• Palamina (PA) has returned 5.1 g/t gold over 4 m (surface) and 15.4 g/t gold over 2.7 m (underground) from its Usicayos Gold Project in Peru
  • The results stem from the second field program in the Sol de Oro Zone completed in December 2022
  • President and CEO Andrew Thomson spoke with Sabrina Cuthbert about the new gold results and future exploration
  • Palamina is active across nine gold projects as well as select silver and copper assets in Peru
  • Palamina (PA) is up by 5.88 per cent, trading at $0.09 per share

Palamina (PA) has returned 5.1 g/t gold over 4 m (surface) and 15.4 g/t gold over 2.7 m (underground).

The results stem from the second field program in the Sol de Oro Zone (SDO), completed in December 2022 at its Usicayos Gold Project in Peru.

The company has identified four mineralized gold systems at SDO that are structurally well-defined and continuous at surface, three at SDO South and one at SDO North. Sampling tested the continuity of gold mineralization across these systems.

The aforementioned results stem from SDO North. At SDO South, channel sampling returned a broader zone of 3.4 g/t gold over 14 m at surface and 23 g/t gold over 0.7 m underground.

President and CEO Andrew Thomson spoke with Sabrina Cuthbert about the new gold results and future exploration.

Usicayos features a 4.5 km mineralized gold trend made up of SDO SW, the central Cayos Zone and the NE Veta Zone.

Palamina has scheduled the Cayos and SDO zones for drill testing later this year. It is also planning further geological mapping and follow-up systematic underground sampling in April 2023. 

Select results from surface and underground channel samples at SDO N

ZONESAMPLETYPE LENGTH (m)Au (g/t)
SDO NSurfaceChannel              6.205.1
SDO NSurfaceChannel              2.003.0
SDO NSurfaceChannel            13.001.5
Including              6.002.1
SDO NSurfaceChannel              7.001.2
Including              1.004.4
SDO NUndergroundChannel              2.7015.4
SDO NUndergroundChannel              1.2014.5
SDO NUndergroundChannel              1.0010.9
SDO NUndergroundChannel              1.506.6
SDO NUndergroundChannel              1.006.4
SDO NUndergroundChannel              1.405.6
SDO NUndergroundChannel              2.204.8
SDO NUndergroundChannel              1.604.1
SDO NUndergroundChannel              1.003.3
SDO NUndergroundChannel              1.201.3
SDO NUndergroundChannel              1.001.1
SDO NUndergroundChannel              2.301.0​

Channel samples from SDO South (mineralization is in three separate structures)

SDO S

ZONESAMPLETYPE LENGTH (m)Au (g/t)
SDO SSurfaceChannel                1.09.7
SDO SSurfaceChannel                1.05.3
SDO SSurfaceChannel                 1.04.1
SDO SSurfaceChannel                 4.44.2
Including                 1.017.3
SDO SSurfaceChannel                 4.63.8
SDO SSurfaceChannel                 1.33.6
SDO SSurfaceChannel              14.03.4
SDO SSurfaceChannel                 4.03.1
SDO SSurfaceChannel                 2.02.6
SDO SSurfaceChannel                 2.52.1
SDO SSurfaceChannel                 4.42.2
SDO SSurfaceChannel              10.02.1
Including                 3.05.5
SDO SSurfaceChannel              12.51.6
Including                 4.44.2
SDO SSurfaceChannel                 3.31.5
SDO SSurfaceChannel                 3.01.3
SDO SSurfaceChannel                 1.41.3
SDO SSurfaceChannel                 1.01.1
SDO SSurfaceChannel                 2.50.9
SDO SSurfaceChannel                 2.50.9
SDO SUndergroundChannel                 0.723.0
SDO SUndergroundChannel                 0.75.5
SDO SUndergroundChannel                 2.54.9
SDO SUndergroundChannel                 0.92.7
SDO SUndergroundChannel                 1.51.5​

SDO SW

ZONESAMPLETYPE LENGTH (m)Au (g/t)
SDO SWSDO-SWChannel                 1.05.3
SDO SWSDO-SWChannel                 2.04.2
SDO SWSDO-SWChannel              10.31.6
Including                 1.212.7
SDO SWSDO-SWChannel              18.81.4
Including                 4.02.4
Including                 3.03.8

SDO SE

ZONESAMPLETYPE LENGTH (m)Au (g/t)
SDO SESurfaceChannel              16.02.0
Including                2.013.1
SDO SESurfaceChannel              21.11.1
Including                 4.02.1
SDO SESurfaceChannel                1.01.3
SDO SESurfaceChannel                2.01.0

Palamina is active across nine gold projects as well as select silver and copper assets in Peru. The company holds a 19.9-per-cent equity interest in Winshear Gold, which is advancing the Gaban Gold Project to the drill-discovery phase.

Palamina Corp. (PA) is up by 5.88 per cent, trading at $0.09 per share as of 9:43 am EST.


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