Tuesday, September 25, 2007
Marifil Finds 5.4 m @ 309 g/t Indium from Previous Toruel Drilling
43-101 Resource Study Underway
Spokane, WA - September 25, 2007: MARIFIL MINES LTD. (MFM: TSX-V) ("Marifil" or "the Company") announces further assaying of previous drill samples from its wholly-owned Toruel property in Rio Negro Province, Argentina has resulted in substantial added value with the discovery of indium associated with the silver-rich polymetallic base metal mineralization (see Marifil news release dated June 1, 2006). Thirteen drill hole intercepts between 20 and 25 meters deep show a weighted average grade of 83.07 grams indium per tonne ("g/t In") over an average true width of 2.4 m, with the best intercept being 5.40 m @ 308.94 g/t In.
The 1.5-kilometer-long Toruel structure is a silicified fault breccia impregnated by strong epithermal sulphide mineralization containing silver, gold, copper, zinc and lead. The Company drilled 46 holes along this structure during 2005 and 2006, and recently undertook additional assaying of 881 drill sample pulps for suspected indium. The indium search was filtered by analyzing only samples containing >0.3% zinc, with which the indium is believed to be complexed. The new assay results are summarized in Table 1 below. Some additional indium assays are pending. The exercise was eminently successful in identifying indium as being a valuable credit of the precious metal and polymetallic mineralization, adding an equivalent in value of 140 g/t silver to its average grade.
.. DDH 1 2.40 m @ 37.50 g/t In
.. DDH 2B 2.40 m @ 11.91 g/t In
.. DDH 8 1.40 m @ 54.00 g/t In
.. DDH13 1.80 m @ 99.23 g/t In
.. DDH 21 2.50 m @ 15.04 g/t In
.. DDH 24 5.00 m @ 40.08 g/t In
.. DDH 31 3.40 m @ 28.69 g/t In
.. DDH 32 5.40 m @ 308.94 g/t In
.. DDH 33 1.90 m @ 36.63 g/t In
.. DDH 34 1.80 m @ 37.83 g/t In
.. DDH 35 0.60 m @ 59.00 g/t In
.. DDH 41 0.70 m @ 45.00 g/t In
.. DDH 57 2.00 m @ 9.50 g/t In
These latest results will be incorporated into a National Instrument 43-101 resource calculation on Toruel, which is under preparation.
John Hite, Marifil's President and CEO said, "This is extremely exciting news for our shareholders as it shows we now have significant indium in drill intercepts on at least two of our wholly-owned* properties - Toruel and San Roque - and, with the work we have planned for the new exploration season, we look forward to seeing them both proven as important new discoveries. The indium contents we are seeing will form an important byproduct adding significant value to both projects. Additionally, the indium credits may effectively increase the resource size considerably, particularly at the east end of the Toruel structure where silver values are lower."
(*Marifil, which acquired the rights to San Roque from MIM Exploraciones S.A. (a wholly-owned subsidiary of mining giant XSTRATA), has the right to purchase 100% of the property at any time by making a cash payment of $400,000.)
Assay results from diamond core drilling at the Company's San Roque project - a drill program that was conducted after the Toruel drilling had been completed - revealed strong geologic associations between zinc and indium mineralization. As a result, Marifil's management decided to determine whether there might be a similar zinc-indium association at Toruel where no assays had been made for indium. The Company's technical team, headed by Senior Geologist, Pedro Vera, reviewed the extensive sampling database results from the Company's three-phased, 63 hole drill program conducted during 2005 and 2006, which had tested several different structures across this 43,621 hectare property.
Indium is a reasonably abundant but generally little known mineral used in the manufacture of semiconductors, high speed transistors, specialized solders and other specialized alloys. It is also used in the control rods for nuclear reactors. However, almost 50% of indium produced is used in the creation of thin-film coatings to make electronic devices such as thin-film solar panels and liquid crystal displays (LCDs), screens that transform electricity into light energy (i.e. television screens and computer monitors). Indium is currently selling for approximately three times the price of uranium (U3O8) or about 70% more than the price of silver.
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. under whose direction the exploration program is being carried out. Mr. Hite is a Qualified Person as defined by National Instrument 43-101.
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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, firstname.lastname@example.org Toronto area (905) 337-8475