Palamina Corp. announced received additional assay results from two additional 2022 geochemical and hand trenching programs and has consolidated and increased its land package at its Galena Silver Copper Project in SE Peru.Galena sits at the juncture of the Santa Lucia mining district to the northeast and within what is referred to locally as the Las Bambas copper trend to the northwest. In April of 2022, Palamina staked an additional 4,800 hectares based on recommendations from a desktop study of the Santa Lucia district produced by Earthlabs Inc. (formerly GoldSpot Discoveries Corp.) and in July 2022 concluded the acquisition of 100% of two internal titled claims, Gaspar and Chaparro, covering known mineralization that was historically explored by limited tunneling. Palamina now holds 100% interest to 12,830 hectares at the Galena Silver Copper Project. No drilling has ever been carried out within the area of the Galena concessions.
Palamina believes the historic Santa Rosa mine area in the Rosa Zone and the Gris Zone have the potential to host a Ag-Cu Carbonate Replacement Deposit (‘CRD’) similar to others within the Santa Lucia mining district. A total of 361 samples were collected in the second and third quarter of 2022 in the Rosa and Gris Zones to better define and understand a possible northeast structural trend through mapping and geochemical sampling. Maps follow that include rock, chip and soil sampling locations. Five select samples from each zone from the most recent sampling campaigns follow:
“Over the summer Palamina carried out additional staking and acquired two internal titled claims in order to consolidate the Galena land position in the Santa Lucia district. Results from these and additional mapping sampling programs will be followed up with further IP surveys in order to identify drill targets within the Rosa and Gris Zones NE trend. As the need for battery metals increases, high grade silver copper projects with low capital expenditures to reach production will gain in value. Palamina is advancing the Galena silver copper prospect to meet that demand.” commented Andrew Thomson, President of Palamina.
In the Rosa Zone, mapping, rock sampling and soil geochemical sampling was carried out at the Santa Rosa mine, in the Rosita area 0.4 km’s to the north and the Mina Rosita Huayrapata area 3 km further to the northwest. In the Gris Zone, Palamina carried out sampling of an argentiferous breccia in the newly acquired historic Chapparo mine area and north west of the historic Gaspar mine. Location maps with select historic and newly sampled silver and copper assay results follow:
At Galena, Palamina geologists are pursuing epithermal, structurally-controlled mineralization expecting that it may lead to the discovery of a polymetallic carbonate-replacement deposit (“CRD”) similar to the CRD deposits mined in the Santa Lucia District north of Lake Lagunillas. Galena is located south of Lake Lagunillas.
Palamina is conducting further mapping and sampling in the Rosa, Rosita and Huayrapata areas that make up the Rosa Zone. Further Induced Polarization surveys are planned. Palamina has elected to suspend its FTA permit application at Galena until such time the mines department improves its processing times.
(Source: Press Releases – www.palamina.com/news/2022/9/13/palamina-reports-exploration-results-amp-land-consolidation-at-its-galena-silver-copper-project)
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