Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
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Portofino Resources (TSXV:POR) made public this week initial sampling results from its Yergo lithium brine project, located at the Aparejos salar in the province of Catamarca, northwestern Argentina.
In a press release, Portofino said that the exploration program consisted of surface and near-surface brine sampling and geological mapping. “Hand augers were utilized to obtain the brine samples from surface to a maximum depth of 1.3 meters. A total of 22 locations across the property were sampled within the project concessions with samples returning values of up to 373 mg/L lithium, and up to 8,001 mg/L potassium. In all, the analyses for the 22 sample sites averaged 224.4 mg/L Li, 4,878 mg/L K and 184.4 mg/L magnesium,” the release states.
The 2,932-hectare Yergo project encompasses the entire Aparejos salar and is located in the southern part of the “Lithium Triangle”
The Vancouver-based company explained that due to the unusually high levels of water in the salar, most of the sample sites are located in the southeast portion of the property. The 16 “southeast corner” sample sites averaged 278.1 mg/L Li, 6,091 mg/L K and 86.2 mg/L Mg and their analyses also indicated low Mg:Li ratios (0.4 avg).
In Portofino’s view, due to the proximity of the salars comprising Neo Lithium’s 3Q project and Portofino’s Yergo project, it is likely that they have experienced similar geological histories and are similarly enriched in lithium and potassium as a result of their common evaporitic climate and local geology.
“We are encouraged with these very good, initial lithium and potassium sample results combined with extremely low magnesium/lithium ratios,” David Tafel, the firm’s CEO, said in the media brief. “As soon as weather permits, our geological team will continue their exploration work to follow up on the potential surface extent of the mineralization.”
