Vancouver-Marifil Mines Ltd. reports that it has staked two additional claims totaling 17,456 hectares on its K-3 potash project, and four additional claims totaling 30,000 hectares on its K-4 potash project, both in Mendoza Province, Argentina. The K-3 project now covers 64,606 hectares and the K-4 project now covers 56,083 hectares, both in the northern portion of the Neuquen Sedimentary Basin. The Neuquen Basin is Argentina’s most prolific oil producing basin, and also hosts the country’s only producing potash mine Potassio Rio Colorado, owned by RTZ. The K-3 and K-4 properties have been acquired on the basis of regional geologic studies to determine which parts of the basin are prospective for potash. In addition, Marifil geologists identified a significant, previously unrecognized sulfur prospect located largely in the K-4 claim block. “Marifil is now the largest potash play in Argentina aside from the assets of Vale’s Rio Potasio deposit, and has now covered all of the prospective ground in the northern half of the Neuquen Sedimentary Basin,” said John Hite, Marifil president. “We are highly encouraged by the discovery of a second biogenic sulfur prospect. Last year sulfur prices hit a low of $30 per ton, but now prices are approaching $200 per ton. We expect to begin an aggressive exploration program, including drilling on both the Codihue and S-2 prospects in the coming months.”
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