Pacific North West Capital and First Nickel Initiate Surface Mapping and Sampling Program on the Raglan Hills Nickel Projectadmin
Tuesday, August 26th 2008
Pacific North West Capital Corp. and First Nickel Inc. report the commencement of surface mapping and sampling programs, designed to verify the several geophysical electromagnetic anomalies identified by an earlier Aeroquest AEM survey. All work is being undertaken on mining claims currently held by either First Nickel or PFN that constitute the Raglan Hills Joint Venture Project. The Raglan Hills Project consists of 21 claim blocks totalling 2,752 hectares situated northeast of Bancroft, Ontario.
The Raglan Hill Project is located over the northeastern portion of the Raglan Hills Intrusive Complex. The Complex is a differentiated mafic intrusion composed primarily of meta-gabbro with lesser proportions of meta-pyroxenite. Several nickel and copper sulphide occurrences and one nickel and copper prospect are identified in Ontario’s Mineral Deposit Inventory (see Figure 1) and may represent the feeder system to the Raglan Hills Intrusive Complex. Minimal exploration has occurred since the late 1980′s and the property has potential to host economic nickel-copper sulphide mineralization within these possible feeder systems to the large mafic intrusive complex.
Pacific North West Capital and First Nickel are participating in a 50% – 50% Joint Venture whereby both Companies agree to bear all expenditures and participate in a single purpose unincorporated Joint Venture for the purpose of carrying out mineral exploration. First Nickel will act as Operator for the project and will be responsible for carrying out all exploration activities
The surface mapping and prospecting program is being carried out under the supervision of First Nickel’s Senior Geologist, Scott Halladay, P.Geo., a “qualified person” as defined by National Instrument 43-101. First Nickel Inc. follows a rigorous QA/QC protocol on all of its exploration projects. Analytical samples are sent to a commercial laboratory, Accurassay Laboratories in Lively for initial sample preparation. Final sample preparation (pulverization), assay analyses and specific gravity measurements are performed in the Accurassay Thunder Bay laboratory. Samples for sulphur analyses are shipped to International Plasma Laboratories Limited by Accurassay. A rigorous quality assurance/quality control program is employed that includes the insertion of certified standards and blanks for each batch of samples.
Pacific North West Capital Corp. is a mineral exploration company focused on Platinum Group Metals (PGMs) 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 mining companies through to production. To that end, Pacific North West Capital’s current option/joint ventures agreements are with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, Benton Resources, First Nickel and SOQUEM.
Pacific North West Capital Corp. has approximately $9 million in working capital and securities.