Marifil Begins a Third Stage Drilling Program on Punta Colorada Limestone Property
02 July 2014 - 11:30PM
Marketwired
Marifil Begins a Third Stage Drilling Program on Punta Colorada
Limestone Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 2, 2014) -
MARIFIL MINES LTD. (TSX-VENTURE:MFM) ("Marifil" or "the Company")
announces it has begun a third stage drill program on the Company's
Punta Colorada project, Rio Negro Province, Argentina.
The Company has completed a geologic report and in-house
calculation of limestone resources (not a NI 43-101 compliant
resource calculation because the author is not an independent
Qualified Person). This report satisfied our contractual
obligations to carry out an exploration program on the claims. This
report has presented to the Government of Rio Negro with a request
to allow exploitation.
The Punta Colorado limestone beds are flat-lying to gently
dipping to the north and covered by a thin layer of overburden
averaging about 0.5 m thick. An upper limestone layer with higher
magnesium (MgO) content overlies a lower layer with very low MgO
content. The upper limestone layer becomes thinner towards the
south and is totally removed by erosion in a large valley near the
center of the property.
Marifil completed a first stage drill program in 2005 (see
Marifil News Release dated December 17, 2006) comprising 12 holes
totalling 131 meters. The thickness of the favorable limestone
layer varies from a few meters to more than ten meters over most of
the 545 hectare property suggesting a potential resource of 100 to
150 million tonnes, supporting previous estimates based on drilling
conducted during the 1980's by Hierro Patagonia S.A. (HIPARSA), a
Rio Negro Provincial Corporation.
From October 2013 to January 2014 the Company carried out a
second drill program of 20 holes totaling 230.7 meters. These holes
were drilled on a 200 meter by 200 meter grid to establish
continuity of the beds and confirm the grades of the various
limestone beds. The third stage will comprise a few short holes to
extend the higher CaO grades outlined in the stage 2 program.
This press release has been reviewed and approved by John
Hite, President of Marifil Mines Ltd. 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.
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in producing and publishing information contained in this news
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This news release may contain forward-looking statements,
including but not limited to comments regarding predictions and
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Actual results may differ materially from those currently
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For further information regarding Marifil Mines Ltd., please
refer to the Company's filings available on SEDAR
(Http://www.sedar.com) or at Marifil's Website
(Http://www.marifilmines.com.)
John HitePresident(702) 562-4880jhite@marifilmines.comHugh
OswaldInvestor Relations(604) 838-2855hoswald@marifilmines.com
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