- Rising global demand for cobalt and lithium is generating interest in Marifil Mines and its resources located within South America’s famed “Lithium Triangle”
- Company recently completed four new drill holes in search for gold on secured property in Argentina’s northern Patagonian region
- Up to 600 core samples are being shipped to a certified laboratory for assay, with management optimistic about “favorable results”
Marifil Mines Ltd. (TSX.V: MFM) (OTCQB: MFMLF) is awaiting official assay results from hundreds of core samples taken during its diamond core drilling program at the San Roque property in the Rio Negro province of Argentina.
The San Roque project is jointly owned by Marifil’s wholly owned subsidiary, Marifil Mines S.A. (51 percent), and NovaGold Argentina Inc., a wholly owned subsidiary of Novagold Resources Inc. (TSX: NG) (49 percent), with Marifil serving as the project operator of the drilling campaign. The company’s primary focus is on exploring for gold, cobalt and lithium – three metals that the world is rapidly consuming and anxiously seeking (http://ibn.fm/YRf6J).
Following the successful completion of the drilling program at San Roque, there is still much yet to be done, Marifil Vice President Richard Walters stated in a news release detailing the exploration efforts (http://ibn.fm/srFWt). Walters, a certified professional geologist by the American Association of Professional Geologists and a qualified person by Canadian National Instrument 43-101, said that the company is “hopeful for some favorable results.”
The drill cores taken during Marifil’s recent campaign are undergoing geological reporting procedures to retrieve data. Core sampling, involving sawing the product in half lengthways, is underway by field crews still in place. One half of each core will be shipped to labs in Mendoza, Argentina, for assay. The company expects to ship core samples from a selection of about 600 entries that includes blanks, standards and duplicate samples to ensure a very careful and systematic quality assurance/quality control program on the drill cores.
“The drilling at our flagship asset at San Roque has been highly anticipated by the Company and its stakeholders for many years,” Marifil President and CEO Robert Abenante stated in a June 6 press release announcing the resumption of drilling at the property (http://ibn.fm/yLSe7). “Positive results at San Roque have the ability to significantly increase the fundamental value of the Company and bring the Property one step closer to being considered an economic minerals deposit.”
San Roque is located near the Atlantic coast in southwestern Argentina within an area of excellent infrastructure. It is an advanced exploration stage project involving discovery of an epithermal polymetallic deposit of sulfide minerals where gold and zinc are of principal economic focus. The property is secured by 42,320 hectares of mine rights, of which 9,449 are patented mining claims covering all known mineralization. Importantly, the mine rights are free of any non-governmental production royalties. Historical drilling on the San Roque property totals 15,837 meters with 108 holes.
Once all assays from June’s drilling campaign are reviewed by the independent laboratory and the quality assurance/quality control analysis has been completed, Marifil intends to report the results.
“This is an exciting drilling campaign, which has the potential to vividly enhance the value perception of the Property,” Walters stated in the release. “It is clear to the team of geologists that a large volume of rock is well mineralized.”
For more information, visit the company’s website at www.MarifilMines.com
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