Portofino Announces Preliminary Geophysical Results FOR GOLD Creek Property and Commences Fall Work Program
Suite 520 – 470 Granville Street
Vancouver, BC, CANADA V6C 1V5
Telephone: 604-683-1991
Fax: 604-683-8544
www.portofinoresources.com
PORTOFINO
RESOURCES INC.
NEWS RELEASE
PORTOFINO ANNOUNCES PRELIMINARY GEOPHYSICAL RESULTS FOR GOLD
CREEK PROPERTY AND COMMENCES FALL WORK PROGRAM
VANCOUVER, BC, October 02, 2020. PORTOFINO RESOURCES INC. (POR: TSX-V) (POTA: FSE) (“Portofino”
or the “Company”) is pleased to report its geological team is currently on-site and conducting the fall 2020
field work program on the Gold Creek property, in northwestern Ontario (the “Property”) . The fall
program is intended to continue the successful initial prospecting work that focused on the eastern part
of the Gold Creek claims and the numerous hig h-grade showings including the recently recovered 17.3
grams/tonne (“g/t”) gold and 10.3 g/t gold grab samples. (POR news: August 18th and 26th, 2020, as well
as Figure 1.) In addition, the crews will be looking for new gold occurrences located in geological and
geophysical settings indicative of likely targets for mineralization occurring across the Property.
Figure 1. Gold Creek Property area of July 2020 grab and historical gold occurrences.
The Property is located on the south boundary of the historical Shebandowan mine approximately 60
kilometres (“km”) west of Thunder Bay and comprises approximately 4,036 hectares (9,973 acres). The
claims incorporate approximately 13 km of prospective greenstone belt and include part of the Matawin
gold belt. The Matawin belt is manifested by several gold showings that appear related to the Crayfish
Creek Fault zone (“CCF zone”). The CCF zone is a major structural feature that is a south east striking splay
off of the Quetico fault. Multiple gold occurrences are found along the +80-kilometre strike length of the
CCF zone.
GEOPHYSCIAL SURVEY PRELIMINARY RESULTS
The Company’s recently completed high-resolution airborne geophysical survey has identified at least 3
target areas of high magnetic intensity. These geophysical anomalies are each very large, occupying areas
encompassing several contiguous claim units . Preliminary results of the airborne survey are found in
Figure 2. Target areas for current mapping and prospecting include the anomalies:
(i) in the western third of the claims located within a mixed sequence of Timiskaming -type
sediments, mafic volcanics and mafic intrusive rocks where historical till samples returned
nil to 0.6 g/t Au,
(ii) in a linear belt about 5 km long paralleling the CCF zone that has magnetic indications and
historically mapped banded iron formation, and
(iii) a 2 km2 area located in the east-central part of the Property where numerous gold showings
are associated with syenite intrusive bodies cross-cutting banded iron formation.
Figure 2. Preliminary total magnetic intensity , structural features and historical gold occurrences of the
Gold Creek Property
Additional mapping and prospecting targets include investigating occurrences of alkalic felsic intrusive
bodies. Much of the middle area of the Property is underlain by significant syenite-diorite intrusive plug
that measures approximately 6 km by 3 km. Similar alkalic units are known to host gold deposits in such
gold mining camps as Red Lake and Kirkland Lake, Ontario. Similarities to Kirkland Lake and Red Lake
provides an indication of the exploration potential of the Gold Creek Property and may not be
representative of expected results.
David Tafel, Portofino’s CEO, commented, “The intent of the current work program at the Property is to
locate gold occurrences suitable for diamond drilling. Based upon the preliminary results of our
geophysical survey and the presence of high -grade gold zones already identified , we anticipate the
potential for several drilling campaigns in the near future. As our current exploration program progresses
we intend to update our website photo gallery.”
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43 -101,
has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Portofino Resources Inc.
Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource
projects in the Americas. Its South of Otter and Bruce Lake projects are in the historic gold mining district
of Red Lake, Ontario proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd. In
addition, Portofino holds three northwestern Ontario gold projects; the Gold Creek property located
immediately south of the historic Shebandowan Ni -Cu mine, as well as the Sapawe West and Melema
West properties located near Atikokan. The Company also maintains an interest in the Yergo Lithium
Project located within the world-renowned “Lithium Triangle” in Argentina.
ON BEHALF OF THE BOARD
“David G. Tafel”
Chief Executive Officer
For Further Information Contact:
David Tafel
CEO, Director
604-683-1991
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements concerning future operations of Portofino Resources Inc. (the
“Company”). All forward - looking statements concerning the Company’s future plans and operations, including management’s
assessment of the Company’s project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond
the Company’s control. Investors are cautioned that any such statements are not guarantees of future performance and that
actual performance and exploration and financial results may differ materially from any estimates or projections