Pacific North West Capital Corp. issued an operational update of the company’s proposed exploration activities at its prospective gold properties in Canada.
Pacific North West Capital Corp has interests in the Destiny Gold Project, located near Val-d’Or, Québec. The company is planning to conduct magnetic surveys of the property from the air, along with electromagnetic surveying and drilling to determine the mineral potential.
Pacific North West Capital Corp. said that the targets of the survey would be determined by the results of geological surveys conducted. The company said that the Destiny Gold Project contains a geological feature known as the Despinassy shear zone and that gold mineralization has been identified in quartz and alteration zones at the site.
Pacific North West Capital Corp. has an option granted by Alto Ventures Ltd. to earn a 60% ownership share of the Destiny Gold Project. The company is required to spend $3.5 million on exploration activities at the project over the next four years to earn this interest. Pacific North West Capital Corp must also pay $200,000 cash and issue 250,000 shares of its common stock to Alto Ventures Ltd. as part of the deal.
For more information on the company, go to www.pfncapital.com
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