Tuesday, April 15, 2008
Marifil Mines Announces Start of Drill Program at Las Aguilas East & West
Spokane, Washington -- April 15, 2008: Marifil Mines (TSXV: MFM) is pleased to announce its JV partner, Castillian Resources Corp. (TSX: CT), has commenced a drill program consisting of 5,000 metres to be drilled in the first half of 2008 at the Las Aguilas East and West deposits, Argentina (Figure 1).
The proposed holes are designed to extend the nickel-copper-PGE (platinum group elements) mineralization in the Las Aguilas West and East deposits as well as initiate evaluation of several other occurrences within six kilometres of the deposits. Castillian expects to extend this program, contingent on results of the drilling and in conjunction with follow up of the 3,500 kilometre airborne EM survey which is presently being flown over the priority areas of the 80 kilometre long property (see press release dated April 1, 2008).
The Las Aguilas East deposit (Figure 2, 3, 4) is associated with the eastern part of a 100 metre wide variably differentiated mafic to ultramafic intrusion. The mineralization has been intersected along a 200 metre strike length and down to a vertical depth of 225 metres. The shape of the mineralized zone is close to tubular with 45 to 50 degree dips to the east near surface, gradually becoming sub-vertical at depth and to the South. It still remains open at depth. The mineralized zone of Las Aguilas East is associated with a strong TEM (Time-Domain Electromagnetic) anomaly on the moving loop ground survey which was conducted last December by Quantec Geophysics Argentina. The planned 2008 drilling will evaluate the extension of the deposit at depth.
The Las Aguilas West deposit (Figures 2,3,4) has been intersected by drilling to a depth 200 metres and a total length of 400 metres. Drilling has only tested to approximately 75 metres depth on the northern and southern ends of the deposit. The mineralization is associated with a 10 to 30 metre wide melagabbro norite to pyroxenite intrusion into garnet bearing paragneisses. The dips are variable from sub-vertical to the east to sub-vertical to the west in the southern part.
This mineralized intrusion has an excellent magnetic response and can be followed using the magnetic trend for an additional 200 metres south of the 2007 drilling program (Figure 2). This area will be targeted first by the 2008 proposed drilling. There are strong TEM anomalies in the central portion of the Las Aguilas West mineralized dyke that will also be drilled. The Las Aguilas West deposit remains open in all directions. Drilling is designed to be done on approximately 50 metre step outs between drill holes.
Drill holes are planned for several untested, high priority targets to the north of the Las Aguilas deposits. These include occurrences at Virorco, El Fierro and Las Higuerras (see press release dated April 1, 2008). Each of these is characterized by the presence of gossans which are interpreted to represent the weathering of sulphide minerals. These gossans are hosted by rocks similar to the Las Aguilas deposits and, as such, have potential to host nickel sulphide mineralization and are geochemically anomalous in nickel, copper and PGE.
In 2007, Castillian completed a total of 11,025 metres of drilling in 67 drill holes with the objective of confirming and extending the Las Aguilas East and West deposits and evaluating the PGE concentrations. The PGE were not systematically assayed by previous exploration companies. A preliminary in-house resource estimate is in progress by Castillian's resource geologist and an NI 43-101 resource estimate will be completed thereafter. The resource is described as "preliminary" because both deposits remain open for further expansion.
The Las Aguilas and San Luis projects are option joint ventures with Castillian Resources (TSX: CT).
Quality Control
Danielle Giovenazzo Ph.D, P.Geo has reviewed the scientific and technical information in this press release and is a qualified person as defined by National Instrument 43-101.
John Hite, PGeol, President and Chief Executive Officer of Marifil and David Gower, PGeo, President and Chief Executive Officer of Castillian, both of whom are qualified persons as defined by NI 43-101, have reviewed this release.
About Marifil Mines Ltd.
About Marifil Mines Ltd.
Marifil Mines Ltd. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "MFM" with approximately 31.8 million shares issued and outstanding. Marifil operates under a Joint Venture Model whereby the company acquires properties, adds value by geologic mapping, trenching, geophysics, and/or drilling and then seeks qualified partners to earn their interest by advancing the property to production. Castillian is earning an interest in the Las Aguilas Nickel-Copper-PGM Project in Argentina from Marifil Mines Ltd.
About Castillan Resources
Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" with approximately 87.8 million shares issued and outstanding. The company is earning an interest in the Las Aguilas Nickel-Copper-PGM Project in Argentina from Marifil Mines Ltd. and has the right to purchase a 100 percent interest in the Kagera Project which comprises over 1,600 square kilometres in the highly mineralized Kabanga Nickel Belt in Tanzania and rights to acquire 90 percent of the Pederson deposit, an advanced gold exploration project in Bolivia which is currently under force majeure.
For Further Information Contact:
Head Office:
John Hite, President
Phone: 509.466.1505
Email: info@marifilmines.com
Website: www.marifilmines.com
Investor Relations:
Anthony Srdanovic, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 242
Toll Free: 1.866.684.4743 ext. 242
Email: anthony@ascentacapital.com
The TSX Venture Exchange does not accept responsibility for the adequacy or the 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 and similarities drawn to other deposits, estimates regarding the timing for resource modeling, future drill programs 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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