South of Otter Overview Presentation
PHASE 1 - SGH Gold-in-Soil Anomalies at the South of Otter
The 5,363 hectares (South of Otter) property is situated within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the world-renowned Red Lake gold deposits and includes the Dixie project currently being drilled by Great Bear Resources Ltd. (“GBR”). It is located approximately 40 kilometres (“km”) southeast of the town of Red Lake, Ontario and only 8 km east of GBR’s recent high-grade gold discoveries. GBR has reported successfully discovering near surface mineralization localized in quartz veins, lithological contacts and favorable host rocks which is localized near a property wide deformation zone. The Portofino claims with their proximity to the Dixie Project are believed to contain excellent targets for Red Lake-style gold mineralization.
On August 5, 2020, Portofino reported assay results from grab samples that identified two gold bearing quartz veins sampling 18.0 grams per tonne ("g/t") and 8.19 g/t gold. The samples were taken in close proximity to strong sulphide mineralization noted by Portofino’s field crew in its summer exploration program.
Historical work on the claims includes prospecting, sampling, geophysical surveying and some diamond drilling. The Company believes that the lack of detailed historical work is an opportunity to conduct meaningful programs that may be guided by the successes of neighboring projects.
The greenstone belt rocks of the Property are Archean-age and include metamorphosed mafic volcanic and intrusive units, mixed sedimentary rocks and felsic intrusive units. The dominant structural trend is east-west with near vertical lithological contacts. Gold mineralization within the Red Lake camp can reportedly occur in various rock types and can occur in diverse geological settings ranging from strataform zones to structurally controlled veins.