Study could lead to new spending on River Valley project
In a release, Pacific North West said it the study could lead to new spending on the River Valley platinum group metals project.
British Columbia-based Pacific North West said it has hired SFA Oxford Limited to provide an independent strategic assessment of its River Valley platinum group metal project, near Sudbury.
SFA Oxford is a group of independent consulting analysts in mining, metals and commodities, with specialization in platinum group metals, including palladium – the main metal at River Valley.
Pacific North West said in a release its decision to hire SFA Oxford at this time “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 (platinum group metal) 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 located within 100 kilometres of Sudbury and is readily accessible via paved and gravel roads with settlements, power and rail all nearby. The River Valley platinum group metal deposit is overlain by mining leases completely owned by Pacific North West. The company has been exploring the property for more than 10 years.
Pacific North West 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. (The company) 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 said its key asset is its 100 per cent owned River Valley platinum group metal project. River Valley is one of the largest undeveloped primary platinum group metal projects in Canada.