New Exploration Strategy Targets High-Grade Potential at Key Porphyry Site
Pacific Empire Minerals Corp. (TSXV: PEMC) has completed the planning for its diamond drilling program at the Trident property, located 50 kilometers west of Centerra Golds Mt. Milligan Mine in British Columbia. Read more about how the updated program targets high-grade copper-gold potential with advanced geological strategies.
Pacific Empire Minerals Corp. (PEMC:TSX.V; PEMSF:OTCMKTS) has completed the planning for its diamond drilling program at the Trident property, located 50 kilometers west of Centerra Gold's Mt. Milligan Mine in British Columbia. The Vancouver-based company's updated program includes an initial fence of three to five drill holes targeting areas from south to north, alongside a separate hole designed to test a potential high-grade breccia pipe.
The company has refined its drill strategy based on geological analysis suggesting the main porphyry target dips approximately 70 degrees north. This adjustment aims to enhance the effectiveness of the exploration by aligning drill hole orientations with the structural dip of the target area. Brad Peters, President, CEO, and Director of Pacific Empire, emphasized the importance of this development, stating in the news release, "We now have a high degree of confidence that the potential porphyry target dips approximately 70 degrees to the north and the implications from this interpretation allow us to locate future drill holes and their respective orientations to best cover the target area for rapid success."
Historical analysis of the drill core from Trident has revealed mineralized porphyry dikes responsible for copper-gold mineralization. Additionally, soil geochemistry anomalies, including copper concentrations as high as 5,213 ppm, suggest a robust porphyry system upslope from previously drilled areas. The distribution of zinc and copper within the geochemical anomaly further supports the presence of a hydrothermal center in the targeted area.
The property is geologically significant, lying at a "Triple Point Junction" where volcanic and intrusive rocks converge with different types of intrusive units. This location is seen as a potential conduit for mineralizing fluids, enhancing the likelihood of a porphyry deposit. The diamond drilling program, scheduled for the summer-fall 2024 exploration season, follows a comprehensive review of historical data, core relogging, and geophysical surveys. Trident spans 6,618 hectares and benefits from excellent infrastructure, including road access and proximity to hydroelectric power.
Why Gold?
On November 11, Technical Analyst Clive Maund noted that gold experienced a significant drop following Donald Trump's election victory, breaking from its July uptrend. Maund attributed the decline to expectations of suppressed interest rates under Trump's administration, which could foster a "risk-on" environment, diverting funds from hard assets like gold. However, he maintained that any substantial correction would present a "major sector-wide buying opportunity" due to the strong long-term outlook for gold as inflationary pressures mount.
Pacific Empire was recommended as a "Buy" due to its strong potential for value creation by Jeff Clark of The Gold Advisor.The same day, Stockhead reported that gold prices had surpassed AU$4,000 per ounce. The report emphasized the allure of gold's high valuations, particularly for projects with existing government approvals, which allow for quicker transitions from exploration to production. Permitting challenges, rising costs, and regulatory hurdles were also noted as significant factors influencing the pace of development in the sector.
On November 13, Joe Vidueira, writing for the Mises Institute and posted to Quoth the Raven, explored the surge in gold prices and its impact on global monetary systems. He cited the World Gold Council's report that central banks purchased 1,037 tons of gold in 2023, the second-highest annual total on record, reflecting a growing preference for gold over traditional fiat assets. Vidueira noted that central banks' increasing gold reserves indicated "good prospects for the serious consideration" of a gold-backed international monetary system. He also quoted Judy Shelton, who suggested that the rising demand for gold underscored its potential to restore fiscal and monetary stability through innovative instruments like gold-linked Treasury bonds.
On November 17, Matthew Piepenburg from Von Greyerz highlighted the macroeconomic drivers behind gold's 2024 performance. He attributed gold's rise to weakening confidence in fiat currencies and a strategic pivot by central banks toward gold as a Tier-1 reserve asset. Piepenburg stated, "The U.S. sovereign debt market (and the dollar attached to it) is objectively and mathematically trapped with no way out other than inflating its way out," emphasizing that this dynamic was likely to drive further upward momentum in gold prices over the long term. He concluded that gold's strength amid fiscal instability and de-dollarization efforts marked it as a cornerstone asset in an increasingly chaotic financial landscape.
Gold and silver remain at early-stage valuations despite reaching nominal highs, according to The Daily Gold on November 26. Gold recently hit US$2,800 per ounce, and silver reached US$35 per ounce, yet both metals have seen limited real-term gains compared to traditional investment portfolios. Gold's ETF market share has fallen from 8% in 2011 to just over 1%, and its monetary base backing, while rising from 7% to 12.4%, remains well below the 2008 peak of nearly 30%. Reaching that level could position gold near US$6,500 per ounce.
Pacific Empire's Driving Forces
Pacific Empire's exploration at the Trident property is underpinned by its integration of advanced geological, geochemical, and geophysical methods. The company's investor presentation highlights several factors contributing to the project's potential for success. Trident is strategically located within the South Hogem Copper-Gold District, a region known for its significant porphyry systems and hosting several operational mines, including Mt. Milligan and New Afton. The property benefits from proximity to well-developed infrastructure and abundant hydroelectric power, enhancing the feasibility of exploration and potential development.
Recent refinements to the targeting approach have increased confidence in the program's success. Historical drilling has already intersected copper-gold grades directly associated with porphyry intrusions, while the discovery of well-mineralized hydrothermal breccia specimens provides further evidence of the property's high-grade potential. Additionally, the comprehensive use of magnetotelluric surveys (a geophysical method that assesses the Earth's electrical conductivity by studying natural variations in its magnetic and electric fields) and soil geochemistry data ensures a systematic and efficient exploration strategy. The property's geological attributes, combined with Pacific Empire's focused execution plan, position Trident as a promising exploration asset with significant upside potential.
Newsletter Writer Talks Pacific Empire Minerals Corp.
According to The Gold Advisor earlier this year, Pacific Empire Minerals Corp. was highlighted as a compelling investment opportunity due to its focused exploration strategy and high-potential projects. The analysis noted that historical drilling at the company's flagship Trident property intersected high-grade copper and gold, with mineralization directly associated with porphyry intrusions. A senior geologist from Teck Resources suggested the porphyry present at Trident could be of "significant size" and recommended altering the direction of drilling to better target the resource. This adjustment, described as akin to having a more accurate map, was expected to enhance exploration success.
On October 24, Jeff Clark of The Gold Advisor emphasized the strength of the company's technical team, which includes Paul Johnston, an expert on porphyry systems, and George Cavey, the discoverer of the La Preciosa silver deposit. The report also pointed to the company's low market cap of under CA$7 million, making it an attractive investment with significant upside.
Streetwise Ownership Overview*
Pacific Empire Minerals Corp. (PEMC:TSX.V;PEMSF:OTCMKTS)
*Share Structureas of 11/26/2024Source: RefinitivThe company's strategic location in the Quesnel Terrane, a prolific mining district in British Columbia, further bolstered its appeal. Pacific Empire was recommended as a "Buy" due to its strong potential for value creation. This included a quote from Clark that exclaimed, "It's a company few investors have heard of. It's time to jump in to . . . PACIFIC EMPIRE MINERALS CORP."
Ownership and Share Structure
About 3.38% of Pacific Empire Minerals Corp. is owned by management and insiders. Private companies hold approximately 0.0715%, while the general public owns the majority at 96.5%.
Top shareholders include Brad Peters with 2.46% (3,441,833 shares), according to Refinitiv
Its market cap is about CA$4.19 million. It trades in a 52-week range of CA$0.01 and CA$0.08, according to Morningstar.
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1James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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