Business
Portofino Acquires Additional Claim Block Contiguous to Gold Creek Property; Announces Airborne Geophysical Survey Underway on Expanded Gold Creek Property
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - PORTOFINO RESOURCES INC. ...
About this update from Latam Lithium Corp
[{"type":"text","content":"Portofino Acquires Additional Claim Block Contiguous to Gold Creek Property; Announces Airborne Geophysical Survey Underway on Expanded Gold Creek PropertyNew claims include historical drill intercept of 4.32 g/t gold over 41 metres and a 1-tonne bulk sample returned an average grade of 9.9 g/t goldVancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POTA) (\"Portofino\" or the \"Company\") is pleased to announce the acquisition of a block of 5 mining claims totalling 105 hectares (\"ha\") contiguous to its current eastern Gold Creek Property boundary (the \"New Claims\"). The acquisition expands its Gold Creek Property to 4,023 ha. The New Claims cover several gold showings with historical drill intercepts of 4.32 grams/tonne (\"g/t\") gold over 41 metres (\"m\") and 4.36 g/t gold over 20.42m completed by Landore Resources Inc. in 1995 on an occurrence called the \"I-Zone\". Additionally, Mengold Resources Inc. completed a 1 tonne bulk sample on the I-Zone in 2008 returning an average grade of 9.9 g/t gold. Figure 1: Eastern Portion of Gold Creek PropertyTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3751/62877_6c8e21eb6498bbb2_001full.jpgThe I‐Zone and adjacent areas occur within a series of argillaceous banded iron formations (\"BIF\"). The BIF are fine grained, rhythmically layered and banded by magnetite-rich, chert, jasper and lean magnetite argillaceous bands. There are some occurrences of fine clastic sediment interlayers within the BIF. Thicknesses of the BIF sequence are up to 100's of metres and may be also interfingered with the mafic volcanics and tuffs. The strike of the sequence is to the east-south-east, paralleling the Crayfish Creek fault zone.The I-Zone Gold Occurrence consists of a series of felsic dikes that intruded into the BIF. The dikes commonly have widths of 4.5m and host to a series of relatively densely spaced gold-bearing quartz-tension/ladder veins containing 3% - 5% pyrite and occasionally coarse visible gold. Sampling of the veins by Mengold Resources returned assays ranging from 0.07 g/t gold to 6.46 g/t gold. Structural features and controls on gold mineralization at this prospect (i.e. northerly trending extensional vein systems) appear to be very similar to the AF Trench zone (see...