Marifil Mines Ltd.: First Drilling Results from Cerro Samenta
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 12, 2014) - Marifil Mines Ltd. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces it has received partial drill results from its Cerro Samenta porphyry copper project in Salta Province, Argentina.
Marifil's partner, Southern Copper, completed a Phase I diamond core drill program of 8 holes totalling 2,795 meters on April 20, 2014. All drilling was done in the North Zone of the property. The holes tested a hydrothermally altered multiphase granodiorite porphyry intrusive and breccia complex. The drill hole statistics are shown in Table I, and a location map is appended.
TABLE I
| HOLE ID | EASTING | NORTHING | BEARING degrees | DIPPING degrees | TOTAL DEPTH (m) |
| SAM 01 | 2590716 | 7245802 | 225 | - 60 | 417.50 |
| SAM 02 | 2590881 | 7245452 | 045 | - 70 | 456.30 |
| SAM 03 | 2591060 | 7245609 | 360 | - 60 | 149.10 |
| SAM 04 | 2590609 | 7245585 | 045 | - 60 | 455.35 |
| SAM 05 | 2590558 | 7245897 | 225 | - 60 | 393.00 |
| SAM 06 | 2590483 | 7246191 | 080 | - 60 | 400.30 |
| SAM 07 | 2590486 | 7246914 | 090 | - 70 | 328.00 |
| SAM 08 | 2590787 | 7246673 | 045 | - 60 | 106.20 |
All of the drill cores (HQ size) have been sawed in half with one half sent to Alex Stewart Labs in Mendoza for assaying. The remaining core record is warehoused. The copper assay results for DDH SAM 1 & 3 are complete. Receipt of the drill core copper assay results for all the other holes are pending with the exception of DDH SAM 4 which is complete to 142.00 meters depth. Copper mineralization of various intensities is present in portions of the pending assay intervals. The drill core samples are of two meter intervals taken continuously down the hole. No assays have been received for molybdenum or precious metals. The status of the assay results for the 8 drill holes are presented in Table II. Results for only those intervals that are considered to be significant are shown.
TABLE II
| DDH | From (m) | To (m) | Interval (m) | % Cu |
| SAM 1 (Complete) | 0.00 | 100.00 | 100.00 | 0.15 |
| 100.00 | 112.00 | 12.00 | 0.35 | |
| 112.00 | 122.00 | 10.00 | 0.16 | |
| 222.00 | 246.00 | 24.00 | 0.31 | |
| SAM 2 | 0.00 | 456.30 | 456.30 | Pending |
| SAM 3 (Complete) | 4.00 | 10.00 | 6.00 | 0.13 |
| 92.00 | 102.00 | 10.00 | 0.13 | |
| SAM 4 | 38.00 | 46.00 | 8.00 | 0.13 |
| 72.00 | 142.00 | 70.00 | 0.19 | |
| 142.00 | 455.35 | 313.35 | Pending | |
| SAM 5 | 0.00 | 393.00 | 393.00 | Pending |
| SAM 6 | 0.00 | 400.30 | 400.30 | Pending |
| SAM 7 | 0.00 | 328.00 | 328.00 | Pending |
| SAM 8 | 0.00 | 106.20 | 106.20 | Pending |
Marifil has not yet received the requested drill hole geologic logs, the drill hole sample coordination tables, the certified assay certificates, nor a statement on drilling and sampling Quality Assurance/Quality Control from Southern Copper. Until the Company obtains this information management is not able to comment on the significance of the results so far reported herein. The remaining drilling results are expected within the next months and the Company will release them as it receives them.
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. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.
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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.)
To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/951504_map.pdf
Contact
Marifil Mines Ltd.
John Hite
President
(702) 562-4880
jhite@marifilmines.com
Marifil Mines Ltd.
Hugh Oswald
Investor Relations
(604) 838-2855
hoswald@marifilmines.com
