Pacific North West Capital (
TSX: V.PFN,
Forum) significantly added to its portfolio when the company announced today that it had acquired 100% interest in Eagle Pegmatite in southeast Manitoba, from Mustang Minerals.
According to the
news release, this pegmatite will be part of the new Lithium Two Project and held under the company’s 100%-owned subsidiary, Lithium Canada Development.
The Lithium Two Project is the company’s fifth, 100%-owned hard rock lithium project in southeast Manitoba. The Eagle Pegmatite has a non-43 101 compliant resource calculation of 544,460 tonnes of spodumene with an average content of 1.4% Li20.
There is a summer surface exploration program planned for 2016 with follow-up drilling in 2017.
The company is currently in talks with interested parties regarding option/JV arrangements on its five, 100%-owned lithium projects in Manitoba.
Pacific North West Capital was in the news recently when
the Vancouver-based company announced a little over a week ago that it had acquired a strategic and adjacent PGM project, adding four kilometres to core PGM project.
Currently there are 48.52m outstanding shares with a market cap of $2.18 million.
FULL DISCLOSURE: Pacific North West Capital is a Stockhouse Publishing client.