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Pacific Empire Announces Acquisition of Col Copper-Gold Porphyry Project and Solidifies Regional Scale Land Position
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2022) - Pacific Empire Minerals Corp. ...
About this update from Pacific Empire Minerals Corp.
[{"type":"text","content":"Pacific Empire Announces Acquisition of Col Copper-Gold Porphyry Project and Solidifies Regional Scale Land PositionVancouver, British Columbia--(Newsfile Corp. - June 13, 2022) - Pacific Empire Minerals Corp. (TSXV: PEMC) (OTCQB: PEMSF) (\"Pacific Empire\", \"PEMC\" or the \"Company\"), a British Columbia copper explorer, is pleased to announce that it has completed the acquisition of a 100% interest in the Col Property, which consists of 17 mineral claims spread over 6618 hectares 50 km southeast of Northwest Copper Corp.'s (\"Northwest Copper\") Kwanika Deposit and 50 km northwest of Centerra Gold Corp.'s (\"Centerra Gold\") Mt. Milligan Mine. Pursuant to the terms of a purchase agreement among PEMC, Indata Resources Ltd. and Nation River Resources Ltd. (together, the \"Vendors\"), PEMC acquired a 100% interest in the Col Property in exchange for granting the Vendors a 2% net smelter return royalty (the \"NSR\") on the claims, one-half (1%) of such 2% net smelter return royalty may be purchased for $500,000 by PEMC.\"Ownership of the Col property outright provides us with tremendous flexibility. Unburdened by annual cash payments, share payments and work commitments, we will be able to take the necessary time to bring all of our resources to bear on the property in a cost-effective manner and, when the time is right, we will drill,\" commented Brad Peters, President and CEO. \"This journey began 10 years ago and I am excited that with the addition of the Col property, PEMC now has a commanding, regional scale land position between Centerra Gold's Mt. Milligan Mine and Northwest Copper's Kwanika Deposit. Work by Northwest Copper in recent months has demonstrated the potential in this area for very attractive copper-gold grades. Historical work at the Col property over the last 50 years has also demonstrated the potential for very attractive copper-gold grades. As an added bonus the property was eligible for a one-time use of Portable Assessment Credits to advance the Good to Date of the property out until 2027. We took full advantage of this opportunity. On a personal note I would like to express my sincere gratitude to Mr. Campbell for entrusting this incredible copper project to Pacific Empire.\"About the Col PropertyLocated approximately 50 km to the southeast of Northwest Copper's Kwanika Deposit and 50 km to the northwest...