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Portofino completes Gold Creek Property fall fieldwork

Nov 17, 2020

PORTOFINO RESOURCES INC. is pleased to announce the first batch of analytical results for its fall 2020 field work on its Gold Creek Property in northwestern Ontario.

"Portofino's exploration team has been very successful as indicated by this initial batch of high-grade gold results," said David Tafel, CEO of Portofino Resources. "We can confidently begin the process of designing our next stage of exploration and diamond drilling."

The fall program was intended to test both known showings and those new gold targets defined by the Company's recently completed airborne geophysical survey. The geological team examined at least 6 target areas of magnetic anomalies located throughout the Gold Creek property. Approximately 160 grab samples were taken, representing mineralized showings, altered host rocks and various lithologies found in the target areas to supplement the earlier findings of the summer 2020 prospecting and mapping program. 

The preliminary results for the first 60 gold content analyses have been received with the highest grade being 45.6 grams per tonne ("g/t"). For the samples that returned greater than 5,000 ppb gold, the samples were retested by fire assay. All of the significant results that are greater than 50 ppb gold are listed in Table 1 below.

These reported gold showings are within the eastern Gold Creek property claims and comprise a strategic land package that contains several notable historical high-grade gold occurrences including historical drill intercepts of 4.32 g/t gold over 41 metres("m") and 4.36 g/t gold over 20.42m completed by Landore Resources Inc. in 1995 within an area called the "I-Zone". In 2008, Mengold Resources Inc. completed a 1 tonne bulk sample within the "I-Zone" which returned an average grade of 9.9 g/t gold.

The I-Zone Gold occurrences consist of a series of felsic dikes that intruded into the hosting banded iron formation. The dikes commonly have widths of 4.5m within which are relatively densely spaced gold-bearing quartz-tension/ladder veins containing 3% - 5% pyrite and occasionally coarse visible gold. Through the course of the Company's fall program, the I-Zone was found to consist of two subparallel occurrences "I-Zone North" and "I-Zone South", striking approximately east west over a distance exceeding 100m and paralleling the Crayfish Creek fault zone. 


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