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Marifil Mines reports new gold system discovery at the San Roque Gold Project

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Global Mining Review,

Marifil Mines Ltd. has announced that a new system of gold-bearing epithermal quartz veins (the ‘NW Vein System’) has been discovered at the San Roque property in a zone that has yet to be drill tested. The San Roque property is located near the Atlantic coast in the Province of Rio Negro, Argentina and has excellent infrastructure in-place.

A total of 112 exploration holes totalling 16 683 m have been drilled to date at San Roque which is an advanced-stage exploration property showing overall encouraging drill results. These drill results support the potential for a large disseminated precious-metals-rich, polymetallic deposit. With the vein system new findings, apart from the drilled areas, there is potential for one or more gold-bearing epithermal quartz vein system deposits that could be amenable to surface slot mining or possibly underground mining. It is the company's opinion that these new vein findings may, upon further investigation, also offer possibilities for discovery of large, low grade bulk tonnage gold deposits.

San Roque's Project Manager and geologist, Pedro R. Vera, who has worked exploring for gold in Patagonia for 20 years, stated: "In light of the epithermal gold bearing quartz veins we are now finding in undrilled areas of the property, we now have a new exciting zone to pursue in our next drill programme. The more we are looking, the more gold showings of various sorts we continue to find".

San Roque is held by Minas San Roque S.A., which is jointly owned by Marifil's wholly owned subsidiary Marifil Mines S.A. (51%) and NOVAGOLD RESOURCES INC.'S wholly-owned subsidiary NovaGold Argentina Inc. (49%). Marifil is the project operator.

Some assay highlights from trenching include:

  1. A channel sample in Trench 3 on the Clupe zone showing 1.7 m of 9.06 g/t Au with 82 g/t Ag,
  2. An open-ended channel sample on the Encuentro zone in Trench 8 of 3 m at 2.18 g/t Au, and
  3. A 0.2 m channel sample in Trench 9 of 24.66 g/t Au with 78 g/t Ag within a 3.0 m interval showing 2.43 g/t Au with 10 g/t Ag.

Major features of the NW Vein System are two extensive zones of multiple veining: Clupe and Encuentro. These prospective northeast trending vein zones have been recognised by reconnaissance geologic mapping, a limited series of backhoe trenches, as well as rock and regolith sampling. (Regolith is a layer of loose, heterogeneous superficial deposits covering solid rock including dust, soil, broken rock, and other related materials.)

Definition of the NW Vein System is based on rock chip samples from structures exposed by trenching, sparsely exposed quartz vein outcrops, as well as some vein float (rocks lying loose on the ground) in areas lacking outcrops. A total of 180 rock samples have been analysed, including 77 continuous rock chip channel samples for 217 m in the seven trenches (T-3 thru T-9) on the NW Vein System.

Additionally, 155 samples of regolith were taken on a grid covering approximately 1 km2 of the NW Vein System using an auger to penetrate the soil cover up to depths up to a meter.

"This reconnaissance geologic mapping and sampling of the NW Vein System has turned up some new and exciting possibilities at San Roque." stated Richard (Dick) Walters, Professional Geologist and Vice President of Marifil. "Perhaps even more exciting, Marifil found some areas of extensive rock silicification along the Enquentro vein zone containing numerous subparallel gold bearing quartz veinlets and veins where we intend to investigate the bulk tonnage gold deposit possibilities".

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