Sampling Returns 14.2 g/t Over 1.5M
Palamina Corp. (TSXV:PA) has identified an eighth gold bearing structure at the Veta Zone through a recent channel sampling programme at its Coasa Gold Project in SE Peru.
The most recent channel sampling focussed on increasing sample density at the # 7 Zone and extending exploration to the northeast.
At the # 7 zone, new assays returned values ranging up to 14.3 g/t Au over 1.6 m in known gold structures and at the Veta NE Zone, initial sampling has returned samples ranging to 1.6 g/t Au over 1.0 m. The new Veta NE discovery is located 500 m NE of the Veta Zone. Gold mineralisation now extends along a 2 km NE trend from the Cayos Zone to the newly identified Veta NE Zone.
President Andrew Thomson said Palamina has completed its DIA (Environmental Impact Statement) which permits 40 drill pads in the Veta Zone and is awaiting the Peruvian government to approve the project’s Initiation of Activities. 12 drill holes have been allocated to the Veta Zone. Palamina may modify its DIA in the future to drill in the Veta NE Zone.
“The newly discovered Veta NE Zone has extended gold mineralization over a 2 km strike length.” Mr Thomson said.
“Palamina continues to expand its understanding of the mineralization in the SW-NE mineralised gold trend hosting the Cayos-Veta-Veta NE Zones while it awaits confirmation that it may initiate drilling activities from the Peruvian mines department.”
Mr Thomson said Palamina’s recent mapping and sampling campaign has focused on the gold bearing structures in the NE portion of the Veta Zone.
Further mapping and sampling is required in the Veta NE Zone to better understand the extent of the gold mineralization. Mr Thomson saif Palamina continues to investigate the potential that Coasa may host an intrusive related gold deposit as the gold mineralisation identified to date is centred around an intrusive.
