Cori Gold Project
17,600 hectares titled & under application
Department of Puno, south-eastern Peru
Overview, Infrastructure & Geology
The Cori Gold Project has been acquired primarily through staking to cover a mountain range that sits south of the Inambari river that drains into the Madre de Dios basin. On the south side of the Corimayo mountain range over 3 km of strike of a mineralized gold trend is being mined by small-scale, artisanal and informal miners. Palamina has staked both the extensions to the east and the west and the north side of the Corimayo mountain range above the Inambari river. The dips of the known gold zones extend at depth towards the north side of the mountain range and alluvial miners have staked covering the Inambari river all the way to Madre de Dios.
Access to the Cori project is off the Trans-oceanic highway from the town of Macusani to Ayapata then to Wincumayo after which gravel roads are reduced to a single trail best suited to a 4 x 4 ATV. It takes about 8 hours to arrive to the town of Winchumayo when weather permits and both climatic and road conditions are good.
At Cori there are over 1,200 informal workers mining from surface along a 3km NE-SW trend on the south side of the Corimayo mountains. Miners are pursuing visible gold within quartz veins in at least 7 separate mining camps where native gold occurs in quartz within slates. Palamina does not believe any exploration drilling has taken place along the trend and is evaluating flying airborne geophysics to determine the nature of the lateral and depth extensions of the mineralized structure. Palamina will await the results from its planned airborne geophysical program at Gaban before it proceeds any further with Cori.
Focus on the POGB
The Puno Orogenic Gold Belt (POGB) covers approximately 175 km x 75 km on the eastern side of the Andes in south-eastern Peru. Known mineralized structures in the POGB extend up to 6 km in length with widths ranging from 0.2 m up to 2.0 m, within mantos up to 40 m in width. Palamina has secured the mining rights to 5 district scale land positions within the POGB where informal miners are actively mining visible gold. Palamina is actively exploring the Gaban and Coasa gold projects in order to identify suitable drill target areas to ultimately define economic gold resources while carrying out limited exploration programs on its Cori, Orco and Bendi gold projects.