VANCOUVER, July 31, 2014 /CNW/ - Pacific North West Capital Corp. (TSX-V: PFN) today provides an update on its search for a strategic joint venture partner for its River Valley platinum group metal (PGM) project, near the city of Sudbury, Ontario (Canada).
PFN is pleased to announce that it has hired SFA (Oxford) Limited (Oxford, UK) to provide an independent strategic assessment of its 100% River Valley PGM Project, near the world-class nickel-copper-PGM mining and processing centre of Sudbury, Ontario (Figure 1). The assessment document will be a concise compilation report of a high-level case for investment in the River Valley PGM Project against other global projects and operations. The document will provide key support for PFN's search for a credible and well-funded strategic joint venture partner to share its vision and commitment to explore and develop the River Valley PGM Project.
SFA Oxford enjoys a global reputation as a group of independent consulting analysts in mining, metals and commodities, with specialization in PGM (including palladium – the main metal at River Valley). The timing of PFN's decision to hire SFA Oxford builds on the strong global fundamentals currently driving up the commodity price of palladium. Continuing production challenges in South Africa and rising tensions with Russia, the world's two largest PGM producers, combined with soaring demand from the global automotive industry for auto catalysts (of which palladium is a key component) have all renewed interest in PGM projects in safe, secure mining jurisdictions like Canada.
River Valley is one of the largest primary PGM Projects in Canada. NI43-101 compliant near-surface resources are: 26 Mt grading 1.5 g/t 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 inferred category (for the details see PFN's website at www.pfncapital.com). 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.
Figure 1- Location Map of River Valley PGM Project near Sudbury, Ontario (Canada).
The River Valley PGM deposit is overlain by mining leases owned 100% by PFN. Exploration upside is enormous, particularly at depth.
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. PFN also has PGM projects in Alaska. The Company continues to evaluate PGM and nickel‐copper properties and projects elsewhere in North America for potential acquisition opportunities.
Pacific North West Capital Corp. is an International Metals Group Company. (www.internationalmetalsgroup.com).
About SFA (Oxford) Limited
SFA (Oxford) is the world authority on the platinum-group metals market and other strategic commodities. The company is wholly independent. Its in-depth market research and integrity is underpinned by extensive consulting from mine to market to recycler, an unrivalled global industry network, and annual industry conferences.
With a team of nine dedicated PGM analysts, who have wide and varied industry expertise and knowledge, each one specialising in a core area of the value chain, as well as many internationally-based associates, SFA is able to provide their clients with answers to the most difficult questions affecting the future of the industry. They work with producers, refiners, recyclers, end-users, investors and governments, many of whom have remained loyal clients throughout more than a decade in the business.
On behalf of the Board of Directors
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.
SOURCE: Pacific North West Capital Corp.
For further information: Further Information: Tel: +1.604.685.1870, Fax: +1.604.685.8045, Email: [email protected], or visit www.pfncapital.com, Suite 650 - 555 West 12th Ave., Vancouver, B.C., Canada, V5Z 3X7