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  • Portofino (POR) files drill permit application for its yergo Lithium Project-Catamarca, Argentina
  • The survey identified two large, anomalous sub-basins within the Aparejos Salar
  • Phase 1 drill testing of the Project will enable initial evaluation of the volume and the lithium content
  • The Project is situated 15 kilometers southeast of Neo Lithium Corp’s advanced 3Q Project
  • Portofino Resources Inc. (POR) is down 4.17 per cent and is trading at C$0.12 at 11:32 am ET

Portofino Resources Inc. (POR) has filed an application with the Provincial Mining Ministry of Catamarca for a drilling permit.

The drilling permit is pursuant to implementing an inaugural drill program on the Aparejos Salar in its 100 per cent controlled Yergo Lithium Project in Argentina.

A recently completed geophysical survey and surface geochemical sampling program were successfully completed at the Project.

The survey identified two large, anomalous sub-basins within the Aparejos Salar.

The survey and sampling results confirm the presence of lithium-rich brines and the potential volume of the brines within the Project and have provided Portofino’s geological team with the confidence to proceed to the drilling stage.

Phase 1 drill testing of the Project will enable initial evaluation of the volume and the lithium content of the brines and sediments within the identified zones. Definitive drill target locations are being finalized.

Portofino has the right to earn a 100 per cent interest in the 2,932 hectares Yergo Project which encompasses the entire Aparejos Salar and is located in the southern part of Argentina’s world-renowned “Lithium Triangle”.

The project is situated 15 kilometres southeast of Neo Lithium Corp’s advanced 3Q Project.

Given the proximity of the 3Q Project, it is likely that the Aparejos Salar has a similar geological history, including lithium enrichment, due to their common evaporitic climate and local geology.

Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas.

Its South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ontario, Canada proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd. 

Portofino Resources Inc. (POR) is down 4.17 per cent and is trading at C$0.12 at 11:32 am ET.

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