Pacific North West sees higher PGM grades at River Valley

Vancouver – The latest drilling by Pacific North West Capital (PFN-T) on its River Valley project, located 65 km northeast of Sudbury, has delivered significant platinum and palladium grades from the Lismer Extension zone.

Many of the 18 holes recently cored on the newly discovered zone are returning wide intercepts of sulphide mineralization with considerable platinum group metal (PGM) values. The latest drill results include:

• Hole LR-140 Two mineralized intersections were encountered; a 4-metre section (from 269 metres) cut 0.6 grams platinum per tonne and 1.9 grams palladium per tonne, including a 1-metre interval grading 2.1 gram platinum and 6.5 grams palladium; further down-hole, a 27-metre intercept (from 284 metres) averaged 0.1 grams gold per tonne, 0.8 grams platinum and 2.5 grams palladium, including 8 metres of 0.2 grams gold, 1.2 grams platinum and 4 grams palladium, and a 1 metre intercept of 0.5 grams gold, 3 grams platinum and 9.2 grams palladium;
• Hole LR-141 A high-grade 2-metre intercept (from 221 metres) assayed 0.4 grams gold, 4.1 grams platinum and 12.1 grams palladium, followed further down-hole by 20 metres (from 249 metres) of 0.6 grams platinum and 1.9 grams palladium, including 2 metres at 1.2 grams platinum and 3.5 grams palladium.

Drilling is outlining an extensive 20-30 metre wide mineralized zone within the intrusive contact breccia at Lismer Extension, which has been intersected to depths of at least 200 metres.

Lismer Extension lies along strike and between the Dana and Lismer zones that cumulatively host the measured and indicated resource of 25.4 million tonnes grading 0.98 grams palladium, 0.34 grams platinum and 0.06 grams gold.

Nine target areas have so far been defined along the 15-km long northern contact of the River Valley intrusive. This latest drilling is part of the $3-million Phase 7 program conducted by Pacific North West Capital and funded by Anglo American Platinum (AAPTY-Q) that has so far spent and committed almost $16 million. AngloPlat can earn up to a 65% interest by funding the project through to production.