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Palamina's Commences Heliborne Geophysical Survey Over Three Gold Projects in Peru
Toronto, Ontario--(Newsfile Corp. - August 21, 2018) - Palamina Corp. (TSXV: PA) reports that New-Sense Geophysics Limited has commenced a 3,083 line kilometer
About this update from Palamina Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - August 21, 2018) - Palamina Corp. (TSXV: PA) reports that New-Sense Geophysics Limited has commenced a 3,083 line kilometer heliborne geophysical survey over its Coasa, Gaban and Cori gold projects in the Puno Orogenic Gold Belt (\"POGB\") in south-eastern Peru. In the POGB, gold mineralization frequently has an association with magnetic pyrrhotite within swarms of orogenic quartz veins and veinlets restricted to discrete, continuous packages in shear zone structures hosted by fine-grained sedimentary units. Palamina believes results from the heliborne survey will outline regional structures and help focus follow up ground exploration on identifying the most prospective sectors for possible drill testing. Andrew Thomson, President of Palamina stated, \"The heliborne geophysical surveys should rapidly advance our understanding of the structural and geological attributes of the Gaban, Coasa and Cori gold projects. Palamina is the first company to conduct airborne geophysics over these areas and continues to advance its understanding of the structures in the POGB. Given the success to date of our mapping and prospecting efforts we believe this additional information will accelerate our pace of discovery.\" Coasa Gold Project: At Coasa, the heliborne geophysical survey will target the extension of the regional shear-zone hosting GoldMining's Crucero gold deposit and the recent gold discoveries by the Company along the projection of the same structure near Phusca. The survey will also look to expand on the recently identified Veta Zone discoveries where gold values up to 39.2 g/t gold and 7 m of 4.2 g/t gold were returned from chip sampling (see July 5, 2018 NR21). Gaban & Cori Gold Projects: The Gaban & Cori Gold Projects cover 36,900 hectares where the heliborne geophysical survey will provide Palamina the first modern regional airborne dataset over an orogenic corridor which is currently the focus of both informal placer and hard rock gold mining activity. This section of the POGB sits at the apex of the San Gaban and Inambari rivers, feed from which contributes to the 700 square km's of alluvial gold being mined from the \"Mother of God\" region in the Amazon jungle. At Gaban, 10 sets of alluvial miners intermittently mine coarse gold from the Yanamayo river where Palamina has acquired...