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Be the first with the news that moves the market- Pacific Empire Minerals (PEMC) has expanded mineralisation at its Jean Marie Project in British Columbia during a successful sampling program
- Rock samples at the recently identified Leap target area returned up to 8.79 grams per tonne of gold, 86.6 grams per tonne of silver and 1.75 per cent copper
- The new data, combined with previous drilling work, supports the potential for a porphyry system at depth along the Jean Marie fault
- A drill program is expected to begin at the project in the next couple of weeks
- Pacific Empire Minerals (PEMC) is currently down 11.54 per cent and is trading at C$0.12
Pacific Empire Minerals (PEMC) has expanded mineralisation at its Jean Marie Project in British Columbia during a successful sampling program.
Located 50 kilometres west of Centerra Gold’s Mt Milligan mine in central British Columbia, the copper, gold, silver and molybdenum porphyry project covers 7,350 hectares and features several mineralised zones, all of which are open for expansion.
Of particular interest was the Leap target area, which returned rock samples of up to 8.79 grams per tonne of gold, 86.6 grams per tonne of silver and 1.75 per cent copper.
Continuous chip sampling at C zone south also yielded significant results, including four metres at 0.08 grams per tonne of gold, 67.4 grams per tonne of silver and 1.37 per cent copper.
“Although outcrop is sparce, we continue to find additional mineralised areas across the property characterised by veining that is consistent with the upper level of a porphyry system,” the company said in a statement.
“This new data, combined with historical drilling at the A, B and C zones, supports the potential for a porphyry system at depth, along the Jean Marie fault.”
A drilling program is expected to begin at the Jean Marie Project in the next couple of weeks.
According to an announcement dated May 27, 2020, Pacific Empire Minerals has the option to acquire a 100 per cent interest in the project.
Under the terms of the five-year deal, the company will pay a total of C$675,000 in cash to the vendors and issue 1.5 million common shares. Pacific Empire will also be required to assume $2.7 million in work commitments.
Pacific Empire Minerals (PEMC) is currently down 11.54 per cent to 12 cents per share at 2:58pm EDT.
