NORTHERN ONTARIO – Vancouver-based PACIFIC NORTH WEST CAPITAL and FALCONBRIDGE of Toronto, partners at the West Timmins nickel project, have begun a joint pulse EM survey south of Falconbridge’s Montcalm mine. The targets are new deep conductive zones with corresponding magnetic signatures similar to those identified with the mine.
Pacific North West has optioned the West Timmins property from Falconbridge. The company is spending $4 million over four years to earn 100% interest. Falconbridge retains a 2% net smelter royalty and may, under certain circumstances, back in and earn up to 65% interest.
Earlier this year, Pacific North West announced results from a 3,413-metre drill program to test conductor targets in the Montcalm mafic intrusive complex. The best assay was 0.10% Cu, 0.13% Ni and 109 ppb Pt-Pd-Au over 2.0 metres.
The company’s website is at www.PFNCapital.com.