By The Gold Report
Source: Streetwise Reports 07/06/2018
Chip samples revealed gold at grades up to 39.2 grams per ton.
Through mapping and surface sampling, Palamina Corp. Palamina Corp. (PA:TSX.V; PLMNF:OTC.MKTS) found a large-scale zone of anomalous gold mineralization in the Veta area, one of the highest priority targets, of its Coasa gold project in southeastern Peru’s Puno orogenic belt.
This newly identified zone is 300 by 400 meters wide, open ended and potentially amenable to open pit mining. Chip samples of quartz-sulphide veinlets showed gold grades of up to 39.2 grams per ton (39.2 g/t), with more than one-quarter of the samples returning grades greater than 1 g/t gold. A 7 meter long chip sample revealed 4.2 g/t gold. Further sampling is currently underway to better define the gold mineralization at Veta.
Palamina has identified nine areas of anomalous geology at Coasa, including the Phusca target 5 kilometers (5 km) southeast of Veta. The anomaly there spans 2 kilometers of strike and also is open ended.
At Coasa and two other Palamina properties, a geophysical survey from the air is slated to begin in July and cover more than 3,000 km, 1,234 km of which are at Coasa. The goal is “to locate and better understand structural extensions to known gold deposits,” the news release indicated.
Free Reports:
“Palamina believes it can quickly move through to the drill testing state,” Andrew Thomson, Palamina’s president, said. “Palamina has commenced environmental and drill permitting in anticipation of a potential drill program on the Veta target.”
Read what other experts are saying about:
Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Palamina Corp. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Palamina Corp., a company mentioned in this article.
( Companies Mentioned: PA:TSX.V; PLMNF:OTC.MKTS,
)