Toronto, Ontario--(Newsfile Corp. - June 10, 2022) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) On June 9, 2022 Palamina paid US$ 44,000 to acquire 100 % of a 200 hectare titled internal concession at the Usicayos Gold Project. An additional US$ 11,000 is being held in trust to be paid on notification from the Registro Publicos that the titled claims have been transferred and fully registered to Palamina S.A.C. (Palamina's Peruvian subsidiary). Palamina now holds 100% title interest to 14,012 hectares at Usicayos with no underlying payments or royalties.
Over the last 3 years surrounding concessions within the principal NE mineralized gold trend totalling another 1,600 hectares were secured through staking and won at subsequent auctions. These interior claims are located southwest of the Veta Zone that has been tested by drilling in 2022, are in the same structural corridor and increases the strike length of the known cluster of surface gold mineralization held by Palamina from 2.4 to 4.5 km's. The entire 1.5 km wide by 4.5 km long trend is on privately held ground.
"Following the latest acquisition, Palamina now holds 100% title interest to the 1.5 km wide by 4.5 km long NE trending cluster of gold-bearing structures defined to date at Usicayos. Newly announced gold zones Sol de Oro, Veta Flor and Coriwasi host numerous small historic adits and gold mine sites formerly operated by informal miners seeking free gold within the NE trending shear zone structures. Drill pads will be allocated to all zones under Palamina's existing drill permit. Palamina has completed VE-05-22 and VE-06-22 in the Veta Zone and submitted the drill core sections of interest from both holes to the assay lab and we are awaiting results."
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