www.pfncapital.com
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J.F) 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, the Company's current option/joint ventures agreements are with Anglo Platinum, First Nickel and Alto Ventures. In addition, Pacific North West Capital Corp. is also the majority shareholder of Fire River Gold Corp (FAU:TSX.V) who is currently developing the Nixon Fork Gold Mine in Alaska.
Pacific North West Capital Corp. is well funded with an experienced management team and the ability to take advantage of the tremendous opportunities that are available in the mining sector today. Our focus will be to acquire advanced stage precious metals projects, continue to expand our PGM and base metals division and to look for special situations and under-funded projects in the resource sector.
Pacific North West reports high grade results from drilling programme as Destiny gold project
Pacific North West Capital (TSX: PFN, OTCBB: PAWEF, Frankfurt: P7J) and Alto Ventures (TSX-V: ATV) reported high grade results from their Destiny gold project in Quebec, which included gold grades of up to 44.39 g/t (grams per ton).
The first five diamond holes drilled as part of a 5,000m (metre) 14 hole programme intersected intervals of 0.5m grading 44.39 g/t gold, 39.5 g/t gold and 20.6 g/t gold within wider intervals averaging 4.36 g/t gold across 6.3m, 4.61 g/t gold across 4.9m and 2.26 g/t gold across 5.2m respectively.
Completion of the programme, which was designed to expand the known resources at the DAC zone of the project through infill and step-out drilling, is expected within the next three weeks and will be followed by an upgraded resource estimate, currently expected in early 2010.
The Destiny gold property consists of 175 mining claims totalling 7,260 ha (hectares). Alto owns 100% of the claims with PFN holding the right to earn a 60% interest in the project over a four year period by completing C$3.5 million in exploration expenditures, paying Alto C$0.2 million and providing it with 250,000 shares in the company. PFN will form a joint venture with Alto after securing the interest to develop the project.
The DAC zone hosts a NI 43-101 compliant indicated resource of 166,863 tonnes grading 6.88 g/t (grammes per tonne) gold for a total of 36,892 oz (ounces) and an inferred resource of 444,753 tonnes grading 4.46 g/t gold for 63,839 oz.
