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Arizaro
Portofino Resources Inc. (“Portofino”), has entered into a legally-binding, 50:50 (net equity) Partnership Agreement with Lithium Chile Inc. (TSXV-listed) for the 8,445 Ha drill-ready Arizaro Lithium Project in Salta Province, Argentina.
The Arizaro salar is centrally located in what many consider to be the best lithium-brine salar region in the world. Other companies operating in the immediate area include Eramet, Lithium Chile and Tibet Summit. Additionally, our geologist considers the concession areas to be located at “the nucleus” of the salar, with approximately 20% of the property ideally situated for a potential processing facility.
HIGHLIGHTS
- TIER 1 LOCATION: Located within South America’s “Lithium Triangle,” which is estimated to host about 54% of the world’s Lithium resources; Arizaro is strategically close to the regional centre of Tolar Grande, having road and railway access within close proximity to the property.
- HIGH QUALITY LITHIUM BRINE: Preliminary exploration reveals potential for significant lithium concentrations and VES survey has revealed aquifer depths of up to 1000m, underscoring its potential and similarity to other projects being developed on the Arizaro Salar.
- Surface and trench sampling by Portofino returned values consistent to those of other programs completed by developers on the Arizaro Salar.
- SHARED GEOLOGY: Given the proximity to Eramet, Lithium Chile and Tibet Summit, there is a strong likelihood that Arizaro will share similarities with other projects in the immediate vicinity.
PRIOR EXPLORATION
In 2022, on behalf of REMSa, Portofino carried out an extensive due diligence exploration program consisting of surface and near-surface brine sampling and geological mapping, including the deployment of teams of geologists, geophysicists, technicians, and heavy equipment operators that have completed:
- Collection of more than 40 surface brine samples;
- 35 trenches reaching shallow water tables using excavation equipment; and
- 69,000 metres of geophysical survey utilizing Vertical Electric Soundings technology.