PACIFIC NORTH WEST CAPITAL CORP. FORMS NEW LITHIUM DIVISION - LITHIUM CANADA INC
posted on
Apr 16, 2016 12:33PM
River Valley PGM Project with 2.9Moz Palladium Equivalent (Measured & Indicated) Advancing to Pre-Feasibility Study
April 14, 2016 Vancouver, Canada – Pacific North West Capital Corp. (“PFN”, the “Company” and “Lithium Canada Inc.”) (TSX.V: PFN; Frankfurt: P7J.F; OTCQX: PAWEF announces that it has formed a wholly owned subsidiary called Lithium Canada Inc.
The directors and management of PFN have decided to add an additional mineral division to its project portfolio. A new Lithium and Rare Earth Division has been formed. The Company’s management believes that adding an additional “green metal” to its existing Platinum group metals (PGM’s) division is warranted. These new age metals, Lithium, PGM’s and Rare Earths, have robust macro trends with surging demands and limited supply. Going forward, this new division will explore for the minerals needed to fuel the demand for energy storage and other core 21st Century Technologies. This new direction will involve the acquisition of new projects and adding to our existing technical team.
Lithium and Platinum group metal prices have improved dramatically in recent months. Lithium supplies remain in deficit relative to their demand. Both metals groups are used for the expanding worldwide automobile industry (conventional and electric). In the case of PGM’s, demand is increasing for autocatalysts, a key component for reducing toxic emissions for automotive, gasoline and diesel engines. In regards to Lithium, there is an ever increasing demand for batteries in cellphones, laptops, electric cars, solar storage, wireless charging and renewable energy products.
Lithium Canada Inc. will focus on the acquisition, exploration and development of Lithium Projects in Canada. In the United States the company will use its wholly owned U.S.A subsidiary to acquire and develop projects in active mining camps in Nevada, Arizona and California.
About Pacific North West Capital Corp.
PFN is a junior company utilizing the Prospector Generator Model and is focused on acquisition, exploration and development of Lithium and Platinum group metal projects in Canada and U.S.A. Its flagship project is the River Valley PGM Project near Sudbury, Ontario (See PFN’s press release dated April 6th, 2016 and www.pfncapital.com). River Valley is a primary PGM deposit, like the Lac des Iles and Stillwater Mine deposits of Canada and USA, respectively. This means that the majority of potential payable metal from a possible mining operation at River Valley would be palladium plus platinum rather than nickel plus copper. Primary PGM deposits are rare outside of South Africa and Russia. River Valley is the largest undeveloped primary PGM deposit in Canada. Sudbury is one of the top five nickel-copper-PGM sulphide mining and processing centres globally. Part of our 2016 plan is to partner with a Major mining company, mine finance company or a Private Equity firm to help PFN further develop the River Valley project.