I look for this thing every time i'm in the area with my necro, ever since I killed it on a whim one time and got a 16.5 DPS 98% qua polearm drop. Since then i've gotten two other random polearm drops for it, all high quality.
I've noticed this is similar to the named corpse mold (Telsar) which drops 97-98% qua random leather. I don't know if its a pure coincidence that I got three polearms from palifan..maybe it has a change to drop any kind of weapon?