Welcome to our dedicated page for Palamina news (Ticker: PLMNF), a resource for investors and traders seeking the latest updates and insights on Palamina stock.
Palamina Corp. (OTCQB: PLMNF) news covers the company’s ongoing exploration activities in Peru, particularly its land bank of gold projects in the Puno Orogenic Gold Belt and its copper-silver and silver-copper-manganese projects in southeastern and northeastern Peru. Company releases highlight work programs, technical results and project-level decisions that shape the exploration story.
Recent news has focused on drill and sampling results at the Usicayos gold project, where Palamina reports broad zones of gold mineralization in the Sol de Oro North and South zones and high-grade channel sampling results in the Cayos zone. Updates describe how new shear zones, structural interpretations and follow-up drilling plans are being used to refine targets and advance the project.
Palamina also issues regular updates on the Galena Silver Copper Manganese Project in the Santa Lucia district. News items describe remote sensing surveys, portable XRF soil sampling, manganese, silver and copper anomalies, and planned gravity surveys aimed at identifying Carbonate Replacement Deposit style mineralization. Additional releases discuss the acquisition of the Esperanza concession adjacent to the Berenguela deposit and the status of the Gaban Gold and Ica Copper-Gold projects, including transfers of ownership and historical drilling and geophysical work.
Investors following PLMNF news can use this page to review Palamina’s exploration results, project acquisitions, property transfers and corporate updates as disclosed in its public news releases.
Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has completed a drone-based magnetic survey over the 4.5 km long mineralized gold trend at its Usicayos Gold Project in Peru. The survey, conducted by Deep Sounding E.I.R.L, included a detailed Digital Terrain Model and orthophoto for high-resolution topography. A new structural interpretation of the Sol de Oro (SDO) zone confirms main controls on surface mineralization.
The magnetic survey reveals that priority drill targets in the SDO zone align with magnetic anomalies, likely linked to pyrrhotite associated with gold mineralization. Structural mapping shows high-grade gold values are controlled by a continuous low-angle shear zone intersecting vertical conjugate faults. Palamina plans to drill the SDO East, North, and South targets where these structural trends intersect.
The company has completed its camp in the SDO zone, with drilling expected to begin by month's end. This preparation positions Palamina to advance its exploration efforts at the Usicayos Gold Project.
On June 10, 2024, Palamina Corp. (TSXV: PA, OTCQB: PLMNF) announced that it has signed a Share Purchase Agreement to acquire 100% of Sociedad Minera Vicus Exploraciones S.A.C. from Aurania Resources for 350,000 Palamina common shares and a 1% Net Smelter Return (NSR) royalty, with an option to buy back half the NSR for $1,000,000. This acquisition includes the Pluma sediment-hosted copper silver project in northeastern Peru, covering 9,800 hectares. The deal is expected to close by the end of June. Palamina aims to enhance its portfolio in Peru's copper silver sector and remains focused on its Usicayos gold project. The Pluma project is adjacent to Hannan Metals 's San Martin Copper Silver Project. Hannan plans a 2,000m drill program in 2024, enhancing the area's potential as a significant copper silver district. This transaction aligns with Palamina's strategy to secure valuable mining assets in Peru, offering shareholders exposure to promising mineral prospects.
Palamina Corp. has announced initial assay results from its 2024 field campaign at the Sol de Oro (SDO) Zone of its 100% owned Usicayos Gold Project in southeastern Peru. The SDO Zone is part of a 4.5 km long mineralized orogenic gold trend. Highlights include 26.67 g/t gold over 2 meters. Four mineralized target areas have been identified within SDO, with 15% of 169 channel samples yielding grades above 1 g/t Au. Significant geochemical and structural studies have been completed, with a 3,000-meter drilling program set to start in early July 2024.
Palamina is using metallic screening methodology for more accurate gold quantification. Initial drilling will focus on SDO N, where high-grade gold has been identified. A drone survey over the entire 4.5 km trend is underway to further define drill targets.
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