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Palamina Reports 3 Metres of 30.5 gpt Gold from the Cayos Gold Zone at Coasa
Toronto, Ontario--(Newsfile Corp. - October 4, 2018) - Palamina Corp (TSXV: PA) has conducted a reconnaissance sampling program in the recently defined Cayos go
About this update from Palamina Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - October 4, 2018) - Palamina Corp (TSXV: PA) has conducted a reconnaissance sampling program in the recently defined Cayos gold zone south of the Veta gold zone at its Coasa Gold Project in south eastern Peru. On September 25, 2018, Palamina reported the discovery of 4 visible gold zones at Veta where chip sampling returned up to 620 g/t gold and channel sampling up to 1.8 metres of 19.6 g/t gold (see NR24). Surface gold mineralization at Veta covers an 800 by 500 metre area. The Cayos gold zone is located 1.5 kilometres south of the Veta gold discovery. A total of 6 rock samples were taken in the Cayos gold zone consisting of 2 composites from small informal mining adits, 2 continuous channel and 2 selective rock-chip samples over a 200 by 300 metre area. Results were returned as follows: SAMPLE # LOCATION SAMPLETYPE WEIGHT /METRES GOLDg/t 2637 Cayos Composite 2.5 kg 16.5 2638 Cayos Composite 1.4 kg 9.8 2639 Cayos Channel 3.00 30.5 2640 Cayos Channel 1.50 2.7 2644 Cayos Rock-Chip* 0.17 2.9 2645 Cayos Rock-Chip* 0.04 0.01 *Selective rock-chip samples are not considered fully representative of the gold mineralization occurring on the project Andrew Thomson, President of Palamina stated, \"The Cayos gold zone is 1.5 kilometres south of the Veta gold zone. The 3 metres of 30.5 g/t gold intersection from Cayos represents Palamina's best channel sample to date at Coasa. Palamina is awaiting results from its heli-borne geophysical study to gain a better understanding of the structures at Coasa and to determine the relationship between the Cayos and Veta Zones. Palamina continues to discover gold mineralization associated with shear zones it believes are related to structural jog zones at Coasa.\" Members of Palamina's geological team formed part of the exploration discovery team at the Ollachea gold deposits located 65 km northwest of Coasa. The Ollachea gold deposits occur along a structurally deformed east-west trending shear. Similarly, 75 km southeast of Coasa, the orogenic gold mineralized occurrence at La Rinconada, also features a significant deformed east-west inflection zone. Midway between Ollachea and La Rinconada, the Coasa Gold Project also lies along a significant deformed east-west inflection zone at roughly the same elevation. In an attempt to better understand the Veta gold ano...