Location:
Argentina
Nearest Landmark:
PUERTO MADRYN
Distance from Landmark:
90 km
Direction from Landmark:
North
Latitude:
42 Degrees 2 Minutes (South)
Longitude:
65 Degrees 20 Minutes (West)
Portal Resources announced that it has terminated the Arroyo Verde Option agreement under Portal Resources Ltd’s wholly-owned subsidiary El Portal de Oro S.A., an Argentinean company, which was earning the interest. The Arroyo Verde property is located in Chubut Province, Patagonia, Argentina.
The company intends to commission an independent 43-101 compliant study to calculate the
resource of precious metals for the mineralized zones defined to date both within the Principal Vein as well as
the Hanging Wall Vein using the available drill data.
August 14, 2007
Reported drill results for the depth extension of the Principal vein. Although the vein structure was intersected in all holes, they were unsuccessful in extending the high-grade mineralization below 200 metres vertically in depth. The holes intercepted a wide hydrothermal breccia zone up to 10 metres in width with narrow
banded epithermal veins with widths of 0.5 to 1.0 metre and grades ranging from 0.10 to 5.2 grams per tonne (g/t) gold equivalent. In addition, four holes, PO-95, 97, 100, and 109, intercepted a hangingwall vein over a
strike length of 120 metres and dip length of 200 metres. The vein ranges in width from 1.0 to four metres true width with grades ranging from 5.17 to 35.94 g/t gold equivalent.
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