Pacific Empire Minerals Corp. is pleased to provide an update on its 2020 exploration activities. During 2020, a total of 27 reverse circulation drill holes were completed at the Company’s Jean Marie, Worldstock and Weedon properties in British Columbia. In addition, an airborne magnetic survey and rock sampling programs were completed at Jean Marie, where PEMC was successful in confirming the potential for …
Pacific Empire Minerals Corp. (TSXV: PEMC) (“Pacific Empire”, “PEMC” or the “Company”) is pleased to provide an update on its 2020 exploration activities. During 2020, a total of 27 reverse circulation (“RC”) drill holes were completed at the Company’s Jean Marie, Worldstock and Weedon properties in British Columbia. In addition, an airborne magnetic survey and rock sampling programs were completed at Jean Marie, where PEMC was successful in confirming the potential for gold-enriched copper mineralization. Highlights of the rock sample assays included 8.79 gt gold, 86.6 gt silver and 1.74% copper at the newly identified Leap Target Area. Assay results from RC drilling at the Company’s flagship Jean Marie property are anticipated prior to the end of 2020.
Jean Marie Property
Prior to the commencement of the 2020 RC drill program, prospecting, review of historical drill core and rock sampling were conducted across the property. A total of 38 rock samples were collected, with a focus on expanding the footprint of known mineralization and demonstrating the potential for gold-enriched copper mineralization across the property. A summary of all rock samples collected at Jean Maire during the 2020 exploration season is presented in Table 1 below.
During 2020, a total of 15 RC drill holes totaling 1,692 metres were completed at the A Zone. This drilling tested various magnetic signatures along a corridor where the dominant northwest-trending magnetic fabric is disrupted by an east-west trending zone of magnetic variability and disruption. Samples have been sent for laboratory analysis and results are anticipated by the end of 2020.
A high-resolution airborne magnetic survey was conducted by Peter E. Walcott & Associates Ltd. covering the majority of the property, including the known areas of drill defined copper mineralization at the A, B and C Zones. The survey was flown along 100 metre spaced lines and 1,000 metre spaced tie lines. The survey expanded upon the existing historical ground magnetic survey completed in 1973 and provides a much greater level of detail at the known areas of copper mineralization. The survey also highlighted additional target areas in the southern portion of the property where historical soil geochemical sampling identified copper-molybdenum in-soil anomalies.
Figure 1 – 2020 RC Collar Locations with 2020 Airborne Magnetics (TMI)
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“We look forward to receiving the multi-element geochemical data from the 2020 RC drill program at Jean Marie. Although percussion drilling at the A Zone by Cominco in 1974 encountered intriguing copper values, at that time, detailed multi-element analysis was not available,” commented Pacific Empire’s President and CEO, Brad Peters. “Going forward, there will be a renewed emphasis on maximizing the value of the extensive multi-element geochemical dataset we have at Jean Maire, and in collaboration with the team at OreQuest I am confident that our efforts will produce robust exploration targets.”
All of the geophysical and geochemical data collected during 2020 will be incorporated into the existing dataset and will be used to develop targets for follow-up field programs and drill testing in 2021. PEMC has now met its first-year expenditure commitments and have a property wide exploration permit through 2021.
Rock samples collected from the A Zone (Applecot showing) returned up to 0.442 g/t gold with 1.3% copper and 15 g/t silver. At the newly identified Leap Target area, 800 metres to the south of the B Zone, rock sampling returned up to 8.79 g/t gold, 86.7 g/t silver and 1.74% copper. Approximately 400 metres south of the C Zone, additional gold mineralization was encountered when continuous chip sampling of a hand trench (Trench 1) yielded 4.0 g/t gold over 8 metres with the entire 20-metre length of the trench averaging 1.7 g/t gold. A second hand trench (Trench 2) was sampled approximately 250 east of Trench 1 where continuous chip sampling yielded 4 metres grading 1.37% copper, 0.08 g/t gold and 67.4 g/t silver. At this time, the trend and true width of mineralization at both hand trenches is unknown.
Table 1 – Summary of 2020 Rock Samples at Jean Marie
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Figure 2 – Summary of Gold Results from 2020 Rock Sampling
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Figure 3 – Summary of Copper Results from 2020 Rock Sampling
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Figure 4 – 2020 Airborne Magnetic Survey (TMI)
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The Jean Marie property is characterized by a northwest trending magnetic signature that traverses the property from south-east to north-west. Results from the airborne magnetic survey highlight several areas where this dominant northwest trending magnetic signature is interrupted by east-west and north-east striking zones of magnetic disruption.
At the A Zone, where 2020 RC drilling was focused, the airborne magnetic survey shows an east-west zone of magnetic disruption that is interpreted to represent a structural discontinuity, favourable to host porphyry intrusions. In the southern portion of the property, a more heterogeneous magnetic signature is observed. Rock sampling in this area by PEMC during 2020 returned up to 0.218% copper and 176 ppm molybdenum.
Brad Peters, Pacific Empire’s President and CEO, states, “The high-resolution magnetic survey will greatly aid the Company as we continue to develop exploration targets for 2021. Results are currently being processed and will be subsequently integrated and interpreted together with geochemical datasets.”
A total of 10 RC drill holes totaling 1,027 metres were completed during the 2020 field season. The exploration program at Worldstock was designed to test a variety of geophysical anomalies across the property. On the basis of on-site XRF analysis, three holes were selected and sent for laboratory analysis. Results from these holes have now been received and a summary is presented below.
|Hole ID||From (m)||To (m)||Interval (m)||Copper (%)||Gold (g/t)|
|RC20WOR002||No significant values|
|RC20WOR006||No significant values|
Table 2 – Summary of Worldstock 2020 RC Drilling – Laboratory Analytical Results
At the Weedon property, a total of three RC drill holes were attempted, of which two intersected bedrock. Drilling focused on the T1 target area where previous operators identified a large area of anomalous chargeability coincident with an anomalous geochemical signature. The first hole (RC20WEE001) was drilled to a depth of 51.8 metres and failed to reach bedrock. The second hole (RC20WEE002), collared approximately 500 metres to the south of RC20WEE001, encountered bedrock at a depth of 47 metres and was drilled to a depth of 108 metres. A third hole (RC20WEE003) drilled to the east of the first two holes was collared where overburden was less extensive and was drilled to a depth of 100.5 metres.
A preliminary analysis of chip samples was completed on-site using the Company’s portable XRF analyzer. No significant values were observed and therefore none of the chip samples were sent for laboratory analysis.
In November PEMC announced that it had engaged OreQuest Consultants (“OreQuest”) as Technical Advisors and that Mr. George Cavey, P.Geo, had been appointed as the Company’s Qualified Person (“QP”) within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
The team at OreQuest brings a wealth of experience and expertise to PEMC and we are excited to work together towards developing robust targets for the next phase of exploration at Jean Marie.
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Chip samples and rock grab samples were collected and placed in polyethylene bags before being shipped to MS Analytical (“MSA”) in Langley, BC. Internal laboratory standards are checked upon analysis as a means of quality assurance. Samples were analyzed using MSA’s IMS-130 multi-element analytical package, whereby 0.5 g aliquots are subjected to an aqua-regia digest and subsequently analyzed with ICP-AES/MS. Sample were also assayed using MSA’s FAS-111 fire assay gold package, whereby a 30 g fusion is ultimately finished with AAS.
George Cavey, P.Geo., Technical Advisor for the Company, 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.
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. The Company’s strong portfolio of projects is a result of continuous generative work conducted since the Company’s inception in 2012.
By integrating the project generator business model with low-cost RC 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
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.
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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