Nub East Property

Overview

The 1,258 hectare Nub East Property is an exploration stage alkalic porphyry property in north-central British Columbia, located within the highly prospective Toodoggone district. The property is owned 100% by PEMC and was acquired through staking in March of 2016. The progression from high-sulphidation to skarn mineralization with decreasing elevation and moving eastward has led to the identification of a highly prospective Cu-Au porphyry target concealed in the valley in the eastern portion of the property.

Located 27 kilometres north of the Aurico Metal Inc's Kemess Underground Project, the Nub East Property is a helicopter accessible early-stage exploration Cu-Au porphyry property. The property comes to within approximately 20 km of the Omineca Resource Access Road ("ORAR"), and is within 9 km of logging and mine access roads to the southwest. Elevation ranges from 1,900 m, where high sulphidation and polymetallic mineralization occurs, down to 1,100 m in the eastern portion of the property where a conceptualized porphyry target lies in a broad NW trending valley.

Geology in the Toodoggone district is characterized by an Early Jurassic island arc felsic to intermediate volcanics, which unconformably overlie Late Triassic Takla Group basaltic and andesitic volcanics; these units are in turn underlain by Late Carboniferous to Early Permian Asitka Group sediments, volcaniclastic and volcanic units.

Historical Mineral Occurrences

The western portions of the property are highlighted by the NUB Skarn and NUB Stockwork showing areas (BC Minfile # 094E 249). The former is characterized as chalcopyrite-pyrite ± sphalerite ± galena with anomalous precious metal values, associated with calc-silicate alteration, along a 600 metre exposed wall of limestone where it is in contact with intrusive quartz monzonite.

The NUB Stockwork showing is described as an area of 4% to 8% quartz stockwork hosted in intermediate volcanic flows and tuffs, with generally narrow quartz ± carbonate ± barite veins hosting pyrite-chalcopyrite-galena ± sphalerite mineralization. Stockwork veins locally reach one metre in width.

Work History

During 2017, PEMC completed an airborne magnetic survey consisting of 62 line-km along north-south lines spaced 200 metres apart. This survey outlined and further defined a magnetic high anomaly situated beneath glaciofluvial cover in a broad NNW-SSE oriented valley bottom, immediately adjacent to a NW trending regional scale fault.

Exploration Targets

The exploration model for the property is predicated on targeting Cu-Au porphyry deposits at the most reasonable stratigraphic level, which in turn leads PEMC to believe that broad valleys with magnetic high anomalies at approximately the 1,100 m elevation are high priority targets in the eastern Toodoggone district. Such an anomaly exists on the Nub East Property, and PEMC intends to test the target area with reverse circulation drilling in 2018.

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