Portofino has the right to acquire a 100% interest in the Hombre Meurto West lithium brine project located in Catamarca, Argentina. The Hombre Meurto West project is comprised of two claim blocks totaling 1,804-hectares. It is located within the world-class, Salar del Hombre Muerto, where FMC Lithium is currently producing lithium carbonate and Galaxy Resources is developing its Sal de Vida project. The Company recently completed a surface sampling program that tested 18 sites within the claim blocks and returned Portofino’s highest-grade brine assay to date of 1,031mg/L Lithium. (News Release dated July 10-18)
DEL CONDOR & PUCARA SURFACE SAMPLING SITE VISIT, MAY 2017: SALAR DEL HOMBRE MUERTO, CATAMARCA, ARGENTINA
PROJECT II, CATAMARCA PROVINCE, ARGENTINA View Photo Gallery Portofino can acquire up to an 85% interest in Project II, a lithium brine property, which is located approximately 10 km from the Chile border, 27 km east of Wealth Minerals’ Laguna Verde project and 65 km northeast of Neo Lithium Corp’s 3Q project, encompassing a 3,950 ha claim block.
Historical exploration work commissioned in 2012 by the vendor included geological mapping, sampling of surface waters, auger sampling of brines, and compilation of the distribution of Lithium and Potassium grades within the basin. Surface water and auger brine samples were analyzed and results averaged 274 mg/l of Lithium.
*The Company and its Qualified Professionals have not verified the historical sample collection methodology or analytical results, but believe the results are relevant. Future work by Portofino, including a surface water and auger brine sampling program is required to verify the historical results.
PROJECT II HISTORICAL SURFACE SAMPLING CONFIRMATION, MAY 2017: CATAMARCA, ARGENTINA
RIO GRANDE SUR, CATAMARCA PROVINCE, ARGENTINA View Photo Gallery Portofino has executed a definitive agreement with a private Argentine concession owner to acquire a 100% interest in the Rio Grande Sur lithium brine salar project in Catamarca, Argentina. The concession area comprises approximately 8,500 hectares and consolidates the southern extension of the Rio Grande salar in Catamarca. The property is adjacent to the Rio Grande concessions held by LSC Lithium Corp. (“LSC”) wherein LSC has reported an initial Mineral Resource estimate* which included a total of 2,190,000 tonnes of lithium carbonate (Li2CO3) equivalent in the Inferred Mineral Resource category with the top 50 meters (“m”) of the deposit amounting to 1,375,435 tonnes grading 338mg/l Lithium and the lower 50m to 100m amounting to 814,582 tonnes grading 410mg/l Lithium.
*LSC Lithium Corp. “Technical Report on the Salar de Rio Grande Project, Salta Province, Argentina” dated March 28, 2018 and authored by Hains Engineering Company Limited.
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