Vancouver, British Columbia (June 28, 2018) – Marifil Mines Limited (TSXV: MFM) (“Marifil” or the “Company“) is pleased to report that it has successfully completed its previously announced diamond core drilling program at the San Roque property (the “Property“) in the Rio Negro province of Argentina. The Property is held by Minas San Roque S.A., which is jointly owned by Marifil’s wholly-owned subsidiary, Marifil Mines S.A. (51%), and NOVAGOLD RESOURCES INC.’s (TSX: NG) wholly-owned subsidiary, NovaGold Argentina Inc. (49%). Marifil is the project operator.
The drill program consisted of four drill holes for a total of 846.5 meters. The following table shows the location and main features of the four drill holes:
(POSGAR, SHEET 2)
|AZIMUTH||DIP||TOTAL DEPTH (m)||DATE|
“This drilling campaign was nicely executed and done so within budget by our Argentinean crew. From the look of the drill cores, we are hopeful for some favorable results,” stated Richard Walters, Professional Geologist and Vice President of Marifil.
Drill holes MSRDDH-56 and MSRDDH-59 continued delineation of the Zone 34 gold zone as step-outs off of DDHMSR0034 (-60°). MSRDDH-56 is 50 meters from DDHMSR0034 along the structural strike of the mineralization and MSRDDH-59 is 50 meters from DDHMSR0034 at a right angle to the strike of the mineralization as a downward extension or down dip test.
Drill hole MSRDDH-57 is a 600 meter exploratory step-out along a linear geophysical (induced potential chargeability) anomaly off of, or connecting to, Zone 33. Drill hole MSRDDH-58 is drilled as a 50 meter step-off from DDHMSR0033. Down hole surveys were completed on all four holes. Drilling on the Property now totals 16,683 meters for 112 holes.
The drill has been demobilized but the Company’s field crew remains working on site. All the cores are being geologically logged and geotechnical data on the cores is being obtained as well. Sampling by sawing the cores lengthways in half is in progress and one half of the cut cores will be shipped for assay by Alex Stewart Argentina S.A. (ISO 9001:2015 certified) in Mendoza, Argentina. So far, 185 of an expected 600 core samples (including quality control samples) have been delivered to the laboratory.
The Company is carrying out a very careful and systematic quality assurance/quality control program on the drill cores, which includes insertion of blanks, standards and duplicate samples at the rate of 5% of all samples. An independent consulting geochemist has been retained by the Company to statistically analyze the credibility of assay returns and report his findings. The Company intends to report on the drilling assay results for all four drill holes as soon as all assays are completed and the quality assurance/quality control analysis has been completed.
In addition, a limited backhoe trenching program to further examine the surface extent of the Zone 34 gold zone has been completed. A trench (#1) of 36 meters in length has been dug approximately 200 meters to the north of drill hole MSRDDH-0034 in an area where prolific pebbles of iron and manganese oxides permeate the soil. A silicified zone approximately 6 meters wide was exposed. A second trench (#2) of 49 meters in length was also dug from the drill hole collar of MSRDDH-59 along the azimuth of that hole running beneath it. Geological mapping and sampling of both trenches is in progress. Power saws are being used to cut continuous channel samples along the floors of the trenches. In Trench #2, a trace of visible gold was identified in the heavily iron and manganese oxide stained volcanic rock.
This press release has been reviewed and approved by Robert Abenante, CEO of Marifil, and by Richard Walters (P. Geo), Executive Vice President of Marifil. Mr. Walters is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ON BEHALF OF MARIFIL MINES LIMITED
Robert Abenante, President & CEO
For further information regarding Marifil Mines Limited, please refer to the Company’s filings available on SEDAR (http://www.sedar.com) or at Marifil’s Website (http://www.marifilmines.com).
Marifil Mines Limited “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.
This news release contains 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 Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.