Pacific North West Capital Corp. Reports Up To 3.04% Lithium Oxide On The Lithium Two Project, SE Manitoba
November 17, 2016 (Source) —
- Phase One Program of pegmatite sampling completed on Pacific North West Capital’s (PFN) Lithium Projects in SE Manitoba by its 100% owned Lithium Division, Lithium Canada Developments (LCD)
- Two main pegmatites were sampled
- Multiple high grade surface samples from the Eagle Pegmatite yielding assays of up to 3.04% Li2O
- Surface samples from the FD No. 5 Pegmatite yielded assays of up to 2.08% Li2O
- 2000m drill program recommended and a detailed mapping and sampling program.
Pacific North West Capital Corp. (“PFN” the “Company”) (TSXV: PFN; OTCQB: PAWEF; FSE: P7J) is pleased to announce that its 100% owned subsidiary, Lithium Canada Developments has received the assays from its 2016 Phase One Field Program on the Lithium Two Project. The company considers these results to be very positive and highlights the lithium potential of the Lithium Two Project.
The Lithium Two Project is located north of Cat Lake, approximately 145 kilometers (90 miles) northeast of Winnipeg, Manitoba (Canada) and 22 kilometers north of the Tanco Mine Site (Figure 1). Geologically, the project is situated in the Cat Lake portion of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite, which has been mined since 1969 at the Tanco Mine Site. At one time, the Tanco Mine was North America’s only producer of Spodumene (a primary lithium mineral). This Project has excellent access via a major gravel covered provincial highway in the project area.
Two historically known Pegmatites exist in the project area; the Eagle Pegmatite and the F.D. No. 5 Pegmatite. Numerous other surface exposed Pegmatite Dykes occur in the project area. Surface samples were collected during a Phase One Exploration Program to evalute the two major Pegmatites. Assays are displayed in Table 1 and sample locations are shown in Figure 2.
The Eagle Pegmatite has been reported to be exposed at surface as a series of lenticular Spodumene-bearing Dykes, over a distance of about 823 meters, with a general strike of 077? and a near vertical dip. Approximately 200 meters of the Eagle Pegmatite was examined in this program. In 1947, drilling of the Eagle Pegmatite estimated that there was 545,000 tonnes (600,000 tons) of Spodumene with an average content of 1.4% Li2O to a depth of 60 meters (200 feet). This is a historic estimation and is not NI 43-101 compliant and should not be relied upon. The Eagle Pegmatite remains open to depth.
The F.D. No. 5 Pegmatite is exposed over an area of 15 square meters, but is poorly exposed away from the main showing. This Pegmatite strikes at 80? and dips near vertically to the north. The Pegmatite has not been previously drill tested.
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The Lithium content over each of the sampled Pegmatites is extremely high. In addition, Tantalum, Cesium and Rubidium contents are enriched – consistent with a Lithium-Cesium-Tantalum (LCT) Type Pegmatite. LCT Type Pegmatites are the deposit types of interest in Lithium Exploration. The Tanco Pegmatite is a LCT Type Pegmatite.
The Pegmatite samples were sent to the Activation Laboratories facility in Ancaster, Ontario for analysis. Samples were prepared using the lab’s Code RX1 procedure, in which samples are crushed up to 95% passing through a 10 mesh, riffle split, and then pulverized with mild steel to 95% passing 105 um. Analyses were completed using the lab’s Ultratrace 7 Package. This package is a sodium peroxide fusion, which allows for total metal recovery and is effective for the analysis of sulphides and refractory minerals. Assay Analysis is carried out using ICP-OES and ICP-MS instrumentation. Due to the reconnaissance and prospecting nature of the Phase One Program, independent standards or blanks were not submitted with the samples. However, Activation Laboratories followed their own internal QA/QC procedures. It is recommended that for future detailed mapping/sampling programs and for drilling, a full QA/QC program of standards, duplicates and blanks be implemented.
It is recommended that additional samples be collected along the strike of the Eagle Pegmatite and during reconnaissance sampling of the minor pegmatites in the project area. Additional sampling will occur over the next few weeks. The sampling results will be utilized to create a surface distribution map of the lithium content. During the 2017 field season, it is recommended that the area be mapped in detailed with the purpose of understanding the controls on the Pegmatite emplacement and discovering more Pegmatites. A drill program of 2000 meters is recommended for 2017 to test the Eagle and F.D. No. 5 Pegmatite Dykes.
To date, the company has approximately 6,318 hectares (15,612 acres) of mineral claims, with Lithium Mineral Potential in the Cat Lake-Winnipeg River Pegmatite Field of southeast Manitoba. PFN is the largest mineral claim holder in the Pegmatite Field. As part of company’s Prospector Generator Model, negotiating is currently ongoing with interested 3rd parties for possible Option/Joint Ventures and other Exploration Initiatives.
About PFN’s PGM Division
PFN’s flagship project is its 100% owned River Valley PGM Project (PFN Website – River Valley Project) in the Sudbury Mining District of northwest Ontario (60 kilometers due east of Sudbury, Ontario). Presently the River Valley Project has Measured + Indicated resources of 91 million tonnes @ 0.58 g/t* palladium, 0.22 g/t platinum, 0.04 g/t gold at a cut-off grade of 0.8 g/t for a PdEq of 2,463,000 ounces PGM plus gold. River Valley PGM-copper-nickel sulphide mineralized zones remain open to expansion and is undergoing continued exploration. Results are expected from the fall drill program in the next few weeks.
Harry Barr, Chairman and CEO comments; “The positive results from the Lithium Two project correlate well with managements objective to bring three of the companies five lithium projects to the drill stage before the end of the first quarter of 2017. We have also just completed the fall drill program of the 100% owned River Valley Project, which is one of Canada’s largest undeveloped primary PGM projects. Results from both divisions are expected over the next few weeks.”
The contents contained herein that relates to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Dr. Bill Stone, Principal Consulting Geoscientist for Pacific North West Capital Corp. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content.
On behalf of the Board of Directors
” Harry Barr “
Chairman and CEO
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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 and 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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