Palamina Corp. (PA:TSX.V; PLMNF:OTC.MKTS) announced that it has completed a 3,000 line-kilometer heli-borne geophysical survey over its Coasa, Gaban and Cori gold projects in Peru, and the collected data are currently being processed. The goal is to better understand the geological structures at these properties and identify areas for further exploration. "Palamina is the first company to conduct heli-borne geophysics in the Puno Orogenic Gold Belt," said President Andrew Thomson.
In other news, at the Gaban gold project, Palamina secured the mining rights to 85% of the Yanamayo River watershed, where stream sediment sampling returned gold values up to 4.9 grams per ton. The two samples came from historical artisanal workings along one of the shear zones on the recently acquired Aurifera concession. The company plans further sampling from this specific area to determine the extent of the mineralization there.
At the Bendi project, recent channel sampling from "a structure occurring as a part of a swarm of brecciated orogenic quartz veins," returned 1.8 meters of 13.4 grams per ton gold and 234 grams per ton silver, noted the company. Palamina intends to do additional geochemical rock-chip and channel sampling along the Carol and Mantos structures to delineate the extent of the gold and silver mineralization along strike to the northwest and southeast.
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