Marifil’s La Aguilas property is located in the geographic heart of Argentina in a region of good infrastructure.
More than US$15 million has been spent on the Las Aguilas property. The property is held by 359 hectares of patented mining claims 100% owned by Marifil. The property is not subject to any private royalties.
Geologically, it belongs to the magmatic segregation model for mineral deposits. Sulfur rich ultramafic plutons produce immiscible sulphide phase droplets in a silicate liquid from which various nickel, copper and cobalt crystalize as the settle to the base of the magma chamber. Las Aguilas plutons intrude very old gneissic basement rock. Disseminated and semi-massive sulfides of base and precious metals occur within embayments at or near the bottoms of their host mafic/ultramafic intrusives.
Diamond core drill totals 144 holes for more than 27,000 meters. Various airborne and ground geophysical surveys have been completed. These works are the subject of two 43-101 reports with one describing a 43-101 resource.
Together, all resource classes total 4.6 million tonnes at 0.41% Ni, 0.41% Cu 0.03% Co with significant precious metals (PGM+Au&Ag) credits. There are two deposits about 300 meters apart. They are both is open to resource expansion by continued drilling.
Good metallurgical recovery has been indicated by pilot scale flotation test on a 30 tonne bulk sample obtained from a mine tunnel. Cobalt is currently estimated to be around 20% of the value of the recoverable economic minerals.