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Marifil Mines Ltd.
Summary
| Project: | San Roque | |
|---|---|---|
| Deposit: | San Roque | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 10/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-10-2018: Marifil Mines Ltd. announces an Exploration/Drilling Update report for its San Roque deposit at the San Roque project. Drilling results incl. 53.0m @ 1.10g/t Au, 4g/t Ag, 241ppm Pb, 265ppm Zn from 2m. Vancouver, British Columbia (October 17, 2 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Richard Walters (Internal) | |
| ABSTRACT: | Vancouver, British Columbia (October 17, 2018) – Marifil Mines Limited (TSX.V: MFM, OTCQB: MFMLF) ("Marifil" or the "Company") is pleased to announce that it has received all assay results for its 2018 San Roque property diamond core drilling program as initially reported in the Company's press release titled "Marifil Reports San Roque Drilling Preliminary Results", dated September 11, 2018. The San Roque property (the "Property") is 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 Marifil’s wholly owned subsidiary Marifil Mines S.A. (51%) and NOVAGOLD RESOURCES INC.’S (NYSE: NG, TSX: NG) wholly-owned subsidiary NovaGold Argentina Inc. (49%). Marifil is the project operator. The Property is an advanced stage exploration property which encompasses a polymetallic mineral deposit of precious and base metals. It exhibits widely distributed low grade gold-silver-lead-zinc mineralization in veins, stockworks, fractures, breccia fillings, and disseminated sulfides in breccia zones, primarily within volcanic rocks. Company geologists hypothesize this mineralization may have migrated upward from a deep-seated porphyry copper-molybdenum-gold system. The Minas San Roque S.A. partnership has invested about US$8 million into the exploration of the Property, where there are now 112 drill holes tallying 16,683 meters. Every one of these drill holes has intercepted some degree of mineralization, indicating an extensive and largely unexplored system of hydrothermal mineralization over several square kilometers. All of the known zones of mineralization are open to expansion by continued drilling. Equally important, mineralization at these drill holes frequently starts at surface and has been followed to the bottom of the deepest holes, about 200 vertical meters. The Company intends to focus on furthering the evaluation of the Property. | |
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