TREK 31 Property Highlights
- TREK 31 covers one of the largest and strongest geochemical gold-in-till anomalies identified by Geoscience BC's
$4.0 million government funded TREK regional initiative; - Early exploration by Orogen outlined a 2,300 by 900 metre gold-in-till anomaly situated down ice of a major structural break between rocks of the Stikine Terrane and a magnetic high, interpreted to be volcanic and intrusive rocks of Eocene age, in addition, other targets are identified for follow up 1;
- The exploration target is a Blackwater-like deposit characterized by extensive quartz-sericite-pyrite alteration with significant geochemical and geophysical footprints 1;
- Further till sampling and an approximately 12 line-km Induced Polarization survey to begin shortly with 20-hole drill program permitted and planned for early 2021.
Pacific Imperial President and CEO
Further technical information on the TREK 31 project will be provided in a subsequent press release.
About the TREK 31 Option Agreement
Under the terms of the Agreement, Pacific Imperial can earn a 100% interest in the TREK 31 project by completing the following:
Time | Aggregate Exploration | Cash (CDN) |
- | - | |
Within 6 months of Effective Date | ||
1st Anniversary of Effective Date | ||
2nd Anniversary of Effective Date | ||
3rd Anniversary of Effective Date | ||
4th Anniversary of Effective Date | ||
5th Anniversary of Effective Date | ||
TOTAL |
* Firm commitment, all other payments are at the option of Pacific Imperial. |
Providing that Pacific Imperial continues to make cash payments and exploration milestones on the anniversary dates it will earn a 100% interest in the TREK 31 project, subject to a 3.0% NSR royalty in favor of Orogen. Pacific Imperial may purchase 1% of the NSR royalty for
Quality Assurance/Quality Control
Samples were taken and delivered by Orogen to ALS Global in
Qualified Person Statement
About
Pacific Imperial is a mineral exploration company based in
The company's current focus is on the acquisition of gold and base metal properties.
About
Orogen Royalties Inc. is focused on precious and base metals project generation and royalty creation in western
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "
Neither
Orogen Royalties Corp. Press ReleaseFebruary 18, 2020 .Van Geffen , P. (2017): Enhanced Geochemical Signal in the Ultra-Fine Fraction of Tills from theTrek Project . Presentation at the BC Geoscience TREK workshop,October 17, 2017 .
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
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.
SOURCE
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