# Marifil Reports a Positive Opening NI 43-101 Resource at San Roque Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5 Original source: https://money.tmx.com/en/quote/ICON/news/8738386525950934/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque Publisher: tmx Original announcement: 2019-07-22T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Marifil Mines Limited - Ticker: MFM - Exchange: TSX - Region: Rio Negro Province, Argentina - Primary commodity: Gold - Secondary commodities: Zinc, Silver, Indium, Lead - Document categories: Resource update - Extracted: 2026-08-21 12:57:32 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Marifil Mines Limited has announced its first NI 43-101 mineral resource estimate for the San Roque property in Argentina. The maiden Inferred resource totals 32.89 million tonnes at 1.42 g/t gold equivalent, featuring significant gold, zinc, silver, indium, and lead content. Reasoning: The announcement reports a maiden NI 43-101 resource of 32.9 Mt at 1.42 g/t AuEq. While the scale is significant, the entire resource is in the Inferred category and lacks metallurgical validation. - Positive factor: Maiden resource establishment - Positive factor: Large polymetallic scale - Positive factor: Significant indium and silver credits - Negative factor: 100% Inferred category - Negative factor: No metallurgical recovery tests completed - Negative factor: Conceptual pit shells only Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 11 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The company announces it has received the first mineral resource estimate for the San Roque property. Evidence · text > announces that it has received the first mineral resource estimate **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The entire resource is classified as Inferred. Evidence · text > conceptual open pit constrained Inferred Mineral Resource **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource was prepared in accordance with NI 43-101 standards. Evidence · text > prepared in accordance National Instrument 43-101 **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: While cut-offs are mentioned in the text for the summary, the specific compositing rules for the reported intervals are not explicitly detailed in the summary table. Evidence · text > The estimated resource Cut-Off grades were derived from the following assumptions ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (11) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-0) gold #### Identity - Commodity: gold - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 32891400 - Grade: 1.42 - Grade Unit: g/t AuEq - Contained Metal: 1499900 - Contained Unit: oz AuEq #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Maiden resource estimate for the project. - Positive factor: Maiden resource - Negative factor: All Inferred Evidence · text > conceptual open pit constrained Inferred Mineral Resource of 32,891,400 tonnes of 1.42 grams per tonne gold equivalent ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-1) gold #### Identity - Commodity: gold - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 7121500 - Grade: 0.72 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Oxide component of the maiden resource. Evidence · table > 0.72 Context: 7,121,500 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-2) silver #### Identity - Commodity: silver - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 7121500 - Grade: 8.78 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Silver grade in oxide zone. Evidence · table > 8.78 Context: 7,121,500 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-3) lead #### Identity - Commodity: lead - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 7121500 - Grade: 0.28 - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Lead grade in oxide zone. Evidence · table > 0.28 Context: 7,121,500 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-4) zinc #### Identity - Commodity: zinc - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 7121500 - Grade: 0.37 - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Zinc grade in oxide zone. Evidence · table > 0.37 Context: 7,121,500 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-5) indium #### Identity - Commodity: indium - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 7121500 - Grade: 7.7 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Indium grade in oxide zone. Evidence · table > 7.70 Context: 7,121,500 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-6) gold #### Identity - Commodity: gold - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 25769900 - Grade: 0.39 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Sulphide component of the maiden resource. Evidence · table > 0.39 Context: 25,769,900 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-7) silver #### Identity - Commodity: silver - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 25769900 - Grade: 12.99 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Silver grade in sulphide zone. Evidence · table > 12.99 Context: 25,769,900 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-8) lead #### Identity - Commodity: lead - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 25769900 - Grade: 0.41 - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Lead grade in sulphide zone. Evidence · table > 0.41 Context: 25,769,900 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-9) zinc #### Identity - Commodity: zinc - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 25769900 - Grade: 0.89 - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Zinc grade in sulphide zone. Evidence · table > 0.89 Context: 25,769,900 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/marifil-reports-a-positive-opening-ni-43-101-resource-at-san-roque--dd5a9343-cee8-4ce5-8f86-60bb68076df5#fact-resource-facts-10) indium #### Identity - Commodity: indium - Ticker: MFM #### Resource Data - Category: inferred - Tonnes: 25769900 - Grade: 13.06 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-22T00:00:00.000Z Reasoning: Indium grade in sulphide zone. Evidence · table > 13.06 Context: 25,769,900 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.