ANGLO AMERICAN PLATINUM and PACIFIC NORTH WEST CAPITAL have approved the $5.3-million Phase VI drill program on the River Valley platinum property near Sudbury. Work on the two-drill, 40,000-metre program will begin in the middle of next January.
The Phase VI drilling budget is more than double the amount approved for similar work during 2002. To date 47,000 metres of diamond drilling has been completed on the property, mostly in the Dana Lake and Lismer's Ridge areas. Next year's program will target outcropping mineralization along the 6-km-long intrusive contact zone that extends south from Lismer's Ridge. The partners also conducted a separate $277,000 surface exploration program last year.
Two months ago, Pacific North West informed investors that the River Valley property contains measured and indicted resources of 589,600 oz Pd, 199,990 oz Pt and 36,500 oz Au. A further inferred resources of 141,800 oz Pd, 50,200 oz Pt and 8,600 oz Au was noted.
To reach Pacific North West's investor relations department in Vancouver, call 800-667-2870, or log onto www.pfncapital.com