Palamina : Completes Drone Magnetic and Structural Studies in Preparation for Drilling at the Usicayos Gold Project

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has completed a drone-based magnetic survey over the entire 4.5 km long mineralized gold trend at its 100% owned Usicayos Gold Project in the department of Puno in south eastern Peru. The survey was carried out by Lima-based geophysical contractor Deep Sounding E.I.R.L and included generating a detailed Digital Terrain Model ("DTM") and acquiring an orthophoto to generate a new high-resolution topographic map. The company also completed a new structural interpretation of the Sol de Oro ("SDO") zone which confirms the main controls on surface mineralization

"The recently completed drone magnetic survey confirms that our priority drill target areas in the Sol de Oro zone coincide with magnetic anomalies, likely linked to pyrrhotite closely associated with gold mineralization. Structural mapping has confirmed that high grade gold values are spatially controlled by a continuous low angle shear zone, near the intersection with vertical conjugate faults. The uppermost manto seen in SDO East coincides with this flat shear zone. Our imminent drill program at the SDO East, SDO North and SDO South targets will test where the two structural trends intersect."commented Andrew Thomson, President of Palamina.

Deep Sounding completed 164 line kilometers of magnetic survey using a MagDrone R3 magnetometer. A detailed DTM was completed prior to the magnetic survey to ensure a constant 35 metre elevation above surface for the drone. Figure 1 shows the Total Field magnetic survey, and the location of the three Sol de Oro zones to be drilled by Palamina during 2024.