Portal Commences Drilling on El Porvenir-Refugio Molybdenum-Copper Porphyry Target
Portal Resources Ltd. is pleased to announce that drilling has commenced on the Refugio porphyry molybdenum-copper zone at the Arroyo Verde project in Chubut province, Argentina.
The Company recently completed 15 kilometers of pole-dipole IP/Resistivity survey indicating the presence of two large, discrete IP chargeability anomalies coincident with anomalous molybdenum and copper geochemistry in surface rock and soil samples and argillically altered and gossanous bedrock. Two reverse circulation drill holes will test these two newly defined chargeability anomalies to a depth of 300 to 400 meters.
In 2006 Portal carried out Induced Polarization/Resistivity geophysical surveys defining a large chargeability anomaly measuring three kilometers wide by in excess of seven kilometers long. Subsequently six reverse circulation drill holes 500 to 1000 meters apart were drilled on the northern portion of the IP anomaly.
Drill hole PO-54 provided the best results to date with two intersections of 176 meters grading 0.031% molybdenum from 284 to 460 meters and 54.5 meters grading 0.0324 % molybdenum from 655 to 711.15 meters. The drilling identified a porphyry system with lead-zinc mineralization peripheral to a higher grade molybdenum-copper zone which remains open to the southwest.
Portal Resources Ltd. is a precious and base metal exploration company founded in 2004. The Company’s exploration portfolio consists of approximately 1000 square miles of mineral rights in three primary project areas in Argentina. Commodities being explored for include gold, silver, copper, molybdenum and uranium. A description of the Company’s assets including maps and photographs, can be viewed on the company’s website at www.portalresources.net.
ON BEHALF OF PORTAL RESOURCES LTD.
Bruce Winfield, President & CEO
This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management’s expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Dan Gibbons Portal Resources Ltd.
(604) 629-1929
Bruce Winfield Portal Resources Ltd. (604) 629-1929 (604) 629-1930 (FAX) Email: info@portalresources.net
Website: www.portalresources.net
Source: Portal Resources Ltd.
