Portofino Reports Airborne Survey Results- Allison Lake North Lithium Project
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 REPORTS AIRBORNE SURVEY RESULTS-
ALLISON LAKE NORTH LITHIUM PROJECT
Vancouver, B.C., September 15, 202 2. PORTOFINO RESOURCES INC. (TSX -V: POR) (OTCQB:
PFFOF) (FSE: POTA) (“Portofino” or the “Company”) is pleased to announce that it has received
results from a property wide high -resolution helicopter-borne magnetometer ("mag")
geophysical survey completed by Prospectair Geosurveys, on the Allison Lake North property
(the “Property”) . The survey comprised 406 line-kilometers of high-resolution mag with GPS
controlled 50 -meter line separations . The objective of the survey was to identify structural
weaknesses, geological contacts and possible fractionation directions in the Allison Batholith
that could potentially contain lithium bearing pegmatites.
The resultant total magnetic intensity field was very settled in absolute terms with increasing
intensity towards the eastern portion of the Prope rty (Figure 1). This may represent
fractionation west ward from a barren biotite -rich granite to a more peraluminous fertile
granitic melt. Low amplitudes in the southwestern portion of the Property may reflect
metasediments of the Birch -Uchi greenstone bel t. According to Breaks et al., 2003 1,
fractionation and crystallization or rare elements (Li- Cs-Ta) occur mainly at the outer edges of
the parental granite or those rocks in contact.
Portofino’s CEO, David Tafel comments; “Results of the airborne survey will be instrumental in
guiding an upcoming 3rd phase channel and grab sampling program where our previous
sampling returned values that included up to 412 ppm Lithium and 1040 ppm Rubidium. The
Allison Lake area has attracted a significant number of exploration groups due to its excellent
prospects. We are fortunate to be positioned in the heart of this fully staked, multi-company,
battery mineral exploration region.”
Preliminary interpretation of the survey results will aid in the next phase of ground prospecting
and mapping to those areas of high merit whe n combined with Portofino’s previous sampling
and mapping efforts.
Figure 1. Total magnetic intensity of the high- resolution mag survey and preliminary
interpretation of Portofino’s Allison Lake North property.
The resultant magnetic features reflect a possible fractionation zonation that has been
mirrored by the Company’s 2021 sampling and mapping program and efforts by Green
Technology Metals within the Allison Lake Batholith (Figure 2).
Figure 2. Fractionation trends and sampling within the Allison Lake Batholith from Green
Technology Metals. (Modified to include Portofino’s claims and sampling results).
About The Allison Lake North Property
The Allison Lake North Property comprises 7 claims (113 cells) totaling 2,286 hectares (ha) and
is located 1 00 kilometers (“km”) east of the town of Red Lake in northwestern Ontario.
Numerous lithium deposits have been delineated in northwestern Ontario and host significant
reserves of lithium oxide- Li2O. The Property is accessible by well- established logging roads and
a hydro -electric power line transects the claim group. The Property contains significant
attributes that are key to the formation of lithium -bearing pegmatite dykes. It is positioned
along the contact between the Allison Lake pegm atite granite bat holith and the Jubilee Lake
metasedimentary rocks of the Uchi Subprovince in northwestern Ontario. This important
contact is now fully staked and subject to active exploration by multiple companies.
Qualified Person
The technical content of this news rele ase has been reviewed and approved by Mike Kilbourne,
P.Geo., who is a Qualified Person as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects. The QP and the Company has not completed sufficient work to
verify the information or geological on the properties of neighbouring companies.
References
Breaks, F.W., Selway, J.B. and Tindle, A.G., 2003. Fertile peraluminous granites and related
rare-element mineralization in pegmatites, Superior Province, North and Northwest Ontario :
Operation Treasure Hunt, Ontario Geological Survey, Open File Report 6099, 212p.
About Portofino Resources Inc.
Portofino is a Vancouver- based Canadian company focused on exploring and developing
mineral resource projects in the Americas. Portofino has an opportunity to earn a majority
interest in multiple lithium projects in Salta, Argentina and up to 100% of the Yergo Lit hium
property in Catamarca. The properties are situated in the heart of the world- renown Argentine
Lithium Triangle and in close pro ximity to multiple world -class lithium projects. The Company
also has the right to earn 100% interest in three northwestern Ontario, Canada lithium projects:
Allison Lake North, Greenheart Lake and McNamara Lake.
Portofino’s South of Otter and Bruce Lake projects are in the historic gold mining district of Red
Lake, Ontario, Canada proximal to the Dixie gold project discovere d by Great Bear Resources
and now owned by Kinross Gold Corp. In addition, Portofino holds three other northwestern
Ontario gold pr ojects; the Gold Creek property located immediately south of the historic
Shebandowan mine, as well as the Sapawe West and M elema West properties located in the
rapidly developing Atikokan gold mining camp.
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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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements concerning fut ure operations of Portofino Resources
Inc. (the “Company”). All forward- looking statements concerning the Company’s future plans and operatio ns,
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 futur e performance and that actual performance and exploration and financial
results may differ materially from any estimates or projections.