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Gold Explorer Expands Land Position at Peru Project

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This company advances work toward making a significant gold discovery.

Palamina Corp. (PA:TSX.V; PLMNF:OTC.MKTS) has finished additional staking to boost its application and mining exploration rights to 18,900 hectares in the Bendi gold project in southern Peru. "Palamina continues to focus on acquiring and securing exploration mining rights to district-scale gold projects within the Puno Orogenic Gold Belt with a view to 'shadow of headframe' exploration where no headframe exists," said President Andrew Thomson, adding that the ultimate goal is "making a major gold discovery."

The company concentrated its efforts on the Mantos and Carol gold anomalies that are associated with district-scale structures and that it had identified via field work.

Mantos is 150 meters long by 50 meters wide and is open ended. It is associated with a "greater than 7 kilometer-long, thrust-related shear zone occurring subparallel to the Benditani mine structure," the news release indicated. Chip samples from Mantos showed gold grades of 25.4 and 9.9 grams per ton. The primary target of mineralization at Mantos appears to host quartz veins and veinlets.

Carol is 2.5 kilometers long by up to 30 meters wide and also is open ended. It is located along a "greater than 15 kilometer-long, subparallel northwest striking structural corridor developed in the core of an anticline," per the news release. Chip samples from Carol returned 4 meters grading 0.25 grams per ton gold.

To follow up, Palamina is conducting further geochemical rock channel sampling, results of which are anticipated around mid-August.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Palamina Corp. Click here for important disclosures about sponsor fees.
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