hasslethehoff
5 years ago
CEO Rob Abenante named in class action suit
https://www.vancourier.com/investors-launch-class-action-suit-in-alleged-bridgemark-group-stock-scheme-1.23885623
"Two investors have launched a class action lawsuit against a group of alleged purported consultants, known as the Bridgemark Group, and 11 public companies who are subject to a fraud investigation by the B.C. Securities Commission."
https://www.bridgemarkclassaction.com/
"91. The Defendant, Robert Abenante (“Abenante”), is a resident of Vancouver, British Columbia and was, at all material times in 2018, a director and the President and Chief Executive Officer Abattis Corp., with an address for delivery at Suite 224 - 970 Burrard Street, Vancouver, British Columbia."
ThSeeker
5 years ago
Marifil Provides Exploration Updates and Announces Feature on BNN
BY GlobeNewswire
— 9:58 AM ET 07/03/2019
VANCOUVER, British Columbia, July 03, 2019 (GLOBE NEWSWIRE) -- Marifil Mines Limited ( MFMLF ) (“Marifil” or the “Company”) is pleased to provide the following update on its latest mineral exploration activities in the prolific gold districts of San Juan Province, Argentina. In addition to these updates, the Company also is pleased to announce that it will be featured in an upcoming BNN Bloomberg (“BNN”) segment, in which Marifil Executive Vice President and Director, Richard R. Walters, will discuss the Company as well as its flagship San Roque property, located in the mining friendly Province of Rio Negro, Argentina (“San Roque”).
Ortiquita Project Claim Application
Recently, the Company’s agents in Argentina have successfully obtained the exclusive exploration rights to 2,166 hectares (~21.7 km2) in the historically productive El Indio Gold Belt, a mineral rich region of the Andes Mountains spanning the border between Chile and Argentina that contains large gold, silver and copper mines. Specifically, the Company lodged a cateo, or mining exploration claim (“Cateo”), on land open for claims staking, located roughly 12 km north-northeast of Barrick Gold Corporation’s Veladero gold mine on the Pascua-Lama to Veladero epithermal gold deposits trend within the Province of San Juan, Argentina. This Cateo is named Ortiquita and shares a 250 square kilometer crowded field of mine claims which belong to competitors in the area. This was an opportunistic acquisition by Marifil, which through researching title records discovered an old Cateo that had expired and was now open for claim location. The large block of mine claims contains significant hydrothermal alteration as depicted by satellite imagery. Favorably altered and gold mineralized volcanic rocks have also been found in past explorations by various companies working the large claim block. However, the Company has not yet obtained or produced a technical data base for the Ortiquita Cateo, and although it is situated within a highly prospective epithermal gold zone, specific gold drilling targets remain to be identified, if any, on the Ortiquita Cateo by future geologic examinations the Company intends to accomplish.
Castaño Mine Claims Applications
Elsewhere in the Province of San Juan and located on the east front of the Andes Mountains, the Company has also applied for 3,946 hectares of contiguous mine claims (the “Castaño Mine Claims”). This parcel includes two exploration Cateos totalling 3,838 hectares, covering land that was open for staking, in addition to four existing separate, perfected mine rights (“Minas” or “Mine Rights”). These Minas amount to 108 hectares and were recently declared vacant by the San Juan Department of Mines (“SJDM”). Minas are real property that exist indefinitely until their contained minerals are proven to be exhausted. There is industry competition for some of these claims. As such, the Company’s claim applications are currently being processing by the SJDM who will determine which parties will prevail in obtaining the various claims. The Company expects to know the outcome of this process within the next two months, and although it is optimistic it will attain most, if not all, of the mine claims, there is no assurance the Company will prevail in its efforts.
In addition, Marifil has learned that a major international mining company had operated some 10 years ago in the zone of the claims the Company is now applying for. Their previous work defined a prospective gold zone about 10 kilometers long, but the company subsequently abandoned their claims when a corporate decision was made to cease business operations in Argentina. A reconnaissance field examination by Marifil’s geological staff confirmed this prospective zone to be part of a northeast trending complex of hydrothermally altered intrusives (quartz-monzonite porphyries) and associated hydrothermal breccias containing geochemically anomalous gold and copper. Proximal to the porphyry and breccia complex are several lead-zinc-silver and copper-gold veins that make up portions of the abandoned Castaños Viejo mining district, and for which Minas are included in the Company’s claims applications.
Should the Company succeed in obtaining the Cateos being applied for, and subject to availability of additional funding, the Company will set out to identify specific exploration drilling targets for large intrusive (porphyry) and volcanic breccia hosted deposits containing disseminated gold mineralization.
“While the Company’s primary focus remains on San Roque, our seasoned exploration team continues to explore for mineral rich properties within the gold districts of San Juan province, to add to Marifil’s already impressive asset portfolio,” stated Robert Abenante, President & CEO of Marifil. “As gold continues to gain momentum, our ongoing exploration efforts will continue to strengthen our position in the industry, ” added Mr. Abenante.
ThSeeker
5 years ago
National Inflation Association
Gerard Adams:
NIA believes we are now at the point where we are about to see many gold exploration stocks breakout big for large short-term percentage gains and the gold exploration stock that is best positioned to explode in the upcoming weeks is: Marifil Mines Ltd (TSXV: MFM) currently trading for $0.14 per share.
The world’s largest gold explorer with a market cap of CAD$2.5 BILLION is Nova Gold (TSX: NG) and already NG has soared 40% over the past month to reach a new 2 1/2 year high! NG's market cap this past month has increased by a stunning CAD$700 MILLION! NG is worth CAD$2.5 billion because it owns 50% of Donlin Gold, one of the largest known, undeveloped gold deposits in the world – located in Western Alaska with probable reserves of 33.8 million oz of gold.
What most people don’t know is that in addition to NG’s 50% ownership of the Donlin Gold project in Western Alaska, NG is also exploring a major gold project in Argentina called the San Roque project. NG owns a 49% stake in the San Roque project. NG’s joint venture partner and 51% owner of the San Roque project is Marifil Mines Ltd (TSXV: MFM) and the company has just disclosed on their web site that, “A full San Roque NI 43-101 Report is in progress and is expected to be published in August 2019.” MFM's web site also says that the independently generated NI 43-101 Report will show a HUGE inferred gold resource of 1.58 million ounces of gold equivalent mineralization consisting of 35,484,000 tonnes of 1.39 g/t gold equivalent at a cut-off of 0.6 g/t gold equivalent.
According to MFM, their 1.58 million oz gold equivalent resource will include 505,000 oz of gold, 13,457,000 oz of silver, a combined 906 million lbs of lead and zinc, plus 13,207,800 oz of indium an element vital to the global digital electronics industry that is currently priced at $10 per oz. Based on current metals prices, MFM's maiden inferred resource will show $710 million worth of gold, $203.6 million worth of silver, and if we estimate that MFM's base metal content of 906 million lbs is 50% lead and 50% zinc it will have a value of $906 million, in addition to $132 million worth of indium! All together, this adds up to a total in-ground valuation of $1.952 billion of which MFM's 51% stake will value their controlling interest at $995.3 million!
MFM only has 58.37 million shares outstanding for a current market cap at $0.14 per share of CAD$8.172 million or USD$6.26 million! Currently, we are aware of no other company with a market cap this low that has just discovered such a large maiden resource with their controlling stake having an in-ground valuation of nearly $1 BILLION! We also have never before seen a publicly traded gold exploration company with a market cap of less than USD$10 million be the project operator of a major joint venture with a $2.5 BILLION company!
Over the past month, NG by far has seen the largest market cap increase out of all gold exploration stocks! Investors have made a fortune on NG! What do you think will happen in August when NG discloses San Roque's HUGE maiden resource and they see that MFM is the project operator!
Already, MFM and NG have completed a total of 16,683 meters of drilling at San Roque making it an advanced-stage gold exploration property. Typically, gold explorers see major market cap increases when they go from having no NI 43-101 resource to a very large NI 43-101 resource!
San Roque is a district scale project comprising 37,055 hectares of mine rights of private royalty-free claims, located near the Atlantic coast in the Province of Rio Negro, Argentina. To prepare its Technical Report, MFM retained the services of Tetra Tech Canada Inc, a prominent, global consulting firm with a reputation for high quality scientific and engineering work.
Last year, MFM completed its latest drilling campaign at San Roque, bringing the total number of exploration drill holes on the Property to 112 of which 11 are of reverse circulation drilling and 101 are of diamond core drilling, which generates higher quality sampling data. MFM has officially now demonstrated that a large volume of mineralized material exists on the Property and we expect MFM to become the biggest gold exploration play in the entire market after its NI 43-101 Report is made public next month!
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