Home Sports Power Nickel Increases Previously Announced Non-Brokered Private Placement by C$300,000

Power Nickel Increases Previously Announced Non-Brokered Private Placement by C$300,000

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“We are very pleased with the results from diamond drilling at Jean Marie during 2022. Most importantly the area of copper mineralization was extended approximately 200 metres to the northwest,” commentedBrad Peters, President, and CEO of Pacific Empire. “Encountering the mineralized breccia that was originally identified in historical drilling in hole 97-11 is very encouraging and demonstrates that the mineralizing system in the area is of a significant size.”

Location of 2022 Diamond Drilling at Jean Marie

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JM22-01 was drilled approximately 100 metres to the west of historical drill hole 97-11 and was drilled to a depth of 400 metres. Copper mineralization that was observed in the hole consisted of disseminated, vein and breccia style mineralization. JM22-02 was drilled a further 100 metres to the northwest of JM22-01 and was successful in intercepting the mineralized breccia from approximately 150 to 210 metres depth. This hole was drilled to a depth of 300 metres.

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Section View of 2022 Diamond Drilling

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“The 2022 diamond drilling program at Jean Marie intercepted broad zones of copper mineralization,” commented Thomas Hawkins, Vice President of Exploration for Pacific Empire. “Drilling has significantly expanded the area of known high-grade copper mineralization. These first holes represent the start of a large program to further expand the central target to the east and west and at greater depths. Several of the highest priority targets that were developed from this year remain untested and will be tested during the next phase of drilling.
Historical shallow drilling intercepted Cu, Mo and Ag mineralization over a total strike length of 9km in several zones along the contact between the Jean Marie pluton and the Takla volcanic host, this year’s drilling has shown that further mineralization extends to greater depths. Mineralization and alteration is consistent over a broad area indicating a large-scale porphyry style system. Future step out drilling aims to link the different zones of known copper mineralization.”

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JM-01 @ ~170 metres showing mineralized quartz breccia

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JM-01 @ ~170 metres showing mineralized quartz breccia

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JM-02 @ ~170 metres showing mineralized quartz breccia

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JM-01 @ 167 metres showing mineralized quartz breccia

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Pinnacle Property Update

Pacific Empire and 1111 Exploration Corp. (“Eleven”) have revised the terms of the option agreement on PEMC’s Pinnacle property. Under the revised option terms, Eleven may earn a 70% interest in Pinnacle by completing $3,000,000 in exploration expenditures on the project, paying PEMC an aggregate of $460,000 in cash payments ($75,000 paid) and issuing 3,800,000 common shares (500,000 issued) to PEMC by August 2026. Following the exercise of the Option, PEMC will retain a 30% free-carried interest in the Project until the date that Eleven publishes a NI 43-101 compliant Pre-Feasibility Study (“PFS”) on the Project. Following completion of the PFS, PEMC and Eleven will form a joint venture with Eleven holding a 70% initial interest and PEMC holding a 30% initial interest.

Exploration carried out by Eleven in 2021 was centred on the Aplite Creek prospect and included collection of 173 soil samples of standard B-horizon and 85 samples collected for mobile metal ion sampling (MMI) analysis. A drone UAV (unmanned aerial vehicle) magnetic survey covering an area of four (4) km by (6) six km was also completed. In addition, historical core from 2015 and 2017 that had not been completely sampled was analyzed for trace element values to aid geochemical vectoring. Results were highly elevated for copper and gold and consistent with historical compiled data.

Gold values returned a high value of 1,460 parts per billion (ppb) (24 percent of samples over 20 ppb) and copper values with a high value of 8,010 ppm (26 percent of samples over 100 ppm and 5 per cent over 1,000 ppm). This 2021 sampling, combined with previous soil sampling, induced polarization surveys and the current magnetic survey, identified a northwesterly trending area of elevated copper and gold soil geochemistry coincident with magnetic highs and high chargeability over an area of four (4) km by 1.2 km.

The geology comprises dykes and stocks of syenite and monzonite within andesite volcanics. Alteration is dominantly widespread propylitic with localized potassic alteration near and within intrusive rocks. This large area has seen only minor drilling in 1974 and 1990. A second parallel zone to the northeast, of similar scale, is yet to be fully delineated.

Eleven is currently planning a follow-up sampling program to expand the target outlined in 2021. This work will include additional soil sampling and expansion of the magnetic survey both northwest and southeast of the core Aplite Creek area. This work will be greatly aided by a newly constructed logging access road completed in the winter of 2022.

“I am very happy that we were able to revise the terms of the option agreement,” commentedBrad Peters, President and CEO of Pacific Empire. “The group at 1111 Exploration is very experienced and capable with a wealth of knowledge in porphyry deposits in British Columbia. They have been able to bring new ideas and insights that add significant value to the project. In addition, logging operations over that past 10 years and most importantly during 2021 and 2022 have dramatically improved the ability to cost effectively access critical areas of the property, including the Aplite Creek area. When Pacific Empire acquired this property in 2012 through staking there was very limited drilling and no access. Since that time diamond drilling has successfully encountered gold mineralization in drilling over a wide area and the property can now be accessed by vehicle.”

Col Property Update

A Notice of Work (“NoW”) has been submitted for the Col property. The application is for a Multi-Year Area Based permit (“MYAB”).

Located approximately 50 km to the southeast of Northwest Copper’s Kwanika Deposit and 50 km to the northwest of Centerra Gold’s Mt. Milligan Mine, the Col property covers 6,618 hectares and is accessible by vehicle using well established logging roads.

Copper mineralization on the property was first discovered by Colin Campbell in 1969, while following up on anomalous stream sediment samples. The following year Falconbridge Ltd. optioned the property and over the next two years completed IP and magnetic surveys, geological mapping, soil sampling and diamond drilling. This work identified the A Zone.

Additional exploration programs were completed by Kookaburra Gold Corp. from 1988 through 1991, Solomon Resources Ltd. From 2006 through 2008 and PEMC/Oz Minerals Ltd. From 2014 to 2015. All of these programs completed diamond drilling, geophysical surveys and geochemical sampling.

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PEMC Project Locations

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Mineralization on the property is most significant in three areas, 1) the A Zone, 2) Campbell Trench and 3) Slide Zone.

The A Zone

At the A Zone, copper-gold mineralization occurs along a strike length of approximately 300 metres at an azimuth of 120o and where best developed it is approximately 30 meters wide over a length of approximately 175 metres. This zone was tested by a number of small diameter drill holes by Falconbridge Ltd. in 1971 with the best intersections assaying 0.84% Cu over 45.7 meters and 0.70% Cu over 51.8 metres (DDH-1971-13 and DDH-1971-20, respectively). In 2007, Solomon Resources Ltd. followed up with diamond drilling at the A Zone and demonstrated that mineralization extended at depth.

Until 2014, mineralization at the A Zone was believed to be associated with a shear zone, however while reviewing drill core from the A Zone, PEMC observed the presence of very well mineralized porphyry intrusions that are most likely responsible for the copper-gold mineralization due to their intimate relationship with quartz-sulphide veining and mineralization.

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Col Property Mineralized Zones

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Selected Highlights from Historical Drilling at Col (A Zone)

Year Hole ID Interval (m) Copper % Gold g/t
1971 DDH-1971-9 33.6 0.85 not assayed
1971 DDH-1971-13 45.7 0.84 not assayed
1971 DDH-1971-21 51.8 0.7 not assayed
2007 DDH 2007-1 42 0.67 0.14
2007 DDH 2007-2 100 0.59 0.18
2007 DDH 2007-3 32 0.61 0.317
2007 DDH 2007-4 46 0.60 0.28

 

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Porphyry intrusion and mineralization in DDH-2007-2 @ 77m associated with sheeted quartz-sulphide veining

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Porphyry intrusion in DDH-2007-2 @ 77m with chalcopyrite as blebs, disseminations and veinlets
(note emplacement of sheeted quartz veins appears to precede emplacement of porphyry)

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Sheeted quartz-sulphide veins in DDH-2007-2 from 67-90.5m

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Campbell Trench Zone

Located approximately 1 km to the northwest and 150 m higher in elevation, PEMC believes the Campbell Trench Zone may be representative of a higher level within the porphyry-epithermal spectrum. This area is characterized by the presence of large quartz veins associated with copper-gold mineralization. Visible gold was observed in outcrop at this location in 2007.

The Slide Zone

One of the more intriguing examples of mineralization on the property can be found at the Slide Zone. Located approximately 1 km to the northeast of the A Zone, the Slide Zone occurs within Chuchi Lake Succession volcanic rocks and is characterized by a large area of boulders derived from a steeply dipping fault scarp. Select grab samples from the area in 2007 returned the following values:

  • 17,700 ppm Cu, 948 ppb Au, 16.4 ppm Ag; Sample 96568
  • 5,535 ppm Cu, 429 ppb Au; Sample 96571;
  • 3,739 ppm Cu, 302 ppb Au; Sample 96570

In this area, mineralization is associated with strong epidote alteration and epidote magnetite/bornite nodules.

About Jean Marie

The Jean Marie property is a copper-molybdenum-silver-gold porphyry prospect located 50 km south of Northwest Copper’s Kwanika Copper-Gold deposit and 50 km west of Centerra Gold’s Mt. Milligan Copper-Gold Mine in central BC. The property covers over 12,000 hectares and has multiple mineralized zones which are open for expansion with drilling. Drill results demonstrate kilometer-scale base and precious metal mineralization over a large, under-explored property with multiple untested diamond-drill targets.

Drilling in the 1990’s returned near surface intercepts of up to 244m of 0.28% copper, 0.007% molybdenum and 1.1 g/t silver, in a broad area located close to the pluton, volcanic contact. Two of the holes intercepted a distinct quartz breccia which returned up to 27 metres of 1.19% copper, and 5.74 g/t silver.

Historical diamond drilling was limited to a maximum depth of 288 metres below surface and mineralization remains unbounded at depth and along strike to the NW and SE. Of the 96 holes drilled on the property since the 1970’s 76 are less than 130 metres in depth with numerous short holes that were mineralized over the entire length.

Qualified Person

Thomas Hawkins, P.Geo., Vice President of Exploration for the Company, serves as a qualified person as defined by NI 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

About Pacific Empire

Pacific Empire is a copper exploration company based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the symbol PEMC. The Company’s strong portfolio of gold-enriched copper projects in British Columbia, is the culmination of perseverance through one of the longest bear markets in the resource industry.

British Columbia is a “Green” copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.

ON BEHALF OF THE BOARD,

“Brad Peters”
President and Chief Executive Officer

Pacific Empire Minerals Corp.
Tel: +1-604-356-6246
brad@pemcorp.ca

www.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. 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.

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