Tuesday, June 02, 2020 9:59:02 AM
2020-06-02 07:44 MT - News Release
Mr. David Tafel reports
PORTOFINO MOBILIZES CREW TO FOLLOW UP ON SULPHIDES DISCOVERIES SOUTH OF OTTER PROJECT, RED LAKE, ONTARIO
Portofino Resources Inc. has mobilized its exploration team to its South of Otter project. The team is at site now and is focusing on the recently discovered geophysical anomalies and outcrops of sulphide mineralization. The work program includes additional prospecting, detailed structural mapping, and outcrop channel sampling based on conductors identified in the Company's Geophysical ("VLF") survey (NR- May 14, 2020). The prospective targets delineated in the geophysical survey program occur along splays of the Pakwash-Longlegged Fault system within the Portofino claim boundary. This fault system is a major regional structure along the Confederation Lake assemblage and continues into the LP Fault Zone, hosting Great Bear Resources Ltd.'s ("GBR") Dixie Project.
An exploration plan and permit application has been submitted to the Ministry of Energy, Northern Development and Mines ("ENDM") regarding a significant trenching and drilling program to further delineate the gold bearing targets defined through the recent VLF survey and field work. The Company is currently conducting consultations with the local First Nations communities and government officials.
Portofino's CEO, David Tafel comments: "Due to the COVID-19 pandemic, and resulting restrictions on face-to-face meetings, ENDM permit applications have experienced issuance delays. We expect to receive a status update in the 2nd half of June. The Company, however, is able to continue low-impact exploration on our project to follow up on our encouraging geophysical survey results."
The 5,120 hectares (South of Otter) property is situated within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the world-renowned Red Lake gold deposits and includes the Dixie project currently being drilled by Great Bear Resources Ltd. GBR continues to report exciting drill results with mineralized intersections commonly returning bonanza gold grades in association with coarse visible gold grains. Portofino's property is located approximately 8 km east of GBR's claims.
The Portofino property contains excellent targets for both Red Lake-style gold mineralization as well as gold-bearing base metal prospects. Historical work on the claims included prospecting, sampling, limited drilling, and airborne magnetic geophysical surveys.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Alex Pleson, P. Geo., who is a member of the Association of Professional Geoscientists of Ontario and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Portofino Resources Inc.
Portofino is a Vancouver-based Canadian Company focused on acquiring, exploring and developing mineral resource projects in the Americas. Its South of Otter gold/base metal project is located in the historic gold mining district of Red Lake, Ontario proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd. In addition, Portofino recently acquired two northwestern Ontario gold projects; the Gold Creek property located near Thunder Bay, and the Sapawe West property located near Atikokan. The Company also maintains an interest in prospective lithium salar properties located within the world-renowned "Lithium Triangle" in Argentina.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
Recent POR News
- Portland General Electric Announces First Quarter 2024 Results • PR Newswire (US) • 04/26/2024 09:00:00 AM
- Portland General Electric declares dividend • PR Newswire (US) • 04/19/2024 10:00:00 PM
- Portland General Electric schedules earnings release and conference call for Friday, April 26 • PR Newswire (US) • 03/26/2024 10:00:00 PM
- Portland General Electric announces intent to join CAISO EDAM regional energy market to benefit customers, environment • PR Newswire (US) • 03/21/2024 06:50:00 PM
- PGE outlines progress and purpose in 2023 Environmental, Social and Governance report • PR Newswire (US) • 03/07/2024 12:18:00 AM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 03/06/2024 09:28:21 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 03/06/2024 09:10:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 09:24:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 05:19:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 05:15:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 05:12:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 05:04:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 04:57:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:11:16 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/20/2024 02:00:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:34:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:28:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:21:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:14:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:12:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:07:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 06:00:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 01:58:46 PM
- U.S. Futures Display Volatility Amid Economic Data Anticipation, Oil Prices Decline • IH Market News • 02/16/2024 11:09:43 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM