Source: Palamina Corp.
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  • Palamina Corp. (PA) has completed four drill holes in its maiden drill program at the Usicayos gold project
  • These first four holes were drilled in the Veta Zone, where the company drilled over 1,700 metres in December
  • The company has yet to complete two more holes designed to test the remaining 200 metres of strike
  • Palamina is a Canada-based exploration company focused on the exploration of economic mineral deposits in Peru and Mexico
  • Shares in Palamina Corp. (PA) are currently down 22.92 per cent, trading at $0.185 per share

Palamina Corp. (PA) has completed four drill holes in its maiden drill program at the Usicayos gold project.

These first four holes were drilled in the Veta Zone, which hosts multiple mineralized gold structures defined at surface over an 800 metre strike length.

To date, drilling has tested 600 metres of strike length, drilling over 1,700 metres in December alone.

The company has yet to complete two more holes designed to test the remaining 200 metres of strike to the northeast.

“The company has kept the drill at site with a view to resuming drilling after the rainy season in late April,” said Palamina president Andrew Thomson.

Highlights from the recent program included a visible gold intercept grading 3.09 g/t gold over 1 metre and 0.5 g/t gold over 24 metres.

“Palamina continues to advance permitting to drill other mineralized gold zones within the 2.6 km mineralized gold trend,” added Mr. Thomson.

According to Palamina’s press release, initial drilling in the Veta Zone suggests that

  1. the intensity and concentration of veining and gold mineralization observed at surface does not extend to the depth targeted by the 2021 drilling; or
  2. that the Veta Zone may have a plunge and a narrower profile than exhibited at surface.

Palamina will re-examine surface outcrops in the Veta Zone to see if further geological data regarding plunge orientation, dilational, or crosscutting features may guide new drilling.

The company continues to examine additional anomalous gold zones along the Usicayos Trend to better understand the mineralogy and ultimately decide where further drilling is best warranted.

Palamina is a Canada-based exploration company focused on the exploration of economic mineral deposits in Peru and Mexico.

Shares in Palamina Corp. (PA) are currently down 22.92 per cent, trading at $0.185 per share as of 11:38 am EST.

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