- Palamina (PA) resumes exploration at the Lagos Silver Copper Project
- Palamina is proceeding with more sampling and mapping, a pole-dipole IP survey and has commenced an FTA environmental study
- Lagos covers 10,300 hectares and is located in the Santa Lucia mining district
- It is at a 4,200 metre elevation with excellent infrastructure that includes road access, local power, water and a railway line
- Results of the studies identified potential anomalies at depth in the Gris and Verde zones
- Palamina Corp. (PA) is trading at C$0.14 at 3:07 pm EST as of Februrary 7th
Palamina Corp. (PA) resumed exploration at its 100 per cent owned Lagos Silver Copper Project in late November of 2021.
The company conducted a mapping/sampling program, short magnetometer survey and test Induced Polarization (IP) study.
Palamina is proceeding with more sampling and mapping, a pole-dipole IP survey and has commenced an FTA environmental study in order to permit up to 20 drill pads.
Lagos covers 10,300 hectares and is located in the Santa Lucia mining district, 72 km southwest of Palamina’s regional field office in Juliaca in the department of Puno, Peru.
Lagos is at a 4,200-metre elevation with excellent infrastructure that includes road access, local power, water and a railway line that transverses the property.
To date, four field campaigns have been completed with four distinct mineralized zones identified. The Rosa and Azul zones to the north host higher grade Ag-Cu veins, related to fault zones and hydrothermal breccias.
The Gris and Verde zones to the south are being explored to potentially host broad zones of Cu-Ag mineralization, similar to the Cu oxide material found at the surface.
In December of 2021, Palamina carried out a channel sampling program in the Verde and Gris zones where outcrop is variable. Select results from mineralized intervals returned results as follows:
“During the rainy season Palamina is conducting further mapping and sampling, a pole dipole IP survey and an FTA environmental permit which allows for up to 20 drill pads,” said Andrew Thomson, President of Palamina.
In the last quarter of 2021 a test geophysical program was carried out by Valdor Geofisica S.A.C. including a 21 linear km mag survey, 14.1 linear km pole-dipole IP survey and 8.8 km gradient IP survey.
Results of the studies identified potential anomalies at depth in the Gris and Verde zones and to a lesser extent in the Rosa zone.
Palamina has elected to proceed with more pole-dipole IP surveys to identify drill targets. No drilling has ever been carried out on the Lagos claims.
Palamina has the first-mover advantage on 4 district-scale gold projects in southeastern Peru in the Puno Orogenic Gold Belt (POGB). A maiden drill program is underway at its flagship Usicayos Gold Project.
Palamina Corp. (PA) is trading at C$0.14 at 3:07 pm EST as of February 7th.
