/ˈpalɪəʊ,ˈpeɪlɪəʊ/
Prefix
1. Ancient, early, prehistoric, primitive. (etymonline.com)
2. Older or ancient, especially relating to the geological past. (Google Dictionary)
Word origin: Before vowels pale– word-forming element used in scientific combinations (mostly since c.1870), from Greek palaio-, comb. form of palaios “old, ancient,” from palai “long ago, far back,” related to palin “again, backwards,” tele– “far off, at a distance.”