Since announcing the Option Buy-Out, the Company has received renewed interest from groups that had previously engaged with Portofino pursuant to possible project-level investment, joint venture, and outright acquisition of the Project. At present, the Company is engaged in active discussions with multiple parties, including post-NDA due diligence. While no transaction is guaranteed, the Company is encouraged by the renewed interest in the Project and external recognition of its potential value especially given its close proximity to the world-class Tres Quebradas Salar (the '3Q Project') owned by
Recent buy-side demand for lithium-brine properties in
Portofino's private placement financing (NR
Portofino has completed and reported the results of a geophysical survey. The survey identified 2 large, aquifers within the Project measuring approximately 2.3km x 1km and 1.8km x 2.5km (POR News Release 06-APR-2021). In addition, the Company's surface sampling programs confirmed economically significant brine grades, returning values up to 373 mg/l Lithium and advancing the Project to a drill-ready stage.
Portofino's technical team has identified 4 priority drill targets and a drilling contract has been finalized.
About
Portofino is a
Portofino's South of Otter and
Contact:
Tel: 604-683-1991
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