Marifil Acquires Phosphate Properties
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/26/11 -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ("Marifil" or "the Company") announces it has initiated a phosphate exploration program in the Neuquen Sedimentary Basin in Mendoza Province, Argentina. The Company has applied for two cateos (mining claims) totalling 7,700 hectares on the basis of reconnaissance sampling results.
The cateos cover a strike length of about 25 kilometres of outcropping phosphatic sedimentary beds included within the Vaca Muerte and Agrio Formations. These rocks are exposed in the Sierra De Reys mountain range and are of Jurassic and Cretaceous age. Marifil now controls about half of the strike length of the favourable outcrops, with its neighbour the giant Brazilian miner Vale S.A. covering the rest.
Marifil's phosphate program is an outgrowth of its potash program within the Neuquen Sedimentary Basin. Company geologists identified phosphate bearing rocks at depth in the basin from examination of oil well drill logs while looking for potash.
A basin analysis including studying the sedimentary depositional environments was made to predict locations where phosphorus would likely precipitate and be concentrated. These beds were then traced to their outcrops along the margin of the basin where geologic mapping and a series of reconnaissance rock chip samples verified the widespread presence of anomalous phosphate.
The phosphate-bearing horizons, named A through E, vary from 5 to 40 meters thick. The Company is mobilizing a more detailed sampling program to include trenching of the identified favourable sedimentary units. Drilling could follow pending further encouraging results.
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Walters is a Qualified Person as defined by National Instrument 43-101.
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This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Marifil Mines Ltd.
John Hite
President
(702) 562-4880
Marifil Mines Ltd.
Hugh Oswald
Investor Relations
(604) 684-4743 ext. 243
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Datum: 26.09.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 69390
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Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"Marifil Acquires Phosphate Properties"
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