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