anglo Platinum Limited. The River Valley PGM Project is one of North America's advanced platinum group metal (PGM) deposits. The project has excellent infrastructure support and is located 100 kilometers from Sudbury, Ontario, one of Canada's largest mining centers for nickel-copper PGM mining and metallic extraction.
About Pacific Northwest
Pacific North West Capital Corp. is a mineral exploration company whose business philosophy is to be a project generator, explorer and project operator with the option of optioning / joint venturing its projects into production. PFN focuses on the discovery, exploration and development of PGM and nickel-copper sulphide occurrences in geological prospective regions in North America specifically in Canada. The Company's main project is the 100% owned River Valley PGM project in the Sudbury region of Northern Ontario. PFN also owns PGM and nickel-copper projects and properties in Northwest Ontario, Saskatchewan and Alaska and has an option for a joint venture for a base metal project in northwest BC's in the Golden Triangle region. The company continues to evaluate the PGM and nickel-copper projects and properties in North America for further potential purchase opportunities.
Pacific North West Capital Corp. is a member of the International Metal Group Company.
(Www.pfncapital.com)
For further information please contact:
Harry Barr
Chairman & CEO
Pacific North West Capital Corp.
Tel: 604-685-1870
Email: ppgad@pucrs.br
Bill Stone
President & COO
Pacific North West Capital Corp.
Tel: 416-368-5268
Email: ppgad@pucrs.br
On behalf of the Board of Directors
Harry Barr
Chairman and CEO
Disclaimer: This press release may contain forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934. All statements and other statements on historical facts presented here are forward-looking statements that involve various risks and uncertainties. There is no assurance or guarantee that such statements will actually occur or be accurate and actual results or statements in the future and their results could differ materially. Important factors affect the results and change exchange rates, political risks, legislation and much more. The company's expectations are published by the Toronto Stock Exchange, British Columbia Securities Commission, and the United States Securities & Exchange Commission, respectively
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