Portofino identifies additional gold mineralization at South of Otter Project, Red Lake

PORTOFINO RESOURCES has received assay results from the recent overburden trenching campaign on the Company's South of Otter property. The trenching was completed on three prospective sites; the Cliff Zone, the Yellow Jacket Trench and the Silver Lining Trench. A total of 22 samples were submitted for fire assay to Activation Laboratories and 5 selective chip and channel samples returned anomalous values for gold (base metal analyses are still pending).

Trenching was conducted at the Cliff Zone, the site of the company's initial gold discovery of high-grade gold mineralization of 16 grams per tonne gold ("g/t Au") (Portofino news - August 26th2020) in a quartz vein located 200 meters ("m") southeast of Goldcorp's 2002 drill hole (SF02-08). Bedrock exposed by trenching of the Cliff Zone contained 2 (+25cm wide) quartz veins and a broader carbonate plus pyrite alteration zone along the diorite and porphyry contact. Gold-bearing channel samples ranged from 137 ppb Au to 1,090 ppb Au. (0.137 to 1.09 g/t Au). The 1.09 g/t Au grade was returned from a 0.58m channel sample of mineralized vein.

The Yellow Jacket trench was intended to expose mineralized bedrock associated with the 2001 Goldcorp gold soil anomaly, located 650m to the south along a geophysically-interpreted structural break. Chip samples across a width of 0.35m of a rusty intermediate volcanic unit returned a highly anomalous grade of 372 ppb Au (0.373 g/t Au). A second, highly anomalous chip sample of a quartz feldspar porphyry showed 220 ppb Au (0.220 g/t Au) over a sample width of 0.50m. 

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