Lagos Silver Copper Project
7,700 HECTARES TITLED & UNDER APPLICATION
DEPARTMENT OF PUNO, SOUTH-EASTERN PERU
Overview, Infrastructure & Geology
The Lagos Silver Copper Project was acquired through staking to cover 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 has received title to 1,700 hectares with an additional 6,200 hectares under application. Lagos 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. Palamina’s Lagos Project is located 4.5 km southwest of Miramont Resources Corp’s (MONT:TSX.V) Cerro Hermoso Project within the same structural trend.
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 similar to those being explored for by Miramont at the Cerro Hermoso Project. Miramont has undertaken a second drill campaign to better understand mineralization encountered in the Central Breccia.
In the first four months of 2019, Palamina carried out two mapping and sampling programs at Lagos. A total of 102 samples from 4 separate mineralized zones were sent in for analysis. Palamina conducted follow-up staking to cover the Azul Zone and extensions to the Gris and Verde Zones based on its observations.
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 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, Gris and Verde mineralized zones are all 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 as follows:
The mineralization identified to-date is related to fault structures and fractures with a NE-SW orientation located at the southwest end of the Santa Lucia district. Follow-up sampling and mapping is being carried out to better understand the relationship of the four mineralized zones identified to-date and the potential for a significant high-grade Ag-Cu mineralisation.