Pacific Empire Outlines Drill Program at Pinnacle Porphyry Project
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2019) - Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) ("Pacific Empire", "PEMC" or the "Company"), a hybrid prospect generator focused on gold-rich copper projects in British Columbia, announces plans for 2019 reverse circulation ("RC") drilling at the Company's 100% owned, 14,040 hectare Pinnacle Porphyry Project (the "Property") located in Central British Columbia, 50 km to the west of Centerra Gold's Mt. Milligan Mine and 20 km to the southeast of Kwanika Copper Corp.'s Kwanika Deposit.
The Company has planned a 20-hole RC drill program focused on its highest priority targets at the Elbow and Sooner zones. Portions of these two target areas saw partner-funded diamond drilling in 2015 and 2016, with the majority of exploration funded by OZ Minerals Exploration Pty ("OZE") in 2015. Broad scale alteration and anomalous gold ± copper intersected at both target areas is within a much larger area of highly anomalous chargeability and is indicative of a robust gold-copper hydrothermal system in the vicinity. The Company will leverage the exploration data obtained from OZE's work in 2015 with recent access and infrastructure improvements to efficiently and cost-effectively drill these two target areas. Drilling is expected to commence in November of 2019.
Elbow Zone at Pinnacle
The first exploration program ever conducted at the Elbow Zone was initiated in 2014, targeting favourable magnetic signatures in an area covered by 5 - 20 metres of glacial gravel deposits with no outcropping rock exposure. At this time, OZE conducted an extensive Induced Polarization ("IP") survey which outlined a 2.5 km x 1.5 km IP chargeability high anomaly that is now part of a much larger area of anomalous chargeability. The first diamond drill hole of the 2015 program tested the southern margin of the IP chargeability anomaly and intersected 94 metres grading 0.34 g/t gold (DD15ELB001) with anomalous copper mineralization up to 0.23% copper over 2 metres in a continuous zone of quartz stockwork veining and quartz-sericite-pyrite alteration overprinting pervasive biotite alteration. The alteration assemblages encountered indicate increasingly higher temperature conditions as the shallowly dipping hole progressed to the north (refer to Figure 1). The Company will focus drilling north of the 2015/2016 drilling to vector towards the center of a potential copper-gold porphyry deposit.
Figure 1. Drill core from 2015 drilling at Elbow Zone.
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Sooner Zone at Pinnacle
Exploration at the Sooner Zone in 2014, targeted favourable magnetic signatures in an area covered by 5 - 20 metres of glacial gravel deposits with no outcropping rock exposure. At this time, OZE conducted a limited IP survey which outlined a 1600 x 800 metre IP chargeability high anomaly that, similar to the signature at the Elbow Zone, is part of a much larger area of anomalous chargeability. The first diamond drill hole at this target area, drilled in 2015, tested a strong magnetic high coincident with the southern margin of the IP chargeability anomaly identified in 2014 by OZE. DD15SON001 intersected 220 metres grading 300 ppm copper from surface, with anomalous yet erratic gold mineralization up to 0.5 g/t over 2 metres, in a zone of propylitic alteration and intermittent low-grade magnetite skarn. The anomalous mineralization and alteration assemblages encountered, along with geophysical and oriented core measurements, indicate increasing temperature conditions vectoring to the northwest. The Company will be focusing RC drilling immediately to the northwest of the 2015 drilling, where a favourable magnetic signature is coincident with anomalous IP chargeability and an NNE trending conductive corridor.
Figure 2. Untested target at Sooner Zone.
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Pacific Empire's President, Brad Peters, added, "Partner-funded exploration at Pinnacle has provided us with extremely valuable data that has been carefully analyzed. In addition to the data from diamond drilling, the IP surveys clearly show that what were previously believed to be widely spaced, discrete chargeability anomalies are in fact components of a much larger system. It is the size of this anomalous area of chargeability combined with the knowledge that it represents sulphide mineralization (pyrite+-gold) in bedrock that excites us the most. Management has identified clear vectors that demand follow-up drill testing. Given the topography and recent logging, our custom-built RC drill rig is the perfect exploration tool for this job."
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 and on the OTCQB Markets under the symbol PEMSF.
By integrating the project generator business model with low-cost reverse circulation 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,
President and Chief Executive Officer
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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.
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