Marifil Mines Provides Year End Update; Shares Up 10%
Marifil Mines Ltd. (MFM.V) today provided an operational update on Marifil's activities for the year end 2012. During the past year, the Company has made several significant accomplishments on our extensive portfolio of projects in Argentina.
Marifil has expanded its land holdings and acquired two high-grade potash deposits K-5 and K-6 in the Neuquen basin. Additionally, the company hired consultant Dr. Robert Rennie to assist in the development and planned spinout of the potash, sulfur, and phosphate projects into Marifil Fertilizers Ltd.
Marifil said it has been working diligently to find new partners for its properties. While it has reached an agreement on one of its larger projects; it has been unable to sign a contract for several months due to bureaucratic delays. A second major project is being reviewed by several companies and investor groups and Marifil hopes to have updates in the coming months.
Marifil has succeeded in adding value through exploration and development. One of itsrecent successes has been in identifying oxide gold at the San Roque property. This potential heap leach gold deposit is located in the Zone 34 area of the property and mineralization is thoroughly oxidized to a depth of 30 to 35 meters.
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