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Marifil Mines Announces New Drill Results from Las Aguilas East and West Deposits
Results include 5.64 meters grading 1.05% nickel, 0.62% copper and 0.8 g/t platinum at
Las Aguilas East
Spokane, Washington -- July 23, 2008 -- Marifil Mines Ltd. (TSXV: MFM) ("Marifil" or "the Company") announces results from 12 drill holes; 11 holes at the Las Aguilas West Deposit and one hole at Las Aguilas East Deposit. The Las Aguilas deposits (nickel-copper-platinum group elements) are located approximately 40 kilometres northeast of San Luis, San Luis Province Argentina. The 2008 results will be included with the 2007 drill hole results in the soon to be completed NI43-101 resource calculation.
The drill holes reported below have extended the Las Aguilas (LA) West deposit an additional 100 metres south and 50 metres north-northeast of last year's drilling. The LA West deposit and intrusion has now been intersected by drilling over a length of 500 metres and to a depth of 250 meters (Figures 1, 3). The deposit is a tabular body contained within a pyroxenitic dyke that shows mostly subvertical dips to the east but in the southern third the dips change from subvertical to the west to a shallow westerly dip. The mineralized intrusion appears to be cut-off to the south by a noritic intrusion.
Hole CTLA08-078 was drilled to test the depth extent of the LA East deposit. The host ultramafic intrusion exhibits a funnel shape at depth and the mineralized zone has sub-vertical dips and a steep plunge to the south. Hole CTLA08-078 intersected sulphides over 19.67 metres confirming the continuity of the deposit down plunge and extending this deposit 70 metres vertically below the deepest intersection drilled in 2007. Hole CTLA08-078 is the deepest intercept of the LA East Deposit to date at an approximately 250 meter vertical depth and shows a marked increase in grade in this part of the deposit. The deposit remains open below this intercept.
Selected intersections from the drill campaign are listed below and a complete list of results is included in Table 1 at the end of the release. As with previous analytical results from the 2007 campaign, significant platinum and palladium values were intersected in several holes.
Las Aguilas East
LA08-078: 19.67 meters with 0.58% Ni, 0.42% Cu, 0.03% Co, 0.44 g/t Pt, 0.50 g/t Pd and 0.22 g/t Au including 5.64 metres of 1.05% Ni, 0.62% Cu, 0.04% Co, 0.8 g/t Pt, 0.69 g/t Pd and 0.14 g/t Au.
Las Aguilas West
LA08-070: 18.95 metres with 0.40% Ni, 0.48% Cu, 0.03% Co, 0.23 g/t Pt and 0.31 g/t Pd
LA08-074: 15.80 metres with 0.41% Ni, 0.55% Cu, 0.03% Co, 0.40 g/t Pt and 0.38 /g/t Pd.
"We are very encouraged by this year's exploration results," stated John Hite, President of Marifil Mines "Not only has the drilling to date significantly increased the length and width of these deposits, but we've also drilled to a new depth at Las Aguilas East. Its been quite exciting to see a significant increases to the mineralization at this depth and to know that the deposit remains open. These latest results demonstrate the quality and potential of this project."
The Joint Venture is presently evaluating a number of additional regional targets, including the previously released surface occurrence known as EF-2 and the Virorco Gossan. Results from the regional drilling will be released in the coming weeks when assays are available.
Quality Control
The company employs a diligent QA/QC protocol on all aspects of the analytical procedures. Core samples are sawn and one half of the NQ core is restored to the core box for future reference and one half of the core is sent for analysis. Samples are taken in approx. 1.0-metre intervals or less when in the mineralized zone, and at 1.5 metres or less when in disseminated sulphides (<2% sulphides). Sample preparation is completed at the ALS-Chemex lab preparation lab in Mendoza, Argentina and assayed at ALS-Chemex lab in Vancouver, Canada, using multi-acid digest/ ICP-AES for the base metals and A.A. when nickel and copper are over the detection limits. Platinum, palladium and gold values are determined by 30 gram fire assay with ICP-AES finish. A blank sample is inserted every 40th sample and standard samples representing a range of grades are inserted at intervals of one in 20 to 30 samples.
All the technical information contained in this report has been reviewed and approved by Danielle Giovenazzo, Ph.D, P.Geo. a Qualified Person under the National Instrument 43101 guidelines. All the information contained herein is in compliance with the TSX Venture Exchange's Policies and National Instrument 43101.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR www.sedar.com or at Marifil's Website www.marifilmines.com. For Further Information Contact:
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Investor Relations:
Anthony Srdanovic, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 242
Phone: 1.866.684.4743 ext. 242
Email: anthony@ascentacapital.com
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Table 1: Mineralized intercepts from 2008 drill holes in the Las Aguilas West and East Deposits. Width in the table represents core length of the intersections; true width is expected to be 75% or more of the core width.
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From |
To |
Length
Metres |
Ni
% AA |
Cu
% AA |
Co
% ICP |
Pt
g/t |
Pd
g/t |
Au
g/t |
| Las Aguilas West |
| CT-LA08-068 |
No mineralization -- Did not intersect LA West intrusion |
| CT-LA08-069 |
No mineralization -- Did not intersect LA West intrusion |
| CT-LA08-070 |
110.85 |
129.8 |
18.95 |
0.40 |
0.48 |
0.03 |
0.23 |
0.31 |
0.06 |
| and |
135.25 |
140.85 |
5.60 |
0.39 |
0.48 |
0.03 |
0.32 |
0.31 |
0.07 |
| CT-LA08-071 |
213.1 |
214.82 |
1.72 |
0.58 |
0.45 |
0.04 |
0.03 |
0.50 |
0.02 |
| CT-LA08-072 |
76.35 |
83.5 |
7.15 |
0.39 |
0.46 |
0.03 |
0.23 |
0.35 |
0.06 |
| CT-LA08-073 |
No mineralization -- Did not intersect LA West intrusion |
| CT-LA08-074 |
87.75 |
103.55 |
15.80 |
0.41 |
0.55 |
0.03 |
0.40 |
0.38 |
0.15 |
| including |
88.75 |
89.75 |
1.00 |
0.37 |
0.42 |
0.03 |
1.71 |
0.33 |
0.04 |
| including |
95.5 |
86.5 |
1.00 |
0.51 |
0.74 |
0.04 |
1.29 |
0.47 |
0.05 |
| including |
100.5 |
101.5 |
1.00 |
0.40 |
0.64 |
0.03 |
1.17 |
0.36 |
0.07 |
| CT-LA08-075 |
36.3 |
39.9 |
3.60 |
0.34 |
0.41 |
0.03 |
0.12 |
0.28 |
0.03 |
| CT-LA08-076 |
No mineralization -- Did not intersect LA West intrusion |
| CT-LA08-077 |
132.25 |
132.56 |
0.31 |
halo sulphides LAW |
| CT-LA08-079 |
No mineralization -- Did not intersect LA West intrusion |
| Las Aguilas East |
| CT-LA08-078 |
286.13 |
305.8 |
19.67 |
0.58 |
0.42 |
0.03 |
0.44 |
0.55 |
0.22 |
| including |
296.66 |
302.3 |
5.64 |
1.05 |
0.62 |
0.04 |
0.80 |
0.69 |
0.14 |
| and |
296.66 |
297.6 |
0.94 |
0.78 |
0.93 |
0.03 |
1.81 |
0.36 |
0.50 |
| and |
301.83 |
302.3 |
0.47 |
1.47 |
1.05 |
0.05 |
2.82 |
0.08 |
1.21 |
FIGURE 1: Location Map of Las Aguilas 2008 drill holes.
FIGURE 2: Vertical Longitudinal section of the Las Aguilas East deposit looking 260 degrees west, with Castillian 2007nd 2008 drill hole pierce points.
FIGURE 3: Vertical Longitudinal section of the Las Aguilas West deposit looking 295 degrees west, with Castillian 2007 and 2008 drill hole pierce points.
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.
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Forward-Looking Statements
This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the timing for resource modeling and the preparation of a 43-101 compliant technical report. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
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