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Palamina Corp Secures DIA for Initial Drill Testing of the Coasa Gold Discovery in Peru

Mining News - Published on Wed, 15 Jan 2020

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Palamina Corp has secured a Declaración de Impacto Ambiental from the Peruvian Ministry of Energy and Mines for its Coasa Gold Project in the Puno region of Peru. The DIA allows for the construction of up to 40 drill pads at Coasa. With the DIA in hand, the Company has applied for the Authorization to Initiate Exploration Activities which is required to commence initial drill testing of the Coasa gold system.

Andrew Thomson, President of Palamina stated, "Palamina is one of a few pure gold exploration companies active in Peru with clear mineral title and a DIA approving up to 40 drill pads to test targets on its flagship Coasa gold project. Plans for an initial 2,500 m drill program focussed on testing below high-grade surface mineralization in the Veta Zone are being finalized. The Veta and Cayos discoveries, which combine to extend along 1.6 kilometres (see Figure 1 below), have never been drill tested and remain open at surface to the NE and SW."

Based on recent favourable prospecting results and supporting surface assay results, Palamina may seek to modify and/or expand the DIA to provide for initial drill testing of the Cayos Zone as well.

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Posted By : Rabi Wangkhem on Wed, 15 Jan 2020
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