Business
Pacific Empire Provides Corporate and Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2023) - Pacific Empire Minerals Corp....
About this update from Pacific Empire Minerals Corp.
[{"type":"text","content":"Pacific Empire Provides Corporate and Exploration UpdateVancouver, British Columbia--(Newsfile Corp. - September 6, 2023) - Pacific Empire Minerals Corp. (TSXV: PEMC) (\"Pacific Empire\", \"PEMC\" or the \"Company\"), a British Columbia copper explorer, is pleased to provide a corporate and exploration update on its Trident and Pinnacle projects.Over the past decade Pacific Empire has operated under the \"Prospect Generator\" business model, where the Company would acquire projects through staking or through option agreements. The Company would then seek to attract partners to advance the projects, primarily in the form of diamond drilling. The acquisition of the Trident Copper-Gold Porphyry Project marks a significant turning point for the Company and an opportunity to focus entirely on advancing one highly prospective project toward discovery, while partner-funded exploration continues at the Company's Pinnacle Copper-Gold Porphyry Project. \"Acquiring the Trident property is a game changer for the company,\" commented Brad Peters, President, and CEO and Director of Pacific Empire. \"This is a property that I had been watching very closely over the past seven years. Pacific Empire had originally optioned the then named Col property in 2013 and during 2014 the property was advanced with partner-funded exploration by Oz Minerals who completed a large IP survey in addition to two diamond drill holes. In 2015 Oz Minerals dropped the option agreement and returned the project to PEMC but due to the significant cash payments and exploration expenditures required by Pacific Empire to keep the underlying option agreement in good standing we were forced to return the property back to the owner.\"Over the past seven years I remained in contact with the owner of the property and when it became apparent in April of 2022 that the claims were potentially going to expire, we came to an agreement where in return for a 2% NSR on the property Pacific Empire would acquire a 100% interest in the property. The only problem remaining was that the claims were still going to expire if there was not a significant amount of work completed immediately or by filing cash-in-lieu to maintain the claims in good standing with the government. Due to previous partner-funded exploration on Pacific Empire's projects over the past seven years we were in the fortun...