Palamina Corp - PLMNF STOCK NEWS

Palamina Corp has completed its 2024 scout drill program at the Sol de Oro zone of its Usicayos Gold Project in Peru. The program revealed significant gold mineralization, with notable intercepts including 0.72 g/t gold over 52 meters and 2.59 g/t gold over 8 meters. The drilling confirmed potential for an orogenic gold deposit and identified a previously unknown mineralized intrusive.

The program tested 4 main SDO zones with 2,306 meters drilled in nine holes. Key findings include broad intervals of gold mineralization in both SDO South and North zones, with assays reaching up to 24.6 g/t over 0.5m. Drilling is expected to resume in early Q2 2025 after the rainy season.

Palamina Corp (TSXV: PA) (OTCQB: PLMNF) is advancing its Galena Silver Copper Project in Peru's Puno region. The company has completed a remote sensing survey identifying manganese oxide, kaolinite, and goethite responses, and is now conducting pXRF soil sampling. The project covers high-grade copper-silver bearing quartz veins in the historic Santa Rosa mine district. Previous trench sampling yielded notable results including 8.5 metres with 3.05% Pb and 21 g/t Ag at the Gris Zone, and 9.3 metres with 2.09% Cu and 21 g/t Ag at the Verde Zone. A gravity survey is planned to map limestone contact at depth for potential Carbonate Replacement Deposit exploration.

Palamina Corp (TSXV: PA) (OTCQB: PLMNF) has completed six holes in its inaugural drilling program at the Sol De Oro Zone ('SDO') of its Usicayos gold project in SE Peru. The program tested two of three zones, covering 1,685 metres of diamond drilling across SDO East and SDO South. Drilling at SDO East confirmed a large mineralized system with higher gold values trending north. SDO South drilling revealed visible gold in quartz veins and massive sulphide veining within a blind microdiorite intrusive. Notable results from SDO East include intersections of up to 3.48 g/t gold over 3 metres. The drill is now moving to SDO North for two planned holes.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) is currently drilling at its Usicayos Gold Project in the Puno Orogenic Gold Belt (POGB) in southeastern Peru. The company has completed three diamond drill holes in the SDO East Zone and is working on the fifth hole in the SDO South Zone, reaching the halfway point of its 3,000-metre drilling program.

Simultaneously, Winshear Gold Corp, in which Palamina holds a 15.4% equity stake, has begun a 1,600-metre drilling programme at the Coritiri zone of its Gaban Project, also located in the POGB. Palamina retains a 2% Net Smelter Return royalty on the Gaban Project, which it previously sold to Winshear.

Both drilling campaigns aim to identify the potential bedrock source of gold in the 1,900 square kilometre alluvial goldfields in the Madre de Dios basin to the north. The POGB is described as one of the world's least formally explored orogenic gold belts, with known mineralized systems extending vertically to over 1,000 metres depth.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has acquired 100% of Sociedad Minera Vicus Exploraciones S.A.C. from Aurania Resources The acquisition includes the Pluma copper silver project in northeastern Peru, covering 9,800 hectares. As payment, Aurania received 350,000 Palamina common shares and a 1% Net Smelter Return royalty on Pluma.

Palamina plans to transfer its Sora, Volcano, and Galena copper silver projects in southeastern Peru to Vicus. This acquisition provides Palamina with greater flexibility to separately fund and advance its copper silver projects in Vicus and gold projects in Palamina S.A.C.

The Pluma project is adjacent to Hannan Metals 's San Martin Copper Silver Project, which is subject to a significant earn-in agreement with JOGMEC. Palamina's strategy for copper silver assets positions it to participate in new discoveries in a prolific metallogenic belt, focusing on high-demand battery metals like copper and silver.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has received a US$100,000 Advance Royalty payment from Winshear Gold Corp. (TSXV: WINS), as part of a property purchase agreement signed in 2019. The agreement includes annual payments and a 2% NSR royalty per project. Palamina holds a 15.4% ownership interest in Winshear through 4,833,333 common shares. Winshear is set to begin a 1,600 metre drilling program at its Gaban Gold Project by the end of September 2024. Simultaneously, drilling is underway at Palamina's Usicayos Gold Project. This gives Palamina shareholders participation in two drilling programs in the Puno Orogenic Gold Belt, both in the drill discovery phase.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has initiated drilling at its Usicayos Gold Project in southeastern Peru. The program focuses on the Sol de Oro (SDO) zone, with seven diamond drill holes planned for approximately 3,000 metres. The drilling targets continuous, high-grade, gold-bearing shear zones in the SDO East, South, and North areas.

The SDO zone, measuring 1.5 km wide and 2.2 km in strike length, is part of a larger 1.5 by 4.5 km gold-bearing orogenic system. The company believes this zone represents the heart of the Usicayos system. Drilling will test a working interpretation of a possible near-vertical feeder zone at the center of the SDO area.

Surface sampling has yielded promising results, including 4m of 5.2 g/t Au from channel sampling in the SDO East zone, where drilling will commence.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has reported promising results from a bulk sample study at its Usicayos Gold Project in Peru. The 20 kg sample from the SDO east zone returned an average grade of 3.6 g/t gold, with 99.73% determined to be liberated gold. This study, along with metallic screening and photon assaying, is helping establish optimal protocols for the upcoming drill program.

Key findings include:

• 99.73% of gold mass was liberated gold
• 97.88% of gold mass found as free surfaces
• Approximately 10% of gold occurs in grains larger than 150 microns
• Only a small proportion (<1%) of gold surfaces associated with gangue minerals

The SDO zone, hosted in Paleozoic Sandia Formation, is controlled by regional shear zones and measures approximately 1.5 km in width and 2.2 km in strike length. The upcoming drill program will test the interpretation of a possible near-vertical feeder zone at the heart of the SDO zone.

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has completed a drone-based magnetic survey over the 4.5 km long mineralized gold trend at its Usicayos Gold Project in Peru. The survey, conducted by Deep Sounding E.I.R.L, included a detailed Digital Terrain Model and orthophoto for high-resolution topography. A new structural interpretation of the Sol de Oro (SDO) zone confirms main controls on surface mineralization.

The magnetic survey reveals that priority drill targets in the SDO zone align with magnetic anomalies, likely linked to pyrrhotite associated with gold mineralization. Structural mapping shows high-grade gold values are controlled by a continuous low-angle shear zone intersecting vertical conjugate faults. Palamina plans to drill the SDO East, North, and South targets where these structural trends intersect.

The company has completed its camp in the SDO zone, with drilling expected to begin by month's end. This preparation positions Palamina to advance its exploration efforts at the Usicayos Gold Project.