Pacific Empire Minerals Corporation (TSX-V:PEMC, OTCQB:PEMSF) said it has completed the acquisition of a 100% interest in the Col property in British Columbia, which consists of 17 mineral claims spread over 6618 hectares and is located about 50 kilometres (km) to the southeast of Northwest Copper's Kwanika deposit and 50 km to the northwest of Centerra Gold's Mt. Milligan Mine.
The copper exploration company said it purchased the property in exchange for granting the vendors a 2% net smelter return (NSR) royalty on the claims, one-half (1%) of which may be purchased by Pacific Empire for C$500,000.
“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,” Pacific Empire Minerals CEO Brad Peters said in a statement.
READ: Pacific Empire Minerals finalizes drill targets for upcoming exploration program at Jean Marie copper project in British Columbia
“Historical work at the Col property over the last 50 years has also demonstrated the potential for very attractive copper-gold grades,” Peters added.
Based in Vancouver, Pacific Empire Minerals is a copper exploration company with a strong portfolio of gold-enriched copper projects in British Columbia.
Contact Sean at sean@proactiveinvestors.com