Marifil Commences NI 43-101 Technical Report and Updates San Roque Progress
Vancouver, British Columbia (March 21, 2019) – Marifil Mines Limited (TSXV: MFM) (OTC: MFMLF) (“Marifil” or the “Company”) announces it has commenced work on generating a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report (the “Technical Report”) with a mineral resource estimation for the Company’s San Roque property (“San Roque” or, the “Property”). The Property contains a polymetallic mineralization containing gold as the principal commodity with significant values of silver, indium, lead and zinc.
San Roque is a district scale project comprising 37,055 hectares of mine rights, of which 9,449 are perfected for exploitation (referred to as “Pertinencias”) and private royalty free claims, located near the Atlantic coast in the Province of Rio Negro, Argentina. The Property is held by Minas San Roque S.A., which is jointly owned by the Company’s wholly-owned subsidiary Marifil Mines S.A. (51%) and NOVAGOLD RESOURCES INC.’s (TSX: NG) (“NovaGold”) wholly-owned subsidiary, NovaGold Argentina Inc. (49%). The Company currently acts as project operator for the Property.
To prepare the Technical Report, the Company has retained the services of Tetra Tech Canada Inc. (“Tetra Tech”). Tetra Tech is a prominent, global consulting firm with a reputation for high quality scientific and engineering work. In addition to the production of the Technical Report, the proposed scope of work includes a site visit for the collection of independent samples, data verification, the development of a geological model and the development of a resource estimate. The Company expects the Technical Report to be completed and publicized next fiscal quarter.
Last year, the Company completed the latest of a series of drilling campaigns on the Property. The results of that work are presented in a report entitled “San Roque Project 2018 Drilling Program” dated December, 2018, which is now posted on the Company’s website: www.marifilmines.com. This latest round of drilling brings the total number of exploration drill holes on the Property to 112 totaling 16,683 meters of drillings. Of these drill holes, 11 are of reverse circulation drilling and 101 are of diamond core drilling, which generates higher quality sampling data.
The Company is also currently commencing a program aimed at achieving bench-scale metallurgical recovery test results in the coming months, which the Company believes could add further value to the deposit.
Mr. Robert Abenante, President and CEO of Marifil observed, “We are very encouraged with the progress at San Roque and are excited to see the results of the NI 43-101.”
San Roque is comprised of 37,055 hectares in the mining friendly province of Rio Negro, Argentina. Unlike the high altitudes in the North Andes of Argentina, the Property sits at low elevation on very flat terrain. Further, the Property is only 65 kilometers from an ocean port, which can be reached via rail or high-volume highway, which both perimeter the Property. The Property is also perimetered by high voltage power lines.
The expressed opinions and factual and other information contained within this document has been prepared and approved by Richard R. Walters, Executive Vice President, Exploration and a director of the Company. Mr. Walters is a “Qualified Person” as defined under NI 43-101, and is the person under whose directions the San Roque, Argentina mineral exploration program has been carried out over the last year. Mr. Walters is a certified Professional Geologist by the American Institute of Professional Geologists.
ON BEHALF OF MARIFIL MINES LIMITED
Robert Abenante, President & CEO
Phone: 1-833-669-MINE (6463)
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).
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