Portofino Resources Inc., (TSXV: POR; OTCQB: PFFOF; FRA: POTA) in addition to its lithium brine projects in Argentina, also owns prospective lithium hard rock projects in Ontario. Now, the company released encouraging initial results from 28 grab samples and 23 selected channel samples taken at its Allison Lake North lithium property.
Portofino Resources Inc., (TSXV: POR; OTCQB: PFFOF; FRA: POTA) in addition to its lithium brine projects in Argentina, also owns prospective lithium hard rock projects in Ontario. Now, the company released encouraging initial results from 28 grab samples and 23 selected channel samples taken at its Allison Lake North lithium property.
The project is located 100 kilometers east of the town of Red Lake in northwestern Ontario. In the wider neighborhood some 60 kilometers away is the McCombe-Root Bay lithium deposit with 2.3 million t @ 1.3% Li2O. Explorers at the Root Bay Pluton include Australian company Green Technology Metals (ASX:GT1). GT1 recently reported thick, high-grade spodumene-bearing pegmatites at surface from their current 24,000-meter drill program at the McCombe-Root Lake Lithium Project (press release, October 28, 2022). The mapping has also identified new, untested spodumene-bearing rock layers. GT1 also recently announced a strategic collaboration with Lithium America’s Corp. to build a vertically integrated lithium company in Ontario (press release, September 28, 2022).
“We are encouraged by the results of the mapping and sampling program on our new Allison Lake North claim groups,” says David Tafel, CEO of Portofino Resources. “The discovery of anomalous rare element mineralization in undocumented pegmatites and the use of the (litho-geochemical) results to target future exploration efforts to areas with the highest potential for success bodes well for subsequent exploration programs.”
A 2003 report by the Ontario Geological Survey (“Breaks et al.”) described the Allison Lake Batholith as the largest known peraluminous granitic body in northwestern Ontario. Breaks concluded that “the Allison Lake Batholith represents an important new exploration target for rare element mineralization. This area has high potential for further discoveries of rare element mineralization occurring in ex-contact metasedimentary pegmatites or as internal pegmatites within source granite.”
The Allison Lake North Property
The property comprises 7 mining claims totaling 2,288 hectares (ha) in three claim groups and is located 100 kilometers (“km”) east of the town of Red Lake in northwestern Ontario. The property is accessible by well-graded logging roads and a hydroelectric power line crosses the claim group. The claims were staked to acquire strategically important exploration areas where lithium and other rare element mineralization targets occur in association with the Allison Lake batholith. Portofino is acquiring a 100% interest in the property.
Figure 1. overview of major lithium deposits in northwestern Ontario.
Conclusion: Canadian lithium hard rock projects are currently booming. Portofino recognized this in time and is pursuing a two-pronged approach. As before, the lithium brine projects in Argentina are likely to deliver the faster results. Nevertheless, it is good that Portofino is also involved in the exploration of lithium hard rock projects with the Allison Lake project. Success at its Australian neighbor Green Technology Metals would certainly add value to the Portofino project. It might therefore be worthwhile to follow the news from Green Technology.
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