Hogem JV Property

Overview

The 2,390 hectare Hogem JV Property was acquired through staking by PEMC and Divitiae Resources Ltd. ("Divitiae"). Following staking, PEMC and Divitiae entered into an exploration joint venture agreement ("JV") whereby both parties contributed their respective claims to form an unincorporated JV.

The property is located in north-central British Columbia, approximately 190 kilometers northwest of Mackenzie. The property is located along the Omineca Resource Access Road, which extends from Mackenzie to the Kemess Underground Development Project north of the property and is suitable for large vehicles and machinery.

The Hogem Property lies within the Quesnel Terrane, a northwest trending fault-bounded structural basin comprised of a thick sequence of Upper Triassic to Lower Jurassic volcaniclastic and related sedimentary rocks dominated by Takla Group volcanic rocks. The Late Triassic to Early Cretaceous Hogem Intrusive Suite, the largest intrusive body in the region, intrudes Takla volcanic and sedimentary rocks. The Hogem Intrusive Suite is elongated in a north-south direction and is associated with numerous satellite plutons flanking its eastern margin.

Work History

Exploration by Swannell Minerals Corporation from 1991-1993 identified anomalous copper soil geochemistry in addition to induced polarization ("IP") chargeability anomalies. Exploration consisted of rock, stream sediment, soil, heavy mineral sampling and geological mapping. The 1991 soil survey outlined a copper anomaly (>100 ppm) measuring 400 x 600 metres that was open to the southwest. Gold results (>14 ppb) formed a pattern peripheral to the copper anomaly. Follow-up work in 1992 consisted of additional rock sampling, soil sampling, geological mapping and line cutting. In 1993, further soil sampling was completed in addition to 28 line-km of IP and 26 line-km of ground magnetic surveys. This work outlined three target areas with two areas characterized by medium to very high chargeability values and a third area characterized by a magnetic high coincident with a low chargeability signature.

From 2006 to 2008, Geoinformatics Exploration Canada Ltd. ("Geoinformatics") focused on copper-gold porphyry deposits within the central to northern Quesnel Terrane. Results of their target generation identified the area of the Hogem property from anomalous stream sediment geochemistry. In 2007, three holes were drilled to test the IP chargeability and soil geochemical anomalies.

Outcrop on the property is sparse and generally restricted to higher elevations and localized occurrences along creeks. Historical rock sampling by Geoinformatics has been conducted in areas of exposure and has returned values from 28 ppm to 6,593 ppm copper and from below detection to 308 ppb gold within volcanics.

During 2015, a reconnaissance exploration program was conducted by PEMC on the property that consisted of improving access, prospecting and rock sampling. During 2017, a geochemical sampling program consisting of B-horizon soil sampling and bark sampling was completed. This work extend the existing geochemical grid to the west and was successful in identifying diffuse copper anomalies in both soil and bark samples.

Exploration Targets

A large, open-ended coincident chargeability-resistivity high anomaly covered by glacial overburden remains untested and ranks as the highest priority target on the property. This target is suitable for reverse circulation ("RC") drilling and PEMC intends to complete a small RC drill program in 2018 to test this target area.

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