Pacific Empire Minerals Corp. Provides Exploration Update
"Exploration targets at the Red JV Property remain, but we are moving on to other projects in our portfolio," commented Brad Peters, President and CEO. "We are pleased with the performance of our RC drill and crew. Our ability to rapidly and cost-effectively test targets is central to our strategy and allows us to test a large number of targets and prioritize future exploration programs."
Red JV Property — RC Drilling Complete
Testing of the Company's new, highly mobile RC drill rig has been completed at the Red JV Property where a total of 8 shallow holes totaling 403 metres were drilled ranging from depths of 27.5 metres to 94.5 metres. All drill samples were screened in-house using an X-Ray Fluorescence spectrometer. No significant copper mineralization was encountered, and results suggest the IP chargeability anomalies tested, in this instance, are explained by the presence of graphite within a volcano-sedimentary unit.
Staking of BC Properties
The 4,090 hectare Moffat Property is located approximately 56 kilometres east of Williams Lake and 35 kilometres northeast of the village of Lac La Hache in south-central British Columbia.
The claims cover the northeast portion of a prominent airborne magnetic anomaly within the Quesnel Terrane. The Quesnel Terrane is host to several large tonnage copper-gold porphyry deposits including New Gold's Afton Mine, Imperial Metals' Mount Polley Mine, Taseko Mines' Gibraltar Mine and Centerra Gold's Mount Milligan and Kemess deposits.
Historical drilling encountered anomalous copper-gold mineralization associated with localized potassic alteration on the eastern portion of the Moffat property. The focus of future exploration by PEMC is a large, open-ended Induced Polarization ("IP") chargeability anomaly coincident with anomalous "down-ice" soil geochemistry.
The Bulkley Initiative consists of three properties totaling 5,070 hectares in central British Columbia. The three properties are within 40 kilometres of the past-producing Bell copper-gold mine and are accessible by vehicle via gravel logging roads.
The properties were staked to cover intriguing airborne magnetic signatures with coincident anomalous copper-molybdenum-gold soil geochemistry. Historical data are being compiled to develop targets for exploration in 2018. As laterally extensive glacial overburden exists on the properties, these three properties are ideally suited for RC drilling.
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Moffat Property — Airborne Magnetic Survey
Following acquisition of the Moffat Property an airborne magnetic survey was commissioned to cover the property, in addition to completing reconnaissance of access roads. A total of 208 line-km is planned at line spacings of 200 metres over the entire property.
Results from the survey will enable the Company to better define target areas. The airborne survey results will be merged and reviewed in conjunction with historical data, including an IP survey, soil geochemistry and diamond drilling.
Wildcat Property — Road Clearing Complete
In preparation for the upcoming 2018 RC drill program access roads have been cleared to gain a head-start on summer exploration activities. The Company intends to mobilize the drill crew to the Wildcat Property in one week. The 5,826 hectare Wildcat Property lies approximately 10 kilometres to the southwest of Centerra Gold's currently producing Mount Milligan Copper-Gold Mine in central British Columbia.
Additional information on the Company and its projects can be found on SEDAR at (www.sedar.com), and on the Company's website at www.pemcorp.ca. You may also email email@example.com or call Investor Relations at (604) 356-6246.
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. 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
Pacific Empire Minerals Corp.
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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.