Portal Resources Ltd.

Portal Resources Ltd.

March 07, 2005 10:44 ET

Portal Resources Prepares to Drill Gold-Silver Veins


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PORTAL RESOURCES LTD.

TSX VENTURE SYMBOL: PDO

MARCH 7, 2005 - 10:44 ET

Portal Resources Prepares to Drill Gold-Silver Veins

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2005) - Portal
Resources Ltd. (TSX VENTURE:PDO) is pleased to announce the commencement
of a Phase 2 Induced Polarization - Resistivity Geophysical program at
the Arroyo Verde Epithermal Gold - Silver Project in preparation for
drill testing. The 100% owned project measures 40,000 ha (155 square
miles) in size located in the northeast corner of Chubut Province
Patagonia, Argentina; within 3km of the major paved coastal highway and
is amenable to year round field work.

The program, budgeted at US$ 77,000, consists of 32.5 line kilometers of
Pole-Dipole survey and 56.5 line kilometers of Gradient Array survey for
a total of 89 line kilometers. The geophysical survey will: 1) provide
detailed cross section pseudo sections to locate drill holes on the Main
Rhyolite Dome vein structures and the inferred vein structures
associated with large resistivity - chargibility anomalies , measuring
2.5 kilometers by 2 kilometers, just to the south of the Main Rhyolite
Dome; 2) will assist in defining targets on the large gravel covered
rhyolite dome complex located five kilometers south of the Main Dome
and; 3) define the cause of a large Induced Polarization chargibility
anomaly associated with silicified faults and disseminated
silver-lead-zinc mineralization, a "Navidad" style target, a further
four kilometers to the south at the contact of sediments and volcanics.

Recent rock channel sampling on the Main Rhyolite Dome area has outlined
four high-grade epithermal veins with strike lengths of 100 to 600
meters and grades up to 70 g/t gold and 3,500 g/t silver over widths of
0.5 to 2.0 meters. Drilling to date has only tested the veins to a
shallow depth of 30-50 meters, with intercepts of 5-18 g/t gold and
15-250 g/t silver.

A combination Reverse Circulation - Diamond Drill program is planned on
the Main Dome and adjacent South Dome upon completion of the geophysical
survey at the end of March. The drill program will target the known
high-grade veins of the Main Dome and on the large resistivity vein
targets, under shallow gravel cover, on the adjacent South Dome.

Previous exploration at the Arroyo Verde project has identified a
strong, well mineralized low sulphidation epithermal gold-silver system
hosted within a rhyolite dome complex. The area, forming part of the
northern rhyolitic massif (geological terrain), is correlated to the
southern Deseado Massif which hosts a series of significant projects
including Mina Martha and Huevos Verde, as well as the multi-million
ounce Cerro Vanguardia mine owned by Anglo American. The western area of
the rhyolitic massif, hosts the Navidad lead-zinc-silver discovery owned
by IMA Exploration and the more advanced Calcatreu gold-silver project.

Additional information regarding the geophysical survey and upcoming
drill program will be released as available.

ON BEHALF OF PORTAL RESOURCES LTD.

Bruce Winfield, President, CEO and Director

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Portal Resources Ltd.
    Tom Corcoran
    (604) 629-1929
    (604) 629-1930 (FAX)
    info@portalresources.net
    www.portalresources.net
    No securities regulatory authority or stock exchange has reviewed or
    accepts responsibility for the adequacy or accuracy of this release.