Securing and advancing district scale gold projects driving Peru’s modern day gold rush
Palamina Corp. (PA: TSX-V) has secured 5 district scale gold projects in south-eastern Peru in the Puno Orogenic Gold Belt. Palamina’s Peruvian based exploration team have a cumulative 35 years’ experience in the POGB and are supported by a board of directors and advisors who are proven mine finders, deal makers and financiers.
The modern day gold rush underway in south-eastern Peru expands every year. In 2017, at 155 metric tonnes per annum, Peru was #6 in the world for reported gold production. Alluvial gold mining operations in the jungles of Madre de Dios and in the high Andes at San Antonio de Poto (an alluvial mining operation below La Rinconada which occurs above 5,000 m elevation), extend over 700 square kilometres and host >70,000 informal miners where reported illegal mining figures represent >28% of Peru’s annual gold production. The POGB is one of the worlds least formally explored orogenic gold belts. Palamina’s five district scale gold projects have previously been partially ground-truthed by artisanal, small-scale and informal miners who are generally limited to mining gold from the top 50–100 metres below surface. Mineralized orogenic systems extend downwards to over 1,000 metre depth. Palamina intends to drive shareholder value through discovery.
The Puno Orogenic Gold Belt (POGB) covers approximately 175 kilometres by 75 kilometres 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 mining concessions within the POGB. Palamina is actively exploring the Gaban and Coasa gold projects while carrying out limited exploration programs on its Cori, Orco and Bendi gold projects.