Marifil Mines Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | #605 - 475 Howe Street Vancouver B.C. Canada V6C 2B3 |
| Tel No.: | (702) 562-4880 |
| Fax No.: | (702) 562-4880 |
| Web Site: | www.marifilmines.com |
| Corporate Email: | info@marifilmines.com |
| Contact Person: | Hugh Oswald |
| Position: | Manager of Investor Relations |
| Traded Market: | TSX-V |
| Traded Symbol: | MFM |
| Outstanding Shares: | 51,900,000 |
| Public Float: | 35,000,000 |
| 52 Week High: | $ 0.19 |
| 52 Week Low: | $ 0.055 |
| Present Price: | Click Here |
INTRODUCTION
Marifil Mines Ltd. is a Canadian resource company exploring for precious and base metals in Argentina. This country possesses some of the world's most prolific new gold and silver discoveries and has a progressive policy towards mineral taxation and mine development. The Company has built an impressive portfolio of more than 20 precious and base metals properties. Several of these properties contain bonanza grade gold and silver values.
Strategically, Marifil enhances its properties through focused exploration and drilling and then uses joint ventures with major mining companies to leverage value for its shareholders.
The Company is led by a highly skilled and experienced board and management team with significant success in discovery and in managing early stage mineral exploration companies.
PROJECT IN HAND
San Roque Gold-Silver-Lead-Zinc-Indium Project, Rio Negro Province, Argentina.
Marifil's 100%-owned 70,046 hectare San Roque property is located within a structural corridor at least 10 km wide and 20 km long. This corridor has yielded samples as high as 2,975 g/t indium with 4.76 g/t gold. The property is in a favourable location for exploration and development. The terrain is relatively flat and the region has a mild climate allowing it to be worked year-round. The property is accessible by both a paved highway and adjacent railway, and is only 75 km from a port on the Atlantic coast. The San Roque property contains a 40 sq.km alteration zone.
Drilling by Marifil reveals significant disseminated and stockwork galena and sphalerite (ores of lead and zinc) mineralization containing gold, silver, and indium. Marifil believes mineralization at San Roque is analogous to the giant Penasquito deposit in Mexico, now being mined by Goldcorp, and the Camino Rojo and San Augustin deposits, also in Mexico.
Marifil has entered into an Option Agreement with NovaGold Resources Inc., whereby NovaGold has the right to earn up to a 70% interest in Marifil's San Roque Project. NovaGold is planning an exploration and drilling program.
Las Aguilas Nickel-Copper-PGM (Platinum Group Elements) Project, San Luis Province, Argentina
In November 2010, Marifil has entered into an option agreement with Pacific Coast Nickel Corp.
whereby Pacific Coast has an option to acquire a 70% interest in Marifil's 30,432 sq.km Las Aguilas nickel-copper-PGM property located in San Luis Province, Argentina, 30 km northeast of San Luis, the province capital.
The Las Aguilas property has a non-NI 43-101-compliant resource estimate of 2.2 million tonnes of Measured and Indicated ore grading 0.52% nickel, 0.50% copper, 0.04% cobalt and significant amounts of PGM. Additionally, the property includes the Las Aguilas mine, the largest known copper-nickel-platinum resource in Argentina.
Codihue Sulphur Project, Neuquen Province, Argentina
Marifil owns a 100% interest in the 18,000 hectare Codihue sulphur project in the Neuquen Sedimentary Basin, Neuquen Province, Argentina. An independent consultant completed the NI 43-101 report on the giant Codihue sulphur
property and recommends a $1,000,000, two-phase program.
Marifil's pioneering work found widespread sedimentary rock outcrops at Codihue that strongly resemble those of the Mishraq sulphur deposit in Iraq. Mishraq is the largest known biogenic sulphur deposit in the world, originally containing about 250 million tones of sulphur.
Punta Colorado Limestone Project, Rio Negro Province, Argentina
Marifil owns a 100% interest in the 6,760 hectare Punta Colorado limestone project in the Rio Negro Province, Argentina. The ore target is a 100 to 200 million tonne cement grade limestone deposit. The deposit is adjacent to a deep water bulk loading terminal with ample supplies of water, electricity, gas and roads. The Company completed a 12 hole test drill program in December of 2005, confirming the presence of limestone containing <4% MgO (generally, cement grade contains less than 4% MgO). The Company intends to complete a market study which will be followed by a drill program and a NI 43-101 report.
Toruel Silver-Gold-Copper-Indium Project, Rio Negro Province, Argentina
Marifil's 100% owned 43,621 hectare Toruel property consists of large epithermal veins and breccias containing silver-copper-gold plus lead and zinc. The latest drilling on the Toruel Main Vein intercepted 3.65 m grading 1.94 g/t gold, 438 g/t silver and 0.25% copper.
Lithium Properties, Salta & Catamarca Provinces, Argentina
Marifil has signed an agreement with Renholn International, a private company whereby Renholn has the right to purchase all of the Company's lithium claims in Salta and Catamarca Provinces, Argentina. The lithium properties comprise two claims in Salta Province totalling 19,600 hectares and 7 claims in Catamarca Province totalling 19,185.4 hectares.
Other Significant Projects
In addition to the above listed projects, Marifil has a number of other exploration and developing projects, among those projects are:
K-2 Potash Project, Neuquen Province, Argentina
Los Menucos Gold-Silver Project, Rio Negro Province, Argentina
Ferrocarillera Lead-Zinc-Gold-Silver Project, Catamarca Province, Argentina
Maipu Silver & Base Metals Project, Santa Cruz Province, Argentina
MANAGEMENT
John B. Hite, President & Director
Mr. Hite is a Registered Geologist with significant experience in the junior mining industry, having worked as a geologic consultant since August, 1978, and is a Qualified Person as defined in National Instrument 43-101. Previously he was a Director and President of East Asia Gold Corp.
Richard R. Walters, Executive Vice President & Director
Mr. Walters is a Certified Professional Geologist and is a Qualified Person as defined in National Instrument 43-101. He was a Director, Chief Operating Officer and Executive Vice President of Yamana Resources Inc. Since July 2003, he has been a Director and President of Little Squaw Gold Mining Company.
Daniel Buffone, President, Marifil S.A. & Director
Mr. Buffone, an Argentine born and trained geologist, was a founder of Marifil S.A.
Matthew Fowler, Interim Chief Financial Officer
Mr. Fowler has six years of investment, corporate finance and Securities and Exchange Commission accounting experience.
Greg Burnett, Director
John W. Pearson, Director
William Schara, Director
NEWS UPDATE
On November 15, 2010, Marifil Mines Ltd. announced that it has sold its 100%-owned El Carmen oil and gas property, located in Chubut Province, Argentina, to Ilakon Ltd., a private company.
Ilakon has agreed to purchase the El Carmen property for $250,000. In addition, Marifil retains an 8% production royalty from gross proceeds of sales of oil and gas.