Phase 8 Announcement$1.5 Million Phase 8 Budget Approved by Anglo Platinum to Advance River Valley Project
Monday June 6, 9:20 am ET
----------------------------------------------- Highlights of Phase 8 Budget: - Preliminary economic studies to commence - Processing of Bulk Sample by Anglo Platinum -----------------------------------------------
TSX: PFN OTCBB: PAWEF
VANCOUVER, June 6 /CNW/ - Pacific North West Capital Corp (TSX: PFN - News; OTCBB: PAWEF - News) and Anglo American Platinum Corporation Limited (Anglo Platinum) are pleased to announce the approval of a Phase 8 $1.5 million budget for the River Valley PGM Project located near Sudbury, Ontario.
This budget represents a new phase for the River Valley project. A portion of the newly approved budget will be allocated towards third party economic modeling to assist the Joint Venture in its allocation of exploration resources as the project moves forward.
The budget also makes allowance for the shipment of the 40-tonne bulk sample to Anglo Platinum's facilities in Johannesburg for metallurgical testing.
The Company expects to report assays/results for the remaining drill holes from the Phase VII program over the next 30 days. After evaluating all the results from Phase VII program, PFN's management will make the necessary recommendations for the next phase of exploration.