- Portofino Resources (POR) has identified a series of new priority targets for its upcoming drill program at the South of Otter project in Ontario
- The new targets include a continuous band or belt of highly magnetic responses, which stretches 9.7 kilometres along the property
- The company believes the band could indicate a bedrock enriched in magnetic minerals such as pyrrhotite and magnetite, which are known to host gold deposits
- Another target has been identified at the northeast end of the property, which stretches 3.5 kilometres by 1.5 kilometres in an area that has seen little historical exploration in the past
- Portofino Resources (POR) remains unchanged and is trading at C$0.10 per share
Portofino Resources (POR) has identified a series of new targets for its upcoming drill program at the South of Otter project in Ontario.
The company identified the targets after receiving high-resolution airborne magnetic surveys recently conducted on the property and merging those with existing trenching, sampling and surface mapping work.
The new targets include a continuous band or belt of highly magnetic responses, which stretches 9.7 kilometres along the property. The company believes the band could indicate a bedrock enriched in magnetic minerals such as pyrrhotite and magnetite, which are known to host gold deposits.
As the magnetic bands reach the north of the property, the airborne survey identified a magnetic low anomaly where the company previously retrieved grab samples assaying from nil to 16 grams per tonne gold.
Another target has been identified at the northeast end of the property, which stretches 3.5 kilometres by 1.5 kilometres in an area that has seen little historical exploration in the past.
Portofino CEO David Tafel said the use of high-resolution airborne magnetic survey was proving to be an effective tool in advancing our properties.
“Like our Gold Creek Project, the South of Otter claims cover a huge area of highly prospective gold targets. The airborne survey is enabling us to select drill and follow-up targets in a time-effective manner. As previously announced, a drilling permit has been granted and we intend to commence a drilling campaign this fall,” he added.
Looking forward, the company expects schedule the upcoming drill program once the particulars are finalised and will begin by testing targets in the north central part of the property.
Portofino Resources (POR) remains unchanged and is trading at C$0.10 per share at 2:24pm EDT.