Gold explorer Portofino Resources (TSXV POR / Frankfurt POTA) demonstrates good timing. Because while gold is hitting new highs above the $ 2,000 an ounce mark today, the company is delivering initial results from the slit samples taken on its South of Otter project. You can prove up to 18 grams of gold per ton!
The Portofino team recently performed geological mapping and prospecting on the project in the Red Lake district of Ontaria. Significant sulfide mineralization and quartz-sericit weathering were identified between geological contact and a fault zone that runs through the central part of South of Otter.
Now Portofino has received the test results of 12 slit samples taken along this trend and discovered two gold-containing quartz veins – and thereby verified 18 g / t gold and 8.19 g / t gold! Since only a limited number of rock outcrops are available for mapping and sampling, the company now plans to run a debris trench program to expand the new surface mineralization zone and determine the potential strike length and mineralization thickness.
As Portofino’s CEO David Tafel explains, these new gold deposits are located just 400 meters south of a gold-in-ground anomaly identified by Goldcorp in 2001. Due to the surface layer and only a few outcrops, only limited work has been carried out in this area in the past. The team would soon be mobilized to investigate this discovery further, Tafel said.
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