The Red JV Property lies entirely within the outer boundaries of EnGold Mines Ltd.’s (“Engold”) Lac La Hache property, approximately 56 km east-southeast of Williams Lake and 16 km northeast of the village of Lac La Hache, which is serviced by BC Rail, BC Hydro and Westcoast Transmission natural gas. The area is located within the prolific Quesnel Terrane in British Columbia, host to many past and currently producing copper (gold-silver-molybdenum) mines and significant prospects.
The 1,315 hectare property is comprised of claims owned by both PEMC and EnGold. The companies combined their interests in the property to form an unincorporated 50/50 joint venture which consolidates ground covering a large, prospective porphyry copper-gold exploration target.
The Red JV overlies volcanic, volcaniclastic and sedimentary rocks of the Middle to Upper Triassic Nicola Group, which have been locally intruded by Late Triassic to Early Jurassic dioritic to granitic rocks stocks, dikes and plugs. Numerous hydrothermal magmatic prospects exist in the immediate area of the Red JV Property including, but not limited to, the Spout Skarn deposits and the Aurizon South copper-gold-silver breccia system.