Company Highlights
- Pacific Empire Minerals is an exploration and development mining company with a hybrid generator model that allows the company to pursue its own drilling programs while also enabling partner-funded drilling.
- Flagship Jean Marie project has recently shown potential as a sizable copper project after first being identified as a copper-molybdenum project. The newly identified Leap Target Area at Jean Marie has returned 8.79 g/t gold, 86.6 g/t silver and 1.75 percent copper.
- A diamond drilling program at the Jean Marie project recently expanded the known copper mineralization, with both holes intercepting copper.
- Pinnacle porphyry is being explored through partner-funded drilling, including approximately $5.7 million in exploration expenses. Early assays from its exploration campaign indicate the presence of high-grade gold.
- An experienced management team leads Pacific Empire with the right expertise to reach its goals. Copper porphyry expert Dr. Paul Johnston brings significant copper-gold experience to the team and is expected to advise on future exploration projects.
Overview
The electrification transition is well underway and gaining momentum, with 64 countries pledging or legislating to achieve net-zero emissions in the coming decades. But, while encouraging, there are significant roadblocks beyond legislation standing between the present and future goals: minerals. Every current and emerging clean energy technology requires critical minerals such as copper, lithium, nickel and cobalt.
Despite global ambitions to pivot away from fossil fuels, there hasn’t been enough new production of the minerals we need to do so. S&P Global’s “Future of Copper” report, published in July 2022, found global copper demand will roughly double by 2035, rising from 25 million metric tonnes (MMt) to approximately 50 MMt. Where will the copper we need for the electrification transition come from?
Pacific Empire Minerals Corp. (TSXV:PEMC) is a resource development company focused on the exploration and development of gold-enriched copper resources in British Columbia. Pacific Empire owns a portfolio of assets in this Canadian province, including additional royalty-generation and pipeline projects.
The company is currently focused on its copper assets, particularly the Jean Marie property, and its recently acquired Col property, all located in British Columbia. Pacific Empire benefits from the province’s straightforward permitting policy and friendly tax incentives that allow the company to drastically reduce its exploration and development costs for projects located in British Columbia.
Partner-funded exploration continues on its Pinnacle property located immediately to the west of the Col property and to the north of Jean Marie.
“We always believed there was potential for significant copper mineralization at Jean Marie, and results to date clearly support this,” Pacific Empire president and CEO Brad Peters said. “With a project of this scale, these results are a significant revelation for us, and we will work to expand further and develop the potential for a significant copper deposit on this project.”
A diamond drilling program at the Jean Marie project recently extended the area of known copper mineralization, with both holes intercepting mineralized breccias and copper mineralization. The targets were identified by thoroughly analyzing exploration data, and the drilling program’s success speaks to the company’s accurate exploration data and analysis. In the same announcement, Pacific Empire revealed high gold assays of 1,460 parts per billion and 8,010 ppm from partner-funded soil geochemistry at its Pinnacle Property.
In addition to its own drilling work, Pacific Empire has partner-funded exploration at its Pinnacle project, where 1111 Acquisition Corp. is expected to continue with exploration in 2023. Under the terms of the agreement, 1111 Acquisition has the option to earn 70 percent interest in the property by completing $5.7 million in exploration expenditures and making C$375,000 in cash payments to Pacific Empire.
“Our hybrid business model allows shareholders to have partner-funded drilling in addition to PEMC-funded drilling, resulting in multiple ongoing drill programs and opportunities for discovery,” Peters said.
The company continues to pursue its own exploration activities, informed by advisor Dr. Paul Johnston, who brings considerable experience and knowledge of copper porphyry systems to the team. Johnston previously worked with Teck Resources Limited (TSX:TECK.A,TECK.B,NYSE:TECK) and is expected to be instrumental in future exploration work and acquisition analysis.
Company Highlights
- Pacific Empire Minerals is an exploration and development mining company with a hybrid generator model that allows the company to pursue its own drilling programs while also enabling partner-funded drilling.
- Flagship Jean Marie project has recently shown potential as a sizable copper project after first being identified as a copper-molybdenum project. The newly identified Leap Target Area at Jean Marie has returned 8.79 g/t gold, 86.6 g/t silver and 1.75 percent copper.
- A diamond drilling program at the Jean Marie project recently expanded the known copper mineralization, with both holes intercepting copper.
- Pinnacle porphyry is being explored through partner-funded drilling, including approximately $5.7 million in exploration expenses. Early assays from its exploration campaign indicate the presence of high-grade gold.
- An experienced management team leads Pacific Empire with the right expertise to reach its goals. Copper porphyry expert Dr. Paul Johnston brings significant copper-gold experience to the team and is expected to advise on future exploration projects.
Get access to more exclusive Gold Investing Stock profiles here