- Palamina (TSXV:PA) has begun drilling at the Sol de Oro zone on its 100-per-cent-owned Usicayos project in Peru
- The company expects to complete seven diamond drill holes for a total of 3,000 metres across the SDO East, SDO South and SDO North zones
- High-grade, continuous gold-bearing shear zones have been identified in Paleozoic shales, siltstones and sandstones typical of the Puno Orogenic Gold Belt
- Shares of Palamina are up 6.67 per cent to C$0.16 as of 10:27 am ET
Palamina (TSXV:PA) has begun drilling at the Sol de Oro zone on its 100-per-cent-owned Usicayos project in Peru.
In a news release, the company stated it expects to complete seven diamond drill holes for a total of 3,000 metres across the SDO East, SDO South and SDO North zones.
High-grade, continuous gold-bearing shear zones have been identified in Paleozoic shales, siltstones and sandstones typical of the Puno Orogenic Gold Belt.
“This is the first time that the main shear zone at Usicayos is being drill tested following the consolidation of ownership of all the internal mining concessions and completion of the permitting process,” Andrew Thomson, president of Palamina, said in a statement.
The SDO zone is controlled by shear zones developed by regional thrusting, while the host shear zone at SDO is the widest identified at Usicayos to date, measuring roughly 1.5 kilometres in width and 2.2 kilometres in strike length.
It is expected that drilling will begin on platform VF01 in the SDO East zone, where some of the highest-grade surface sampling results have been observed, including 4 metres of 5.2 grams per ton gold from channel sampling.
Three of the seven planned drill platforms have been built, and the company plans to drill between one and two drill holes from each platform to build a three-dimensional geological model of the mineralized shear zone.
With headquarters in Toronto, Palamina is a gold exploration company with gold projects in the Puno Orogenic Gold Belt in southeastern Peru.
Shares of Palamina (TSXV:PA) are up 6.67 per cent to C$0.16 as of 10:27 am ET.
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