Wednesday, October 10, 2007
Earn-In Partner Castillian Resources Intersects 60.87 M. of 0.78% Nickel, 0.50% Copper & Significant PGM Near Surface at Marifil's Las Aguilas Property
Spokane, WA - October 10, 2007: MARIFIL MINES LTD. (MFM: TSX-V) ("Marifil" or "the Company") announces that earn-in partner Castillian Resources Corporation (TSX:CT) reports additional assay results from drilling at Marifil's Las Aguilas Nickel-Copper-PGE deposit (see Marifil release dated September 20 for previously released drill results & release of May 17, 2007 for details of earn-in agreement). Castillian reported assays for five holes as listed in Table 1 below, "including hole LA07-004, which intersected 60.8 meters grading 0.78% Ni, 0.50% copper, 0.05% cobalt including 12.6 meters grading 1.19% Nickel, 0.75% Copper and 0.07% Cobalt. Very interesting results are noted in drill hole LA07-014 which intersected 10.2 meters grading 0.58% nickel, 0.38% copper, 0.03% cobalt and high precious metal values of 0.56 g/t Platinum, 0.54 g/t palladium, 0.27 g/t gold (1.37 g/t Pt+Pd+Au) which suggests potential for an excellent precious metal by-product credit. Drill hole LA07-013 also intersected two significant intervals with greater than 1.0 g/t Pt+Pd+Au (Table 1).
The ongoing drill program is designed to confirm and expand the Las Aguilas Ni-Cu deposit (see Location Map below) and provide data required to complete a NI-43-101 compliant resource estimate that includes assays for platinum group elements (PGE) which were not systematically analysed by previous explorers. The occurrence of significant platinum, palladium and gold values in holes LA07-13 and 14 provides evidence that precious metals could provide a significant contribution to the value of the deposit. All mineralized intercepts reported to date occur at depths shallower than 100 meters. Both the Las Aguilas East Deposit and West deposit remain open at depth at this time.
Since early July, a total of 38 drill holes totalling 5,990 meters of drilling have been completed, of which assay results have only been received for 14 drill holes. Twenty-four (24) drill holes have assays pending and these will be reported on a continual basis as the data is received. The project is on track and it is expected that a revised, independent, NI 43-101 compliant resource estimate will be completed by year-end.
The Las Aguilas Deposit contains an 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.
Quality Control
[Castillian] 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 and A.A. when values exceed upper limits. 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.
Table 1: Mineralized intercepts from the 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.
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FIGURE 1: Location Map, Las Aguilas
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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.
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 (www.sedar.com) or at Marifil's Website (www.marifilmines.com)
Contacts: John Hite, President (509) 467-5200
Investor Relations, info@marifilmines.com
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