The tests were highly successful and the company intends to move forward with further testing and drilling of this gold deposit.
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Marifil Mines Ltd. (TSX: V.MFM, Stock Forum) said it has received preliminary results from bottle roll cyanide recovery tests from the Zone 34 oxide gold target at the San Roque project, Rio Negro Province, Argentina.
Marifil submitted composite drill core samples from three holes to the Alex Steward Argentina S.A. laboratory for testing.
According to the Marifil Mines press release, the purpose of these tests was to determine the amenability of the oxide mineralization to heap leach gold extraction.
The bottle roll tests were carried out at a pH of 11.2. The results for the 96 hour leach were 92.43%, 85.28%, and 95.14% recoveries of gold respectively.
Silver recoveries were lower than expected, however this is typical for heap leach operations. Silver accounts for less than 20% of the dollar value of the deposit.
Marifil is an exploration company that operates through a joint venture model in Argentina, home of some of the world's most prolific resource discoveries.
On Tuesday, Marifil was up 40% and was trading at $0.07 a share. The company has a market cap of $4.5 million, based on $64.2 million shares outstanding. The 52-week high and low was $0.25 and $0.05 respectively.
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