Yahoo Finance Pacific Empire Minerals Provides Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - September 18, 2018) - Pacific Empire Minerals Corp. (TSXV: PEMC) ("Pacific Empire", "PEMC" or the "Company"), a hybrid prospect generator focused in British Columbia, is pleased to provide an update on its 2018 exploration activities.
Recent highlights are as follows:
Reverse circulation drilling ("RC drilling") at 100% owned Copper King Property was recently completed. Visual copper mineralization encountered, laboratory assays are pending.
Partner-funded diamond drilling at Stars Project ongoing, recent drill results included 405.38 m grading 0.26% Copper equivalent.
Reverse circulation drilling at 100% owned Kitimat Property completed, assays received.
Copper King Property
An RC drilling program was recently completed by PEMC at the Copper King Property, located approximately 35 km southeast of Centerra Gold's Kemess Underground and Kemess East Projects. Drilling was focused on the "North Valley Target Area" at the northern portion of the property where anomalous IP chargeability is coincident with rock, soil, talus and sediment samples that are anomalous in copper ± gold ± silver. Four RC holes totaling 459 metres were drilled with PEMC's in-house track-mounted RC drill, depths of the holes ranged from 82.3 to 147.8 metres.
Two of the four holes drilled encountered visible chalcocite mineralization associated with strong epidote-clay alteration over variable widths and laboratory results are pending from these two holes. Given the geological context and the widespread nature of copper mineralization at surface, that closely resembles that encountered in drilling, the Company believes there is significant potential for a buried porphyry system on the Copper King Property.
Rory Ritchie, Vice-President of Exploration comments, "Copper mineralization encountered to date on the Copper King Property is predominantly hosted within a bladed feldspar porphyry unit of the Takla Group volcanics, similar to the geological unit that hosts the majority of copper mineralization at the Kemess East deposit. The presence of scattered porphyry intrusions, a regional scale unconformity or paraconformity and widespread, relatively low temperature copper mineralization at surface lends credence to an exploration strategy analogous to that employed at the Kemess Underground and Kemess East Projects. As such, the Company will be pursuing a like-minded partner to advance the Copper King beyond that which RC drilling has done thus far."
Figure 1. 2017 airborne magnetics showing 2018 RC drill hole locations — North Valley Target Area.
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/5412/38717_a1537225303998_26.jpg
Stars Property (Partner-Funded) Diamond Drilling
Ongoing partner-funded drilling at the Stars Project in west-central British Columbia continues to build upon previous exploration successes, with recent drill results including an intercept of 405.38 metres of 0.26% copper equivalent in diamond drill hole DD18SS010 (see ML Gold Corp. News Release dated August 28, 2018). Of notable significance, with regard to drill hole DD18SS010, is the fact that copper mineralization is hosted in a previously undiscovered feldspar porphyry intrusion, which will now serve as a useful guide towards further and potentially higher-grade copper mineralization. The partner recently announced that they have continued the drilling campaign targeting the newly identified porphyry and the related fluid conduit responsible for copper mineralization on the Stars project.
Previous drilling at the Stars project by PEMC's partner ML Gold Corp. ("ML Gold") focused on two areas, the Central Zone and Zone 4. Hole 10, which was drilled to the south and perpendicular to Zone 4 was successful in intersecting a feldspar porphyry intrusion with consistent, disseminated copper and molybdenum mineralization.
Hole ID | From (m) | To (m) | Interval (m)1 | Cu% | Mo% | Ag (g/t) | Au (ppb) | CuEq %2 |
DD18-SS010 | 29.57 | 434.95 | 405.38 | 0.20 | 0.0082 | 0.754 | 24 | 0.26 |
incl. | 178.92 | 367.89 | 188.97 | 0.25 | 0.0119 | 0.824 | 35 | 0.33 |
incl. | 392.28 | 416.66 | 24.38 | 0.25 | 0.0092 | 1.224 | 24 | 0.32 |
incl. | 203.30 | 282.55 | 79.25 | 0.30 | 0.0144 | 0.945 | 43 | 0.40 |
incl. | 337.41 | 367.89 | 30.48 | 0.40 | 0.0126 | 1.343 | 46 | 0.50 |
Table 1. Assay results from DD18SS010 (refer to ML Gold Corp. News Release dated August 28, 2018).
(1) The intervals reported in these tables represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized zone.
(2) CuEq (Copper Equivalent) values were calculated using metal spot prices at market close on August 20th, 2018 of: USD $2.70 / lb Cu, $11,80 / lb Mo, $14.75 / oz Ag, $1,195 / oz Au.
"The identification of a mineralized porphyritic intrusion for the first time represents an important step when exploring for porphyry style deposits" commented Brad Peters, Pacific Empire's President and CEO, "We are very encouraged by these results and look forward to additional results as they become available."
Kitimat Property
Analytical results from the July 2018 Kitimat Property RC drilling program have been received by the Company. The program consisted of 5 holes totaling 326.1 metres, with holes ranging from 27.4 to 120.4 metres in depth. The purpose of the program was to confirm and potentially build upon historical drill results from the Jeannette Zone, as well as to test additional exploration targets away from the Jeannette Zone. 2018 RC drilling results did not replicate historical drill results in the Jeannette Zone.
Hole ID | Easting | Northing | Azimuth | Dip | Depth | Remarks |
(UTM NAD 83 zone 9) | (degrees) | (m) | ||||
RC18KIT001 | 517661 | 6001831 | 10 | -60 | 71.6 | Test historical Jeannette Cu-Au zone |
RC18KIT002 | 517658 | 6001862 | 70 | -50 | 120.4 | Test historical Jeannette Cu-Au zone |
RC18KIT003 | 517479 | 6001755 | 0 | -80 | 56.4 | Test Cu soil anomaly west of Jeannette zone |
RC18KIT004 | 518108 | 6001653 | 0 | -90 | 50.3 | Failed to reach bedrock |
RC18KIT005 | 518779 | 6000787 | 0 | -90 | 27.4 | Test "southwest" magnetic anomaly |
Table 2. Drill hole information from 2018 Kitimat RC drilling.
Hole ID | From (m) | To (m) | Interval (m) | Copper (%) | Gold (g/t) |
RC18KIT001 | 15.2 | 18.3 | 3.1 | 0.53 | 0.19 |
RC18KIT002 | 56.4 | 62.5 | 6.1 | 0.19 | 0.27 |
and | 105.2 | 120.4 | 15.2 | 0.1 | 0.03 |
RC18KIT003 | No significant values | ||||
RC18KIT004 | No significant values | ||||
RC18KIT005 | No significant values | ||||
Table 3. Significant intercepts from 2018 Kitimat RC drilling.
Plateau Property
PEMC acquired the Plateau Property by staking 1,980 hectares located approximately 20 km to the east of Highway 97 at 70 Mile House. The property covers an area with widespread chalcopyrite-bornite mineralization that is associated with an early syenite phase of the Thuya batholith.
The property has seen numerous exploration programs over the last 40 years with approximately $2 million in total work expenditures to date. During this time a total of 29 core holes have been drilled totaling 6,062.2 metres in addition to 31 percussion holes totaling 1,748 metres. The Company is currently compiling exploration and drill data to determine the best way to cost-effectively add value and advance the Plateau Property.
Nub East Property
The planned 2018 RC drilling program on PEMC's Nub East Property was not completed due to the proximity of the Gower Lake Wildfire to the proposed area of exploration on the Property. The Chief Gold Commissioner of British Columbia recognized the proximity of the wildfire threat and has granted the Company a one-year extension of time to complete exploration and development activities on the Property.
PEMC looks forward to continuing with further exploration on the property during the 2019 exploration season.
Remaining 2018 Exploration Objectives
Field crews are currently conducting reconnaissance exploration of the Company's Bulkley Initiative properties consisting of the Bull's Eye, Bulkley and Wasp properties in preparation for the 2019 exploration season. Following this, crews will mobilize with the RC drill to test remaining priority targets at the Wildcat and Red properties to test remaining targets.
PEMC has now received its exploration permit for a fall RC drilling program on its recently acquired Moffat Property, situated approximately 20 km southeast of the Woodjam Cu-Au-Mo developed prospect in south-central British Columbia. The program will be expanding upon historical drilling results while testing targets outlined from an airborne magnetic survey flown over the Property by PEMC in May of 2018.
Brad Peters, Pacific Empire's President and CEO, states, "During the 2018 exploration season PEMC has now completed reverse circulation drilling programs on four of its properties and continues to have ongoing partner-funded diamond drilling at the Stars Project. We are pleased that positive results have been achieved on the Stars Project and now the Copper King Property. We emphasize that we will remain active with continued drilling programs and progressing our portfolio of projects throughout 2018."
Qualified Person
Rory Ritchie, P.Geo., Vice President of Exploration for the Company, serves as a qualified person as defined by National Instrument 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
About Pacific Empire Minerals Corp.
PEMC is an exploration company based in Vancouver, British Columbia, that employs a "hybrid prospect generator" business model and trades on the TSX Venture Exchange under the symbol PEMC. The Company's strong portfolio of projects is a result of continuous generative work conducted since the Company's inception in 2012.
By integrating the project generator business model with low-cost RC drilling, the company intends to leverage its portfolio by identifying, and focusing on, the highest quality projects for partnerships and advancement.
ON BEHALF OF THE BOARD,
"Brad Peters"
President and Chief Executive Officer
Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
brad@pemcorp.ca
www.pemcorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
