TSX: PFN
OTCQX: PAWEF
FRANKFURT: P7J.F
News Releases
| | | Drilling Resumes at River Valley, River Valley PGM Project, Sudbury, Ontario | | |
| September
17th, 2004 - Vancouver, BC
-- Pacific North West Capital Corp. (PFN) is pleased to
announce that Phase 8 drilling on the River Valley PGM
Project has resumed. A total of 15,000 metres is budgeted in this phase, and will
test several of the new targets generated as a result of
the summer exploration program as well as further testing
the Varley, Azen, Jackson and Razor zones which were
discovered in the Phase 7 program. |
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| The
Summer program was successful in identifying new areas of
prospective PGM mineralization within the 14km long strike
length of the contact of the River Valley Intrusive. New
areas delineated include. -- Lismer's Extension, Azen
North, Jackson's Flats East and West as well as the Drop
and Casson Zones.
In addition the PGM mineralization has been traced
for 2km in a breccia contact at the Pardo zone located to
the north of the Dana Lake Deposit. (see
attached map) |
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| Induced
polarization (IP) and magnetic surveys are being carried
out on the Lismer's Extension, Pardo, Casson and Azen
areas. The surveys are delineating drill targets where
prospecting has returned anomalous PGM assay values. The results show the extension of the breccia contact style
mineralization with strong chargeability anomalies along
the contact and into the intrusive body. |
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| A
high resolution airborne "Heli Mag" Survey has been
contracted and is due to commence by the weekend. The
survey data will be used to further delineate new drill
targets and to test new conceptual models for the River
Valley mineralization. |
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| The
River Valley Project is a Joint Venture between Anglo
American Platinum Corporation Limited and Pacific North
West Capital Corp. Anglo
Platinum is currently funding a $3 million exploration
program which commenced
mid May and is expected to be completed by December
2004. Anglo
Platinum may earn up to a 65% interest by placing the
project into commercial production. The Qualified Person
for this Release is Peter Dasler, P.Geo,
VP Business Development, Pacific North West Capital
Corp. |
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On behalf
of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
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| For further
information, please contact our Investor Relations Department at
Toll Free 1-800-667-1870 |
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| The Toronto Stock Exchange have not reviewed and does
not accept
responsibility for the adequacy or accuracy of this release. |
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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 Company's expectations are
disclosed in the Company's documents filed from time to time
with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange
Commission. Not to be construed as an offer to buy or sell securities of this company.
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| | You can view the Next News Releases item: Wed Sep 22, 2004, Application to Extend Warrants to September 30, 2005
You can view the Previous News Releases item: Thu Sep 16, 2004, RESULTS FROM PHASE 1 PROGRAM RESULT IN LONMIN INCREASING BUDGET BY US $600,000 TO US$1.8 MILLION, UNION BAY PLATINUM PROJECT
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