Galena Silver Copper Project

100% INTEREST
7,600 HECTARES TITLED & UNDER APPLICATION
DEPARTMENT OF PUNO, SOUTH-EASTERN PERU

Overview, Infrastructure & Geology

The Galena Silver Copper Project (formerly Lagos) was acquired through staking (starting in 2017) to cover a series of high grade silver copper veins in the historic Santa Rosa mine area on the south west end of the Santa Lucia district.  Palamina believes the historic Santa Rosa mine area has the potential to host a Ag-Cu Carbonate Replacement Deposit (‘CRD’). No drilling has ever been carried out within the Galena claims area. 

Galena is located 72 km southwest of the city of Juliaca in the department of Puno where Palamina has its regional field office.  During the rainy season Palamina carries out geological programs on its projects outside of the Puno Orogenic Gold Belt.

Nearby polymetallic mines include the Santa Bárbara, Santa Lucía, Berenguela and Tacaza mines. The Galena Project is located southeast of Kaizen Discovery Inc’s Cu-Au Pinaya project and southwest of Aftermath Silver Ltd’s Ag-Cu-Mn Berenguela project in the Santa Lucia District. Lagos sits at the juncture of the Santa Lucia mining district to the northeast and the Las Bambas copper trend to the northwest.

Pursuant to completing its initial geologic programs Palamina expanded it land position to include structures and other mineralized zones it deemed of interest. Palamina believes that small scale mining carried out to date serves as ground truthing for potentially more significant orebodies. Four distinct mineralized zones identified. The Rosa and Azul zones to the north host higher grade Ag-Cu veins, related to fault zones and hydrothermal breccias. The Gris and Verde zones to the south are being explored to potentially host broad zones of Cu-Ag mineralization, similar to the Cu oxide material found at surface. 

Sample Results

The historic Santa Rosa mine workings, located central to the property, occur adjacent to a north east trending road at the base of a ridge.  Mining at Santa Rosa dates back to Inca times and reportedly last took place in the 1980’s but was believed to have been shut down due to low silver and copper prices.  Select chip sampling from old mine workings, channel and dump area sampling returned values as high as 1,135 g/t silver, 5.2% copper and 30% lead as follows:

The Azul mineralized zones is also associated with northeast trending structures where small-scale mining has taken place.  Select rock chip sampling from old mine workings, channel and dump areas returned values as high as 584 g/t silver, 7.3% copper and 10.4% lead. The Gris and Verde zones host broad zones of Cu-Ag mineralization and are being investigated for their bulk tonnage potential. Select result are reported as follows  :

In late November of 2021 conducting a mapping / sampling program, short magnetometer survey and test Induced Polarization (IP) study before year end. Palamina is proceeding with more sampling and mapping, a pole-dipole IP survey and has commenced an FTA environmental study in order to permit up to 20 drill pads.

In December of 2021, Palamina carried out a channel sampling program in the Verde and Gris zones where outcrop is variable.  Select results from mineralized intervals returned results as follows:

 *True widths are not known. Assay values range from not detected up to those reported herein.

During the 2022 rainy season Palamina conducted further mapping and sampling, a pole dipole IP survey and an FTA environmental permit which allows for up to 20 drill pads.

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