Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

June 17, 2005 08:39 ET

Marifil Mines Receives Drilling Results at Paquita Project

SPOKANE, WASHINGTON--(CCNMatthews - June 17, 2005) - MARIFIL MINES LTD. (TSX VENTURE:MFM) reports it has completed a 947 meter ("m") diamond drilling program comprising 14 holes at its wholly-owned Paquita Gold project in Chubut Province, Argentina (see Marifil press release May 17, 2005.) The Company has received all of the drill core assay results.

The program's initial drill targets were along the Carola and Cerveza veins. Surface sampling of both veins averages 8.9 g/t Au. However, the drilling revealed generally lower gold values in the subsurface except for the last three drill holes on the north end of the Carola vein. There, results indicate that gold mineralization is increasing northward into a zone where the vein's continuation is obscured by surface cover.

In the table below, Hole 1 is the northernmost hole that cuts the gold vein where it is open to the north. Hole 2 is an angle hole under Hole 1, and hole 3 is 100 meters to the south. Hole 6 is about 450 meters still further south and it tests the intersection of the Carola and Cerveza veins. The intercept lengths are approximate true thicknesses.



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D.D.H. # ASSAY INTERCEPT FROM TO
Meters @ g Au/t (M) (M)
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1 2.8 @ 6.49 30.3 33.1
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including 1.4 @ 10.91 32.7 32.1
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2 2.9 @ 4.83 41.2 44.1
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including 1.0 @ 12.36 42.1 43.1
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3 1.1 @ 0.91 50.4 51.5
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6 3.0 @ 2.38 5.5 8.5
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including 1.7 @ 3.70 5.5 7.2
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and 2.0 @ 1.70 24.6 26.6
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The Company believes that these drill results warrant more exploration work on the project. However, further drilling is unlikely to be contracted before the Argentine spring, in September or October. Plans are in place to expand soil sampling, geophysical surveys and trenching northward on the projection of the Carola vein.

All gold values are of assays performed by Alex Stewart & Co. laboratory in Mendoza, Argentina.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Steven Davis, General Manager of Marifil under whose direction the exploration programs are being carried out. Both are Qualified Persons, as defined by National Instrument 43-101.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Marifil Mines Ltd.
    John Hite
    President
    (509) 466-1505
    or
    Marifil Mines Ltd.
    Greg Taylor
    Investor Relations
    (905) 337-8475
    gtaylor@marifilmines.com