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Pacific Empire Minerals Corp
Symbol PEMC
Shares Issued 139,798,195
Close 2024-06-12 C$ 0.045
Market Cap C$ 6,290,919
Recent Sedar Documents

Pacific Empire talks Trident, Pinnacle survey results

2024-06-13 12:31 ET - News Release

Mr. Brad Peters reports

RESISTIVITY SIGNATURE FROM PACIFIC EMPIRE'S MOBILE MT SURVEY AT TRIDENT ANALOGOUS TO MT. MILLIGAN

Pacific Empire Minerals Corp., a British Columbia copper-gold explorer, has provided additional information following its recently completed airborne mobile magnetotelluric (MT) geophysical survey, completed over the Trident and Pinnacle properties.

Highlights:

  • New major copper-gold porphyry drill target identified from recent airborne geophysical MT survey flown;
  • Target to be tested in September, 2024, drill program with aim of making a major copper-gold porphyry discovery akin to Centerra's Mt. Milligan mine;
  • Not only does this resistivity anomaly come to surface, it also extends to depth and extends up to 1.5 kilometres in width, making this an exceptional copper-gold porphyry drill target;
  • This target has characteristics similar to Centerra Gold's producing Mount Milligan copper-gold mine which has 2024 production guidance of 180,000 to 200,000 ounces gold and 55 million to 65 million pounds Cu (this deposit is a major copper/gold producer);
  • The Mount Milligan high-resistivity anomaly identified the major copper-gold porphyry deposit (proven and probable reserves 961 Mlb at 0.17 per cent Cu plus 2.8 Moz at 0.35 gram per tonne Au) -- Pacific's Trident project shares the same resistivity-high anomaly;
  • Pacific's Trident project is known to produce significantly higher copper grades up to 0.84 per cent Cu in drill core, significantly higher than Mount Milligan's copper reserves of 0.17 per cent, which would make Trident a very attractive project for any major copper producer

Copper-gold mineralization encountered at Trident to date is primarily associated with potassic alteration and coincides with a widespread zone of elevated resistivity. Similarly, located at the primary target zone on Trident, this same level of elevated resistivity continues to depth.

Pacific Empire's president and chief executive officer, Brad Peters: "The presence of copper-gold mineralization in areas of elevated resistivity corresponds nicely with what we would expect from the widespread potassic alteration observed in this area. Most significantly, the elevated resistivity signature extends to depth, a feature signature observed at Mt. Milligan making this all the more compelling target."

About Trident

The Trident property is an early 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 to conduct 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 induced polarization and magnetic surveys, geological mapping, soil sampling, and diamond drilling. This work ultimately 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, Pacific optioned the property and in 2014, in turn, it optioned the property to Oz Minerals which completed during that same year an IP survey and completed a two-drill-hole diamond drill program at Trident.

In 2022, Pacific Empire acquired a 100-per-cent interest in the property in exchange for granting the vendors a 2-per-cent net smelter return royalty (NSR). One-half (1 per cent) of the 2-per-cent NSR which 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 toward 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 made 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 hosting 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.

"Between our 100-per-cent-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 outcrops at Trident, placer gold discovered in the nearby Klawli river gravels as well gold has been 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 Mr. Peters, president, CEO and director of Pacific Empire.

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 significant development and is anticipated to contribute to cost-effective drill support and provides additional bedrock exposure.

"Over the past two 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 resulting in significantly improved access to the property," commented Mr. Peters, president, CEO and director of Pacific Empire.

Qualified person

Kristian Whitehead, PGeo, 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.

Pacific Empire is a copper exploration company based in Vancouver, B.C., and trades on the TSX Venture Exchange under the symbol PEMC. The company has a district-scale land position in north-central British Columbia totalling 22,541 hectares.

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