NEW GOLD ZONE DEFINED - DRILLING COMMENCED AT DOLORES
Minefinders Corporation Ltd MFL
Shares issued 14,171,685
2000-01-11 close $0.77
Wednesday Jan 12 2000
Mr. Mark Bailey reports
Minefinders has released the results from additional
surface sampling on the company's 100 per cent owned El
Malacate and El Ruidito prospects, Sonora, Mexico.
The El Malacate and El Ruidito epithermal gold prospects
are contiguous east-west trending gold mineralized zones of
up to 100 metres in width, that contain quartz-calcite
stockworks along a strike length of 3,500 metres. The
prospects lie within a much larger 20-square-kilometre
area, that contains anomalous gold mineralization and is
located within the company's northern Sonora concessions,
approximately 13 kilometres southeast of the 190,000-plus-
ounce La Bolsa gold deposit.
Rock chip sampling on the El Ruidito prospect has returned
gold values averaging 1.4 grams per tonne gold over 600
metres of strike (32 samples), with individual two-metre
outcrop samples assaying up to 9.3 g/t (0.27 ounce per
ton). At the El Malacate prospect, 61 of the 95 samples
returned anomalous gold values over an 800-metre strike
length. Individual samples contained gold values of up to
2.9 g/t over three metres and 1.9 g/t over 30 metres.
Mineralization occurs as quartz-calcite stockworks,
breccias and veins hosted in clastic sediments, carbonates
and volcanic flows intruded by rhyolite dikes and plugs.
Exploration will continue during the first quarter with
geological mapping, trenching, and geochemical sampling to
advance these two prospects to the drill stage in 2000.
Additionally, detailed geology and geochemical sampling
programs will continue on the 10 other gold-silver
prospects previously identified on Minefinders northern
Sonoran claim block.
Dolores
Drilling has commenced on the company's Dolores deposit,
with the objective of significantly expanding the current
resource of 1.91 million ounces of gold and 111.6 million
ounces of silver (at 0.5 g/t Aueq cutoff). Infill and step-
out drilling with reverse circulation and diamond core
drills will continue through the first quarter of 2000.
Results from this program are expected to increase the size
and grade of the deposit, while advancing the open pit
minable resource to a full feasibility study.
Minefinders has an exceptional record of discovery in
Mexico, and management continues to be bullish on its
prospects for additional discovery in this target-rich
environment.
WARNING: The company relies upon litigation protection
for "forward-looking" statements.
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