Toronto miner closer to start drilling at Peruvian project
Toronto-based Palamina Corp. (TSXV: PA) took one step forward regarding its 100%-owned Coasa gold project by submitting, this week, an Environmental Impact Declaration (DIA in Spanish) to the Peruvian Ministry of Energy and Mines. Such a declaration is the primary environmental permit required prior to drilling.
The 17,200-hectare Coasa project is located in the Puno region of southeastern Peru and covers the town of Usicayos. It lies midway between the Ollachea and La Rinconada deposits, which are focused along a structurally deformed east-west trending jog-zone, part of a larger regional shear-zone.
In a press release, Palamina said that it has outlined an initial 3,000-metre drill program to test the Veta and Phusca Zones.
"Once approved the DIA will enable Palamina to excavate trenches and complete up to 40 drilling platforms," the company's President, Andrew Thomson, said in the media brief.
The firm expects the environmental permit to be issued by late May and to cover 15 platforms and an initial 2,500 metres of drilling planned at Veta and five platforms and 500 metres of drilling planned at Phusca.
"DIA permits allow for 40 drill platforms leaving Palamina 20 for future use. Final drill target selection will be made following the conclusion of further geological mapping, trenching and prospecting expected to recommence by the end of April," Thompson said.