Grades continue at River Valley

Vancouver — The latest assay results from an ongoing 11,000-metre drill program by Pacific North West Capital (PFN-V) continue to show high-grade zones within a broad envelope of lower-grade mineralization at the River Valley platinum-palladium project, 70 km east of Sudbury, Ont.

At the South zone in the Dana Lake area, hole 12 cut 51 metres grading 0.47 gram platinum, 1.6 grams palladium and 0.09 gram gold per tonne at a down-hole depth of 23 metres.

Collared some 50 metres to the north, hole 13 returned 4.5 metres averaging 0.36 gram platinum, 1.2 grams palladium and 0.07 gram gold at 5.5 metres down-hole.

Moving 110 metres to the south, hole 14 cut 96 metres grading 0.6 gram platinum, 2.2 grams palladium and 0.06 gram gold from 130.5 metres down-hole.

Collared 32 metres to the east, hole 15 hit an impressive 149 metres averaging 0.5 gram platinum, 1.8 grams palladium and 0.09 gram gold from 51 metres down-hole. Included in this section were 9.5 metres grading 1.4 grams platinum, 5.4 grams palladium and 0.2 gram gold.

Moving 70 metres to the west, hole 16 cut 9 metres grading 0.5 gram platinum, 1.6 grams palladium and 0.08 gram gold from 216.5 metres down-hole.

Some 110 metres to the north, hole 17 returned only anomalous values. All of the holes contain higher-grade sections within the broader envelope of lower-grade, bulk-minable material. Mineralization at the zone remains open to the north, south and at depth.

The latest results from the Lismer Ridge area, 1.3 km to the southeast, failed to cut equivalent grades. Hole 13 returned 46.5 metres grading 0.15 gram platinum, 0.35 gram palladium and 0.03 gram gold. Hole 14 hit 45 metres averaging 0.4 gram platinum, 1.2 grams palladium and 0.07 gram gold. Holes 15 and 16 cut zones of 1-3 metres averaging 2-3 grams combined platinum-palladium-gold.

The junior expects to complete a resource calculation when the fourth round of drilling is finished.

The property overlies the northern part of the layered mafic River Valley intrusion. The current drill program is part of a $2-million exploration budget approved by the junior’s joint-venture partner, AngloPlatinm (Amplats).

Anglo Platinum, a traded subsidiary of South Africa’s Anglo-American (AAUK-Q), can earn a 65% stake in the property by funding it through to production.