Pacific Empire Minerals Corp (CVE:PEMC), the prospect generator group, told investors it will focus its exploration efforts this year on its Pinnacle porphyry project in British Columbia in the light of an improving gold market and a falling copper price.
The asset covers over 14,000 hectares and includes the firm's NWT and Pinnacle Reef projects into one contiguous land position.
Pacific Empire said all the necessary permits have been submitted and induced polarization (IP) surveys were expected to begin shortly, while reverse circulation (RC) drilling is earmarked for this fall and winter.
READ: Pacific Empire Minerals kicks off drilling at Bulkley copper, gold project and updates on activity at Worldstock and NWT
The company acquired the Pinnacle Reef property through staking back in 2012 and, since 2014, there has been over C$2 million in partner-funded exploration
In 2015, the Elbow and Sooner target areas were tested by diamond drilling with six holes completed totaling 2,493 metres (m).
Additional drilling was completed during 2016 at the Elbow Zone with three diamond drill holes totaling 1,107m. Similar to the 2015 drill results, anomalous gold intercepts were associated with localized phyllic alteration at the Elbow Zone.
Both of these zones have been prioritized for follow up RC drilling this year, the company said.
In a statement Tuesday, Pacifc Empire's president Brad Peters commented: "Partner-funded diamond drilling intersected significant gold at the Elbow Zone and copper at the Sooner Zone. The impact of logging operations over the last five years means exploration that was previously dependent on helicopter support, can now take advantage of the extensive network of roads, making it suitable for summer and winter RC drilling."
Visible gold encountered
The Pacific Empire boss also noted that the company has encountered visible gold on three occasions in and around the project area.
"In 2007, visible gold was observed in outcrop to the east of the property, in 2015 visible gold was observed in drill cuttings from hole DD15ELB001 and on an ongoing basis PEMC has observed gold in the surrounding creeks when panning. Early in my career I was told that if I ever find visible gold on a property, do not give up and to be persistent," he said.
The firm also updated investors on its Bulkley projects, where it said results from the soil geochemical survey and initial RC drilling did not return results which reached its minimum threshold criteria.
Thus, the company said, it has decided to focus on the 100% owned Pinnacle Porphyry Project for the rest of the 2019 exploration season.
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