Business
Portofino Resources Expands Pre-Drilling Exploration; Receives Confirmation of Yergo Ownership; Corporate Updates
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2023) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) ("Portofino" or the "Company"
About this update from Latam Lithium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 1, 2023) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) (\"Portofino\" or the \"Company\") announces that further to its News Release September 26, 2023, it has received confirmation from the Catamarca Province Ministry of Mining that as at October 31, 100% of the Yergo lithium concessions have been registered in Portofino's name. Portofino's geological team is immediately proceeding to file its technical response to a previously received information request from the Ministry as part of an amended drill permit application. In addition, Portofino's team has identified opportunities to expand upon previously identified geological surface and subsurface targets. A pre-drilling program has been designed to extend both the previous surface sampling and geophysical surveying programs. Geophysical surveying equipment capable of identifying potential lithium-bearing aquifers to depths of 500-600 meters will be utilized, where the previous survey program utilized technology capable of testing only to levels of approximately 100 meters. Both pre-drilling exploration programs are intended to commence in November. Figure 1: Yergo Project, encompassing the Aparejos Salar showing proposed geophysical survey David Tafel, CEO of Portofino, commented: \"Although our previous surface sampling results completed in 2021 were very successful, the program was completed during an unusually wet period, potentially diluting the brine samples. Our technical team believes sampling during this current dry season should be more representative of actual (higher) surface grades. Additionally, our team believes utilization of the upgraded geophysical VES survey equipment could dramatically expand the size of the underlying brine aquifers.\" Yergo Lithium Project, Catamarca Argentina The Project is 2,932 hectares in size, controlling the entire Aparejos Salar, located approximately 9 kilometers from the Salar Tres Quebradas (the \"3Q Project\"), previously developed by NeoLithium Corp., and acquired by Zijin Mining for C$960 million in 2022 (see: Zijin - 3Q Project) Portofino previously completed and reported results of a geophysical survey identifying 2 large, aquifers within the project measuring approximately 2.3km x 1km and 1.8km x 2.5km (POR News Release 06-APR-2021). The Comp...