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Pacific North West Capital Corp.

Publié le 19 juin 2007

Nickelmuir Project Acquired, Timmins, Ontario - Aggressive Nickel & PGM Exploration Acquisition Prog

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Mots clés associés :   Canada | Copper | Nickel | Palladium |

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Pacific North West Capital completes acquisition of the Nickelmuir Project, Timmins, Ontario
Aggressive Nickel & PGM Exploration Acquisition Programs Underway

  • Grab samples of up to 0.94% Ni, 0.10% Cu, 0.27gpt Pt, and 0.20gpt Pd
  • PFN Doubles Drill Program on West Timmins Nickel to 4000 meters (June 15, 2007)
  • 2007 Exploration Programs Underway on 5 Platinum Group Metal (PGM) Projects
  • Finalizing NEW Labrador Nickel acquisitions & expanding on Saskatchewan Nickel Projects
June 19, 2007, Vancouver, BC -- Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J) announces the completion of acquisition of the Nickelmuir Project. The project consists of a targeted Nickel / Copper prospect in the Kenogaming Twp ~70 Km West of Timmins mining district. The project covers a number of mapped cumulate-textured ultramafic rocks (dunite to melagabbros) along with Ni-Cu-PGM occurrences which have report grab samples of up to 0.94% Ni, 0.10% Cu, 0.27gpt Pt, and 0.20gpt Pd. Management is now completing its data review and plans to begin exploration immediately on the Nickelmuir project. The Nickelmuir Project has had virtually no modern day exploration and presents an opportunity to apply the latest technology to a known mineralized area in one of Canada's best known mining camps.

PFN's objective is to become one of the largest Nickel exploration companies in the Timmins mining district. An aggressive acquisition program will continue through out 2007, in order to position the Company and its shareholders for what it believes will be the largest expansion in Nickel exploration since the 1990s. Harry Barr, President & CEO of Pacific North West Capital stated, "Our objective is to significantly expand our Nickel & PGM exploration portfolios in North America." PFN's Vancouver and Ontario based technical team is currently guiding the acquisition process and preparing for summer and fall exploration programs.

West Timmins Nickel Project

On June 15, 2007 PFN announced that the optioned/joint venture with Xstrata Nickel diamond drill program has been doubled to 4000 meters from its original commencement on May 11, 2007. The targets are within the strike extension of the interpreted mine stratigraphy of the Montcalm Intrusive Complex (MIC).

The West Timmins Nickel Project is optioned from Xstrata Nickel and is adjacent to Xstrata Nickel's Montcalm mine. The deposit contains a Proven Mineral Reserve of 4.1 million tonnes at 1.38% Ni, 0.64% Cu as of December 31, 2006 (Source: Xstrata Ore Reserves & Mineral Resources Report March 2007). 

Ore is transported 108 km east from the Montcalm Mine to the Kidd Creek Metallurgical Complex to be processed. Under the terms of the Agreement PFN will spend $4 million over a 4 year period in order to vest with a 100% interest in the Project. Xstrata, for its part, will retain a 2% NSR and may, under certain circumstances, back in and earn up to a 65% interest by either completing a feasibility study or spending $20 million on a feasibility study whichever occurs first. PFN is the Project Operator. 

About Pacific North West Capital Corp. 


Pacific North West Capital Corp. is a North American industry leader in the search for Platinum Group Metals (PGMs) and Nickel. 

PFN is currently in the most aggressive acquisition phase of the company's history and is committed to advancing its existing projects and acquiring new projects via self-funding or option/joint venture agreements with major mining companies. The company has over $8 million in working capital and securities.

In late 2004 PFN established a Nickel Division that is rapidly growing and today has an Option / Joint Venture in the Timmins Mining District with Xstrata Nickel with further announcements pending on other projects. An extensive geophysical and ground proofing exploration program has been completed. PFN has expended approximately $1.69 million on the project to date. In May, a diamond drill program commenced to evaluate EM conductors to depths of 200 meters south of the Montcalm Mine claims, Timmins, Ontario. The targets are within the strike extension of the interpreted mine stratigraphy of the Montcalm Intrusive Complex (MIC). The program was expanded to 3000 meters in June 2007.

Stillwater Mining Company (NYSE: SWC), the largest producer of palladium and platinum in the Western hemisphere, recently purchased 11% of PFN and is a strategic partner in the search for new platinum group metal discoveries in North America. PFN and Stillwater have entered into a non-binding Letter Agreement pertaining to ongoing exploration of the Goodnews Bay Platinum Project. The Letter Agreement also provides for Stillwater to fund reconnaissance on other Alaskan PFN exploration projects with the provision for Stillwater to enter into option/joint venture agreements on the Goodnews Bay Project and 1 or more of the reconnaissance projects. 

Under the terms of the Letter Agreement, Stillwater will spend $4 million to earn 50% of GBPP by December 31, 2010. Stillwater may elect to increase its interest to 60% by incurring an additional $8 million in exploration expenditures within an additional two year period or upon completion of a Feasibility Study, whichever occurs first. Stillwater may increase its interest to 65% by arranging for 100% of the project financing required to place the Property into Commercial Production within an additional three years. 

Under the Reconnaissance portion of the Letter Agreement, Stillwater will expend $500,000 in 2007 which will allow it to inspect several of PFN's proposed projects. In event Stillwater elects to continue participating in one or more projects, they will automatically be able to enter into one or more agreements identical to the Goodnews Bay. Pacific North West Capital is the project operator.

In addition, PFN is exploring the River Valley Project, located near Sudbury, Ontario, joint ventured 50/50 with Anglo Platinum Limited ("Anglo Platinum"), the world's largest primary producer of platinum. Anglo Platinum has committed over $19 million to the River Valley Project to date and may earn a 60% interest in the project by completing a feasibility study and a 65% interest by funding it through to production. 

Current measured resource is 8.53 million tonnes containing 353,200 ounces of palladium (1.29 g/t), 116,800 ounces of platinum (0.43 g/t) and 20,400 ounces of gold (0.07 g/t) and an indicated resources of 22.02 million tonnes containing 600,700 ounces of palladium (0.85 g/t), 212,800 ounces of platinum (0.30 g/t) and 39,000 ounces of gold (0.06 g/t) with an additional inferred resource of 2.39 million tonnes containing 67,000 ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) using a 0.7 g/t cut off (pt/pd) (PFN press release March 22, 2007) . The objective of the 2006 $1.1 million Phase 9A budget was to extend the new Platinum Group Metal mineralized horizons discovered during the 2005 fieldwork and to better understand the structural controls on the mineralization. Management recently presented Anglo Platinum with the 2007 work program and budget. 

In 2006, PFN signed a Cooperation Agreement with SOQUEM Inc., a wholly owned subsidiary of the Soci�t� G�n�rale de Financement du Qu�bec ("SGF"), mandated to put new mines into production. Under the terms of the Agreement, PFN and SOQUEM are participating in a 50/50 joint venture with the objective of identifying viable PGM and base metal properties for further exploration. PFN and SOQUEM recently announced a Phase Two 2007 budget of $460,000 to advance work on reconnaissance properties in Quebec. The summer exploration program has begun on this project.

PFN management is currently negotiating and acquiring several new PGM and Nickel projects throughout North America more specifically in Labrador, Quebec, Ontario, Manitoba, Saskatchewan, British Columbia, North West Territories and Alaska. 

The company has over $8 million in working capital and securities.

The Qualified Person for this release is John W. Londry, M.Sc, P. Geo, VP Exploration, Pacific North West Capital.


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

This email should not be construed as an offer to buy or sell securities of Pacific North West Capital Corp.

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Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Pacific North West Capital Corp.

EXPLORATEUR
CODE : PFN.TO
ISIN : CA6949161070
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Pacific NorthWest est une société basée au Canada.

Pacific NorthWest détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont NIXON FORK en USA et GLITTER LAKE, RAGLAN HILLS, RIVER VALLEY, COLDWELL, SWAYZE, ROCK & ROLL, NICKEL PLATS et DESTINY GOLD au Canada.

Pacific NorthWest est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,4 millions CA$ (1,3 millions US$, 927 314 €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2003 à 1,40 CA$, et son plus bas niveau récent le 13 janvier 2014 à 0,02 CA$.

Pacific NorthWest possède 91 619 461 actions en circulation.

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Présentations des Compagnies de Pacific North West Capital Corp.
25/02/2008-"Harry Barr Puts Pacific North West Capital At The Forefron...
Rapports annuels de Pacific North West Capital Corp.
2007 Annual Report
Financements de Pacific North West Capital Corp.
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18/07/2011Closes $2,550,750 Non-brokered Private Placement
13/07/2011Closes 1st Tranche Of Private Placement
05/07/2011- Non-Brokered Private Placement Oversubscribed
22/02/2011$3,000,000 Non-Brokered Private Placement
31/03/2008Closes $3,350,000 Private Placement
02/06/2007Closes Private Placement/Expands Institutional Shareholder B...
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07/09/2011Appoints New President & COO
03/09/2009Announces Appointment of Christopher Davies
23/02/2009Appoints John Londry to Board of Directors
18/11/2008John Londry, Vice President Exploration, Retires, Pacific No...
Projets de Pacific North West Capital Corp.
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19/06/2012(River Valley)Announces a New Platinum Group Metal Zone on its River Valle...
15/06/2012(River Valley)Announces SEDAR Filing of NI 43-101 Mineral Resource Estimat...
01/05/2012North West Capital Announces 2.5 million ounces PGM+Gold Mea...
13/12/2011Stakes 220 square kilometres 10 km north of Lac des Iles Min...
08/12/2011(River Valley)Commences 2200 Metres Exploration Drill Program at River Val...
20/05/2011(River Valley)Announces 1.3 gt (0.04 opt), 3E* over 65m (213.3 feet) at th...
01/03/2011(River Valley)Announces 15,500 Metre Drill Program River Valley Platinum G...
15/10/2009(Destiny Gold)Commences Drilling on the Destiny Gold Project
05/08/2009(Raglan Hills)and First Nickel Announce New PGM Zone on Raglan Hills Joint...
29/06/2009(Nixon Fork)grants option to Fire River Gold on Nixon Fork Gold Mine, Al...
11/03/2009(Pgm A)Commences Drilling on the Fiedmont PGM Property, Quebec
26/11/2008(Chénéville)& SOQUEM Announce Completion of Drilling at the Ch=E9n=E9vil...
15/09/2008(West Timmins Project)Completes Deep Penetrating UTEM 3 Geophysical Survey Over We...
25/08/2008(Raglan Hills) Initiate Surface Mapping and Sampling Program on the Raglan...
26/06/2008(Raglan Hills)First Nickel Complete Airborne Geophysical Survey on Raglan ...
03/06/2008(Goodnews) Commence $1,000,000 Drill Program - Goodnews Platinum Proje...
05/05/2008(Pfn Davis-kelly)Ni-Cu-PGE Mineralization Discovered on PFN's Tonsina Propert...
01/04/2008(West Timmins Project)A Deep Penetrating UTEM Geophysical Program is Underway over...
11/03/2008(Coldwell)Pacific North West Capital Acquires New PGM Project in the C...
20/08/2007(West Timmins Project)Completes Phase One of Drill Program on West Timmins Propert...
Communiqués de Presse de Pacific North West Capital Corp.
09/01/2014Announces Voluntary TSX Delisting, TSX Venture Listing and 3...
24/10/2013Platinum Group Metals Update
25/07/2013Announces First Tranche Closing
02/11/2012letter
10/09/2012Announces Results of AGM and Change of Director
20/03/2012(River Valley)Announces High Grade PGM Results at Depth in Dana South Zone...
21/02/2012(River Valley)Completed the First Component of the Environmental Baselines...
10/01/2012(River Valley)Announces Additional High Grade PGM Results for its River Va...
09/01/2012Launches Online Investor Relations and Social Media Program ...
13/10/2011(River Valley)Excellent Drill Results Continue at Pacific North West Capit...
04/08/2011Reports Significant Rhodium Concentrations of Up To 0.17...
26/07/2011(River Valley)- PFN Reports On Geochemical Study for Predicting Five-E...
27/04/2011(Rock & Roll)New NI43-101 Resource on the Rock & Roll Gold-Silver-Polymet...
16/04/2011An Interview of Harry Barr, President of Pacific North West ...
15/03/2011Closes $3,000,000 Non-Brokered Private Placement
15/03/2011Closes $3,000,000 Non-Brokered Private Placement
01/09/2009Acquires Option on Destiny Gold Project, Québec
19/08/2009Option to Acquire 100% of Rock & Roll Property, British Colu...
22/12/2008President's Message
18/12/2008Announces Option to Acquire The Nixon Fork Gold Mine in Cent...
16/12/2008Options Fiedmont Platinum Group Metals (PGM) Property
27/11/2008Visit Pacific North West Capital at the 2008 Hard Assets Inv...
19/11/2008and Benton Resources Corp. Announce Drill Results from the S...
30/09/2008and Benton Resources Commence Drill Program on Heenan Proper...
08/09/2008 Thunder Target Update
03/09/2008"Major producer teams up with junior to explore Southwest Al...
03/07/2008Benton Resources Complete Helicopter-borne Magnetic and VTEM...
18/04/2008 Completes VTEM Geophysical Survey Over Nickel Plats Project...
07/04/2008 to Attend European Gold Forum
27/02/2008 & SOQUEM Agree to Phase III PGM Budget
17/12/2007President's Letter 2007
05/11/2007Phase 9B $525,000 Exploration Budget on River Valley, Valley...
11/10/2007Completes Phase III Acquisition Program, Nickel Plats Projec...
18/09/2007Acquires Three New PGM Projects, Coldwell Complex, Ontario
13/08/2007President's Message / 2007 Summer Update
28/06/2007announces Completion of Phase II Nickel Acquisition, Saskatc...
21/06/2007Joins Benton and Teck in Search for Nickel in Labrador
19/06/2007Nickelmuir Project Acquired, Timmins, Ontario - Aggressive N...
14/06/2007Phase I Nickel Acquisition Program Completed Saskatchewan, P...
16/05/2007Corp. (PFN.TSX) joins Golden Chalice Resources (GCR.TSX-V) i...
14/05/2007/ SOQUEM Acquires First Round of Platinum Group Metals Prope...
11/05/2007/ Xstrata Nickel commence drilling at West Timmins Nickel Pr...
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