Palamina Participating in Two Separate Drilling Campaigns in the Puno Orogenic Gold Belt
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) sta attualmente effettuando perforazioni presso il suo Progetto Oro Usicayos nella Cintura Oro Genica di Puno (POGB) nel sud-est del Perù. L'azienda ha completato tre perforazioni a carotaggio diamante nella Zona SDO Est e sta lavorando al quinto foro nella Zona SDO Sud, raggiungendo il punto di metà del suo programma di perforazione di 3.000 metri.
Allo stesso tempo, Winshear Gold Corp, in cui Palamina detiene una partecipazione del 15,4%, ha avviato un programma di perforazione di 1.600 metri nella zona Coritiri del suo Progetto Gaban, anch'esso situato nella POGB. Palamina mantiene una royalty del 2% sul Net Smelter Return sul Progetto Gaban, che ha precedentemente venduto a Winshear.
Entrambe le campagne di perforazione mirano a identificare la potenziale fonte di bedrock d'oro nei campi alluvionali d'oro di 1.900 chilometri quadrati nel bacino di Madre de Dios a nord. La POGB è descritta come una delle cinture oro geniche meno esplorate formalmente al mondo, con sistemi mineralizzati noti che si estendono verticalmente per oltre 1.000 metri di profondità.
Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) está actualmente perforando en su Proyecto de Oro Usicayos en la Cintura Orográfica de Puno (POGB) en el sureste de Perú. La compañía ha completado tres perforaciones con diamante en la Zona SDO Este y está trabajando en el quinto pozo en la Zona SDO Sur, alcanzando la mitad de su programa de perforación de 3,000 metros.
Al mismo tiempo, Winshear Gold Corp, en la que Palamina tiene una participación del 15.4%, ha comenzado un programa de perforación de 1,600 metros en la zona Coritiri de su Proyecto Gaban, también ubicado en el POGB. Palamina mantiene una regalía del 2% sobre el Retorno de Fundición Neto del Proyecto Gaban, que vendió previamente a Winshear.
Ambas campañas de perforación tienen como objetivo identificar la posible fuente de roca madre de oro en los campos aluviales de oro de 1,900 kilómetros cuadrados en la cuenca de Madre de Dios al norte. La POGB se describe como una de las cinturas de oro orogénico menos exploradas formalmente en el mundo, con sistemas mineralizados conocidos que se extienden verticalmente a más de 1,000 metros de profundidad.
Palamina Corp. (TSXV: PA) (OTCQB: PLMNF)는 현재 페루 남동부 푸노 오로제닉 금 벨트(POGB)에 있는 Usicayos 금 프로젝트에서 시추 작업을 진행 중입니다. 이 회사는 SDO 동부 지역에서 다이아몬드 시추공 3개를 완료하였으며 SDO 남부 지역의 다섯 번째 구멍 작업을 진행 중이며, 3,000미터 시추 프로그램의 중간 지점에 도달하였습니다.
동시에 Palamina가 15.4%의 지분을 보유한 Winshear Gold Corp는 POGB 내에 위치한 Gaban 프로젝트의 Coritiri 지역에서 1,600미터 시추 프로그램을 시작하였습니다. Palamina는 Winshear에 이전에 판매한 Gaban 프로젝트에 대해 2%의 순 제련 수익 로열티를 유지하고 있습니다.
두 시추 캠페인은 모두 북쪽의 Madre de Dios 분지에 있는 1,900제곱킬로미터의 충적 금 분포에서 금의 잠재적 베드록 원천을 확인하는 것을 목표로 하고 있습니다. POGB는 세계에서 가장 정식으로 탐사되지 않은 오로제닉 금 벨트 중 하나로 묘사되며, 알려진 광물화 시스템은 1,000미터 이상의 깊이로 수직으로 확장됩니다.
Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) effectue actuellement des forages sur son Projet d'Or Usicayos dans la Ceinture Oro Génétique de Puno (POGB) dans le sud-est du Pérou. L'entreprise a complété trois forage à diamant dans la zone SDO Est et travaille sur le cinquième trou dans la zone SDO Sud, atteignant le point médian de son programme de forage de 3 000 mètres.
En parallèle, Winshear Gold Corp, dont Palamina détient une participation de 15,4%, a lancé un programme de forage de 1 600 mètres dans la zone Coritiri de son Projet Gaban, également situé dans le POGB. Palamina conserve une redevance de 2% sur le Retournement de Fonderie Net sur le Projet Gaban, qu'elle a précédemment vendu à Winshear.
Les deux campagnes de forage visent à identifier la source potentielle de bedrock d'or dans les champs d'or alluviaux de 1 900 kilomètres carrés dans le bassin de Madre de Dios au nord. Le POGB est décrit comme l'une des ceintures d'or orogénique les moins explorées formellement au monde, avec des systèmes minéralisés connus qui s'étendent verticalement à plus de 1 000 mètres de profondeur.
Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) führt derzeit Bohrungen in seinem Usicayos Goldprojekt im Puno Orogenic Gold Belt (POGB) im Südosten Perus durch. Das Unternehmen hat drei Diamantbohrlöcher in der SDO Ost Zone abgeschlossen und arbeitet am fünften Loch in der SDO Süd Zone, wobei es die Halbzeit seines 3.000 Meter Bohrprogramms erreicht hat.
Gleichzeitig hat Winshear Gold Corp, an dem Palamina eine Beteiligung von 15,4% hält, ein 1.600 Meter Bohrprogramm in der Coritiri Zone seines Gaban Projekts, ebenfalls im POGB, begonnen. Palamina behält eine 2% Net Smelter Return-Royalty auf dem Gaban Projekt, das es zuvor an Winshear verkauft hat.
Beide Bohrkampagnen zielen darauf ab, die potenzielle Quellen von Gold aus dem Betrock in den 1.900 Quadratkilometern alluvialen Goldfeldern im Madre de Dios Becken im Norden zu identifizieren. Der POGB wird als einer der weltweit am wenigsten formal erkundeten orogenen Goldgürtel beschrieben, mit bekannten mineralisierten Systemen, die sich vertikal auf über 1.000 Meter Tiefe erstrecken.
- Palamina is halfway through its 3,000-metre drilling program at Usicayos Gold Project
- Company holds 15.4% equity stake in Winshear Gold Corp, which has begun a 1,600-metre drilling programme
- Palamina retains a 2% Net Smelter Return royalty on the Gaban Project
- Drilling campaigns target potential large-scale gold deposits in an underexplored region
- None.
Toronto, Ontario--(Newsfile Corp. - October 15, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) is drilling at its Usicayos Gold Project in the Puno Orogenic Gold Belt ('POGB') in south eastern Peru where the Company has 6 distinct exploration projects (see map below). Three diamond drill holes have been completed in the SDO East Zone at Usicayos. A fourth hole in the SDO South Zone is complete with hole 5 underway. Palamina is now reaching the halfway point in its 3,000 metre drilling program.
At the same time, Winshear Gold Corp, in which Palamina has a
Both these drilling programmes are targeting the possible bedrock source for the gold in the 1,900 square kilometres alluvial goldfields in the Madre de Dios basin to the north.
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The POGB is one of the world's least formally explored orogenic gold belts where the intercontinental highway, completed in 2008, has provided road access and spurred on a modern day gold rush at Madre de Dios. Palamina's gold projects in the POGB have been partially ground-truthed by historic as well as current artisanal, small-scale and informal miners who are generally limited by operating conditions to mining gold from no more than 50-100 metres below surface. Known mineralized orogenic gold systems in the POGB extend vertically downwards to over 1,000 metres depth.
SDO field camp with newly built stairs and lightning rod
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Mules packing the SDO core samples off the mountain
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Technical Information
The technical information herein has been reviewed and approved by Alvaro Fernandez-Baca (P. Geo.); a Qualified Person as defined by National Instrument 43-101. Mr. Fernandez-Baca is Vice President of Exploration to Palamina.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru. Palamina is adding value through drill discovery at its Usicayos gold project. Palamina also has an "acquire and hold" strategy with copper silver assets in southeastern and northeastern Peru. Palamina holds a
On Behalf of the Board of Directors:
Andrew Thomson, President
Phone: (416) 204-7536 or visit www.palamina.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements include, but are not limited to, the use of proceeds of the Offering and the Company's future business plans. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226648
FAQ
What is the current status of Palamina's drilling program at the Usicayos Gold Project?
What is Palamina's involvement in Winshear Gold Corp's drilling programme?
What is the significance of the Puno Orogenic Gold Belt (POGB) where Palamina (PLMNF) is operating?
How many exploration projects does Palamina (PLMNF) have in the Puno Orogenic Gold Belt?
