Portofino Resources Finalizes Plans for Geophysical Survey Program Hombre Muerto Salar-Argentina
TSX VENTURE: POR
Vancouver, British Columbia--(Newsfile Corp. - March 14, 2019) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POT) ("Portofino" or the "Company") is pleased to announce that further to its news release dated February 26, 2019, the Company has now finalized detailed plans with its geological and geophysical teams in Argentina pursuant to implementing a geophysical survey on its Hombre Muerto West lithium brine project. Additional specifics and timing are noted below:
- The geophysical crew will complete up to 32 vertical electric soundings ("VES") using a ~1000 metre ("m") Wenner array with a theoretical maximum depth capability of ~300m. The VES technique is a relatively simple type of resistivity survey that is commonly used to investigate both geological and hydrogeological characteristics in the subsurface and is effective with horizontal layering, which is characteristic of a salar setting;
- To ensure surface and weather conditions are optimal for accessing the Salar de Hombre Muerto, work is anticipated to commence on the claims in early April and anticipated to be completed in three weeks;
- Environmental Impact Reports will be completed on both claim blocks comprising the Hombre Muerto West project in line with the requirements of the Province of Catamarca.
The geophysical survey follows the Company's 2018 near-surface brine sampling program at the Hombre Muerto West Project which resulted in sample values of up to 1,031mg/L lithium (Li), 9,511 mg/L potassium (K) and 1,716 mg/L magnesium (Mg). (News Release - July 10, 2018).
Hombre Muerto West, Catamarca
Portofino has the right to acquire a 100% interest in 2 mineral concessions, the Pucara and Condor claim blocks that comprise 1,804 hectares ("ha") located at the Salar del Hombre Muerto, where Livent Corporation is currently producing lithium carbonate at their Fenix Operation approximately 15km southeast of the Hombre Muerto West Project and where Galaxy Resources is currently developing its Sal de Vida project in the eastern part of the Salar.
The technical content of this news release has been reviewed and approved by Andrew J. Turner, B.Sc., P.Geol. of APEX Geoscience Ltd., who is the Company's Geological Consultant and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Portofino Resources Inc.
Portofino is a Vancouver-based Canadian company focused on acquiring, exploring and developing mineral resource projects in the Americas. The Company maintains an interest in several prospective lithium salar properties located within the world-renowned "Lithium Triangle" in Catamarca, Argentina.
On Behalf of the Board,
"David G. Tafel"
Chief Executive Officer
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This news release may contain forward looking statements concerning future operations of Portofino Resources Inc. (the "Company"). All forward- looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.