Thursday, September 20, 2007
Castillian Cuts 38.8 Meters Grading 0.81% Nickel, 0.40% Copper at Marifil's Las Aguilas Property
Spokane, WA - September 20, 2007: MARIFIL MINES LTD. (MFM: TSX-V) ("Marifil" or "the Company") announces that its partner, Castillian Resources Corporation (TSX:CT) has reported initial assay results from its ongoing drill campaign at Marifil's Las Aguilas Ni-Cu-PGE deposit, San Luis Province, central Argentina.
According to Castillian: "Results of the initial 9 holes are listed in the table below, including hole LA07-005 which intersected 38.8 meters grading 0.81% Ni and 0.40% copper with several significant high grade intervals exceeding 1% nickel within the zone (see Table 1 below) Las Aguilas is located 40 km NE of the city of San Luis and about 200 km east of City of Mendoza (see Figure 1) and is an option - joint venture with (Marifil.)" (See Marifil press releases dated May 17 and June 6, 2007).
Notes Castillian: The current drilling program is designed to confirm and expand the Las Aguilas Ni-Cu deposit and provide data required to complete a NI-43-101 compliant resource estimate including assaying for platinum group elements (PGE) which were not systematically analysed by previous explorers. Significant progress has been made since the commencement of the program in early July this year. A total of approximately 3,200 meters of Diamond drilling has been completed to date. Twenty-five (25) drill holes have been completed and approximately 2,000 samples shipped to the ALS-Chemex Lab (Mendoza-Vancouver). Due to very high volumes lab turn-around time has been slow.
Complete assay results have been received for 8 holes (the first hole was abandoned due to problems below the collar) and significant mineralized intercepts are indicated below. These holes were drilled on four sections spaced 25 meters apart on the Las Aguilas East deposit (see Figure 1).
John Hite notes that, "this news release confirms the validity of our joint venture model. Our partner has just drilled 3,200 meters with very good results. Marifil retains a 40% interest in this project, and, at Marifil's option, we can be fully carried through to production and still retain a 35% interest without further dilution to our shareholders."
Table 1 - Mineralized intercepts from initial drill holes, Las Aguilas East Deposit. Width in the table represents core width of the intersection, true width is expected to be 70% or more of the core width indicated in the table.
Click to Enlarge
The Las Aguilas Deposit contains a historical resource of 2.2 million tonnes grading 0.52 % Ni, 0.51 % Cu and 0.04 % Co at a 0.3% Ni cut-off grade. The resource occurs in two sulfide deposits (Las Aguilas East and West Deposits), as defined by Fabricaciones Militares in 1986, which intermittently carried out various geological, geophysical and surface drilling exploration campaigns from 1972 until 1986. This resource estimate has not been confirmed by Castillian and predates the establishment of NI 43-101 standards and is provided for information only.
The Las Aguilas East deposit is hosted by an approximately 100 meter wide, irregular shaped ultramafic to mafic intrusion. The intrusion trends north and the main mineralized zone is located near or at the base of the intrusion (east side), associated with pyroxenite and peridotite. The sulphide minerals consist of pyrrhotite, chalcopyrite and pentlandite and occur as disseminations, net-textured and massive to semi-massive veins. Platinum Group Elements (PGE) are, associated with the sulphides.
The deposit has an elliptical higher grade core enclosed in an elongated halo of disseminated lower grade mineralization. An important result of the program to date is that it indicates that the higher grade core is plunging at approximately 45o to the southeast and the deposit remains open for expansion along this plunge direction.
The Las Aguilas West deposit is located approximately 300 meters west of the East deposit and is hosted by steeply dipping mafic to ultramafic intrusive rocks, consisting of pyroxenite with net-textured and disseminated sulphides. All assays are pending for drill holes testing the West deposit.
Assays are currently pending for 15 additional drill holes and will be reported as results become available.
Quality Control
The company employs a diligent QA/QC protocol on all aspects of the analytical procedures. Core samples are sawn and one half of the NQ core is restored to the core box for future reference and one half of the core is sent for analysis. Samples are taken in approx. 1.0-metre intervals or less when in the mineralized zone, and at 1.5 metres or less when in disseminated sulphides (<2% sulphides). 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. 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.
The quality control and all aspects of the exploration program are supervised by Castillian exploration managers, Danielle Giovenazzo, Ph.D., PGeo, and Fernando Tallarico, Ph.D., PGeo, both of whom meet the criteria for a qualified person as defined under National Instrument 43-101.
David Gower, PGeo, President and Chief Executive Officer of Castillian, who is a qualified person as defined by NI 43-101, has reviewed this release."
Forward Looking Statements
This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the timing for resource modeling and the preparation of a 43-101 compliant technical report. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
Click to Enlarge
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.)
Contacts: John Hite, President (509) 467-5200
Greg Taylor, Investor Relations, gtaylor@marifilmines.com Toronto area (905) 337-8475
Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" with approximately 87.8 million shares issued and outstanding. Castillian has partnered with Xstrata Nickel to explore the approximately 153,000 ha Mangabal nickel-copper project in Brazil. The company is earning an interest in the Las Aguilas Nickel-Copper-PGM Project in Argentina from Marifil Mines Ltd. and has the right to purchase a 100% interest in the Kagera Project which comprises over 1,600 square kilometers in the highly mineralized Kabanga Nickel Belt in Tanzania and rights to acquire 90% of the Pederson deposit, an advanced gold exploration project in Bolivia which is currently under force majeure.
Castillian Contact: David Gower, President & CEO- phone: 416 861 5902
|