August 24, 2020 - Vancouver, BC, Canada - Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (“Pacific Empire”, “PEMC” or the “Company”) is pleased to announce it has mobilized a geophysical crew to its Jean Marie Project (“Jean Marie” or the “Project”). Jean Marie is a copper-gold-silver-molybdenum porphyry project located 50 km west of Centerra Gold Inc.’s Mt. Milligan copper-gold mine in central British Columbia. The Jean Marie Project has multiple mineralized zones which are open for expansion and has several additional exploration targets across the Project.
Highlights:
- Ground based magnetic survey to cover area of recent rock sampling at C Zone South, where rock sampling and trenching (PEMC News Release, August 11, 2020) identified significant gold mineralization, including 4.0 g/t gold over 8 metres from trench sampling
- PEMC geologists are currently conducting follow-up geochemical sampling to better understand lateral extent and significance of gold mineralization at Jean Marie
Brad Peters, Pacific Empire’s President and CEO, states, “Detailed ground magnetics and follow-up geochemical sampling is the next step towards characterizing the controls on gold mineralization and identifying the most prospective target areas prior to the initiation of drilling in 2020. In addition, the presence of significant gold mineralization from recent sampling underscores the potential at Jean Marie for a gold-enriched copper porphyry system.”
About Jean Marie
The Jean Marie consists of 7,350 ha of contiguous mineral claims in north-central British Columbia situated 50 kilometres west of Centerra Gold Ltd.’s Mt. Milligan copper-gold mine. PEMC holds an option to earn a 100% interest in the Jean Marie. The Jean Marie straddles the contact between the Jean Marie multiphase stock and andesitic volcanics of the Late Triassic to Early Jurassic Witch Lake. Several drill-indicated zones exist on the Jean Marie, two of which have only been historically drilled to a maximum depth of 92 metres. Recent logging operations and associated infrastructure have made road-based drilling activities possible. The most recent drilling at any of the three drill indicated zones was completed at the B zone in 1997. The final hole of the 1997 program intersected 184 m @ 0.33% copper, which includes an interval of hydrothermal breccia grading 1.2% copper over 27 metres.** Numerous additional exploration targets exist on the Property, particularly along a 9 kilometre trend that extends southeasterly from the A zone.
** The Company has not verified historical drilling results but has reviewed the historical sampling and analytical procedures and has no reason to believe the historically reported results are unreliable or misleading.
Qualified Person
Rory Ritchie, P.Geo., Vice President of Exploration for the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has approved the scientific and technical information and disclosure contained in this news release.
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
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.