NEW AGE METALS INC
Vancouver BC (January 27, 2015) - Pacific North West Capital (TSX.V) (PFN or the "Company") (TSX.V: PFN; Frankfurt: P7J.F; OTC Pink: PAWEF)is pleased to announce Company plans for winter exploration program on its 100% owned River Valley platinum group metals (PGM) property. The property covers about 100 square‐km of highly prospective ground for PGM mineralization near the mining and mineral processing centre of Sudbury, Ontario.
Following the Company's strategy of exploring and developing a new primary PGM mining camp in Canada, PFN will commence a winter drill program aimed at targeting shallow, high‐grade PGM mineralization and extending the River Valley deposit farther to the east, along the trend of a surface induced polarization (IP) chargeability anomaly, dubbed Target T2.
The main objectives of the T2 Drill Program are two‐fold: 1) drill test for the presence of high‐grade mineralization that was previously drilled obliquely down‐dip; and 2) drill test a new geological model for this part of the host River Valley Intrusion. Two‐to three new holes are planned to be drilled from south to north (rather than from east to west) orthogonally across the dip of the T2 target. Targeted depths are
150m to 200m vertically below surface. The drill results will provide more accurate data on the true nature
and thickness of the PGM mineralization in the target area. Three‐dimensional modelling results for the current exploration database suggest that the T2 portion of the River Valley Intrusion rotated during movement along Grenville age faults. Such deformation‐related rotations have not previously been recognized at River Valley and present new opportunities for targeting high grade PGM mineralization.
Approximately 500 metres of diamond drilling is currently planned for the Program (Phase 1), with potential to increase the amount up to at least 2000 metres (Phase 2), depending on success. Within the scope of an increased Program, PFN also plans to carry out new surface and borehole induced polarization (BHIP) surveys above, within and under T2. Permits required for the drilling have been received and
preparations are underway. Drilling is anticipated to commence in late January.
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News ReleaseFigure 1. Location and plan for drill testing Target T2 at Dana North Zone, River Valley PGM deposit near Sudbury, Ontario.
Design holes 1 and 2 ± 6 are prioritized for drilling (Phase 1). Success could trigger drilling the remaining 6‐7 planned holes
(Phase 2)
About Pacific North West Capital
PFN is a mineral exploration company whose philosophy is to be a project generator, explorer and project operator in order to option/joint venture its projects to partners for funding through to production. PFN is focused on the discovery, exploration and development of PGM and nickel‐copper sulphide deposits in geologically prospective regions in North America, particularly Canada. The Company's key asset is its
100% owned River Valley PGM Project in the Sudbury region of northern Ontario. River Valley is one of the
largest undeveloped primary PGM projects in Canada. The Company continues to evaluate PGM and nickel‐copper properties and projects in North America for potential acquisition opportunities.
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News Release About River Valley PGM Project
River Valley is one of the largest primary PGM Projects in Canada.
NI43‐101 compliant near‐surface
PdEq for 1.2 Moz contained PdEq in the measured category; 66 Mt grading 1.4 g/t PdEq for 2.8 Moz contained PdEq in the indicated category; and 36 Mt grading 1.1 g/t PdEq for 1.2 Moz contained PdEq in the inferredcategory (see PFN's website for details).
The Project is located within 100 road‐
km of Sudbury and is readily accessible
via paved and gravel
roads with
settlements, power and rail all nearby.
The River
Valley PGM deposit is
overlain by mining leases owned 10 %
by PFN.
Exploration upside is
enormous, particularly at depth.
The technical content of this new release has been prepared, reviewed and approved by Dr. William Stone, P.Geo., principal consulting geologist to Pacific North West Capital Corp. and a Qualified Person under the provisions of National Instrument 43‐101.
On behalf of the Board of Directors
Harry Barr Chairman and CEOFurther Further Information: Tel: +1.604.685.1870 Fax: +1.604.685.8045
Email: info@pfncapital.com, or visit www.pfncapital.com
Suite 101 - 2148 West 38th Ave., Vancouver, BC, V6M 1R9
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements. This release contains forward‐looking statements that involve risks and uncertainties. These
statements may differ materially from actual future events or results
nd are based on current expectations or beliefs.
For this purpose, statements of
historical fact may be deemed to be forward‐looking statements. In addition, forward‐looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward‐looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward‐looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward‐looking statements.
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