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NEWS Castillian Approves $3.4 Million Exploration Budget for Marifil`s San Luis Project SPOKANE, WASHINGTON, Jun 26, 2007 (MARKET WIRE via COMTEX News Network) -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ("Marifil" or "the Company") reports that the Board of Directors of Castillian Resources Corporation (Castillian) (TSX VENTURE: CT) has approved an exploration budget that includes C$3.4 million earmarked "to aggressively explore" Marifil's Las Aguilas target on the San Luis belt project located in the San Luis province of Argentina. (See Marifil Release of May 22, 2007.) According to Castillian`s press release: "A program of delineation drilling on the Las Aguilas Deposit will commence in July (see (Castillian) Press releases dated March 6 and May 17, 2007 for further details). Approximately 6,000 meters of drilling will be completed to expand the Las Aguilas Deposit and redrill certain sections in order to evaluate the platinum group element (PGE) potential. Recent sampling has demonstrated significant platinum values associated with the deposit and PGEs were not assayed during previous drill campaigns. VTEM airborne surveying totaling approximately 3,200 line kilometers will be completed, over key parts of the extensive land package and follow up will commence as soon as data is processed. Castillian may earn up to a 65% interest in the projects from Marifil Mines Limited." The San Luis property is a 54,573-hectare nickel-copper-PGM ("platinum group metals") property located along a prospective belt of differentiated ultramafic rocks and believed to be highly prospective for PGM's, particularly platinum. The property is wholly-owned by Marifil, except for an underlying royalty held by BHPBilliton on a small portion of the property, which Marifil had purchased from that company. This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd., a Qualified Person as defined by National Instrument 43-101. The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. 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 (509) 467-5200 Marifil Mines Ltd. Greg Taylor Investor Relations Toronto area (905) 337-8475 Email: gtaylor@marifilmines.com Website: www.marifilmines.com SOURCE: Marifil Mines Ltd. mailto:gtaylor@marifilmines.com http://www.marifilmines.com Copyright 2007 Market Wire, All rights reserved. |
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| aus der Diskussion: | Marifil Mines startet durch |
| Autor (Datum des Eintrages): | sparplan_b (26.06.07 20:00:15) |
| Beitrag: | 8 von 33 (ID:30333128) |
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