Vancouver, British Columbia – TheNewswire – February 1, 2022 – Pacific Imperial Mines Inc. (TSXV:PPM) (OTC:PCIMF) (“Pacific Imperial” or the “Company”) is pleased to provide an update on recent exploration work conducted on the Tulameen-Granite Creek (“TGC”) project. TGC comprises four claims totaling 2808 hectares (28 km2) located 22 km southwest of the town of Princeton and 18 km west of the operating Copper Mountain copper-gold (“Cu/Au”) mine in southern British Columbia. The project is in an area with excellent infrastructure and is 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 the results obtained from the 2021 exploration program on the TGC. The program included soil geochemistry, ground loop-EM geophysical surveys, geological mapping, and prospecting on claims located along the western margin of the TUC. Soil sampling within deep till overburden defined linear trends coincident with the two major conductors identified through a ground-based Time Domain Electromagnetic (“TDEM”) survey. We plan to test the conductors with a drill program in the spring of 2022. All necessary permits have been received”.
Exploration of the Tulameen Ultra-Mafic Complex
The TUC is the largest known ultramafic complex in North America, covering more than 64 km2. At the turn of the 20th century the Tulameen area was historically known as a major placer platinum producer with the TUC recognized as the bedrock source for these placer platinum deposits. Granite Creek was a significant placer gold producer, but the bedrock source is unknown. Exploration work by major and junior mining companies within the TUC has historically focused on the potential bedrock sources for platinum, palladium, and copper deposits. However there is no documentation of significant exploration work taking place in the western margin of the TUC. Deposit styles consistent with the geology of the western TUC would 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 and 1.12% Cu), as well as the past producing Giant Mascot mine, located 57 km WNW of the TGC project which was mined from 1958 to 1974 and produced ~4.2 Mt of ore grading 0.77%Ni and 0.34% Cu.
In 2008, a Fugro helicopter-borne frequency-domain electro-magnetic (“EM”) survey defined a strong, 1.2 kilometer strike-length EM conductor along the western border of the Tulameen ultramafic complex that is interpreted to be a possible sulfide target. One of the highest stream sediment cobalt samples (660 ppm) reported in the entire RGS stream sediment database for British Columbia (~45,000 sample sites) was collected 75 meters downstream from the EM target on the TGC project. Subsequent prospecting in 2020 along the axis of these conductors located mineralized hornblende-magnetite-clinopyroxenite float containing chalcopyrite with one specimen assaying 0.51% Cu, 0.619 g/t Pt and 0.800 g/t Pd.
Ground TDEM and Magnetic Survey
SJ Geophysics provided “ground truthing” of the Airborne conductors with ground magnetics and a Volterra TDEM survey. Fixed loop surface EM data was acquired along six survey lines utilizing three loop-configurations. For the magnetometer survey, two GEM GSM-19W Overhauser magnetometers were utilized as rovers while one GEM GSM-19T Proton Procession magnetometer was setup as a base station to record diurnal variations in the magnetic field. The EM and magnetic surveys indicated that there is a major conductor trending across the central portion of the local grid and a much weaker secondary feature trending along the eastern margin of the grid.
A compilation map (Figure 1) provides the location of the main and secondary TDEM conductors, ground magnetics, and interpreted geology as well as the B-horizon copper in soil values. The proposed locations of the initial drill holes are also noted in Figure 1. The 2022 drill program of up to 5,000 m in 10 holes is designed to test the two TDEM conductors where there is a strong correlation between the conductor axis and overlying anomalous copper in B-horizon soil values. The drilling will test for bedrock mineralization like the Cu-Pd-Pt mineralization identified in float near the main conductor. The property has good logging road access.
Qualified Person
Leo King, P.Geo. is the Technical Advisor and Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical information in this news release.
About Pacific Imperial Mines
Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the acquisition, exploration, evaluation and development of mineral properties in an acceptable risk environment.
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 Chris McLeod, President, at 604-669-6332
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Figure 1: Compilation of TDEM Conductor, Ground Magnetics, Cu (ppm) Soils and Geology
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Pacific Imperial Mines Inc. (the "Company“) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies’ press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company’s properties.
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