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Palamina Corp.

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Summary

Project:

Coasa

Deposit:Coasa
Location:Peru
Commodities:Gold
Date:1/8/2019
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:8-1-2019: Palamina Corp. announces an Exploration/Drilling Update report for its Coasa deposit at the Coasa project. Summary of property and recommendations for follow-up exploration. Palamina S.A.C (Palamina) began staking the Coasa Property (Property) i
Resources:x
CP/QP:[Overall Report]: David Seers (Mining Plus Consulting Pty Ltd.)
ABSTRACT:Palamina S.A.C (Palamina) began staking the Coasa Property (Property) in January 2017, the Property currently consists of 20 contiguous mining concessions and concession applications, totalling 17,200 hectares, in the Puno region of southern Peru. The Property is greenfield, its short exploration history includes, grab and channel sampling as well as geological mapping. Small-scale artisanal miners have been found to be active near the Property. The independent Pacacorral (Crucero) Project, owned by Gold Mining Inc., which hosts a reported 1.0 Moz Au Indicated Mineral Resource and 1.03 Moz Au Inferred Mineral Resource lies approximately 3 km south of the Property boundary. Having physically prospected/explored approximately 60% of the Property, Palamina identified nine prospects with quartz veining hosted in fine-grained siliclastic sediments and varying levels of Au and pathfinder (As) anomalism. The Veta prospect is particularly anomalous in Au and As; this anomalism occurs with quartz veining and is spatially related to a northeast trending strike slip-fault. Anomalism extends over 1.6 km and remains open, within the Property, to the northeast. Grab sample 2696, taken from the Veta prospect generated a peak Au grade of 620 ppm Au (Palamina News 2).

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