Pacific Empire Minerals Options Sat Property, Central British Columbia
Pacific Empire Minerals Options Sat Property, Central British Columbia
December 20, 2018 - Vancouver, BC, Canada - Pacific Empire Minerals Corp. (TSXV: PEMC)
(OTCQB: PEMSF) (“Pacific Empire”, “PEMC” or the “Company”), a hybrid prospect generator focused
in British Columbia is pleased to announce it has entered into an option agreement to acquire a 100%
interest in the Sat Property located in the Babine Copper-Gold Porphyry district in central British Columbia.
The Sat Property covers 50 square kilometers and is within 15 km of the past-producing Bell and Granisle
copper-gold porphyry deposits.
About the Sat Property
Historical work conducted on the Sat Property includes over 3,000 metres of diamond drilling, 180 line-km
of induced polarization surveys, collection of over 3,500 soil geochemical samples and ground and airborne
geophysics. Historical drilling focused on was has been interpreted as a “pyrite halo”, measuring
approximately 1,200 x 600 metres. Drilling encountered biotite -feldspar porphyry dikes and sills which
intrude moderately to intensely chlorite-epidote-calcite altered andesitic volcanics, argillite and basalt.
Anomalous copper values are present in several holes, though intercepts indicating a potentially economic
deposit have not been encountered to date.
Thorough data compilation and review has outlined several targe t areas untested by drilling, the most
significant of which is situated adjacent to the interpreted pyrite halo where bedrock exposures are obscured
by glacial overburden. A network of logging roads make the Property ideally suited for PEMC’s reverse
circulation drill.
Details with respect to the consideration payable for the Sat Property acquisition are as follows:
Table 1. Option agreement terms.
Timing Cash Payments * Share issuances
Upon signing $5,000 -
First anniversary of Effective Date $5,000 50,000
Second anniversary of Effective Date $10,000 100,000
Third anniversary of Effective Date $20,000 150,000
Fourth anniversary of Effective Date $25,000 200,000
TOTAL = $65,000 500,000
The vendors of the property hold a 1% net smelter royalty (“NSR”). The Company may purchase one half
of the NSR at any time from the vendors for $500,000. *
* Dollar amounts expressed in Canadian dollars
This property acquisition remains subject to approval of the TSX Venture Exchange. Any securities issued
as consideration under this option agreement will be subject to a statutory hold period of four months and
one day from the date of issuance.
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Figure 1. Location map – Sat Property.
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About the Babine Copper-Gold Porphyry District
The most significant deposits and occurrences in the Babine Lake area are temporally and spatially related
to Eocene (50 Ma) Babine intrusions. These host more than a d ozen deposits and occurrences in addition
to the past producing Bell and Granisle open -pit mines which processed 130 million tonnes with average
recovered grades of 0.40% copper and 0.15% gold between 1966 and 1992.
Babine intrusions occur as small stocks, plugs and dike swarms emplaced along northwest-trending regional
faults developed in arc-derived Mesozoic volcanic and sedimentary assemblages. The dominant host rock
for copper-gold mineralization is a distinctive, fine- to medium-grained, crowded biotite feldspar porphyry
(BFP) of granodiorite composition. Copper-gold mineralization occurs as chalcopyrite and bornite within
narrow quartz-filled fractures and stockworks and as disseminations within and marginal to BFP intrusions.
Although most of the kn own porphyry deposits and occurrences were found by basic prospecting and
stream sediment geochemistry, subsequent exploration in the Babine area has been hampered by extensive
glacial overburden cover.
Pacific Empire’s President, Brad Peters, added: “The addition of the Sat Property increases our land
position in the Babine Copper-Gold Porphyry District to over 15,000 hectares with numerous drill targets.
We intend to focus our 2019 exploration efforts in this area , though we will continue to advance other
projects in our portfolio.”
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
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.
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Forward-Looking Statements
Information set forth in this news release may involve forwa rd-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 statem ents 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, perform ance 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 add itional 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 office rs, 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.