Vancouver, British Columbia--(Newsfile Corp. - June 13, 2024) - Pacific Empire Minerals Corp. (TSXV: PEMC) ("Pacific Empire", "PEMC" or the "Company"), a British Columbia copper-gold explorer, is pleased to provide 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 1.5km 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 180-200koz Gold and 55-65M Lbs 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 961Mlbs @ 0.17% Cu + 2.8Moz @ 0.35 g/t Au) - PEMCs Trident project shares the same Resistivity High Anomaly
PEMCs Trident project is known to produce significantly higher copper grades up to 0.84% Cu in drill core, significantly higher than Mount Milligan's Copper Reserves of 0.17%, 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.
Figure 1 - Resistivity Voxel Model in 3D at Trident
Pacific Empire's President and CEO, 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."
Figure 3 - Area of Elevated Resistivity at Trident with Historical Diamond Drilling
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 IP 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, PEMC optioned the property and in 2014, in turn, PEMC optioned the property to Oz Minerals which completed during 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 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 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 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.
Figure 4 - Regional Land Position and Significant Companies
"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 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 Brad Peters, President, CEO and Director of Pacific Empire.
Table 1 - Highlights from Historical Drilling at Trident
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 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 resulting in significantly improved access to the property," commented Brad Peters, President, CEO and Director of Pacific Empire.
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.
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, 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.
