Wildcat Property

Overview

The 5,826 hectare Wildcat Project lies approximately 10 km to the southwest of the currently producing Mt. Milligan Copper-Gold Mine in central British Columbia. The Project is located in the highly productive Quesnel Terrane, is easily accessible by vehicle and is close to hydroelectric power.

Under the terms of an option agreement, PEMC has the right to purchase a 100% interest in the property (subject to an underlying royalty) by issuing 2M shares and completing certain work commitments over a four-year period.

Work History

The property has been the focus of several historical exploration programs consisting of geochemical, geophysical and diamond drilling programs that have identified numerous targets for further exploration. Drilling by Cayden Resources in 2011 encountered hydrothermal alteration assemblages typical of those found distal to a copper+/-gold porphyry system, locally associated with anomalous copper intervals. Drill hole WC11-08 intersected 26.1 metres grading 0.14% copper while WC11-07 intersected 0.7 metres grading 1.34% copper and 0.626 g/t gold.

2018 Exploration

Phase 1 exploration in May and June of 2018 by PEMC at the Wildcat Property consisted of an 11 hole RC drilling program totaling 550 metres. The focus the Phase 1 program was to test a several areas of anomalous IP chargeability, in areas or limited to no bedrock exposure. PEMC intends to return to the Wildcat Property in the Fall of 2018 to test a high priority target that remains untested.

Exploration Targets (refer to map showing 2018 Wildcat RC Exploration Target Areas)


Target Area 1 – A roughly 5 km sq area of highly anomalous IP chargeability in an area with limited rock exposure. Phase 1 drilling indicated that the obscured bedrock consists of fine sediments with lesser interbedded trachytic volcanic flows. The highly anomalous and laterally extensive chargeability response in this area is now attributed to result from the presence of graphite in some of the sedimentary beds encountered in RC drilling. The Company considers this anomaly tested at this point.


Target Area 2 – Due to the presence of significant thicknesses (>40 m) of overburden on the southeastern side of the Rainbow fault, the Company was unable to drill to bedrock in Phase 1 drilling. Since this time, the Company has had engineered a specialized sub adapter that should facilitate drilling through overburden depths exceeding 50 m. Moreover, the Company will be employing passive seismometer before Phase 2 drilling commences in an effort to gauge variable overburden thicknesses in the area and target with the drill appropriately. This target area remains untested.


Target Area 3 – A roughly 1 km2 area of moderate to high chargeability “up-ice” from dispersed copper-in-soil anomalies. 2018 RC drilling encountered anomalous copper in diorites and trachytic volcanics, but the results did not merit additional drill testing. This target area is considered tested at this point.

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