Pacific Empire Minerals Announces Focus on its Pinnacle Porphyry Project
Pacific Empire Minerals Announces Focus on its Pinnacle Porphyry Project
August 13, 2019 - Vancouver, BC, Canada - 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 that based on continued weak copper performance and
improved gold price , the Company will focus its ongoing 2019 exploration efforts advancing its 100%
owned Pinnacle Porphyry Project. The Pinnacle Porphyry Project covers over 14,000 hectares and
incorporates the Company’s NWT and Pinnacle Reef properties into one contiguous land position. All
necessary permits have been submitted and induced polarization surveys are expected to begin shortly .
Reverse circulation (“RC”) drilling is intended for the fall and winter.
New Priority Drill Targets at Pinnacle
From 2014 through 2017, partner-funded exploration resulted in a total of 14 diamond drill holes and four
Induced Polarization (“IP”) surveys on the property. At the Elbow Zone, five of the six diamond drill holes
were sent for laboratory analysis and all five of these holes returned anomalous gold, highlighted by 94
metres grading 0.34 g/t gold in DD15ELB001. At the Sooner Zone, where diamond drilling in 2015
encountered broad intervals of anomalous copper, no further drilling was completed. Both of these areas
have been prioritized for follow up RC drilling in 2019.
PEMC acquired the Pinnacle Reef property through staking in 2012. Since 2014, the property has seen over
$2,000,000 in partner-funded exploration. During 2014, a total of 44 line-km of IP surveys were completed
over three target areas on the Pinnacle Reef property, by previous partner Oz Exploration Pty Ltd. ("OZE").
This program identified three areas of anomalous chargeability , two of which (Elbow and Sooner) were
prioritized for follow up diamond drill testing in 2015 , one (Later) remains untested. In 2015, the Elbow
and Sooner target areas were tested with diamond drilling by OZE with six holes totaling 2,493 m.
Additional drilling was completed during 2016 by ML Gold at the Elbow Zon e with three diamond drill
holes totaling 1,107 m. Similar to the 2015 drill results, anomalous gold intercepts were associated with
localized phyllic alteration at the Elbow Zone.
On July 26, 2019 ML Gold Corp. (“ML Gold”) elected to terminate its optio n agreement on the Pinnacle
Reef property, reverting all rights to the Pinnacle Reef property back to Pacific Empire , an outcome that
PEMC hoped would transpire.
Pacific Empire’s President, Brad Peters, added, “Partner-funded diamond drilling intersected
significant gold at the Elbow Zone and copper at the Sooner Zone. The impact of logging
operations over the last five years means exploration that was previously dependent on helicopter
support, can now take advantage of the extensive network of roads, making it suitable for summer
and winter RC drilling.”
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Table 1 - Highlights of Diamond Drilling at the Elbow Zone
Figure 1 - Pinnacle Porphyry Project Target Areas
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The northern half of the Pinnacle property was staked by PEMC in the fall of 2018 to cover an area of
anomalous gold geochemistry in stream sediments and to cover a subtle magnetic anomaly from
government funded regional airborne magnetic surveys. In the sprin g of 2019 , PEMC completed a high
resolution airborne magnetic survey over the entirety of the property to determine if greater levels of detail
could assist in interpreting the underlying bedrock. The survey was successful in providing a much greater
level of detail and identifying areas for IP geophysical surveys and follow up drill testing. Initial results
suggest the property is centered on an area with a complex magnetic signature cut by numerous northeast
trending structures.
Based on positive results from the airborne magnetic survey, an IP survey is planned for the coming weeks
to assess the potential for buried gold and copper mineralization. In conjunction with the IP survey, PEMC
field crews will be completing seismic surveys to assist with the interpretation of the IP survey results and
to determine depth to bedrock if results from the IP survey support RC drilling.
Figure 2 - Detailed Magnetics from 2019 Airborne Survey at Pinnacle North
Although historical exploration i n this immediate area is limited, previous stream sediment sampling
surveys returned anomalous gold up to 185 ppb in the east -central portion of the property and a sediment
sample over 3.3 g/t gold 1.5 km to the east of the property.
Pacific Empire’s President, Brad Peters, added, “PEMC management has encountered visible
gold on three occasions in and around the project area. In 2007, v isible gold was observed in
outcrop to the east of the property, in 2015 visible gold was observed in drill cuttings from hole
DD15ELB001 and on an ongoing basis PEMC has observed gold in the surrounding creeks when
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panning. Early in my career I was told that if I ever find visible gold on a property, do not give up
and to be persistent.”
Summary of 2019 Exploration Results on Bulkley Projects
Following the completion of seismic surveys on its Bulkley projects and a soil geochemical survey
on the Paragon property, PEMC began RC drill testing its highest -ranking target areas. Results
from the soil geochemical survey and initial RC drilling did not return results consistent with
PEMC’s minimum threshold criteria. As such the Company has elected to focus on its 100%
owned Pinnacle Porphyry Project for the balance of the 2019 exploration season.
Pacific Empire and BatteryOne Royalty Complete Royalty Purchase Agreement
On March 4, 2019 PEMC and BatteryOne Royalty Corp. (“BatteryOne”) entered into a royalty
purchase agreement pursuant (the “Initial Agreement”) to which BatteryOne was granted a right
to acquire a one percent (1%) net smelter returns royalty on the production from the Pinnacle Reef
Property upon the expiry or termination of an option agreement dated July 12, 2016 between
PEMC and ML Gold (the “Option Agreement”), on the terms and conditions as set out in the Initial
Agreement. Following ML Gold’s termination of the Option Agreement, BatteryOne exercised its
right to acquire the one percent (1%) Pinnacle Reef Royalty in a transaction that closed on August
9, 2019.
Qualified Person
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,
“Brad Peters”
President and Chief Executive Officer
Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
www.pemcorp.ca
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