San Roque Drilling to Begin in March
-- Marifil
Mines Ltd. (TSXV: MFM) ("Marifil" or "the Company") announces
that NovaGold Resources Inc. ("NovaGold") will begin drilling on the San Roque property in March 2011. NovaGold
has received all necessary drilling permits and the drill contract is in
place.
San Roque is a 70,000 hectare property
containing a large sulphide system defined by
an induced polarization ("IP") survey and widespread drilling
over an area measuring at least 3 kilometres by
4 kilometres. This area is the site of a
coincident lead-zinc-gold-silver anomaly in soils. Marifil
believes this mineralization lies within a collapsed caldera or diatreme (a breccia-filled volcanic vent formed by
gaseous explosives) structure. Base and precious metal mineralization
occurs throughout the sequence of volcanic rocks and also extends into
the older underlying basement schists.
"Marifil is modeling San Roque's sulphide system
after that of Goldcorp's Penasquito deposit in
Mexico, which contains over 18 million ounces of gold and a billion
ounces of silver," stated Richard Walters, Executive Vice-President
of Marifil Mines. "We are excited to see
the drill program moving ahead and look forward to seeing the results
later this year."
For further information on the Company and its
projects, please refer to Marifil's website:
www.marifilmines.com.
For Further Information
Contact:
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.
General
Disclaimer
Marifil
Mines Ltd. "Marifil" has taken all
reasonable care in producing and publishing information contained in this
news release, and will endeavor to do so on a
periodic basis. Material in this news release may still contain technical
or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations
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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, the potential
to identify new resources or expand existing resources at the San Roque project, and the geologic similarity to other
projects. 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.
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