Posted by admin on Sep 23, 2016 in Company News, Featured | 0 comments
- Appointment of Trevor Richardson, as Vice-President, Business Development.
- Trevor is a Co-founder and Director of Caracle Creek International Consulting (CCIC), an International Geological consulting firm, with offices in South Africa and Canada
Vancouver, B.C., Canada / September 23, 2016 – PFN would like to announce the appointment of Trevor Richardson, as Vice-President, Business Development. Trevor is a Co-founder and Director of Caracle Creek International Consulting (CCIC), an International Geological consulting firm, with offices in South Africa and Canada. Trevor has extensive exploration experience, in Africa and Canada, in precious metals, more specifically Gold and Platinum Group Metals as well as base metals. Registered as a Professional Natural Scientist, under the South African Council of Natural Scientific Professions, Trevor has managed many multi-million dollar projects from conception through to exploration and production. Trevor was also the co-founder, CEO, President and Vice President/Director of various junior exploration companies on TSXV.
Harry Barr, Chairman and CEO comments; “We are very pleased to welcome Trevor Richardson to the Pacific North West Capital Team. Trevor’s experience as a Geologist, Platinum Group Metals Expert and International businessman, will add considerably to the company’s expertise. The fact that Trevor has developed projects from conception, through to exploration and production, as well as managing public companies, will add significantly to our the PFN Team’s experience.”
About PFN’s Platinum Group Metals Division
River Valley is Canada’s Largest Undeveloped Primary PGM Deposit.
Achievements to date and Future Plans for River Valley are outlined below as follows:
- 1.PFN currently has 100% ownership in the River Valley Project, subject to a 3% NSR, with Options to Buy Down
- 2.Completed Exploration and Development Programs, on the River Valley Property:
Include more than 600 holes drilled, since year 2000, and several Mineral Resource Estimates and Metallurgical Studies
- 3.Results for the current (2012) Mineral Resource Estimate are below
- 4.2015 Drill Program confirms New High Grade T2 Discovery
- 5.Exploration and Development Plans outlined for 2016
- 6.Ongoing Strategic Partner Search for River Valley Project
- 7.Results for the most recent Mineral Resource Estimate are summarized below:
-Prepared by Tetra Tech (Wardrop)
-High Confidence: Measured plus Indicated = 72% of total
-Reported on PdEq basis: Pd=40% & Pt=20% of the Payable Metals
-Pd to Pt ratio = 2.5:1; Cu to Ni ratio = 3:1
-High Grade Potential: particularly in the north part of the River Valley Deposit
-Resources under Evaluation for Development Potential, as Open Pit Mining Operation
CX
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- 8.Results for the 2015 Discovery Drill Program on the T2 Target:
-Drill hole intercepts much higher than the average grade, of current Mineral Resource Estimate
-Possible New Mineralized Zone at the north end of the River Valley Deposit
-Show potential to take the River Valley PGM Project in a New Direction
-Additional Drilling is slated for mid-October, 2016
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- 9.Exploration and Development Plans for 2016
-Mineral Prospecting and Geological Mapping on surface: In Progress
-Drill Programs targeted to add more higher grade: Drilling Slated for Fall 2016
-Geological Interpretation and 2D/3D Modelling of all Drill and Surface Results
-Ongoing Strategic Partner Search for River Valley
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Figure 1: Geological map showing the location of the PGM Exploration Property, acquired from Mustang Minerals Corp. The acquired property is south and adjacent to PFN’s Mining Leases, covering the River Valley PGM Project. The acquisition increases the strike length of the PGM deposit, to 16 km, 64 km2, or 16,000 acres, on PFN property.
About PFN’s Lithium Division
The Company’s new Lithium Division will focus on the Discovery, Acquisition, Exploration and Development of Lithium Projects in Canada. In the United States, the Company will use its wholly owned U.S.A subsidiary, to Acquire and Develop Projects in Active Mining Camps in Nevada, Arizona and California.
Management believes that these New Age Metals, Lithium, PGMs and Rare Earths, have robust macro trends with Surging Demands and Limited Supply. Going forward, this New Division will Explore for the minerals needed to fuel the demand for Energy Storage and other core 21st Century Technologies.
The Company has a growing portfolio of Lithium Projects. The Clayton Valley Forks Li Project in Nevada is a recent Lithium Brine Project Acquired by the Company (PFN News Releases April 25th, 2016, May 11th, 2016 and June 16th, 2016). The Company also has Hard Rock Lithium projects in Canada (PFN News Releases April 21st, 2016, May 24th, 2016), July 5th, 2016 and July 21st, 2016) located in the Winnipeg River Pegmatite Field of SE Manitoba.
Lithium and Platinum Group Metal Prices have Improved Dramatically in recent months. Lithium Supplies remain in deficit, relative to their demand. Both Metals Groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGMs, demand is increasing for Autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. Regarding Lithium, there is an ever-increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
An aggressive 2016/17 Acquisition and Exploration Program is underway with the objective to have several projects at the drill ready stage, by early 2017.
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PFN’s 5 New Lithium Projects in Manitoba, Surrounding Tanco Mine
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Figure 1: Company claim blocks in the Clayton Valley area of Nevada
(Figure 1 is a Company-made composite and not intended for redistribution. The Company accepts no responsibility for the accuracy of these claim blocks, other than the claim block associated with the Clayton Valley Forks Li Project)
Clayton Valley is located in Esmeralda County, Nevada, host to the Albemarle Corporation’s Silver Peak Lithium Mine and Brine processing operations. The mine has been in operation since 1967 and remains the only Brine based Lithium Producer in North America. The new project acquisition in Nevada provides the Company a project, in an area that is well known for its Lithium Carbonate production. Clayton Valley is a centralized location in Nevada, with highway access, power infrastructure, water and local labour.
The company’s new Lithium Brine Project will be approximately 3.5 hours away from Tesla’s Gigafactory, which has a planned annual Lithium-ion battery production capacity of 35 gigawatt-hours per year, by 2020. The CV West Li project is located approximately 3 hours north of the Faraday Electric Car Factory to be operated in Las Vegas, Nevada. Clayton Valley is one of the few locations globally known to contain commercial-grade Lithium-Enriched Brines.
QUALIFIED PERSON
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 Northwest Capital. 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”
Harry Barr
Chairman and CEO
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 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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