Palamina Magnetic + Gravity Surveys Identifies near Surface Drill Targets at the Galena Silver Copper Project
Palamina’s Galena Surveys map the path to fall drilling, but dilution and spin-out execution remain key risks.
Palamina Corp. released results from ground magnetic and gravity surveys conducted in April 2026 at its Galena silver-copper project in Peru. The surveys covered 112.53 line-kilometres of magnetic data and 1,119 gravimetric readings across the Rosa, Gris, and Azul zones.
Findings indicate the Ayabacas Formation, which hosts carbonate replacement deposits, may lie near surface within uplifted fault blocks, with bounding faults acting as potential hydrothermal fluid conduits. Two mineralized anomalies were identified in the Gris Zone, measuring approximately 750m x 500m and 600m x 500m.
Soil sampling in Q2 2026 yielded over 800 samples between the Santa Rosa and Azul zones, analyzed via portable XRF. Drill permitting is underway, with drilling expected to commence in early fall 2026.
The company is simultaneously seeking shareholder approval to spin out its subsidiary, Colt Silver Corp., as a standalone public company.
Palamina Corp. (PA) released survey results that align with previous exploration updates, including December 2025 XRF sampling and August 2025 soil sampling, which identified large-scale Ag-Cu-Mn anomalies. The identification of structural controls and near-surface targets validates the company's exploration model, though these findings do not constitute a drill result or economic discovery.
The spin-out approval request serves as a procedural follow-up to the February 2026 announcement and the April 2026 financing completion. This development is expected and routine, introducing no material change to the company's financial position or near-term catalysts. The company’s focus remains on executing the spin-out and initiating drilling in Q3/Q4 2026.
Palamina Corp. is a Canadian exploration company focused on precious and base metals in Peru. The company is undergoing a corporate restructuring to spin out its silver-copper assets into Colt Silver Corp., while retaining its gold projects in the Puno Orogenic Gold Belt (POGB).
The company’s flagship gold project is the Usicayos Gold Project, which holds an indicated resource of 42.7 Mt @ 1.26 g/t Au and an inferred resource of 39.9 Mt @ 0.93 g/t Au. The site is permitted for drilling.
The flagship silver-copper asset is the Galena Silver-Copper-Manganese Project. It targets carbonate replacement deposits (CRD) with historic high-grade surface samples reaching up to 1,135 g/t Ag and 7.1% Cu. The project is moving into the drill discovery phase. Other Colt assets include the Esperanza, Volcano, Sora, Cristel, Ica, and Pluma projects.