(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 7, 2022 – Pacific Imperial MinesInc. (TSXV:PPM) (OTC:PCIMF) (“ Pacific Imperial ”or the “ Company ”) is pleased to announce that on June 4 a field crew willmobilize to the TREK 31 project located 80 km south of Vanderhoof inthe Nechako Plateau of central British Columbia (Figure 1). The TREK31 property is 30 km northeast of Artemis Gold’s Blackwater GoldDeposit and covers an area of 120.4 km 2 that isprospective for gold porphyry and epithermal mineralization.
Under an Option Agreement with Orogen Royalties Inc.(“Orogen”) Pacific Imperial may earn up to an 100% interest in theTREK 31 project by making cash payments and completing explorationwork totaling CDN$3.3M over a five year period.
The initial exploration program will include geologicalrenaissance, prospecting, overburden mapping and a soil geochemistryand soil gas hydrocarbon (“SGH”) sampling program that willcollect up to 600 soil samples. The SGH methodis being investigated as a means to detect sulphide minerals inbedrock through deep till, or thin rock cover.
Two soil geochemistry grids are planned: (i) a moredetailed grid centered over a prominent induced polarization(“IP”) geophysical anomaly identified in 2020 and (ii) awide-spaced grid covering the 3 x 6 km area up-ice of the areacontaining previously identified elevated gold in basal till samples.The goal of this Phase 1 program is to identify prospective areas fora planned late June reconnaissance type 3D IP survey that is then tobe followed by a reverse circulation (“RC”) drill program.
Chris McLeod, President of Pacific Imperial stated“We are very pleased to begin the 202 2 explorationprogram on T REK . Our 2021 summer drill program was cancelled dueto wild fires in the immediate area. We have now revised our approachto exploration at TREK and intend to drilltarget s identified through a combination of tilland soil sampling and IP geophysical surveys ina RC drill program which has already received all necessarypermits”.
Mr. McLeod added: “ PacificImperial was attracted to TREK 31 as it represents a low cost,road-accessible, early stage opportunity for the Company to identify alarge scale gold-rich porphyry/epithermal deposit in a districtendowed with development stage and past-producing mines”.
Figure 1: Location map for the TREK31project in central British Columbia
Pacific Imperial acknowledges that TREK 31 is situatedon unceded territory of the Nazko First Nation and Lhoosk’uz Dene First Nation . PacificImperial is committed to developing a positive and mutually beneficialrelationship based on respect and transparency with this FirstNation.
Qualified Person
Peter Holbek, P.Geo. is the Technical Advisor andQualified Person as defined by National Instrument 43-101 who hasreviewed and approved the technical information in this newsrelease.
About Pacific Imperial Mines
Pacific Imperial is a mineral exploration company basedin Vancouver, Canada, engaged in the acquisition, exploration,evaluation and development of mineral properties in an acceptable riskenvironment. The company’s current focus is on three properties;Tulameen, Eagle Mountain Lithium and TREK 31 Gold.
? About Orogen Royalties Inc.
? Orogen Royalties is focused on organic royaltycreation and royalty acquisitions on precious and base metaldiscoveries in western North America. The Company's royalty portfolioincludes the Ermitaño gold and silver deposit in Sonora, Mexico (2%NSR royalty) operated by First Majestic Silver Corp. and the Silicongold project (1% NSR royalty) in Nevada, U.S., being advanced byAngloGold Ashanti. The Company is well financed with several projectsactively being developed by joint venture partners.
ON BEHALF OF THE BOARD OF DIRECTORS
“Chris McLeod“
Chris McLeod, President
For further information please contact:
Roman Shklanka, Chairman, at 604-649-6195, or Chris McLeod, President,at 604-669-6332
Email: investor@pacificimperialmines.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Forward Looking Information
This news release includes certainstatements that may be deemed "forward looking statements".All statements in this news release, other than statements ofhistorical facts, that address events or developments that PacificImperial Mines Inc. (the "Company“) expects to occur, areforward looking statements. Forward looking statements are statementsthat are not historical facts and are generally, but not always,identified by the words "expects", "plans","anticipates", "believes", "intends","estimates", "projects", "potential" andsimilar expressions, or that events or conditions "will","would", "may", "could" or"should" occur.
Although the Company believes theexpectations expressed in such forward looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results may differ materially from those in theforward looking statements. Factors that could cause the actualresults to differ materially from those in forward looking statementsinclude market prices, exploitation and exploration successes, andcontinued availability of capital and financing, and general economic,market or business conditions. Investors are cautioned that any suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those projected in theforward looking statements. Forward-looking statements are based onthe beliefs, estimates and opinions of the Company’s management onthe date the statements are made. Except as required by securitieslaws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, or other factors, should change.
A number of mineral resources orsignificant occurrences disclosed herein relate to nearby propertiesowned by other companies, and the data presented have been extractedfrom these companies’ press releases and websites. A QualifiedPerson has been unable to verify this information from the adjacentproperties, and such results are not necessarily indicative ofpotential quantities or grades of mineralization on the Company’sproperties.
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