Marifil Receives Property Payment for Toruel
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/19/11 -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ("Marifil" or "the Company") announces it has received the second payment of $25,000 from Netco Silver Inc. (Netco) for the Company's Toruel project, Rio Negro Province, Argentina. The second payment also includes 250,000 Netco common shares. Netco is arranging delivery of those shares.
Netco has been reviewing the historical information on the property and reports that it recalculated some of the higher drill intercepts. These results include intercepts of significantly higher grade for Drill Hole 32 than previously reported in Netco's technical report on the Toruel property dated June 15, 2011 as follows:
Mr. John Hite comments that, "We are encouraged by the work done to date by Netco and look forward to their future drill program. When Marifil originally drilled Hole 32 in 2005 silver prices ranged from $6.50 to $8.50 per ounce. Today the price is nearly four times higher at $31 per ounce."
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.
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Contacts:
Marifil Mines Ltd.
John Hite
President
(702) 562-4880
Ascenta Capital Partners Inc.
Hugh Oswald
Investor Relations
(604) 684-4743 ext. 243
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Datum: 19.10.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 77887
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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