Final Drilling Results At The San Roque Property

 

VANCOUVER, BC - Marifil Mines Limited has received all assay results for its 2018 San Roque property diamond core drilling program. The San Roque property is located near the Atlantic coast in the Province of Rio Negro, Argentina. 

The Property is an advanced stage exploration property which encompasses a polymetallic mineral deposit of precious and base metals. It exhibits widely distributed low grade gold-silver-lead-zinc mineralization in veins, stockworks, fractures, breccia fillings, and disseminated sulfides in breccia zones, primarily within volcanic rocks. Company geologists hypothesize this mineralization may have migrated upward from a deep-seated porphyry copper-molybdenum-gold system.

The Minas San Roque S.A. partnership has invested about US$8 million into the exploration of the Property, where there are now 112 drill holes tallying 16,683 meters. Every one of these drill holes has intercepted some degree of mineralization, indicating an extensive and largely unexplored system of hydrothermal mineralization over several square kilometers. All of the known zones of mineralization are open to expansion by continued drilling. Equally important, mineralization at these drill holes frequently starts at surface and has been followed to the bottom of the deepest holes, about 200 vertical meters. The Company intends to focus on furthering the evaluation of the Property.

Four HQ-size core drill holes were completed on the Property for a total of 846 meters. Three of the four holes (MFMDDHs 56, 58 & 59) increased the bulk of two known zones of mineralization, while the far reaching fourth hole (MFMDDH-57) tested a geophysical anomaly.

Robert Abenante, CEO of Marifil said, "San Roque continues to be a first class gold exploration project, and it is the Company's intent to commission a NI 43-101 report on it before the end of the year."

Assay results of previous drilling campaigns show local areas of significant indium content. Indium was not systematically assayed for in this campaign, but numerous spot checks on the better gold assay core runs did not find indium greater than the detection limit of 1 ppm.

Drill holes MFMDDH-56 and MFMDDH-59 continued delineation of the Zone 34 gold zone as step-outs off of DDHMSR-0034 (-60°), drilled in 2011. It intercepted 35 meters of 2.27 g/t Au with 42.6 g/t Ag. The true width of this cored mineralization is unknown. MFMDDH-56 is 50 meters from DDHMSR-0034 at a right angle to the strike of the mineralization, being positioned as a downward extension or down-dip test. It encountered 9.6 meters of 1.58 g/t Au within a broader mineralized zone of 39.5 meters at 0.74 g/t Au from 5.0 meters to 44.5 meters. MFMDDH-59 is 50 meters from DDHMSR-0034 along the structural strike of the mineralization, encountering 19.8 meters of 1.86 g/t Au from 6.2 meters to 26.0 meters within a broader intercept of 31.5 meters of 1.21 g/t Au from 2.0 meters to 33.5 meters.  

Both of these new holes hit significant shallow zones of correlative gold mineralization, although of lower grades than those in DDHMSR-0034. As with previous drilling results in Zone 34, there are only trace amounts of base metals, but, notably, molybdenum is anomalous in MFMDDH-56.

Drill hole MFMDDH-57 is a 600 meter exploratory step-out to the northwest along a linear geophysical (induced potential (I.P.)) anomaly extending from drill hole MSRDDH-0033. This exploratory drilling discovered that the I.P. anomaly is caused by pyrite rich rock formation of schist within the Precambrian age basement strata upon which the mineralized Jurassic age rhyolitic volcanic rocks sit. Nonetheless, the first 45 meters of this drill hole crossing that geologic boundary at only seven meters down-hole intersected a weighted average of 0.30% zinc with less than 100 ppm lead, carrying mostly trace gold values.

Richard Walters, Vice President of Marifil said, "The Induced Potential geophysical anomaly tested by drill hole MFMDDH-57 is apparently caused by a rock formation containing disseminated pyrite. However, the first 45 meters of this hole assays 0.3% zinc with abnormally absent lead. The drill core contains oxidized rock near the surface, and it is plausible this zinc mineralization has been selectively leached from a nearby source stratigraphically higher in the volcanic section leaving the insoluble lead behind, and geochemically transported and redeposited in the area of our drilling as zinc oxides. We are keen to identify the source, and think a step back hole about a hundred meters to the west could be rewarding."

Drill hole MFMDDH-58 was drilled as a 50 meter step-off from DDHMSR-0033, which was also drilled in 2011, and shows two intercepts with a weighted average of 93.9 meters at 0.80 g/t Au, 9.0 g/t Ag, 0.31% Pb and 0.58% Zn, as also announced in the Company's press release titled "Marifil Reports Positive Drill Results From San Roque Project In Argentina", dated February14, 2012. MFMDDH-58 shows six intercepts having a combined weighted average of 83.0 meters at 0.49 g/t Au, 5.0 g/t Ag along with 0.22% Pb plus 0.46% Zn.

The potential quality and grade of the aforementioned exploration targets are conceptual in nature, and there has been insufficient exploration to define a mineral resource.  It is uncertain if further exploration of these or other targets at the Property will result in the target being delineated as a mineral resource.