The South of Otter Property is contained within the Birch-Uchi-Confederation Lakes greenstone belt
A map of showing Portofino’s Red Lake Properties and new gold discovery. (Portofino Resources Inc.)
Portofino Resources has received exploration permit from the Ontario Ministry of Energy, Northern Development, and Mines for its South of Otter Project near Red Lake, Ontario, Canada.
The 5,363ha South of Otter Property is contained within the Birch-Uchi-Confederation Lakes greenstone belt, which hosts the Red Lake gold deposits.
The permit, which is valid for three years, allows Portofino to undertake trenching, diamond drilling, and line cutting within the project claim area.
Portofino plans to further explore the area to determine the extent of mineralisation related to its recent new gold discovery at the South of Otter property.
The firm recently said it has identified two gold bearing quartz veins sampling 18.0 grams per tonne (g/t) and 8.19 g/t gold, in the assay results from 12 grab samples.
Portofino CEO David Tafel said: “Receiving the Permit is timely for Portofino as it allows us to immediately expand our exploration program focused on our recent high-grade gold discovery.
“We are pleased to be able to mobilize our field crew so quickly and commence mechanical trenching along this new gold trend.”
Exploration crew to assess the potential of new discovery
The recently deployed exploration crew will focus on assessing the new discovery’s potential. The team is also tasked to determine the optimal exploration steps required for a diamond drilling programme.
The company is planning to use a hydraulic excavator to remove overburden at the discovery to determine additional trenching along strike.
Portofino noted that the property hosts what it claimed to be the excellent targets for both Red Lake-style gold mineralisation and gold bearing base metal prospects.
In May 2020, Portofino Resources signed a binding agreement to acquire three claims totalling 1,147ha in the Steep Rock Greenstone Belt of northwestern Ontario.