Marifil Aquires
47,150 Ha of Potash Lands
Geologic
Studies Suggest Good Probability of Potash, Uranium, Lead, Zinc and Asphaltite
Las
Vegas, Nevada -- December 14, 2010 -- Marifil
Mines Ltd. (TSXV: MFM) ("Marifil" or "the Company") announces
that an ongoing exploration program for potash in the Neuquen
Basin in Argentina resulted in identification of a large area highly favourable for potash in the northern portion of the
basin in Mendoza Province.
The
Company has acquired by staking six cateos
(claims) totalling 47,150 hectares (471.5
square kilometres) that it believes are highly
prospective for potash. The claims, the K3 Project, are also prospective
for uranium, biogenic sulfur (similar to the Company's Codihue sulfur project), Mississippi Valley type lead
and zinc (similar to the Company's Picun Lefu lead zinc project), and for asphaltites
(hard bitumens which can, through heating, be a
source of petroleum).
Geologic
mapping and basin analysis identified this large area as having good
potential for salt horizons at depths ranging from 500 m to 2,000 m. The evaporate salt horizons are believed to range from
50 m to 350 m in thickness. Analysis of electric logs from abandoned oil
wells is ongoing. Potash (a mineral salt with the chemical formula KCl) typically occurs near the top of thick evaporate
salt horizons.
The
southern part of the Company's claims lies about 50 kilometers northwest
of Vale's giant Rio Potasio potash mine which
has a resource of 2 billion tons of potassium chloride.
"Our
geologists have had an ongoing program in this region," stated John
Hite, President of Marifil Mines. "Their
work reveals that this part of the Neuquen
Basin has high potential for potash, lead, zinc, uranium, and asphaltite. We are very pleased to have secured these
highly prospective claims, one of three of the Company's potash
properties, which includes the 80,000 ha K2 project. In keeping with our
business plan, the Company intends to farm out or joint venture this
property. "
For further information on the Company and its
projects, please refer to Marifil's website:
www.marifilmines.com.
For Further Information
Contact:
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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