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Pacific Imperial Mines Signs Option Letter Agreements to Acquire 100% of Two BC Properties with Demonstrated Porphyry Copper Potential
(TheNewswire) Vancouver, British Columbia – TheNewswire - May 29, 2023  ...
About this update from Pacific Imperial Mines Inc.
[{"type":"text","content":"Pacific Imperial Mines Signs Option Letter Agreements to Acquire 100% of Two BC Properties with Demonstrated Porphyry Copper Potential\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n May 29, 2023 – Pacific Imperial Mines\nInc.\n \n \n (TSXV:PPM) (“\n \n \n Pacific Imperial\n \n \n ”\nor the “\n \n \n Company\n \n \n ”) is pleased to announce it has entered into two option\nletter agreements dated March 31, 2023 (“\n \n \n Option Agreement\n \n \n ”)\nwhereby the Company may acquire a 100% interest in the two exploration\nprojects, Pam and Babine in Central British Columbia. Both projects\nare road accessible with demonstrated porphyry copper potential.\n \n \n \n \n The Pam property consists of seven mineral claims\ncovering 2,403 hectares located approximately 25 km northeast of the\nHuckleberry Cu-Mo Mine. The Company may exercise the option on the Pam\nproperty by paying an aggregate cash consideration of $165,000,\nissuing common shares of the Company valued at $175,00 and incurring\nexploration expenditures on the Property of $2,413,500 all in staged\namounts by March 23, 2027. Upon the exercise of the option, the\nCompany will own a 100% interest in the Pam property. The Pam property\nis subject to a 2% net smelter returns royalty held by three private\nowners.\n \n \n \n \n The Pam property is in a low lying extensively drift\ncovered area approximately 25km northeast of the Huckleberry Cu-Mo\nMine.  Past exploration has identified granitoid outcrops and float\nsamples with porphyry style alteration and mineralization.  A small\nsection of the property in the northeast corner was tested with 24\nshallow percussion holes with the westernmost hole returning anomalous\ncopper values\n \n \n \n \n .\n No follow-up drilling has been conducted.  A recent regional scale\nairborne Z-TEM survey carried out by Surge Copper Corp. identified an\nanomaly that is similar to other porphyry deposits in the area, which\nis situated on the southwestern edge of the project.  An exploration\nprogram consisting of geological, geochemical and geophysical surveys\nis planned for further work.\n \n \n \n \n The Babine property consists of three mineral claims\ncovering 2,226 hectares...