Portofino Resources Inc. announces that it is arranging a private placement financing for up to $1,000,000 priced at $0.15 per common share Unit. Each Unit will consist of one common share and one-half share purchase warrant. Each full Warrant shall have a term of 24 months commencing on the Closing Date and shall entitle the holder to purchase one common share at a price of $0.25 during the term. Closing will be subject [...]
Portofino Resources Inc. is pleased to report it has received assay results from the recent overburden trenching campaign on the Company's South of Otter property . The trenching was completed on three prospective sites; the Cliff Zone, the Yellow Jacket Trench and the Silver Lining Trench. A total of 22 samples were submitted for fire assay to Activation Laboratories and 5 selective chip and channel samples returned [...]
New claims include historical drill intercept of 4.32 g/t gold over 41 metres and a 1-tonne bulk sample returned an average grade of 9.9 g/t gold Portofino Resources Inc. is pleased to announce the acquisition of a block of 5 mining claims totalling 105 hectares contiguous to its current eastern Gold Creek Property boundary . The acquisition expands its Gold Creek Property to 4,023 ha. The New Claims cover several gold [...]
Portofino Resources Inc. is pleased to report its exploration crew has completed a successful mechanical trenching and soil anomaly testing program on its South of Otter, Red Lake property . As previously reported, the Company had discovered 2 gold bearing quartz veins sampling 18.0 grams per tonne gold and 8.19 g/t gold. A re-assaying of the initial 12 samples resulted in the first 2 samples assaying 16.0 g/t gold and [...]
Sampling confirms high grade nature of gold occurrences Portofino Resources Inc. is pleased to announce the results of its prospecting program at its Gold Creek Property located 65 kilometers west of Thunder Bay, Ontario. The purpose of the initial prospecting program was to confirm historical gold-bearing occurrences and sample additional points of interest. A total of 56 grab samples were taken over a 5-day period [...]
Portofino Resources Inc. is pleased to announce the Company has been issued an Exploration Permit for its South of Otter Project from the Ontario Ministry of Energy, Northern Development, and Mines. As part of the Permit process, Portofino consulted with and received support from all local indigenous groups. The Permit is valid for 3 years and will allow for trenching, diamond drilling, and line cutting to be completed [...]
Portofino Resources Inc. is pleased to announce it has identified a new gold showing on its South of Otter Project near Red Lake, Ontario. Recent prospecting and geological mapping on the project by Portofino's field crew identified significant sulphide mineralization and quartz-sericite alteration between a geological contact and fault zone through the central portion of the project . The company has received the assay [...]
New claims cover trends of gold-bearing horizons Portofino Resources Inc. is pleased to announce it has acquired by staking, an additional seven claims or 142 mining cells that increase the size of its Gold Creek Property from 1,024 hectares to 3,918 ha. The new claims were acquired to cover northeast trending structural features that are apparent extensions of known gold-bearing horizons and to cover the Tinto Lake [...]
Portofino Resources Inc. is pleased to announce it has commenced field work on its Bruce Lake Gold Property. The exploration program will consist of prospecting, rock, soil and glacial till sampling, and geological mapping. The program will focus on two main areas. The western portion of the project with historical soil anomalies, will undergo an extensive mapping campaign to identify potential bedrock sources for the [...]
Portofino Resources Inc. is pleased to announce the appointment of Mr. Brian Crawford to its Board of Directors. Mr. Crawford is replacing Mr. Ken Cawkell as an independent director who is retiring from the Board but will continue his involvement with the Company as a strategic advisor. Brian Crawford, CPA, CA holds a B. Com. from the University of Toronto and has extensive experience as a senior financial executive with [...]
Portofino Resources Inc. is pleased to announce it has entered into an Option Assignment Agreement with Falcon Gold Corp. to acquire a 100% interest in the 1,428 hectare Bruce lake property in the Red lake, Ontario gold district. The Property is located only 1.5 kilometres northeast of Great Bear Resources Pakwash Property and about 11 km southeast of Great Bear's famous Dixie Project boundary . Figure 1. General location [...]
Portofino Resources Inc. is pleased to announce the successful completion of its recent field program on the South of Otter project near Red Lake, Ontario. The Company conducted prospecting and geological mapping along strong conductors identified in both the Company's winter electromagnetic ground survey, and by Gold Corp's interpretation of 2001 airborne magnetic data. A total of 32 samples were collected to test [...]
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