News - Drill program
Marifil Mines begins Paquita drill program
2005-05-03 06:16 MT - News Release
Mr. Greg Taylor reports
MARIFIL MINES BEGINS DRILLING PROGRAM AT PAQUITA PROJECT, CHUBUT PROVINCE, ARGENTINA
Marifil Mines Ltd. is beginning a 2,000-metre drill program at its wholly owned Paquita gold project in Chubut province, Argentina. The company has received a large number of very encouraging assay results from its detailed mapping, sampling and trenching program on the property.
The program's initial drill targets are along the Carola and Cerveza veins. The Carola vein has been traced on surface for about 1,900 metres and the Cerveza vein has been traced for over 2,500 metres. In the discovery area, surface sampling of both veins averages 8.9 grams per tonne gold.
Additional subparallel veins have also been identified in the immediate vicinity. Significantly, company geologists recently discovered a third major vein located about two kilometres north of the intersection of the Carola and Cerveza veins.
Over the past month, the company's exploration team had collected 155 samples during a detailed mapping and trenching program along the two targeted veins. Sixty-five per cent of the assays (98 samples) exceed one gram per tonne gold; 49 per cent (74 assays) exceed 2.0 grams per tonne gold; 34 per cent (51 assays) exceed 4.0 grams per tonne gold; and 14 per cent (21 assays) exceed eight grams per tonne gold, with a maximum value of 31.9 grams per tonne gold. The results of five of the assays are still pending.
The anomalous gold samples also contain highly anomalous amounts of copper, lead and zinc. These results support earlier geological evidence gathered by the company clearly indicating that the gold-bearing veins at Paquita constitute an important drill target.
Detailed mapping at a scale of 1:1000 has been completed over an area measuring 700 metres by 1,000 metres. A backhoe trenching program, which began in April, is being used to trace vein projections into areas where the veins are poorly exposed by shallow soil and wind-blown sand cover.
The drill program is expected to take about two weeks. Once it is has been completed, the drill is scheduled to be moved to the company's Toruel silver property (see Marifil Mines Ltd. news issued in Stockwatch on April 26, 2005).
All assays were performed by Alex Stewart & Co. laboratory in Mendoza, Argentina. Elements other than gold were analyzed by ICP at the same laboratory.
This news has been reviewed and approved by John Hite, president of Marifil Mines Ltd., and by Steven Davis, general manager of Marifil, under whose direction the exploration programs are being carried out. Both are qualified persons, as defined by National Instrument 43-101.