News

December 10, 2012

Marifil Identifies Oxide Gold At San Roque: Potential Heap Leach Gold Deposit

MARIFIL MINES LTD. (MFM: TSX-V) ("Marifil" or "the Company") announces it has identified a potential heap leachable gold deposit at the Zone 34 area on its San Roque Property, Rio Negro Province, Argentina. 

 

Zone 34 includes two sub-parallel linear gold bearing structures about 125 meters apart, each exceeding 200 meters in length, named the west system and the east system.  Both systems are hosted by a rhyolite crystal lithic tuff which has been shattered, silicified, and cut by stockwork quartz-pyrite-gold-silver veinlets.  Mineralization is thoroughly oxidized to a depth of 30 to 35 meters. 

 

Zone 34 represents a sparsely explored sector of the property which differs markedly from the focus area of past drilling as it lacks significant base metal and indium mineralization. This absence of base metals, especially copper, enhances the leachability of precious metals mineralization.

 

The last episode of drilling on the property ended with diamond drill core hole DDHMSR-0034 returning 35 m (oxidized) of 2.27 g/t Au and 42.6 g/t Ag from surface down followed by 37.5 m (unoxidized) of 1.12 g/t Au and 15.3 g/t Ag from 155.5 m to 193.0 m. These intercepts average less than 0.01% Cu, 0.10% Pb and 0.15% Zn.

 

The east system is defined by nine drill holes, including DDHMSR-0034, with an average thickness of 16.8 meters and a weighted average grade of 3.18 grams per ton gold.  The west system is defined by six holes with an average thickness of 14 meters and a weighted average grade of 1.50 grams per ton gold. 

 

Company geologists are preparing composite samples from drill core coarse rejects for metallurgical testing to determine whether this deposit can be exploited by low cost heap leach extraction.  The Company is preparing for laboratory bottle roll cyanide leach tests to be quickly completed.  If these results are positive then column leach tests will follow to further determine gold leachability characteristics. 

 

On Behalf of the Board of Directors,

 

John Hite

President



 

Head Office:
John Hite, President
Phone: 702.562.4880
Email: info@marifilmines.com
Website: www.marifilmines.com

Investor Relations:
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
Email: hugh@ascentacapital.com



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.)



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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