Opinion Independent Reports Gold Explorer Reports 'Best Channel Sample...

Gold Explorer Reports 'Best Channel Sample to Date' at Peru Project

Streetwise Reports, Streetwise Reports

0 Comments| October 9, 2018

Cumulative sampling reveals high-grade gold mineralization in two adjacent zones.

Palamina Corp. (PA:TSX.V; PLMNF:OTC.MKTS) announced the Cayos zone, at its southeastern Peru project, returned 3 meters (3m) of 30.5 grams per ton (30.5 g/t) gold, "which represents the company's best channel sample to date at Coasa," President Andrew Thomson said in a news release.

Six samples were taken from a 200-by-300m area of the Cayos zone. They consisted of "two composites from small informal mining adits, two continuous channel and two selective rock-chip samples," noted the release. The composite samples returned 16.5 g/t and 9.8 g/t gold.

Palamina pursued the Cayos sampling after its Veta zone, located 1.5 kilometers north, revealed four gold zones. Chip sampling from an 800-by-500m swath at Veta returned up to 620 g/t gold, and channel sampling showed up to 1.8m of 19.6 g/t gold.

"The Veta and Cayos gold zones have both returned significant gold grades from quartz veins, and channel sampling has also confirmed significant gold mineralization within the slate and siltstone host rocks on both," according to the release.

Pending results from the geophysical study will help Palamina determine the interplay between Cayos and Veta, and better understand the geological structures at Coasa overall.

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