(TheNewswire)
Vancouver, British Columbia - TheNewswire - February 1, 2022 - Pacific Imperial Mines Inc. (TSXV:PPM) (OTC:PCIMF) (“ Pacific Imperial ” or the “ Company ”) is pleased to provide anupdate on recent exploration work conducted on the Tulameen-GraniteCreek (“TGC”) project. TGC comprises four claimstotaling 2808 hectares (28 km 2 ) located 22 km southwest of the townof Princeton and 18 km west of the operating Copper Mountaincopper-gold (“Cu/Au”) mine in southern BritishColumbia. The project is in an area with excellent infrastructure andis targeting Cu-PGE sulphide mineralization in the Alaskan-type,Tulameen Ultramafic Complex (“TUC”).
Commenting on the exploration results, Chris McLeod,President of Pacific Imperial stated, “We are very pleased with theresults obtained from the 2021 exploration program on the TGC. Theprogram included soil geochemistry, ground loop-EM geophysicalsurveys, geological mapping, and prospecting on claims located alongthe western margin of the TUC. Soil sampling within deep tilloverburden defined linear trends coincident with the two majorconductors identified through a ground-based TimeDomain Electromagnetic (“TDEM”) survey. We plan to test theconductors with a drill program in the spring of 2022. All necessarypermits have been received”.
Exploration of the TulameenUltra-Mafic Complex
The TUC is the largest known ultramafic complex inNorth America, covering more than 64 km 2 . At the turnof the 20 th century the Tulameen area was historically known as a majorplacer platinum producer with the TUC recognized as the bedrock sourcefor these placer platinum deposits. Granite Creek was a significantplacer gold producer, but the bedrock source is unknown. Explorationwork by major and junior mining companies within the TUC hashistorically focused on the potential bedrock sources for platinum,palladium, and copper deposits. However there is no documentation ofsignificant exploration work taking place in the western margin of theTUC. Deposit styles consistent with the geology of the western TUCwould include the Aguablanca deposit, Spain (15.7 Mt of 0.66% Ni; 046%Cu) and the Selabi-Phikwe deposit, Botswana (31 Mt of 1.36% Ni and1.12% Cu), as well as the past producing Giant Mascot mine, located 57km WNW of the TGC project which was mined from 1958 to 1974 andproduced ~4.2 Mt of ore grading 0.77%Ni and 0.34% Cu.
In 2008, a Fugro helicopter-borne frequency-domainelectro-magnetic (“EM”) survey defined a strong, 1.2 kilometerstrike-length EM conductor along the western border of the Tulameenultramafic complex that is interpreted to be a possible sulfidetarget. One of the highest stream sediment cobalt samples (660 ppm)reported in the entire RGS stream sediment database for BritishColumbia (~45,000 sample sites) was collected 75 meters downstreamfrom the EM target on the TGC project. Subsequent prospectingin 2020 along the axis of these conductors located mineralizedhornblende-magnetite-clinopyroxenite float containing chalcopyritewith one specimen assaying 0.51% Cu, 0.619 g/t Pt and 0.800 g/t Pd.
Ground TDEM and MagneticSurvey
SJ Geophysics provided “ground truthing” of theAirborne conductors with ground magnetics and a Volterra TDEM survey. Fixed loop surface EM data was acquired along six survey linesutilizing three loop-configurations. For the magnetometer survey, twoGEM GSM-19W Overhauser magnetometers were utilized as rovers whileone GEM GSM-19T Proton Processionmagnetometer was setup as a base station torecord diurnal variations in the magnetic field. The EM and magneticsurveys indicated that there is a major conductor trending across thecentral portion of the local grid and a much weaker secondary featuretrending along the eastern margin of the grid.
A compilation map (Figure 1) provides the location ofthe main and secondary TDEM conductors, ground magnetics, andinterpreted geology as well as the B-horizon copper in soil values.The proposed locations of the initial drill holes are also noted inFigure 1. The 2022 drill program of up to 5,000m in 10 holes is designed to test the two TDEM conductors where thereis a strong correlation between the conductor axis and overlyinganomalous copper in B-horizon soil values. The drilling will test forbedrock mineralization like the Cu-Pd-Pt mineralization identified infloat near the main conductor. The property has good logging roadaccess.
Qualified Person
Leo King, P.Geo. is the Technical Advisor and QualifiedPerson as defined by National Instrument 43-101 who has reviewed andapproved the technical information in this news release.
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.
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 ChrisMcLeod, 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.
Figure 1: Compilation of TDEMConductor, Ground Magnetics, Cu (ppm) Soils and Geology
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, identifiedby 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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