(via TheNewswire)
-
Tulameen complex represents a large volume magmatic system, triple the size of the Turnagain complex;- The
Tulameen complex has excellent access and nearby mining infrastructure;-
Tulameen-Granite Creek property includes a Fugro helicopter-borne frequency-domain EM survey flown in 2008, which identified a strong, 1.2 kilometer strike-length EM conductor along the western border of theTulameen ultramafic complex. This conductor has been 3D modelled by SJ Geophysics;- The work history also includes a soil geochemistry survey completed in 2007, which covered less than 10% of the EM target. The survey successfully delineated an interpreted 500-meter length hydromorphic Cu-Ni soil anomaly down-slope to the northeast of the EM target. A piece of mineralized float from directly over the EM conductor is reported to contain chalcopyrite and bornite in a magnetite-rich hornblende clinopyroxenite;
- The float sample returned the following results: 0.51% Cu, 0.619 g/t Pt, 0.800 g/t Pd, 0.085 g/t Au, 4.7 g/t Ag;
- One of thehighest stream sediment cobalt result reported in the entire RGS stream sediment database for
British Columbia (~45,000 sample sites) was collected 75 meters downstream from the EM target on theGranite Creek property;- The EM anomaly is located along the northeastern edge of a 1-2 kilometer wide, northwest trending mega-shear zone (the “Eagle Shear”) mapped between the
Tulameen ultramafic complex and the Eagle Tonalite Gneiss complex. The northwestern and southeastern strike extents of the EM anomaly are bounded by deep-crustal, northeast trending faults, which are known to carry mineralization (examples-Whipsaw Creek andGranite Creek faults);- The target model for the property is an orthomagmatic Cu-PGE-Au-Ag type style deposit. Globally, layered intrusion Cu-PGE reefs are generally gabbroic and magnetite-rich and carry low abundances of Cu-Fe sulphides. Examples include the Skaegaard, Stella, Rincon
del Tigre and theColdwell Complex .The Granite Creek andChampion Creek zones in theTulameen Ultramafic Complex may represent analogues to these layered intrusion Cu-PGE reefs, as initially proposed by Nixon et.al. (2018);- The main EM conductor is a compelling target that needs to be explored further. The southern 1882 hectares of staked area has never been explored by any systematic stream sediment/soil geochemistry, prospecting and mapping although it is road accessible;
- Property is currently permitted for line cutting, road upgrades and 5000 meters of diamond drilling on 10 drill pads;
- Ground electromagnetic surveys and soil surveys to begin shortly. Drill program is permitted will be executed pending results of the geophysics survey.
Click Image To View Full Size
Figure 1: Property Location
Figure 2: Property Location 22 km southwest of
Click Image To View Full Size
Figure 3: Interpreted property geology with airborne EM and Cu soil geochemistry with location of float sample.
About the
Under the terms of the Agreement, Pacific Imperial can earn a 100% interest in the
----------------------------------------------------------------------- |Time |Aggregate |Cash |Shares | | |Exploration |(CDN) |(PPM) | | |Expenditures (CDN)| | | |---------------------------------------------------------------------| |May 15, 2020 (Effective Date)|- -- -- | |---------------------------------------------------------------------| |Subject to and | | | 400,000*| |Upon TSX | | | | |Approval | | | | |---------------------------------------------------------------------| |August 30, 2022 |$300,000 |$20,000 |200,000 | |---------------------------------------------------------------------| |2ndAnniversary |$1,000,000 |$40,000 |200,000 | |of Effective | | | | |Date | | | | |---------------------------------------------------------------------| |3rdAnniversary |$1,500,000 |$90,000 |200,000 | |of Effective | | | | |Date | | | | |---------------------------------------------------------------------| |4thAnniversary |$2,000,000 |$90,000 |200,000 | |of Effective | | | | |Date | | | | |---------------------------------------------------------------------| |5thAnniversary |$3,000,000 |$1,000,000|1,000,000| |of Effective | | | | |Date | | | | |---------------------------------------------------------------------| |TOTAL |$3,000,000 |$1,240,000|1,800,000| -----------------------------------------------------------------------
* Firm commitment, all other payments are at the option of Pacific Imperial.
Providing that Pacific Imperial continues to make cash payments, share issuance and exploration milestones on the anniversary dates it will earn a 100% interest in the
Pacific Imperial has raised flow-through private placement funds to complete half of the first year exploration program at
Qualified Person Statement
About
Pacific Imperial is a mineral exploration company based in
The company’s current focus is on the acquisition of precious metal and base metal properties.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Chris McLeod“
For further information please contact:
Email:investor@pacificimperialmines.com
Neither
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies’ press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company’s properties.
Copyright (c) 2021 TheNewswire - All rights reserved.
Copyright (c) 2021 TheNewswire - All rights reserved., source