River Valley reveals more PGEs

Junior Pacific North West Capital (PFN-V) has received more encouraging results from its River Valley platinum group element project near Sudbury, Ont.

The River Valley project covers 43.5 sq. km of the 30-by-15-km, layered mafic intrusion after which it is named. Mineralization occurs at the intrusion’s margin and consists of 1-5% chalcopyrite, pyrrhotite, pentlandite and minor pyrite. It is hosted in a coarse heterolithic breccia containing gabbroic, pyroxenitic and anorthositic fragments in a gabbro-pyroxenite matrix.

The company is focusing on surface showings and coincident chargeability anomalies collectively referred to as Dana Lake. It recently tested that target with 13 drill holes, the first three of which came back positive (T.N.M., April 10/00). Results are now available for the four subsequent holes, all of which yielded similarly encouraging results. Highlights include the following:

– Hole 4 — 28 metres (from 28 to 56 metres) grading 1.16 grams palladium per tonne, 0.36 gram platinum per tonne, 0.07 gram gold per tonne and 0.02 gram rhodium, plus 0.13% copper and 0.02% nickel;

– Hole 5 — 29.7 metres (24.8-54.5 metres) grading 2.46 grams of the combined precious metals, plus 0.12% copper and 0.02% nickel;

– Hole 6 — 18.4 metres (85.9-104.3 metres) grading 1.67 grams combined precious metals, plus 0.09% copper and 0.01% nickel;

– Hole 7 — 97.9 metres (123.1-221 metres) grading 1.61 grams combined precious metals, plus 0.12% copper and 0.02% nickel in hole 7.

Each of the intervals contained one or more higher-grade sections, similar to those reported for holes 1 to 3.

Results so far indicate a palladium-to-platinum ratio of roughly 3-to-1, with gold accounting for about 4% of the combined precious metals and rhodium over 1%. Preliminary mineralogical and metallurgical tests will begin shortly.

Results for holes 8 through 13 are not yet available.

Pacific North West is now carrying out induced-polarization surveys in a 300-metre gap between the two anomalies drilled, and to the north and south. The regional portion will cover more than 6 km of the intrusion’s contact, along which other promising showings are known. One, dubbed Central Reef, lies 5 km south of Dana Lake and has returned up to 10.4 platinum-palladium-gold in a 300-by-50-metre area.

Drilling will renew once results from the geophysical surveys have been studied.

Anglo American Platinum, the world’s largest platinum producer, is funding the program as part of its requirements to earn a half-interest in River Valley and similar-type properties in the Sudbury area that are owned or under option to Pacific North West. This year’s exploration budget is set at $1 million.

In related news, Kelnick Resources (KLNK-C) has joined the hunt for platinum group elements in the Sudbury region by acquiring 640 ha in Hallam Twp. The property covers 6.5 km of the Nipissing diabase, near where that structure is intersected by the Murray and Webbwood faults.

A preliminary program of mapping, trenching and geophysical surveying will begin shortly.