NORTHERN ONTARIO Vancouver-based PACIFIC NORTH WEST CAPITAL says it is "extremely pleased" with the advances made on the River Valley property, notably the upgraded resources estimates.
The recent report submitted by DERRY, MICHENER, BOOTH & WAHL estimated that there are 25.4 million tonnes of measured and indicated resources in the Dana and Lismer's Ridge deposits. Average grades are 0.98 g/t Pd, 0.34 g/t Pt and 0.06 g/t Au. Inferred resources, which include Varley as well as Dana and Lismer's Ridge, total 3.6 million tonnes at 0.76 g/t Pd, 0.28 g/t Pt and 0.05 g/t Au.
ANGLO AMERICAN PLATINUM, which is earning up to 65% of the project near Sudbury, has approved the $3-million Phase 7 program for the remainder of this year. Work will include 15,000 metres of diamond drilling, surface exploration and an aeromagnetic survey.
Details of the River Valley project and Pacific's other holdings are available at www.pfnCapital.com.