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Portofino Resources Receives Airborne Geophysical Survey Covering the South of Otter Project, Red Lake Ontario; Identifies Drill Targets
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2020) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POTA) ("Portofino" or the "Company") is pleased to
About this update from Latam Lithium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 14, 2020) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POTA) (\"Portofino\" or the \"Company\") is pleased to announce it has received the final deliverable maps for the high-resolution airborne magnetic survey covering the Company's South of Otter Project in the Red Lake gold camp, Ontario (the \"Project\" or \"Property\"). The survey has identified several structural and magnetic features that when merged with recent trenching, sampling and surface mapping, as well as historical work have enabled the Portofino technical team to prioritize targets for follow-on sampling and an initial stage drilling program. Several magnetic features have been outlined by the airborne survey that merit follow-up exploration. Of primary interest is the continuous band or belt of highly magnetic responses shown as bright orange to red to purple lineations (Figure 1). These responses trace an interpreted axis of a major east-west regional fold that curves across the northern half of the claim block, a distance of approximately 9.7 kilometres ('km\") and could reflect bedrock enriched in magnetic minerals such as pyrrhotite and magnetite. The Company believes that this sort of magnetic response may be indicative of banded iron formation, often a significant host for gold deposits. In the north central part of the Property, the magnetic bands are bent about and disrupted by an intriguing magnetic low anomaly that our team identified in our 2020 mapping, sampling and trenching programs as felsic intrusive units. As reported on August 26, 2020, the Company discovered a previously unidentified sulfide outcropping area (now referred to as the Cliff zone) and recovered grab samples assaying from nil to 16.0 grams per tonne (\"g/t\") gold. Based on the high-grade gold grab samples and mapping, Portofino has developed a primary target area for a follow-up diamond drilling program. (Grab samples are selective by nature and may not to be representative of average grades.) A second area of interest measures approximately 3.5km by 1.5km and is located within the northeast arm of the claim group where limited historical exploration work has been recorded. The magnetic bands of the second target area appear to \"horsetail\" reflecting a complex of highly folded host rocks. Portofino intends to conduct a ful...