- 20.85 g/t gold
over 1.1 m intersected within a vein zone
averaging 8.46 g/t over 3.0m
- An IP anomaly
drilled south of the DAC Deposit identified a
new target intersecting mineralized shear zones
- 6.4% zinc
over one meter massive sulphide zone also
intersected
April 12, 2010
Vancouver, Canada-- Pacific North West Capital Corp.
("PFN") (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J)
and
Alto Ventures Ltd. (ATV: TSX-V) are pleased to
provide the results for the last three holes
(DES10-136 to 138) of the Phase II drilling program.
This program was completed in March 2010 at the DAC
Deposit on the Destiny Project, Québec. The results
from the recent Phase I and Phase II programs are
being incorporated into the extensive data base
available for the Destiny project for the next stage
of work, which may include diamond drilling.
Drilling at the DAC Deposit continued to intersect
multiple gold zones with high grade values over
significant widths (Table 1) including DES10-137
which intersected 20.85 g/t gold over 1.1 m within a
vein zone that averages 8.46 g/t over 3.0m. This
same hole intersected another gold zone containing
12.0 g/t gold over 0.5 m within a quartz-veined
shear zone averaging 1.16 g/t gold over 6.6 m and a
massive sulphide lens assaying 6.4% zinc over 1.0 m.
Table-1- Significant Gold Assays Phase II Drilling
Program |
|
 |
*Based on core angles and previous drilling, true
widths are estimated at approximately 80 to 90% of
the downhole lengths reported. Mineralized zones
generally start at 0.1 g/t gold and assay averages
may include minimal intervals of waste material. No
top cuts of assays were used.
DES10-137 intersected a one metre wide zone of
zinc-rich massive sulphides that is believed to be
part of the same sulphide horizon from which base
metal values were reported previously (see Alto and
PFN's news releases dated February 18, 2010).
Company geologists believe that the base metals are
indications of an earlier copper-zinc-gold massive
sulphide system that has been subsequently
overprinted by the gold enriched shear zones that
are host to the DAC Deposit. Table 2- summarizes the
significant base metals mineralization.
Table 2- Summary of Significant Base Metals
Mineralization in Massive Sulphide Zone
|
|
|
Drill hole DES10-138 was drilled to test an IP
geophysical anomaly approximately 100 m south of the
DAC Deposit. The hole hit bedrock at 22 m. A
mineralized shear zone averaging 0.39 g/t gold was
intersected immediately in the bedrock for 22 m.
This shear zone is the near-surface projection of
the southern most gold zone of the DAC Deposit.
DES10-138 intersected other areas of shearing from
89 to 94.4 m where the shear zone contains a one
metre wide mineralized quartz vein that assays 2.57
g/t gold. This is a new vein system that is similar
in appearance to the high grade quartz veins of the
DAC Deposit. The drill hole continued to cut
intermittent shearing and veining from 106 to 152 m
and scattered anomalous gold values up to 1.36 g/t
gold over 1.3 m are associated with some of the
quartz veins. The hole ended in a gold bearing shear
zone with the last sample of the Phase II program
containing 0.81 g/t gold from 151.2 to 152.0 m.
New discovery of quartz veins and shearing
throughout DES10-138 is very significant as it
indicates that the previously untested areas are
targets with excellent potential for finding
additional gold zones at shallow depths just south
of the DAC Deposit.
Quality Assurance/ Quality Control
Core processing included descriptive logging and
selection of samples for analyses. The NQ-size cores
were sawed in half and one half was delivered to a
commercial laboratory. The samples were delivered to
the Accurassay Preparation Laboratory in Sudbury,
where they were crushed and a 500 gram pulp was
prepared. The pulp was then shipped to Accurassay
Laboratories in Thunder Bay for analyses. The gold
assaying method uses a standard Fire Assay with AA
finish technique on a 30 gram aliquot taken from a
500 gram split from the submitted sample.
Commercially prepared standards and blanks were
inserted by Alto every 25 samples to ensure
precision of the results. The laboratory performs
repeat check assays every 10 samples on pulps to
ensure internal lab quality control.
The laboratory was instructed to prepare and analyze
a second 500 gram split from the reject for those
samples that indicated gold values of between 1 g/t
and 5 g/t on the initial analysis. The gold assaying
method on the re-split uses a standard Fire Assay
with Gravimetric finish technique on a 30 gram
aliquot. Pulp metallic assays were performed on all
samples the returned greater than 5 g/t gold on the
first assay. The results reported represent
mathematical averages of all analyses performed on
each specific sample.
Robert J. Tremblay P. Geo (Quebec), Consulting
Geologist to Alto Ventures, was responsible for
supervision of the diamond drilling program.
About Destiny Gold Project
The Destiny Gold Property is under Option to Pacific
North West Capital Corp. Under the terms of the
Option Agreement, Pacific North West Capital may
elect to pay Alto $200,000, provide Alto with 250,000 common
shares of Pacific North West Capital, and complete a
total of $3,500,000 in exploration expenditures over
a four year period to earn a 60% interest in the
Destiny Gold Property. Subsequent to vesting of its
interest, Pacific North West Capital will form a
joint venture with Alto to further develop the
project.
The property is located approximately 75 km north of
Val d'Or in the Abitibi-Témiscamingue region of
Quebec. The geological environment at Destiny
including the shear-hosted high grade quartz veins
is similar to the main Val d'Or gold belt. Val d'Or
is one of the major gold mining centres in the
Province of Québec, and currently active with many
new mine development projects. The property is road
accessible with excellent mining infrastructure and
support facilities nearby.
Mike Koziol, P. Geo., P.Eng. and Alto's President
and CEO is the Qualified Person who has reviewed and
approved this news release.
|
|
About the DAC Deposit
The main area of mineralization on the Destiny Gold
Property is the DAC zone, which occurs over a strike
length of about 600 m. In this area, four to five
identifiable intervals of quartz veining and
shear-related alteration zones carry high grade gold
mineralization, with drill intersections up to 178.5
g/t gold over a drill width of 1.0 metres. The DAC
zone hosts a NI 43-101 compliant indicated resource
of 166,863 tonnes grading 6.88 g/t gold (36,892
ounces) and an inferred resource of 444,753 tonnes
grading 4.46 g/t gold (63,839 ounces) calculated by
W.A. Hubacheck Consultants Ltd. in 2007 (see "A
Resource Estimate of the DAC Gold Deposit,
Despinassy Twp., Val d'Or, Quebec" dated January 9,
2007, available on the Alto Ventures website).
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and
development company with a portfolio of highly
prospective properties in the Canadian Shield. The
Company is currently active in Québec where it is
focussed on the Destiny Gold project in the Abitibi
Greenstone Belt and in Ontario in the Beardmore and
Shebandowan gold districts.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. is a mineral
exploration company focused on Platinum Group Metals
(PGM), precious and base metals. Management's
corporate philosophy is to be a Project Generator,
Explorer and Project Operator with the objective of
option/joint venturing projects with major and
junior mining companies through to production. To
that end, Pacific North West Capital's current
option/joint ventures agreements are with Anglo
Platinum, First Nickel, Alto Ventures and is a major
shareholder of Fire River Gold Corp.
(www.firerivergold.com)
Pacific North West Capital Corp. is well funded with
an experienced management team and the ability to
take advantage of the tremendous under funded
opportunities that are available in the mining
sector today.
Management of Pacific North West Capital plans to
use their technical, financing and deal making
abilities to acquire additional Platinum Group
metals, base metals and precious metals projects on
an international scale. To that end, the company is
in the process of adding key technical and financial
people to our management and our advisory team.
Pacific North West Capital is a member of the
International Metals Group (www.internationalmetalsgroup.com)
of Companies.
|
On behalf of the Board of
Directors
"Harry Barr"
Harry Barr, President & CEO
For further information, please contact our Investor Relations
Department at Toll Free 1-800-667-1870
The Toronto Stock Exchange have not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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.
|
