The 1,315 hectare property has wholly owned claims, contributed to by the company and Engold Mines Ltd to form a 50:50 joint venture which consolidates ground covering a strong porphyry-copper exploration target.
The target consists of a 2.4 x 1.4km wide area of anomalous IP (induced polarization) chargeability.
This target lies around 1.6km to the southwest of Engold's G1 discovery zone and the surrounding area is host to numerous skarn and copper-gold porphyry prospects including Engold's Spout copper deposit 1.9 km to the north and Engold's Aurizon South gold deposit 6km to the east.
"By using the company's own, custom-built, RC drill rig to advance projects within our portfolio, we will be capable of advancing projects beyond the stage of traditional project generators," said Brad Peters, president and chief executive at Pacific Empire Minerals.
"In addition, we feel it may be possible to achieve this with a considerable reduction in the costs associated with contracting these services out."
The Red JV property lies within the boundaries of Engold's Lac La Hache property, around 56 km east-southeast of Williams Lake and 16 km northeast of the village of Lac La Hache, which is serviced by British Columbia (BC) Rail, BC Hydro and Westcoast Transmission natural gas.
Shares added 3.70% in Toronto to C$0.14.