Marifil Mines Reports Drilling Initiated on New High Grade Nickel-Copper Discovery, San Luis Property, Argentina
Vancouver, British Columbia CANADA, June 04, 2008 /FSC/ - Marifil Mines Ltd. (MFM - TSX Venture, MFMLF - OTCBB_Pink_Sheets), notes its Joint Venture partner, Castillian Resources Corp., has begun diamond core drilling of the nickel-copper rich gossan on the EF-2 target on its San Luis, Argentina property. EF-2 is a recently discovered prospect of what is potentially a third body of magmatic nickel-copper sulphide mineralization on the property. The new discovery is located approximately 6.5 kilometres along trend of the ultramafic host rocks to the north of the East and West Las Aguilas deposits where Castillian has been engaged in pattern drilling for resource definition.
Dick Walters, Executive VP of Marifil Mines said, "We appreciate the vigour and competency in which Castillian has tackled exploration of this intriguing property, and the great results it's generating. The favourable zone is 100 kilometres long with many airborne geophysical and geochemical anomalies yet to be examined. I believe continued prospecting will prove it to be a fertile belt for more discoveries of magmatic segregation type nickel-copper deposits laden with PGM."
Castillian reports recent assay results from additional outcrop sampling (Figure 1) contained very high grade nickel and copper values including:
Sample 191667 with 12.45% Cu and 1.58% Ni in a weathered pyroxenite; and
Sample 191676 with 3.84% Cu and 2.15% Ni in a weathered pyroxenite.
Castillian geologists characterize the samples as a series of chipped grab samples taken from outcrop exposures distributed over an approximate 55 metre by 20 metre area where surface mineralization is observed (see Figures 2 and 3). The actual dimensions of the zone are unknown as the contacts are covered by overburden. A total of 26 grab samples were collected from various sites distributed across the exposure and the analytical results for all samples are listed in Table 1. Of these 26 samples, seven contained greater than one percent nickel and copper values (see Table 1).
The mineralization is characterized by secondary copper and nickel minerals, including malachite, azurite and annabergite (also called nickel bloom), distributed throughout the pyroxenite rock. Locally gossan, which is characterized by massive iron oxide minerals including hematite, goethite and magnetite, is developed. Iron oxide-rich gossans such as these commonly form as a surface weathering product of massive to semi-massive sulphide zones. Castillian geologists interpret the secondary copper and nickel minerals to be the weathered equivalent of sulphide mineralization.
Diamond core drilling is in progress to determine the presence and grades of any underlying sulphide mineralization. It is possible that there is a component of secondary enrichment associated with some of the higher grades. The mineralization is coincident with a series of high priority geophysical (VTEM) conductors that extend 400 metres north from the EF-2 zone.
Castillian reports a second gossan (labelled EF-3 on Figure 2) consisting mostly of iron oxides, hematite, goethite and magnetite, was discovered approximately 330 metres north of the EF-2 area. The best result from this gossan is from Sample 191688 with 0.58% Ni, 0.36% Cu, 0.589 g/t Pd and 0.272 g/t Pt. It is not known at this time whether this is an extension of the EF-2 Zone or a separate occurrence. The remainder of the assay results from samples taken from EF-3 are compiled in Table 1.
John Hite, President of Marifil Mines said, "Based on the VTEM conductor associated with EF-2, the mineralized zone could extend along the strike of the ultramafic host rocks to EF-3. These are absolutely virgin prospects that comprise a large and exciting target capable of exceeding many millions tonnes of mineralization. We will not know the true potential of this zone until drilling penetrates beneath the weathered rocks."
To view the EF-2 Zone Assay Data table, please click on the link provided: http://www.usetdas.com/marifil/ef2zoneassaydata.pdf
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Quality Control
Danielle Giovenazzo Ph.D, P. Geo has reviewed the scientific and technical information in this press release. Dr Giovenazzo is a qualified person as defined by National Instrument 43-101.
Sample preparation is completed at the ALS-Chemex lab preparation lab in Mendoza, Argentina and assayed at ALS-Chemex lab in Vancouver, Canada, using multi-acid digest/ ICP-AES for the base metals and A.A. when nickel and copper are over the detection limits. Platinum, palladium and gold values are determined by 30 gram fire assay with ICP-AES finish. A blank sample is inserted every 40th sample and standard samples representing a range of grades are inserted at intervals of 1 in 20 to 30 samples.
This press release has been reviewed and approved by John Hite, President of Marifil Mines 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.
About Marifil Mines Ltd.
Marifil Mines Ltd. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "MFM" with approximately 34.5 million shares issued and outstanding. Marifil operates under a Joint Venture Model whereby the company acquires properties, adds value by geologic mapping, trenching, geophysics, and/or drilling and then seeks qualified partners to earn their interest by advancing the property to production. Castillian is earning an interest in the Las Aguilas nickel-copper-PGM project in Argentina from Marifil Mines.
About Castillan Resources
Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" with approximately 88 million shares issued and outstanding. Castillian has a 100 percent interest in the Kagera Project, which comprises over 1350 square kilometres in the highly mineralized Kabanga Nickel Belt in Tanzania, an option to purchase a 100 percent interest in the approximately 153,000 ha Mangabal nickel-copper project in Brazil from Xstrata Nickel. The company is earning an interest in the Las Aguilas nickel-copper-PGM project in Argentina from Marifil Mines Ltd., and has rights to acquire 90 percent of the Pederson deposit, an advanced gold exploration project in Bolivia which is currently under force majeure.
For further information on the company and its projects, please refer to Marifil's website (www.marifilmines.com).
Figure 1: Location Map, San Luis Project.
To view the Location Map, San Luis Project, please click on the link provided: http://www.usetdas.com/marifil/locationmap.pdf
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Figure 2: San Luis Project priority VTEM anomalies on Regional Geology map showing the location of EF-2 and the EF-3 nickel and copper rich gossans.
To view the San Luis Project priority VTEM anomalies on Regional Geology map, please click on the link provided: http://www.usetdas.com/marifil/vtemanomalies.pdf
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Figure 3: Detailed map of the EF-2 gossan with analytical results from the grab samples and proposed diamond drill holes.
To view the Detailed map of the EF-2 gossan, please click on the link provided: http://www.usetdas.com/marifil/ef2gossan.pdf
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For Further Information Contact:
Head Office:
John Hite, President
Phone: (509) 466-1505
Email: info@marifilmines.com
Website: www.marifilmines.com
Investor Relations:
Anthony Srdanovic, Ascenta Capital Partners Inc.
Phone: (604) 684-4743 ext. 242
Toll Free: 1-866-684-4743 ext. 242
Email: anthony@ascentacapital.com
Source: Marifil Mines Ltd. (MFM - TSX-V) (MFMLF - Pink Sheets) http://www.marifilmines.com
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