🕐24.07.12 - 16:27 Uhr
PACIFIC NORTH WEST CAPITAL COMMENCES METALLURGICAL STUDIES OF ITS RIVER VALLEY P
GM DEPOSIT WITH SGS CANADA INC.
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Re: News Releases - Tuesday, July 24, 2012
Pacific North West Capital Commences Metallurgical Studies of its
River Valley PGM Deposit with SGS Canada Inc.
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July 24, 2012.
Vancouver, Canada -- Pacific North West Capital Corp.
(TSX: "PFN"; OTCQX: PAWEF; Frankfurt: P7J) is pleased to announce its
acceptance of a proposal from SGS Canada Inc.
for metallurgical testing
on the River Valley platinum group metal (PGM) deposit, located 100 km
to the northeast of Sudbury (Figure 1).
The deposit is currently owned
100% by PFN.
On May 1, 2012 PFN announced a new NI43-101 compliant
mineral resource estimation.
The estimated Measured + Indicated mineral
resources at a cut-off grade of 0.80 g/t PdEq total 91,339,500 tonnes
grading 0.84 g/t Pd+Pt+Au, 0.06% copper and 0.02% nickel (1.38 g/t
PdEq).
The Inferred resources total 35,911,000 tonnes grading 0.53 g/t
Pd+Pt+Au, 0.06% copper and 0.03% nickel (1.07 g/t PdEq).
The
distribution of the River Valley mineral resources is represented in
Figure 2.
The following figures can be viewed at:
http://www.pfncapital.com/s/NewsReleases.asp?ReportID=538469
Figure 1.
Location of the PFNs 100% owned River Valley PGM Project
relative to the Sudbury and its metallurgical facilities, northern
Ontario, Canada Valley Property, Sudbury region.
Figure 2.
Distribution of the NI43-101 compliant mineral resources on
the River Valley PGM Project
With these mineral resources, the River Valley Project is to be
assessed as a large open pit PGM-Cu-Ni mining and milling operation as
the project advances towards a Preliminary Economic Assessment
(Scoping) Study.
In support of this study, a metallurgical test program
is to be completed and build on limited preliminary test work completed
intermittently between 1999 and 2006.
SGS Canada Inc.
has extensive
experience with these types of low sulphide mineralization,
particularly in the development of economically viable flow sheets.
The
metallurgical test program includes sample preparation and
characterization, grindability testing, ore beneficiation, flotation
testing and environmental testing.
Initial ore sorting and dense media
separation tests may also be performed.
Two diamond drill holes will provide material for the metallurgical
test program.
One of the holes will be drilled at the Dana North Zone
and the other at the Dana South Zone.
Each hole is anticipated to
provide 500 kg of core material, allowing for: 1) extensive test work
on a single composite sample from each zone plus an overall composite
sample of the two zones; and 2) comprehensive assaying and QEMSCAN
studies to follow the PGM during the test work.
The drilling is planned
to be completed and the materials delivered to SGS in August.
The test
program should be completed by the end of the year.
Mr.
Al Hayden,
P.Eng.
and Associate of NordPro Mine & Project Management Services
(Thunder Bay) has been hired by PFN as its metallurgical consultant to
supervise the study and review results.
About River Valley Project
In January 2011, Pacific North West Capital Corp.
successfully
negotiated the 100% acquisition of the River Valley PGM Project from
Anglo Platinum Limited.
The River Valley Project is one of the largest
undeveloped primary PGM Projects in North America.
The project has
excellent infrastructure support and is located 100 km from the city of
Sudbury, Ontario, Canadas largest nickel-copper-PGM mining and metal
recovery centre.
The NI43-101 compliant mineral resources for the River Valley Project
effective May 1, 2012 are as follows: (please click on the link below)
http://www.pfncapital.com/s/NewsReleases.asp?ReportID=538469
Notes to Mineral Resources in above table
1.
The mineral resource estimates in this press release use the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards
on Mineral Resources and Reserves, Definitions and Guidelines prepared
by CIM Standing Committee on Reserve Definitions and adopted by CIM
Council on November 27, 2010.
The mineral resource estimates provided
in this report are classified as "measured", "indicated", or "inferred"
as defined by CIM.
According to the CIM definitions, a Mineral Resource
must be potentially economic in that it must be "in such form and
quantity and of such grade or quality that it has reasonable prospects
for economic extraction".
2.
For the River Valley project, a palladium equivalent (PdEq) cut-off
grade was assigned based on economic assumptions from comparisons to
other projects, and was used in the resource estimations.
Resources
reported in this press release use a cut-off of 0.80 g/t PdEq.
Grades
have assumed 100% recoveries.
The parameters used to generate the PdEq
value are provided below:
PdEq=( (Au grade*$Au*Factor1)+(Pt grade*$Pt*Factor1)+(Pd
grade*$Pd*Factor1)+(Ni grade*$Ni*Factor2)+(Cu grade*$Cu*Factor2) +(Co
grade*$Co*Factor3))/ ($Pd*Factor1)
$Au = US$1271 per oz.
$Pt = US$1885 per oz.
$Pd = US$896 per oz.
$Ni = US$ 9.74 per lb.
$Cu = US$3.00 per lb.
$Co = US$15.90 per lb.
Factor1 = 0.0321508 (converts ounce per tonne to grams per tonne)
Factor2 = 22.04622 (converts pounds to grade percent)
Factor3 = 0.002205 (converts pounds to ppm)
3.
The mineral resources were estimated using a block model with parent
blocks of 10m x 10m x 5m and using ordinary kriging (OK) methods for
grade estimation.
A total of eight individual mineralized domains were
identified.
The determination technique of the mineral resource is
based on the combination of geological modelling, geostatistics and
conventional block modelling using the OK method of grade
interpolation.
The block model resource estimate prepared by the Tetra
Tech, was based on more than 96,980 metres of diamond drilling in 462
diamond drill holes.
The assay data was reviewed and a composite
interval of 2.0 metres was used.
4.
Statistical and Variogram analyses were performed to determine the
"nugget effect".
5.
Rhodium grades were not estimated by the OK methodology.
Rhodium
values were determined using a regression formula based on the platinum
and palladium grades.
Rhodium values are not incorporated into the PdEq
value.
The PdEq value also does not include silver.
6.
The QAQC protocols and corresponding sample preparation and shipment
procedures for the River Valley Project have been reviewed and approved
by Tetra Tech.
7.
The NI43-101 compliant technical report was filed on SEDAR June 14,
2012
Qualified Person Statement
This news release has been reviewed and approved for technical content
by Dr.
William Stone, President & COO of PFN, a Qualified Person under
the provisions of National Instrument 43-101.
About Pacific North West Capital Corp.
PFN is a mineral exploration company whose philosophy is to be a
project generator, explorer and project operator in order to
option-joint venture its projects through to production.
PFN is focused
on the discovery, exploration and development of PGM and nickel-copper
sulphide deposits in geologically prospective regions in North America,
particularly Canada.
The Companys key asset is its 100% owned River
Valley PGM Project in the Sudbury region of northern Ontario.
PFN also
has PGM and nickel-copper projects and properties in northwest Ontario,
Saskatchewan, and Alaska.
The Company continues to evaluate PGM and
nickel-copper properties and projects in North America for potential
acquisition opportunities.
Please send requests for further information to:
Harry Barr
Chairman & CEO
Pacific North West Capital Corp.
Tel: 604-685-1870
Bill Stone
President & COO
Pacific North West Capital Corp.
Tel: 416-368-5268
On behalf of the Board of Directors
Harry Barr
Chairman and CEO
For further Information, contact: Tel: +1.604.685.1870 Fax:
+1.604.685.8045
Email: , or visit www.pfncapital.com
650 - 555 West 12th Avenue, Vancouver, B.C., Canada, V5Z 3X7
Neither the TSX nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended.
All statements, other than
statements of historical fact, included herein are forward-looking
statements that involve various risks and uncertainties.
There can be
no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements.
Important factors that could cause
actual results to differ materially from the Companys expectations are
disclosed in the Companys documents filed from time to time with The
Toronto Stock Exchange, British Columbia Securities Commission and the
United States Securities & Exchange Commission.
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Copyright (c) 2012 PACIFIC NORTH WEST CAPITAL CORP.
(TSX:PFN -
OTCQX:PAWEF - FSE:P7J.F) All rights reserved.
For more information
visit our website at http://www.pfncapital.com/ or send
mailto:
Message sent on Tue Jul 24, 2012 at 6:18:44 AM Pacific Time
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