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Palamina Completes Heli-Borne Geophysical Survey & Provides Update on Gaban and Bendi Gold Projects
Toronto, Ontario--(Newsfile Corp. - October 29, 2018) - Palamina Corp (TSXV: PA) has completed heliborne geophysical surveys over its Coasa, Gaban and Cori gold
About this update from Palamina Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - October 29, 2018) - Palamina Corp (TSXV: PA) has completed heliborne geophysical surveys over its Coasa, Gaban and Cori gold projects in the Puno Orogenic Gold Belt (\"POGB\") of Peru. In the POGB, gold mineralization frequently has an association with disseminated magnetic pyrrhotite hosted by quartz veins within regional shear zone structures. Palamina believes results from the heliborne magnetic survey will aid in outlining regional structures with the potential to host gold mineralization. It will also help focus on-going ground exploration by identifying the most prospective sections of these structures. Raw geophysical data acquired from the surveys is being processed and the company anticipates receipt of the processed data shortly. Andrew Thomson, President of Palamina stated, \"Palamina is the first company to conduct heli-borne geophysics in the POGB. The ~3,000 line-km survey is now complete and we are awaiting the processed data to better understand the structures of the Coasa, Gaban and Cori gold projects. The combination of survey data plus on-the-ground geological knowledge should help Palamina better pinpoint prospective exploration target areas. Recent sampling campaigns at Gaban and Bendi continue to increase our understanding of the mineralized shear zone structures on these properties.\" Gaban Gold Project: Palamina holds title and application rights to 19,300 hectares at Gaban where 10 sets of alluvial miners intermittently mine coarse alluvial gold from the Yanamayo river within the property. Geochemical stream sediment sampling has returned values up to 4.9 g/t gold (at -60 mesh) in the Yanamayo river. Palamina has secured the mining rights to 85 % of the Yanamayo river watershed which is bound on all sides by four mountain ridges. To date Palamina has located five outcropping shear zones hosting quartz veins-veinlets in the mountain ridges surrounding the Yanamayo river. Palamina is targeting these shear zones as the hard rock source of the alluvial gold mineralization. Two samples were taken from historic artisanal workings along one of the shear zones located on the recently acquired \"Aurifera\" concession. These samples make up part of the Yanamayo watershed and returned: SAMPLE # LOCATION SAMPLETYPE METRES GOLDg/t 3286 Aurifera Channel 0.15 6.6 3284 Aurifera Rock-...