Vancouver, British Columbia--(Newsfile Corp. - May 29, 2018) - Pacific Empire Minerals Corp. (TSXV: PEMC) (“Pacific Empire”, “PEMC” or the “Company”), a hybrid prospect generator focused in British Columbia, is pleased to announce that reverse circulation drilling has commenced at its Wildcat Property. In addition, the Company has now received preliminary data from its recently completed airborne magnetic survey at the Moffat Property.
Wildcat Property - Reverse Circulation Drilling
An initial 10 hole reverse circulation drilling program is now underway with the objective of testing a roughly 3.5 x 1.5 kilometre area of anomalous chargeability identified by PEMC during the spring of 2017. The target area is immediately to the north of historical drilling completed by Cayden Resources in 2011 that encountered hydrothermal alteration assemblages typical of those found distal to copper +/- gold porphyry systems.
The Property is located 10 kilometres to the southwest of Centerra Gold’s producing Mount Milligan Mine within the highly productive Quesnel Terrane, is easily accessible by vehicle and is close to hydroelectric power.
“We are excited to continue drilling projects within our portfolio,” commented Brad Peters, President and CEO of PEMC. “By continuously drilling we are able to provide discovery exposure to our shareholders, especially with projects that are close to existing mine operations.”
Property Boundary
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Moffat Property - Airborne Magnetic Survey Completed
A 208 line-kilometre airborne magnetic survey has recently been completed and preliminary data has been received by the Company. Results from the survey will be used to prioritize drill targets for testing with the Company’s reverse circulation drill in 2018. The survey was conducted by Peter E. Walcott & Associates Ltd. using a helicopter-mounted “stinger” magnetometer with lines spaced 200 metres apart.
Pacific Empire’s President & CEO Brad Peters stated: “Using a “stinger” that is directly attached to the helicopter versus a “towed array” that hangs beneath the helicopter allows the helicopter to fly at greater speeds resulting in reduced survey times and associated costs. Initial results from the airborne survey show a number of areas of interest based on the presence of roughly ovate magnetic signatures on the property.”
Moffat Property
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The 4,090 hectare Moffat Property is located approximately 56 kilometres east of Williams Lake and 15 kilometres to the south of Consolidated Woodjam Copper’s Woodjam North and South Projects.
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.
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 info@pemcorp.ca or call Investor Relations at (604) 356-6246.
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. 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,
"Brad Peters"
President and Chief Executive Officer
Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
brad@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.
Forward-Looking Statements
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.
