| | Published : May 16th, 2007 | Corp. (PFN.TSX) joins Golden Chalice Resources (GCR.TSX-V) in hunt for Ni |
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TSX -
PFN OTCBB - PAWEF Frankfurt: P7J |
http://www.pfncapital.com |
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May 11, 2007, Vancouver, BC -- Pacific North West Capital Corp. ('PFN') (TSX: PFN; OTCBB: PAWEF; Frankfurt:
P7J), is pleased to announce that a Diamond drill program (approximately 2,000
metres) has commenced to evaluate EM conductors to depths of 200 metres 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).
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The PFN drill program will evaluate deep conductive targets, identified from a Pulse EM survey, with coincident magnetic signatures similar to those identified over the Montcalm Mine mineralization. These drill targets are also supported by the identification of a geological environment from previous drill results in 2005, to the south-west of the Montcalm Mine, similar to that hosting the ore mineralization (Cu-Ni) in the Montcalm Mine. The West Timmins Project was obtained by a Joint Venture with Xstrata Nickel, whereby PFN may earn a 100% interest in the West Timmins Project. The West Timmins Project covers 355 kms2 (26,928 hectares), some 60 kms west of Timmins, Ontario (see location figure below).
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Numerous other anomalies, along strike of the MIC, delineated by airborne EM
(AeroTEM), downhole geophysics, and geochemical techniques
(MMI survey) remain to be drill tested. Other geological target areas within the MIC still have to be evaluated by ground reconnaissance surveys. These follow-up programs are expected to be initiated later in the year.
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The West Timmins project is located adjacent to Xstrata Nickel's Montcalm deposit. The deposit contains a Proven Mineral Reserve of 4.1 million tonnes @ 1.38% Ni, 0.64% Cu as of December 31, 2006. Ore is transported 108 km east from the Montcalm Mine to the Kidd Creek Metallurgical Complex to be processed (See Location Figure).
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About Pacific North West Capital Corp.
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Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J) is a premier explorer in the search for Platinum Group Metals
(PGMs) in North America and is currently in the most aggressive acquisition phase of the company's history focusing on new PGM and Nickel projects. PFN is committed to advancing its existing projects and acquiring new PGM and base metals projects via self-funding or option/joint venture agreements with major mining companies. The company has $4.7 million in working capital and no debt.
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. Stillwater Mining recently signed a letter of intent to invest $4.5 million into PFN's Alaskan exploration and reconnaissance programs including the Goodnews Bay Platinum Project. PFN is the project operator.
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PFN is currently 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 and indicated resources: 30.5 million
tonnes containing 953,900 ounces of palladium (0.97 g/t),
329,500 ounces of platinum (0.34 g/t) and 59,500 ounces of
gold (0.061g/t) with an additional 2.3 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) of Inferred Resources using a 0.7 g/t cut off (pt/pd).
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. In
March management presented Anglo Platinum with the 2007 work
program and budget. PFN is the project operator.
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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 $460,000 to advance
work on reconnaissance properties in Quebec.
PFN's technical team is aggressively acquiring new PGM and
base metal projects in Quebec, Ontario, Manitoba,
Saskatchewan, British Columbia, North West Territories and
Alaska.
The Qualified Person for this release is John W. Londry,
M.Sc, P. Geo, VP Exploration, Pacific North West Capital.
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On
behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO |
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For
further information, please contact our Investor Relations
Department at Toll Free 1-800-667-1870 |
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Toll free 1.800.667.1870
Telephone: +604.685.1870 Fax: +604.685.8045 info@pfncapital.com This email should not be construed
as an offer to buy or sell securities of Pacific North West Capital Corp.
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : PFN.TO |
ISIN : CA6949161070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Pacific NorthWest is based in Canada. Pacific NorthWest holds various exploration projects in Canada. Its main exploration properties are NIXON FORK in USA and GLITTER LAKE, RAGLAN HILLS, RIVER VALLEY, COLDWELL, SWAYZE, ROCK & ROLL, NICKEL PLATS and DESTINY GOLD in Canada. Pacific NorthWest is listed in Canada and in United States of America. Its market capitalisation is 711 633 as of today (US$ 655 983, € 480 180). Its stock quote reached its highest recent level on December 31, 2003 at 1.40, and its lowest recent point on January 13, 2014 at 0.02. Pacific NorthWest has 47 442 200 shares outstanding. |
Corporate Presentations of VanEck Vectors Global Alternative Energy ETF |
Annual reports of VanEck Vectors Global Alternative Energy ETF |
Financings of VanEck Vectors Global Alternative Energy ETF |
Nominations of VanEck Vectors Global Alternative Energy ETF |
Project news of VanEck Vectors Global Alternative Energy ETF |
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Corporate news of VanEck Vectors Global Alternative Energy ETF |
1/9/2014 | Announces Voluntary TSX Delisting, TSX Venture Listing and 3... |
10/24/2013 | Platinum Group Metals Update |
7/25/2013 | Announces First Tranche Closing |
11/2/2012 | letter |
9/10/2012 | Announces Results of AGM and Change of Director |
3/20/2012 | (River Valley)Announces High Grade PGM Results at Depth in Dana South Zone... |
2/21/2012 | (River Valley)Completed the First Component of the Environmental Baselines... |
1/10/2012 | (River Valley)Announces Additional High Grade PGM Results for its River Va... |
1/9/2012 | Launches Online Investor Relations and Social Media Program ... |
10/13/2011 | (River Valley)Excellent Drill Results Continue at Pacific North West Capit... |
8/4/2011 | Reports Significant Rhodium Concentrations of Up
To 0.17... |
7/26/2011 | (River Valley)- PFN Reports On Geochemical Study for
Predicting Five-E... |
4/27/2011 | (Rock & Roll)New NI43-101 Resource on the Rock & Roll Gold-Silver-Polymet... |
4/16/2011 | An Interview of Harry Barr, President of Pacific North West ... |
3/15/2011 | Closes $3,000,000 Non-Brokered Private Placement |
3/15/2011 | Closes $3,000,000 Non-Brokered Private
Placement |
9/1/2009 | Acquires Option on Destiny Gold Project, Québec |
8/19/2009 | Option to Acquire 100% of Rock & Roll Property, British Colu... |
12/22/2008 | President's Message |
12/18/2008 | Announces Option to Acquire The Nixon Fork Gold Mine in Cent... |
12/16/2008 | Options Fiedmont Platinum Group Metals (PGM) Property |
11/27/2008 | Visit Pacific North West Capital at the 2008 Hard Assets Inv... |
11/19/2008 | and Benton Resources Corp. Announce Drill Results from the S... |
9/30/2008 | and Benton Resources Commence Drill Program on Heenan Proper... |
9/8/2008 | Thunder Target Update |
9/3/2008 | "Major producer teams up with junior to explore Southwest Al... |
7/3/2008 | Benton Resources Complete Helicopter-borne Magnetic and VTEM... |
4/18/2008 | Completes VTEM Geophysical Survey Over Nickel Plats Project... |
4/7/2008 | to Attend European Gold Forum |
2/27/2008 | & SOQUEM Agree to Phase III PGM Budget |
12/17/2007 | President's Letter 2007 |
11/5/2007 | Phase 9B $525,000 Exploration Budget on River Valley, Valley... |
10/11/2007 | Completes Phase III Acquisition Program, Nickel Plats Projec... |
9/18/2007 | Acquires Three New PGM Projects, Coldwell Complex, Ontario |
8/13/2007 | President's Message / 2007 Summer Update |
6/28/2007 | announces Completion of Phase II Nickel Acquisition, Saskatc... |
6/21/2007 | Joins Benton and Teck in Search for Nickel in Labrador |
6/19/2007 | Nickelmuir Project Acquired, Timmins, Ontario - Aggressive N... |
6/14/2007 | Phase I Nickel Acquisition Program Completed Saskatchewan, P... |
5/16/2007 | Corp. (PFN.TSX) joins Golden Chalice Resources (GCR.TSX-V) i... |
5/14/2007 | / SOQUEM Acquires First Round of Platinum Group Metals Prope... |
5/11/2007 | / Xstrata Nickel commence drilling at West Timmins Nickel Pr... |
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