Portofino Resources: New Gold Zone and Promising Samples – Columns

Gold Explorer Portofino Resources (TSX-V POR) (FWB POTA) Announces encouraging developments from its Gold Creek Project in Ontario. The company received the results of an additional 94 samples from the exploration program conducted in the fall.

This fall program, Portofino said, tested both the known occurrences and the new gold targets defined by a recent flight geophysical survey. The focus was on six magnetic anomaly target areas in the 4,036 hectare concession area. With these samples, Portofino complements the results from the prospecting and mapping program from this summer.

The 94 samples of the second batch now received come primarily from two gold target zones in the eastern area of ​​Gold Creek and within the Matawin gold belt. Both appear to be stroking linearly in an east-west direction. In addition, these target zones occur approximately 2,700 meters to the west and on strike of the I-Zone North and South occurrences.

As Portofino now announced, around a third of the 94 samples showed anomalous or higher gold grades, with the maximum value being an impressive 5.12 grams per ton. Such samples, which in the analysis yielded values ​​of more than 5,000 ppb (parts per billion) gold, have been re-analyzed by the company using a fire assay.

Portofino had previously returned high grade gold results from the first target area, the S1 Zone, including a sample of 175 g / t gold! In the ongoing program, another 14 samples from the S1 zone returned significant results from 90 ppb to a maximum of more than 5,000 ppb gold. The fire assay of the sample that returned 5,000 ppb gold found a gold value of 5.12 g / t gold. All samples from the S1 zone were collected from outcrops over a strike length of approximately 250 meters.

New gold zone discovered

In addition, the Portofino geology team discovered a band of outcrops of rusty, rocky intrusive rock with local quartz ore strings and up to 5% pyrite in a new outcrop on a forest road around 300 meters north of the S1 zone. This rock was very fissured and sheared in places and is known as the “New Road Zone”. This zone is located on the eastern end of one of the six target magnetic anomalies. Samples were taken over a strike length of 100 meters and analysis of 14 samples showed values ​​of up to 4,070 ppb gold! Many of the samples from the New Road Zone appear to resemble a sample taken approximately 200 meters west of Portofino during the summer program that returned 161 ppb gold. Which indicates that the New Road Zone has a possible strike length of more than 300 meters.

David Tafel, CEO of Portofino, is encouraged by the results so far and also by the discovery of the new gold zone. Since the results have been positive so far, an application has already been made for the approval of further exploration work as well as drilling, according to Tafel.

Proceed further

Portofino is now having all samples from the autumn program that delivered 1,000 ppb gold or more re-analyzed using a fire test using the Screened Metallics method. This method is intended to evaluate the effect of coarse gold particles on the reliability of standard gold analysis methods. Should there be significant occurrences of coarse-grain gold in the mineralization on the Gold Creek Property – and there is evidence of this in certain historical reports – the Company’s geologists will be better prepared to include it in the assay results of future outcrop and core sampling consider.

In particular, Portofino will integrate all analysis and research results from the programs from summer and autumn this year into an ongoing collective study and the associated report. All available historical geological, geophysical and geochemical data are digitized and compiled in a database so that an advanced evaluation report for the concession area should be completed before the end of the calendar year. This report will include structural analysis and structural models to assist the Company in planning a drilling and trenching program for the coming year.


Exploration at Gold Creek is still in its infancy, but Portofino’s activities this year have already gathered a body of information that we believe suggests the company may be on the trail of significant gold mineralization here. In view of the still strong gold price, the upcoming work and the fact that Portofino in South of Otter has another exciting project in the orbit of Great Bear Resources, we are confident that the stock will still rise significantly, at least in the medium and long term Could gain value. There is of course no guarantee of this, especially with exploration companies.

Subscribe to our free newsletter:
Follow us on Twitter:

Risk warning: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish comments, analyzes and news on This content is intended solely for the information of the reader and does not represent any kind of call for action, neither explicitly nor implicitly are they to be understood as a guarantee of possible price developments. Furthermore, they are in no way a substitute for individual, expert investment advice and represent neither an offer to sell the stock (s) in question nor an invitation to buy or sell securities. This is expressly not a financial analysis but a promotional one / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information offered here act entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information only relates to the company, but not to the reader’s investment decision.

The acquisition of securities involves high risks, which can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, however any liability for financial loss or the content guarantee for the topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please take note of our Terms of Use.

In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that GOLDINVEST Consulting GmbH and / or partners, clients or employees of GOLDINVEST Consulting GmbH can or do hold shares in Portofino Resources and that there is therefore a conflict of interest. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. Under certain circumstances, this can affect the respective share price of the company. GOLDINVEST Consulting GmbH currently has a contractual relationship with the company, which is reported on within the GOLDINVEST Consulting GmbH website as well as in social media, on partner sites or in emails, which also represents a conflict of interest. The above information on existing conflicts of interest apply to all types and forms of publication that GOLDINVEST Consulting GmbH uses for publications on Portofino Resources. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values ​​recommended by us during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. No guarantee can be given for the correctness of the courses mentioned in the publication.

PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section.
PERSONAL-FINANCIAL.COM AG is not responsible for content that is recognizable by third parties in the “News” area
This website has been discontinued and does not adopt it as its own. These contents are in particular through
a corresponding “from” mark below the article heading and / or through the link
“To read the full article, please click here.” responsible for
this content is solely the named third party.

Related Articles

Back to top button