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Vancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Pacific Empire Minerals Corp. (TSXV: PEMC) ("Pacific Empire", "PEMC" or the "Company"), a British Columbia copper-gold explorer, announces that the company will be presenting at The Metals Investor Forum in Toronto on March 1st and 2nd.
Metals Investor Forum Toronto
The annual conference will take place in-person at the Delta Hotels Toronto Hotel March 1st to March 2nd. Brad Peters, President & CEO, will be presenting on March 2nd at 10:00 am Eastern Standard time. For more information and/or to register for the conference please visit: https://metalsinvestorforum.com/
Planned Airborne MobileMT™ Survey at Trident
PEMC intends to initiate the MobileMT survey as soon as possible following the Prospectors and Developers Association Conference ("PDAC") held in Toronto, Ontario from March 3-6, 2024.
"Attending the PDAC conference gives us an opportunity to visit with the team at Expert Geophysics and to discuss certain aspects of the survey," commented Pacific Empire's President and CEO, Brad Peters. "The ability to look for deep fluid conduits is attractive and may have implications in other areas of the property in addition to our adjacent Pinnacle property. If you are going to inject a volume of rock with hundreds of millions of dollars' worth of metal, you are going to need a serious plumbing system."
The Company also announces that pursuant to the Company's stock option plan, 5,000,000 incentive stock options exercisable at $0.05 per share for a period of three years have been granted to directors, officers, management company employees and consultants of the Company.
About Trident
The Trident property is an exploration stage property hosting an alkalic porphyry copper-gold-silver prospect with district-scale potential that is accessible by vehicle. The property is located approximately 50 km to the southeast of NorthWest Copper Corp.'s Kwanika Deposit and 50 km to the northwest of Centerra Gold's Mt. Milligan Mine. The property covers 6,618 hectares endowed with well-established logging roads providing important efficient access for exploration programs.
Copper mineralization on the property was first discovered in 1969, while exploration crews were following up on anomalous stream sediment samples. The following year, Falconbridge optioned the property and over the next two years completed IP and magnetic surveys, geological mapping, soil sampling and diamond drilling. This work led to the discovery of the A Zone.
Additional exploration programs were completed by Kookaburra Gold Corp. from 1988 through 1991, Solomon Resources Ltd., from 2006 through 2008. In 2013, PEMC optioned the property and in 2014, in turn, PEMC optioned the property to Oz Minerals which completed that same year an IP survey and completed a two drillhole, diamond drill program at Trident.
In 2022, Pacific Empire acquired a 100% interest in the property in exchange for granting the vendors a 2% net smelter return royalty ("NSR"). One-half (1%) of the 2% NSR may be purchased for $500,000 by Pacific Empire.
Prior to 2014, known mineralization on the property was believed to be associated with fracture and/or shear zones structures striking 120 degrees and dipping 75 degrees towards the northeast. A review of historical drill core by the Pacific Empire exploration team has led to a much different interpretation with respect to the nature of known mineralization on the property. The most important observation was the determination of the presence of hornblende-feldspar monzonite porphyry intrusions detected within drill core obtained from the A Zone. These types of porphyry intrusions are typically characterized by sheeted quartz sulphide veins and disseminated chalcopyrite and bornite residing immediately adjacent to and within the porphyry dikes. Other observations include; The highest grades noted in historical drilling can be seen to be directly associated with intervals where such porphyry intrusions occur.
Figure 1 - Regional Land Position and Significant Companies
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Figure 2 - Location of planned MagnetoTelluric Survey
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Figure 3 - South Hogem Copper-Gold Belt
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"Between our 100% owned Trident and Pinnacle projects runs the Klawli river. The gold flakes and nuggets in the vial displayed on the map were collected from that location on the Klawli river. It is this and other geochemical evidence gathered by the PEMC exploration team which leads us to postulate the potential for a gold-enriched copper system nearby on either Trident, Pinnacle, or possibly both projects. To date, visible gold has been observed in outcrop at Trident, placer gold discovered in the nearby Klawli river gravels, and as well gold detected in drill core from Pinnacle. All three of these known occurrences of gold and their respective locations suggests there may be a shallow buried, large scale, gold-enriched, copper porphyry deposit within our district scale land package," commented Brad Peters, President, CEO and Director of Pacific Empire.
Table 1 - Highlights from Historical Drilling at Trident
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About Pinnacle
The Pinnacle project is located 60 km to the west of Centerra Gold's Mt. Milligan Copper-Gold Mine and 30 km to the southeast of NorthWest Copper's Kwanika Copper-Gold Deposit in a proven copper-gold porphyry district. Access to the Pinnacle is by road including a new and expanding network of logging roads and trails throughout the main target areas. This improved access is a major development and is anticipated to contribute to cost effective drill support and bedrock exposure.
"We are truly excited to have had the Pinnacle property returned to PEMC. The Teako exploration team meaningfully advanced the property including fully permitting for IP geophysics and diamond drilling. Additionally, work by Teako advanced our understanding of the Aplite Ridge target area. Over the past 2 years significant logging operations have developed an extensive road network that now covers the entirety of the southern half of the property providing new outcrop exposure and efficient access. The 2023 forest fires dramatically affected the property leading to even further future opportunities.
Qualified Person
Kristian Whitehead, P.Geo., serves as a qualified person as defined by NI 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
About Pacific Empire
Pacific Empire is a copper exploration company based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the symbol PEMC. The Company has a district scale land position in north-central British Columbia totaling 22,541 hectares.
British Columbia is a "Green" copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.
ON BEHALF OF THE BOARD,
"Brad Peters"President, Chief Executive Officer and Director
Pacific Empire Minerals Corp.Tel: +1-604-356-6246[email protected]
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: closing of the Offering is expected to occur on or around December 31, 2023, the funds will be used for exploration on its flagship Trident copper-gold-silver project and for general working purposes, 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.
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