British Columbia-focused prospect generator Pacific Empire Minerals Corp (CVE:PEMC) (OTCQB:PEMSF) will be looking for more projects to drill in 2019, it said in its president's newsletter.
The company continues to evaluate "opportunities to acquire additional exploration projects either through staking or through option agreements with third parties", it said.
The Vancouver-based firm is focused on copper-gold deposits but also owns and operates its own drill. It has a large number of projects in its portfolio and can test whether they are worth pursuing or not under its own steam.
With the recent acquisition of the Paragon and Sat projects in the Babine Copper-Gold porphyry district, PEMC now holds over 170 square kilometres as part of its Bulkley Initiative, President Brad Peters also told investors.
"Importantly, the area is well suited for the development of bulk tonnage copper-gold deposits."
Notably, the Sat property covers 50 square kilometers (31 square miles) and is within 15 kilometers (10 miles) of the past-producing Bell and Granisle copper-gold porphyry deposits.
Peters said the group continued to seek potential partners to advance its projects and the large land mass at Bulkley was well suited to a partner.
Looking back at the year just gone, the group said that a total of 8,951 metres of drilling was completed by the firm and its partner ML Gold Corp.
PEMC conducted reverse circulation (RC) drill programs on ﬁve of its projects, in addition to an airborne geophysical survey on the Moﬀat project.
ML Gold carried out diamond drilling in addition to geophysical surveys at the Stars project.
Pacific Empire Minerals shares are unchanged in Toronto at $0.055 at the time of writing.
Contact Giles Gwinnett at [email protected]
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