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Portofino has a binding agreement with a private Argentine concession owner to acquire a 100% interest in the Del Condor and Pucara lithium brine salar projects in Catamarca, Argentina. The claims encompass a combined 1,804 hectare claim block and are 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. There is no historic exploration on either the Del Condor or Pucara claim blocks, however, Portofinoís geological team recently completed a site visit and a limited near surface brine sampling program from hand-augered test holes. Geochemical analysis of the brine samples was completed by ALS Global Laboratories and returned values up to 340 mg/l Lithium.
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 binding 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 ("LSC") and Enirgi Group Corp. ("Enirgi"). LSC has reported historical lithium concentrations at surface of up to 420 mg/l lithium* with recent sampling work confirming a prior surface sampling program completed by Enirgi. Additionally, the Rio Grande salar has been a significant past producer of sodium sulfate and several small producers continue to operate in the area.
* LSC Lithium NI 43-101 Report, "Review of Four Lithium Exploration Properties in Argentina" prepared for LSC Lithium Inc. and dated January 27, 2017. Note-Portofino is not aware of any historical work completed on the Rio Grande Sur concession area and the historical Li-brine results achieved on the adjacent Rio Grande Property of LSC are not necessarily indicative of any mineralization on Rio Grande Sur.
YERGO, CATAMARCA PROVINCE, ARGENTINA
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Portofino has the right to acquire up to a 100% interest in the Yergo and Yergo II claims. The Yergo claim encompasses a 2,932 ha claim block and is located 30 km south of Portofino's Project II, and 20 km south-east of Neo Lithium Corp's 3Q project.
The Yergo 2 claim encompasses a 614 ha claim block and is located approximately 20 km south of the Company's Rio Grande Sur project and 23 km west of the Antofalla salar currently being explored by Albermarle Corporation.
*Technical content has been reviewed and approved by Andrew J. Turner, B.Sc., P.Geol. of APEX Geoscience Ltd., who is the Company's Geological Consultant and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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