The fossil-bearing locality of Palazzo is a _ Lagerstätte_ datable to the Santonian period (Upper Cretaceous). Excavations on the site, situated on the edge of the village of Polazzo, began in 1996. The site is formed by an outcrop of calcareous layers of limited extension relating to the “calcari di Aurisina”. The attitude is 290°, the average direction of dip is 24°.
From a lithological and sedimentological point of view, this type of limestone is generally densely laminated, usually light in colour (grey or tan), with tabular geometry and lamination that is sometimes disturbed (ripple marks) at the time of deposition, sometimes by tectonic movement. Also present are levels of micro-breccia.

The particular association of fossils present and its state of preservation indicate the existence of a favourable environment for the fossilisation of organic remains, which are usually destroyed by taphonomic processes. The excavation area measured approximately 50 m2 and the stratigraphic section was about 100 cm deep. The section was divided into six main layers, then and divided into sub-layers.

To date, 1235 finds have been recovered from the excavation. The fossils are represented by th skeletal remains, mostly incomplete, but very well-preserved, of bony fish (Osteichtheyes) Neopterygii and plants (conifers and dicotyledonae). The Teleostei are dominant among the Neopterygii. The finds included important examples of Alepisauriforme Rhynchodercetis (inside two examples the prey was preserved), Beryciformes (basal Percomorphs, of interest with regard to evolution), Pycnodontes (basal neopterygii), and numerous small teleostei of uncertain affinity (_Cypriniformes_ ?). Even a tooth from a crocodylomorph notosuchus was found.

This year’s excavation recovered 26 finds from layers 2, 3, and 4. All were from fish still largely covered with rock and therefore impossible to identify with any certainty, a part from the characteristic Pycnodontes (probably all of the Polazzodus coronatus species) and some small _ Beryciformes_, and a large undetermined teleosteo.

In 2012, a new sector was opened, as the characteristics of the rock in the sector investigated last year were not suitable for the fossilization of organisms and their discovery. The new sector was moderately fossil-bearing and to date an area of approximately 12 m2 and 40 cm in depth has been excavated. Not all the surfaces of the layers were fissile, as they had been heavily altered by root growth, karstification, and calcite intrusions, which had compromised their characteristics. However, there were some zones where the layers, in particular 2, 3, and 4, were well-preserved, although little fauna was present in them.