Portofino Resources (TSXV: POR) announced that after receiving encouraging results from a geophysical survey and surface geochemical sampling program, it has filed an application with the Provincial Mining Ministry of Catamarca for a drill permit for the Yergo lithium project in Argentina.
According to the Vancouver-based company, the decision to launch a drill campaign was made after the survey identified two large, anomalous sub-basins within the Aparejos Salar, where Yergo is hosted.
In a press release, Portofino said the survey and sampling results confirmed the presence of lithium-rich brines and the potential volume of the brines within the project.
“Phase 1 drill testing of the project will enable initial evaluation of the volume and the lithium content of the brines and sediments within the identified zones,” the media brief states. “Definitive drill target locations are being finalized.”
The 2,932-hectare Yergo property encompasses the entire Aparejos Salar and is located in the southern part of the Lithium Triangle, some 15 kilometers southeast of Neo Lithium’s advanced 3Q project.
“Given the proximity of the 3Q project, it is likely that the Aparejos Salar has a similar geological history, including lithium enrichment, due to their common evaporitic climate and local geology,” the Canadian firm’s statement reads. “Sampling by Portofino returned values of up to 373 mg/L lithium, and up to 8,001 mg/L potassium and included low magnesium to lithium ratios.”