BHP posts second straight year of record iron ore production, beats estimates
The world's largest listed miner said iron ore output from Western Australia on a 100% basis was 76.8 million tonnes in the three months to June 30.
Portofino Resources (TSXV: POR) decided to go ahead with an initial exploration program at its South of Otter property in Ontario following a review of all the available historical assessment work performed on the property.
In a press release, Portofino said the first phase of the program will consist of ground VLF/EM geophysics and soil geochemistry surveys.
Results from historical drilling at South of Otter included a gold-bearing assay yielding 0.25% copper and 1.25% zinc over 2 metres
“Utilizing the historical geological and airborne magnetic surveys has enabled the company to advance its exploration program rapidly and cost-effectively,” the media brief states. “Combined with the new data to be collected from the upcoming program, the company expects to delineate mineralized structures related to past gold and base metal discoveries and outline targets for follow-up trenching and drilling.”
The 5,120-hectare South of Otter property is contained within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the Red Lake gold deposits and includes the Dixie project currently being drilled by Great Bear Resources.
The project is also within 6 kilometres of BTU Metals’ property where recent drilling success includes an assay result of 44.3 metres of 1.14% copper equivalent with intervals containing as much as 5.56% copper, 99.6 grams per tonne silver and 2 g/t gold.
