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Palamina Resumes Drilling at the Usicayos Gold Project
Toronto, Ontario--(Newsfile Corp. - May 16, 2022) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF)...
About this update from Palamina Corp.
[{"type":"text","content":"Palamina Resumes Drilling at the Usicayos Gold ProjectToronto, Ontario--(Newsfile Corp. - May 16, 2022) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has restarted its drilling program at the Usicayos Gold Project in southeastern Peru post the end of the rainy season. In the first quarter of 2022, Palamina worked with independent geological consultants and GoldSpot Discoveries to complete 3D modelling of the drilling carried out in 2021 in the Veta Zone to optimize the position of the first drill hole VE-5-2022. \"Palamina has resumed drilling at Usicayos where drill hole VE-05-22 is underway in the Veta Zone. Drill pad 5 has been moved much closer to the outcropping gold-bearing quartz veins where the company is drilling at a shallower depth to test the most easterly 200 metres of the Veta Zone. Palamina will await the results of VE-05-22 before electing to drill further in the Veta Zone,\" commented Andrew Thomson, President of Palamina.Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4727/124098_b40a571344f148a1_002full.jpg In 2021, Palamina completed 4 diamond drill holes over a total 1,704.50 metres along the 800 metre mineralized gold strike length defined at surface in the Veta Zone. The Veta Zone is on the eastern end of a 4.6 km long gold structure trending northeast. Drill hole VE-01-2021 returned 1m @ 1.26 g/t Au, VE-02-2021 1m @ 3.09 g/t Au (visible gold in intercept), VE-03-2021 24m @ 0.5 g/t Au and VE-04-2021 11m @ 0.8 g/t Au (visible gold in intercept). The 2021 drill holes failed to intercept high-grade Au mineralization similar to that found at surface. Drill hole five is set up closer to the exposed gold-bearing quartz veins and will be drilled at a shallower angle testing the continuity of mineralization in this segment of the zone.Palamina is in process of completing the modification of its DIA (Declaración de Impacto Ambiental) in order to drill additional gold zones southwest of the Veta Zone. Under the current DIA Palamina can build a total of 40 drill pads where 5 drill pads have been completed to-date. As part of that process, Palamina recently completed two additional surface rights agreements covering areas where additional drill holes have been planned southwest of the Veta Zone. Technical InformationPalamina Corp. quality assurance/quality control ...