Marifil Mines said that the NW Vein System has been discovered at the San Roque project in a zone that hasn’t been drill tested yet.

The Canadian firm is the operator of the San Roque project with a stake of 51%, and is partnered by Novagold Resources’ wholly-owned subsidiary NovaGold Argentina, which holds the remaining stake of 49%. The mining property is owned by Minas San Roque, a joint venture between Marifil Mines and NovaGold Argentina.

Till date, 112 exploration holes totaling 16,683m have been drilled at the San Roque project, which is an advanced-stage exploration property that has overall shown promising drill results, as per Marifil Mines.

The Canadian resource company believes that the drill results till now support the potential for a large disseminated precious-metals-rich, polymetallic deposit.

Marifil Mines further said that the vein system new findings in addition to the drilled areas indicate potential for one or more gold-bearing epithermal quartz vein system deposits which could be conducive for surface slot mining or probably underground mining.

The company expects the new vein findings could, upon further investigation, also give scope for discovery of large, low grade bulk tonnage gold deposits at the San Roque project.

San Roque project manager and geologist Pedro R. Vera said: “In light of the epithermal gold bearing quartz veins we are now finding in undrilled areas of the property, we now have a new exciting zone to pursue in our next drill program.

“The more we are looking, the more gold showings of various sorts we continue to find”.

Overall, the mining property is secured by 37,055 hectares of mine rights, out of which 9,449 hectares are patented and private royalty free claims.

Marifil professional geologist and vice president Richard (Dick) Walters said: “This reconnaissance geologic mapping and sampling of the NW Vein System has turned up some new and exciting possibilities at San Roque.

“Perhaps even more exciting, Marifil found some areas of extensive rock silicification along the Enquentro vein zone containing numerous subparallel gold bearing quartz veinlets and veins where we intend to investigate the bulk tonnage gold deposit possibilities”.