Toronto, Ontario–(Newsfile Corp. – May 29, 2024) – Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) releases the initial assay results from the first 2024 field campaign in the Sol de Oro Zone (“SDO”) at its 100% owned Usicayos Gold Project, located in southeastern Peru. This project boasts a 4.5 km long mineralized orogenic gold trend spanning multiple zones. In 2024, the company plans to conduct drill programs in the SDO Zone initially and then in the Cayos Zone later in the year. The upcoming drill program aims to target the mineralization controls after the completion of geochemical sampling programs and a structural study at the SDO Zone. A drone-borne survey over the entire trend is also underway to refine drill targets and controls.
Identifying Mineralized Target Areas
Four mineralized target areas have been identified at SDO, including SDO North, South, East, and West. Initial results from the SDO North target reveal high-grade gold associated with strongly foliated black shales cut by East-West brittle faults, suggesting control over the location of coarse gold. The company has received results from 169 channel samples, with 15% of samples yielding grades above 1 g/t Au from the SDO North target.
Insight on Drilling Program
The upcoming drilling program is designed to test the down-dip extension of the mineralized mantos found at the surface. With a minimum of 3,000 meters of drilling planned, the company aims to confirm the continuity of high-grade gold in the shear zone. Due to the presence of multiple visible gold showings on the surface at both SDO N and E zones, further exploration is needed to understand their full potential.
Additional Sampling and Exploration
Geologists have collected more channel samples from the SDO East, highlighting the presence of multiple mantos with gold mineralization along the strike length. The mineralization at SDO is hosted in Paleozoic Ananea Formation shale and mudstone, controlled by regional shear zones developed through thrusting. The company is focused on identifying and testing the vertical feeder zone responsible for gold mineralization in the region.
Implementing Metallic Screening Methodology
Palamina Corp. has adopted metallic screening methodology to obtain more accurate gold results, especially in areas with visible coarse gold. The method allows for the quantification of coarse gold in deposits and provides a better understanding of gold distribution in a sample. This approach enhances the accuracy of gold content evaluation in Usicayos.
Conclusion
Palamina Corp. is making significant progress in exploring the Usicayos Gold Project, with promising initial results from the SDO Zone. By utilizing innovative techniques and focusing on detailed sampling and exploration, the company aims to unlock the full potential of the project and advance towards a successful drilling program.
