MARIFIL FILES NI 43-101 REPORT ON LITHIUM IN SALTA PROVINCE
The Company's four cateos are located within two separate areas -- Salar Llullaillaco and Salar Ratones (see Figure 1). The Salar Llullaillaco cateos cover 3,457 hectares while the Salar Ratones cateos cover 19,600 hectares. The properties are located on the Puna plateau, a high basin-like plateau covering portions of Argentina, Chile, and Bolivia. The cateos cover portions of salt lakes (salars) and adjacent alluvial fans. The two Llullaillaco cateos lie along the eastern margin of the Salar Llullaillaco, covering a vast alluvial fan that lies on the eastern margin of the salar. The two Ratones cateos cover part of the Salar de los Ratones.
The Puna plateau contains the majority of the world's largest known lithium-brine resources, making this area attractive to many mineral exploration companies. Lithium brines have been recognized as the lowest cost source for lithium resources. The Puna plateau has been called the "Saudi Arabia of lithium".
The NI 43-101 report recommends a two-phase program for a total cost of $610,000. Phase I, at a cost of $150,000, comprises additional sampling and geophysical work. Phase II, at a cost of $460,000, will include 2,000 meters of drilling. This program should be sufficient to carry out an NI 43-101 compliant ore resource calculation for at least one of the claims.
"The Company has now filed two NI 43-101 reports for these claims and for several groups of claims in neighboring Catamarca Province," stated John Hite, President of Marifil Mines. "In line with our corporate strategy, we now plan to farm out one, or more, of these projects to either well-funded junior resource companies or to Capital Pool Companies (CPC) who are looking for a qualified project. These lithium brine prospects make ideal projects for junior companies because the exploration costs are relatively low, resource calculations can be made quickly, and the capital expenditures necessary to build a plant are generally much cheaper than for a comparably sized gold or base metal project."
For information on the recent NI 43-101 report on the neighboring Catamarca province, please see the company's press release dated December 14, 2009.
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.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
Contacts:
John Hite, President (509) 467-5200
Hugh Oswald, Investor Relations,
hugh@ascentacapital.com
(604) 684-4743 ext. 243
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 regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
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.
Marifil Files NI 43-101 Report on Lithium in Catamarca Province
The NI 43-101 report recommends a two phase program for a total cost of $1,500,000. Phase I, at a cost of $225,000, will be comprised of additional sampling and geophysical work. Phase II, at a cost of $1,275,000, will include 7,900 meters of drilling. This program will be sufficient to carry out an NI 43-101 compliant ore resource calculation on at least two or more of the claims.
The Company has completed some initial economic model studies showing that an area as small as 1,000 hectares could contain more than 250,000 tons of recoverable lithium from a brine column 25 meters thick, grading 200 parts per million lithium, assuming a porosity of 8%, a brine density of 1.3 grams per cubic centimeter, and an overall recovery factor of 50%. Equally important, our exploration model suggests that this resource might be partially renewable from ground water influx.
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.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
Contacts:
John Hite, President (509) 467-5200
Hugh Oswald, Investor Relations,
hugh@ascentacapital.com
(604) 684-4743 ext. 243
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 regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer or other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
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.
Marifil Finds Lithium In Catamarca Province
Initial prospecting was carried out by digging holes up to 2 meters deep and sampling saline crusts and/or brine (salty water) samples if brines were present. The map below shows the location and approximate values of lithium found in this initial exploration program.
Anomalous amounts of lithium, boron, and potash were found on the Company's Antofalla II and Cachari Pampa claims. The assays are summarized below.
A National Instrument 43-101 report is in preparation and the Company expects to have this report completed within ten days. Meanwhile the Company will be mobilizing one of its teams to this area to carry out more detailed sampling.
"While some of these samples contain anomalous amounts of lithium, boron, and potassium and are highly encouraging . more work is necessary to better understand the claims," stated John Hite, president of Marifil Mines. "We will be mobilizing a crew to carry out more closely spaced sampling as well as to sample some new claims the Company has staked in Jujuy Province.
CLick Here to Enlarge
TABLE 1
SAMPLE ID |
Boron (ppm) |
Calcium (ppm) |
Potassium (ppm) |
Lithium (ppm) |
Magnesium (ppm) |
17033 |
4 |
41 |
66 |
2 |
45 |
17034 |
4 |
40 |
68 |
2 |
46 |
17035 |
380 |
109 |
4636 |
171 |
2854 |
17036 |
531 |
157 |
6854 |
261 |
4000 |
17040 |
1 |
188 |
75 |
2 |
84 |
17041 |
16 |
43 |
360 |
9 |
31 |
17042 |
524 |
722 |
8531 |
823 |
1914 |
17044 |
13 |
693 |
773 |
3 |
250 |
17045 |
182 |
2418 |
2352 |
89 |
233 |
17046 |
28 |
47054 |
237 |
3 |
263 |
17047 |
11 |
628 |
314 |
5 |
412 |
17048 |
13 |
999 |
594 |
7 |
381 |
17049 |
13 |
2300 |
544 |
10 |
1028 |
17050 |
100 |
71206 |
537 |
17 |
798 |
17051 |
63 |
54999 |
361 |
9 |
489 |
17052 |
0 |
0 |
0 |
0 |
0 |
17053 |
1 |
93 |
9 |
1 |
11 |
17054 |
59 |
63077 |
448 |
13 |
691 |
17055 |
46 |
2349 |
289 |
6 |
137 |
17057 |
7 |
85 |
34 |
2 |
49 |
17058 |
255 |
2054 |
2499 |
119 |
2182 |
17059 |
45 |
1997 |
424 |
25 |
562 |
17060 |
3 |
54 |
48 |
2 |
25 |
17061 |
2 |
8 |
74 |
1 |
6 |
17062 |
1 |
28 |
28 |
1 |
14 |
17063 |
50 |
2276 |
448 |
25 |
599 |
17064 |
163 |
2241 |
2080 |
89 |
1789 |
Note: all assays are reported in parts per million (ppm). One ppm is equivalent to one milligram per litter.
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.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR or at Marifil's website.
Contacts:
John Hite, President (509) 467-5200
Hugh Oswald, Investor Relations,
hugh@ascentacapital.com
(604) 684-4743 ext. 243
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 regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
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.
Marifil Acquires Lithium Project
The claims in Catamarca Province cover an area of about 19,200 hectares. Two of the claim groups cover portions of the Salar de Antofalla and Salar de Ratones which are known as lithium bearing salars. A third group of claims coves parts of the Cachari Pampa Salar; an area where salars border a modern volcano, a good prospective feature in the lithium brine exploration model.
The Company has also signed an agreement with a private individual to purchase a 100% interest in the Mina Rosa II and Mina Rosadita II lithium claims covering an alluvial fan bordering the Llullaillaco salar (dry lake bed) in Salta Province, Argentina.
The Llulluaillaco salar is one of numerous salars marking the Puna Plateau which covers large portions of northwestern Argentina, northwestern Chile, and southern Bolivia. This plateau hosts the largest concentrations of lithium brines in the world.
Under the terms of the agreement Marifil agrees to pay $640,000 over six years to acquire a 100% interest in these claims. The seller retains a 1.5% royalty which the Company can purchase for $800,000.
Assays from a water well located three kilometres southeast of the claims and in the same alluvial fan contain, respectively, 103, 106, and 108 mg/l (milligrams per liter) (1mg/l = 1 ppm = 1g/t) lithium and published samples from other parts of the salar contain 180 to 280 mg/l lithium as well as important amounts of potash and boron. For reference, a lithium brine mine in the United States is producing from brines grading about 150 mg/l lithium.
Lithium is rapidly becoming a strategic metal and demand is expected to increase at an annual rate of 7%. The largest rate of growth will come from lithium used in batteries to power hybrid automobiles.
Company geologists have begun an exploration program to test this property and other salars on the Puna plateau. The Company has mobilized an exploration team to the project area and expects to produce an NI 43-101 report on these properties as soon as possible.
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.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
Contacts:
John Hite, President (509) 467-5200
Hugh Oswald, Investor Relations,
hugh@ascentacapital.com
(604) 684-4743 ext. 243
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 regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
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.
Marifil Mines Acquires Large Sulphur Target
Mr. John Hite, President of Marifil comments, "During the past six months sulphur prices have fallen from a high of over $700 per ton to about $50 per ton. This fall in prices is in line with those of most other commodities. Nevertheless, people still have to eat and the maturing countries of South America offer huge, growing markets for fertilizers. Argentina and Chile will also require large amounts of sulphur for acid to treat oxide copper deposits. For these reasons we believe that Codihue offers a lucrative target of opportunity for future development."
This acquisition is an outgrowth of Marifil's highly successful Neuquén Basin potash program and involves much the same sedimentary evaporite formations. Geologic features indicative of a very large subsurface, stratabound biogenic sulphur deposit were recognized in the Codihue area. Marifil's pioneering work found widespread sedimentary rock outcrops at Codihue that strongly resemble those of the Mishraq sulphur deposit in Iraq. Mishraq is the largest known biogenic sulphur deposit in the world, originally containing about 250 million tons of sulphur.
Surface evidence for an underlying sulphur deposit target at Codihue is very strong, and includes a gypsum horizon more than 200 meters thick projecting into the target area, a large collapsed anticlinal structure with karst-collapse features, deep-seated fractures, sulphurous springs, and outcrops of biogenetically altered evaporates resulting in porous beds of biocalcite. All evidence indicates that the gypsum is replaced by limestone.
About Sulphur
Biogenic sulphur deposits occur where hydrocarbons react with overlying gypsum deposits in the presence of anaerobic bacteria to reduce the sulphate ions of gypsum to polysulphides and/or hydrogen sulphide gas. The sulphides and hydrogen sulphide gas are oxidized to native sulphur in an anaerobic (oxygen free) environment.
This process results in a 40% volume reduction of the gypsum as it is transformed into beds of biocalcite, or bioepigenetic limestone. The resulting loss of volume creates karsting and collapse features.
Biogenic sulphur deposits are amenable to solvent extraction by the Frasch process whereby hot water plus compressed air are forced down a triple tubed well and molten sulphur is lifted to the surface. The liquid sulphur can be shipped directly to end users. Sulphur's largest use is in fertilizer but demand for sulphur to make sulphuric acid for leaching oxide copper deposits and uranium is a large and growing market. Argentina does not produce significant sulphur and Chile, Peru and Brazil are net importers.
For further information on the Company and its projects, please refer to Marifil's website: www.marifilmines.com.
For Further Information Contact:
Head Office:
John Hite, President
Phone: 509.466.1505
Email: info@marifilmines.com
Website: www.marifilmines.com
Investor Relations:
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
Toll Free: 1.866.684.4743 ext. 225
Email: jim@ascentacapital.com
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 regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.
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.