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Attention Business Editors
Pacific North West Capital Corp. Announces High Grade Gold of 51.66 g/t (1.50 ounces/ton) Intersected in Phase II at Destiny Gold Project,
Québec
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- 51.66 g/t over 0.5m intersected within 12.25 m wide zone averaging
2.83 g/t gold
- 12.84 g/t over 0.65 m intersected within 2.9 m wide zone averaging
3.35 g/t gold in a foot-wall zone
- Gold system open to below 500 m vertical depths
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TSX: PFN OTCBB: PAWEF FSE: P7J
VANCOUVER, March 8 /CNW/ - Pacific North West Capital Corp. ("PFN" or the
"Company") (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J) and Alto Ventures Ltd.
(ATV: TSX-V) are pleased to provide results for the first two holes of the
Phase II program at the DAC Deposit on the Destiny Gold Project in Québec. The
first two holes intersected multiple gold zones including high grades of 51.66
g/t and 12.69 g/t both over 0.5 m widths in DES10-135. The high grades are
contained within a zone of strong shearing, alteration and quartz veining that
averages 2.83 g/t gold across 12.25 m. Several other gold anomalous zones were
intersected in this hole including a foot-wall zone near the bottom of the
hole that averages 3.35 g/t gold over 2.9 m and contains a high grade vein
assaying 12.84 g/t gold over 0.65 m (see table below). The Phase II drilling
has now been completed. Core logging and sampling of the last three holes is
in progress and results will be released as they become available. A Phase III
program is slated for later this year after the results from Phase 2 are
received and incorporated into the DAC deposit data base.
DES10-135 intersected gold mineralization at depths exceeding 500 m and
the mineralization remains open below that. Very fine grained free gold was
observed at several intervals within this hole, including in the high-grade
sections mentioned above. The multiple zones of shearing, alteration, quartz
veining and mineralization are as extensive in this hole as in the previous
holes that tested the upper parts of the DAC deposit (see Alto and PFN news
releases dated February 18 2010). The high grades and multiple gold zones
confirm the robust nature of the gold system and demonstrate the potential to
significantly expand the DAC deposit with additional drilling.
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Table of Significant Gold Assays Phase II Drilling Program
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Hole Number From (m) To (m) Width (m) Au (g/t)
*downhole
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DES09-134 124.8 135.3 10.5 0.41
256.9 266.7 9.8 0.53
includes 259.6 260.6 1.0 2.54
316.7 332.8 16.1 0.28
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DES09-135 355.75 368.0 12.25 2.85
includes 357.25 357.75 0.5 12.69
includes 365.5 366.0 0.5 51.66
374.85 377.0 2.15 1.55
includes 375.4 375.7 0.3 7.9
386.65 391.0 4.35 0.74
includes 389.15 390.15 1.0 2.34
431.4 441.8 10.4 0.46
446.5 470.35 23.85 0.36
486.55 496.9 10.35 0.35
527.1 530.0 2.9 3.35
includes 527.1 527.75 0.65 12.84
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* Based on core angles and previous drilling, true widths are estimated
at approximately 80 to 90% of the downhole lengths reported. Mineralized
zones generally start at 0.1 g/t gold and assay averages may include
minimal intervals of waste material. No top cuts of assays were used.
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Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the
Qualified Person who has reviewed and approved this news release.
Quality Assurance / Quality Control
Core processing included descriptive logging and selection of samples for
analyses. The NQ-size cores were sawed in half and one half was delivered to a
commercial laboratory. The samples were delivered to the Accurassay
preparation laboratory in Sudbury where they were crushed and a 500 gram pulp
was prepared. The pulp was then shipped to Accurassay Laboratories in Thunder
Bay for analyses. The gold assaying method uses a standard Fire Assay with AA
finish technique on a 30 gram aliquot taken from a 500 gram split from the
submitted sample. Commercially prepared standards and blanks were inserted by
Alto every 25 samples to ensure precision of the results. The laboratory
performs repeat check assays every 10 samples on pulps to ensure internal lab
quality control.
The laboratory was instructed to prepare and analyze a second 500 gram
split from the reject for those samples that indicated gold values of between
1 g/t and 5 g/t on the initial analysis. The gold assaying method on the
re-split uses a standard Fire Assay with Gravimetric finish technique on a 30
gram aliquot. Pulp metallic assays were performed on all samples the returned
greater than 5 g/t gold on the first assay. The results reported represent
mathematical averages of all analyses performed on each specific sample.
Robert J. Tremblay P. Geo (Québec) Consulting Geologist to Alto Ventures,
was responsible for supervision of the diamond drilling program.
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and development company with a
portfolio of highly prospective properties in the Canadian Shield. The Company
is currently active in Québec where it is focussed on the Destiny Gold project
in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan
gold districts.
For more details regarding the Company's projects, please visit our
website at: www.altoventures.com.
About Pacific North West Capital Corp:
Pacific North West Capital Corp. ("PFN") is a mineral exploration company
focused on Platinum Group Metals (PGM), precious and base metals. Management's
corporate philosophy is to be a Project Generator, Explorer and Project
Operator with the objective of option/joint venturing projects with major and
junior mining companies through to production. To that end, PFNs current
option/joint ventures agreements are with Anglo Platinum, First Nickel, Alto
Ventures and is a major shareholder of Fire River Gold Corp.
(www.firerivergold.com)
PFN is well funded with an experienced management team and the ability to
take advantage of the tremendous under funded opportunities that are available
in the mining sector today.
Management of PFN plans to use their technical, financing and deal making
abilities to acquire additional Platinum Group metals, base metals and
precious metals projects on an international scale. To that end, the company
is in the process of adding key technical and financial people to our
management and our advisory team. Pacific North West Capital Corp. is a member
of the International Metals Group (www.internationalmetalsgroup.com) of
Companies.
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On behalf of the Board of Directors
(signed)
Harry Barr
President and CEO
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Further Information: Tel: +1.604.685.1870 Fax: +1.604.685.8045
Email: info@pfncapital.com, or visit www.pfncapital.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
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The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
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Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time to time with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange Commission.
-30-
/For further information: please contact our Investor Relations
Department at Toll Free 1-800-667-1870/
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