VANCOUVER, May 8, 2018 /CNW/ - Marifil Mines
Limited (TSXV: MFM) ("Marifil" or the "Company")
is pleased to announce the launch of its lithium exploration
program with the acquisition of two brine properties (the
"Properties") in the Province of Catamarca, Argentina, which is located within the famed
"Lithium Triangle".
The Properties total 6,528 hectares, covering portions of alkali
flats ("salars" or "salt lakes") on the Puna plateau, a high
elevation basin-like plain on the eastern slope of the Andes
Mountains. The tenements, or claims, have potential not only for
lithium salts, but also for potash and borates. The project area is
approximately 100 kilometers south of FMC's Hombre Muerto lithium
brine production operation.
"The acquisition of these exciting lithium claims
marks the beginning of our aggressive lithium property
acquisition and exploration campaign," stated
Robert Abenante, Marifil's President
and Chief Executive Officer.
"Obtaining the rights to these
significant lithium properties, in the heart of
Argentina's
Lithium Triangle, displays our
Company's ability to leverage its respected and
experienced team in Argentina," added Mr.
Abenante. "We continue negotiations to obtain
additional lithium prospects for our
lithium portfolio all within Argentina's
world-renowned Lithium Triangle."
Lithium is derived from hot waters of volcanic origin, which
leach it from surrounding volcanic rocks, and is concentrated by
evaporation in salars that have no outlet except for evaporation.
Hydrothermal solutions emanating from regional faults may also be a
secondary source of lithium and borates.
The tenements constituting the Properties are referred to as the
"cateos", which in Argentina
translates to "exploration concessions". The cateos, Fraile (5,678
has.) and Ratones (850 has.), are controlled 100% by Marifil. The
Properties are not subject to surface owner obligations, as both of
the cateos are located on government lands.
The Ratones cateo is located on the Ratones salar, approximately
50 km southwest of the town of Antofagasta de la Sierra, and is accessible by
dirt road. The crescent shaped Ratones salar is approximately 1.5
km wide and 15 km long. The Company's claim covers the prospective
heart of the southern portion of the salar.
The Company has taken eight reconnaissance surface water samples
on the Ratones salar. Geochemically anomalous levels of boron were
found, but without anomalous lithium. These brine samples are
believed to have been diluted by fresh water run-off and the
results represent only the top of the water column where samples
may not be representative of denser brines that exist further down
in the water column. Lithium brine-bearing aquifers below the
glistening salt crust are of low resistivity with high
conductivity. Such horizons can be detected by a Transient
Electromagnetic Method (TEM) geophysical survey, which is intended
to be the next step in the Company's exploration of the Ratones
salar.
The Fraile cateo is located on the Fraile salar, approximately
60 km west of the town of Antofagasta de la Sierra, and is accessible by
dirt road. It covers the northeast rim of the large salar that is
largely concealed by alluvial fans. Reconnaissance exploration pit
sampling is planned.
ON BEHALF OF MARIFIL MINES LIMITED
"Rob
Abenante"
Robert Abenante, President &
CEO
This press release has been reviewed and approved by
Robert Abenante, CEO of Marifil
Mines Ltd. and by Richard
Walters, P.Geo, Vice
President. Mr. Walters is Qualified Person,
as defined under National Instrument
43-101 - Standards of Disclosure for Mineral
Projects.
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).
General Disclaimer
Marifil Mines Limited "Marifil" has taken all reasonable care
in producing and publishing information contained in this news
release, and will endeavor to do so on a periodic basis. Material
in this news release may still contain technical or other
inaccuracies, omissions, or typographical errors, for which Marifil
assumes no responsibility. Marifil does not warrant or make any
representations regarding the use, validity,
accuracy, completeness or reliability of any claims, statements or
information on this site. Under no circumstances, including, but
not limited to, negligence, shall Marifil be liable for any direct,
indirect, special, incidental, consequential, or other damages,
including but not limited to, loss of programs, loss of data, loss
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information is not a substitute for independent professional advice
before making any investment decisions. Furthermore, you may not
modify or reproduce in any form, electronic or otherwise, any
information on this site, except for personal use unless you have
obtained our express
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Forward-Looking Statements
This news release contains forward-looking
statements, including but not limited to comments regarding
predictions and projections, the Company's
plans with respect to the Properties and the
Company's plans with respect to future acquisitions
of lithium properties and its future exploration campaign.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements. The Company does not intend, and does not assume
any obligation, to update these forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Marifil Mines Limited
