- Portofino Resources Inc. (POR) provides drilling update on the Gold Creek Project
- There have been approximately 800 meters drilled with visible gold intersected in hole four
- The Phase 1 drill program tested targets at the ‘New Road Zone’ and ‘S1 Zone’
- Portofino is a Canadian company focused on exploring and developing mineral resource projects in the Americas
- Portofino Resources Inc. (POR) is down 6.67 per cent and is trading at C$0.14 at 12:24 pm ET
Portofino Resources (POR) is pleased to provide a drilling update on the Gold Creek Project located 65 kilometres west of Thunder Bay, Ontario.
Portofino reports that a total of 798 meters of diamond drilling has been completed through four holes.
The Phase 1 drill program tested targets at the ‘New Road Zone’ and ‘S1 Zone’ where 2020 fall sampling programs confirmed the presence of anomalous to high-grade gold in grab samples.
Two holes were completed at each zone.
“We are very pleased to have completed our initial drill program on the Gold Creek Property and are excited about the overall results of this program, notwithstanding the intersection of visible gold in hole 4,” said David Tafel, CEO of Portofino.
“Our crew will revisit Gold Creek after receipt of core assay results as we have several additional drill targets to test once the ground conditions dry up,” added Tafel.
Hole GC-2021-01 was drilled at the ‘New Road Zone’.
It was designed to target the 2020 surface grab sample of 4.07 grams/tonne (“g/t”) Au, investigate the Crayfish Creek Fault zone with a historical grab sample of 6.51 g/t Au, target the anomaly outlined in a 2007 IP survey and investigate the nature and significance of a high magnetic feature.
Schistose mafic volcanics were intersected at the Crayfish Creek Fault Zone. The hole ended in iron formation, explaining the high magnetic signature.
Hole GC-2021-02 was also drilled at the ‘New Road Zone’.
This hole was field fitted and redesigned to intersect altered felsic intrusive uncovered while making the drill road, investigate the Crayfish Creek Fault zone with a historical grab sample of 6.51 g/t Au, target the 2020 surface grab sample of 4.07 g/t Au and investigate the anomaly from the 2007 IP survey.
A wide hematized feldspar porphyry dyke was intersected from 26.65m to 37.74m (11.09m), with minor pyrite and quartz stringers.
Locally strongly bleached gabbro was intersected from 55.2m to 62.7m (7.5m), with 0.5-1% pyrite overall, locally up to 3-4 per cent.
Hole GC-2021-03 was drilled at the S1 Zone.
It was designed to target a historical grab sample of 55 g/t Au and a grab sample from the 2020 fall sampling program, which assayed 5.12 g/t Au collected from a quartz monzonite with quartz veining and disseminated pyrite.
Hole GC-2021-04 was also drilled at the S1 Zone.
It was designed to target a historical grab sample of 175 g/t Au and a grab sample from the 2020 fall sampling program, which assayed 1.13 g/t Au collected from a quartz monzonite with quartz veining and disseminated pyrite.
Further intersections of bleached gabbro with blebby and disseminated pyrite were intersected proximal to the Crayfish Creek Fault.
Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas.
Portofino Resources Inc. (POR) is down 6.67 per cent and is trading at C$0.14 at 12:24 pm ET.