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Portofino Resources Submits Final Proposals Regarding Arizaro Lithium Concessions-Salta, Argentina
Vancouver, British Columbia--(Newsfile Corp. - August 23, 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. - August 23, 2023) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTCQB: PFFOF) (FSE: POTA) (\"Portofino\" or the \"Company\") announces that it has submitted detailed proposals through a public tender process in Salta, Argentina, for two contiguous lithium concessions, sub-areas III and IV, within the highly coveted, Arizaro Salar (see Figure 1). The tender submission deadline has now lapsed, and while the Company's success in the process is not guaranteed, the initial, (official) feedback suggests that the Company's financial proposals are extremely competitive with other major lithium participants. Additional aspects of the tender submissions, including community impact, sustainability and community/regional benefits, are also being assessed by officials and results are anticipated to be announced in the second half of September. Figure 1: REMSa IX, Sub-Area III and IV In conjunction with the state-owned resource company in Salta, the Company previously carried out extensive geological due diligence on one of the two concession areas, referred to as Arizaro IV. Initial surface exploration work on this 8,445-hectare block has revealed a thick overburden (crust), however, samples at surface still assayed as high as 100 milligrams per litre (\"mg/l\") lithium, which is consistent with surface results of other groups exploring this mature salar. Additional exploration activity included: 40 +surface brine samples collected and analysed; 35 trenches reaching shallow water tables using excavation equipment; 69,000 metres (\"m\") of geophysical surveying utilizing Vertical Electric Soundings (\"VES\") technology revealing aquifer depths up to 1,000m; and Low resistivity horizons being identified and interpreted as brine targets potentially containing large concentrations of lithium (see Figure 2). Figure 2: Arizaro Project Distribution of resistive sections The VES results with the largest thickness in the low resistivity layer are anticipated to be the highest prospective areas of interest and are located to the east and south. The explored area shares geological characteristics with other areas in the same salt flat where brines with high lithium content have been detected at depth. Adjacent properties within the Arizaro salar, have been drilled to depths of more than 500 m, yielding prospecti...