Marifil extends Toruel vein
2006-06-01 09:28 ET - News Release
Mr. John Hite reports
PHASE III DRILLING EXPANDS TORUEL DEPOSIT
Marifil Mines Ltd.'s phase III drilling confirms the Toruel vein extends at least 150 metres farther westward from previous drilling. Importantly, it also showed mineralization continuing down dip where DH-55 intercepted 3.65 m grading 1.94 grams per tonne gold, 438 g/t silver and 0.25 per cent copper. This intercept is approximately 70 m below the surface and 40 m below the previously reported (see news as reported in Stockwatch July 20, 2005) intercept of 0.70 m grading 1.92 g/t gold, 594 g/t silver and 2.14 per cent copper in DH-27.
Notes John Hite, Marifil's president and chief executive officer: "In summary, the current drilling did not close off the Toruel mineralization, and leaves open some tantalizing possibilities of oreshoots extending to depth. Additionally, we think the highly geochemically anomalous metal values in drill samples from the nearby White Goat and Uno veins reflect much stronger underlying mineralization."
The company completed 1,590.25 m of reverse circulation (RC) drilling and 179.65 m of core drilling in 14 holes on its phase III drill program.
Drill holes DH-49, 50, 51 and 52 tested the West vein (a western extension of the main Toruel vein). RC-50 cut three mineralized intervals including 2.0 m grading 1.14 g/t gold, 256 g/t silver and 0.61 per cent copper.
Company geologists have divided the Toruel vein system into three segments called the Main vein, Hidden vein and West vein. Each segment is separated by cross-faults.
West vein
West vein (RC holes are reverse circulation holes; DH holes are diamond drill core holes):
Drill From To Width Au Ag Cu
hole (m) (m) (m) (g/t) (g/t) (%)
RC-49 Only geochemically
anomalous
mineralization
RC-50 72.0 73.0 1.0 0.49 102 0.35
Plus 81.0 82.0 1.0 0.35 158 0.11
Plus 105.5 107.5 2.0 1.14 256 0.61
Including 1.0 1.81 420 1.09
RC-51 94.0 95.0 1.0 0.25 91 0.17
RC-52 Only geochemically
anomalous
mineralization
..........
RC-52 is the westernmost hole on the Toruel vein. Silicification and quartz breccia anomalous in precious and base metals are reported from 58 to 64 m, 72 to 84 m, 87 to 91 m, 94 to 98.5 m, 135 to 139 m and 141 to 147 m down the hole.
Recently constructed geologic long sections of the vein show a potentially large oreshoot raking westward at 15 to 20 degrees. This possible oreshoot is centred on DH 24 with 5.0 m grading 0.98 g/t gold, 964 g/t silver and 3.71 per cent copper (see news as reported in Stockwatch July 20, 2005). Depth penetrations of RC 51 and 52, respectively 50 and 100 m west of DH-50, were too shallow to intersect the projected top of this target. The holes did cut multiple sulphide-bearing veins and silicified breccias with anomalous amounts of gold, silver, arsenic, barium, copper, molybdenum, lead, antimony and zinc. The company's geologists believe this vein geochemistry is indicative of an underlying oreshoot. Holes 50, 51 and 52 show the mineralization not only persists to the west, but also that the Toruel structure is thickening to the west.
Hidden vein
Drill holes 53 through 56 tested the main portion of the Toruel vein, DH-53 and 54 hit weak mineralization consistent with the company's model of west-plunging ore zones.
Drill hole From To Width Au Ag Cu
(m) (m) (m) (g/t) (g/t) (%)
DH-53 39.7 41.65 1.95 0.93 192 0.19
DH-54 73.0 73.85 1.85 0.61 88 <0.1
DH-55 80.5 84.15 3.65 1.94 438 0.25
Including 1.0 4.86 896 0.20
RC-56 Only geochemically
anomalous
mineralization
RC 60 56.0 58.0 2.0 0.10 238 0.96
RC-61 115 118 3.0 0.43 108 <0.10
Including 115 116 1.0 0.58 154 0.12
...
Main Toruel vein
RC 57 drilled a gap in the company's phase 1 drilling along the main Toruel vein:
Drill hole From To Width Au Ag Cu
(m) (m) (m) (g/t) (g/t) (%)
RC-57 38.5 40.5 2.0 0.45 78 <0.01
.......
This hole cut significant amounts of lead and zinc, and continues to support the company's model that this portion of the Toruel vein has been uplifted and deeply eroded such that the company is looking at the root zone of this large epithermal system.
Other veins
The company also carried out wildcat drilling to test under the White Goat, Mancha Blanca and Uno veins, all located about 1.5 kilometres southwest of the Toruel vein system. The company's current model is that these veins are all high-level expressions of deeper mineralization.
White Goat
Drill holes RC-58 and RC-59 tested the subparallel White Goat vein located about 1.5 kilometres to the southwest of the Toruel vein and both showed only geochemically anomalous mineralization.
These drill holes cut strongly anomalous amounts of gold, silver, arsenic, antimony, molybdenum, lead and zinc in silicified breccias which show weaker surface geochemistry. The higher subsurface values warrant deeper drilling.
Mancha Blanca
RC-62 cut two separate intervals of silicified hydrothermal breccias and four intervals of quartz and calcite veining. Only weakly anomalous amounts of gold, silver, or other metals are present. No further work is planned for this vein.
Uno
RC-63 tested the Uno vein. There are no significant mineralized intercepts. The hole did cut geochemically anomalous amounts of gold, silver, arsenic, antimony, molybdenum, lead and zinc. Again, this geochemistry suggests that deeper drilling is warranted.
Caution should be observed when considering the results for RC 51, 52, 58, 59 and 60. Reported assays could be understated because the drilling of these holes required water injection and additives to handle the influx of groundwater, which can effectively dilute the assay sample of drill cuttings and also cause some loss of the heavy sulphide minerals. For this reason all future drilling will be coring only in the breccia intervals.
This press release has been reviewed and approved by Mr. Hite and Richard Walters, vice-president, under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are qualified persons as defined by National Instrument 43-101.
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