Pacific Empire Minerals Corporation (TSX-V:PEMC, OTCQB:PEMSF) announced that it has completed the acquisition of a 100% interest in the Col property in British Columbia, which consists of 17 mining concessions spread over 6,618 hectares and is located approximately 50 kilometers (km) southeast of Northwest Copper’s Kwanika deposit and 50 km northwest of Centerra Gold’s Mt. Milligan mine.
The copper exploration company said it purchased the property in return for granting the vendors a 2% net smelter return (NSR) royalty on the claims, half of which (1%) can be purchased by Pacific Empire for CA$500,000.
“Outright ownership of the Col property gives us enormous flexibility. Rid of annual cash payments, stock payments and work commitments, we can take the time necessary to put all our resources to work on the property profitably, and when the time is right, we will drill,” said Pacific Empire Minerals CEO Brad Peters in a statement.
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“Historic work on the Col property over the past 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 pipeline of gold-enriched copper projects in British Columbia.
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