NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: MINEFINDERS CORPORATION LTD.
TSE SYMBOL: MFL
MARCH 25, 1998
Minefinders Corp.: Prefeasibility Study Begins on Dolores
Gold-Silver Deposit
VANCOUVER, BRITISH COLUMBIA--Minefinders Corporation Ltd. (TSE:
MFL), Mark H. Bailey, President is pleased to report that MRDI
Canada, a division of H. A. Simons Ltd., has been retained to
undertake a preliminary feasibility study on the Main Zone of the
Dolores gold-silver deposit located in the state of Chihuahua,
Mexico. As part of this engagement, MRDI, in the next four to
five weeks, will complete an updated resource estimate,
incorporating 75 additional drill holes not included in the
initial resource estimate of 1.2 million ounces gold and 45.8
million ounces silver (2.12 million ounces gold-equivalent),
announced in August 1997. Management believes that the new
resource estimate will substantially increase the contained ounces
of gold and silver in the Dolores deposit.
The attached map depicts the prefeasibility study resource area,
covering approximately 1,600 metres of strike length. It also
shows areas of additional mineralization not sufficiently drill-
tested to incorporate into the prefeasibility study. Stepout
drilling is continuing in these areas to expand the resource over
an additional 1,000 metres of strike length to the south.
Infill drill results continue to confirm and expand the Main Zone
deposit over 1,600 metres of strike length. The following table
lists results from recently completed infill drill holes.
/T/
Table: Infill Drill Results
Drill Interval Length Gold Silver eq.Gold Target
Hole no. metres metres g/T g/T g/T Area
D98-R76 21.3-96.0 74.7 1.37 46.3 2.30 Main
including 44.2-64.0 19.8 2.26 87.4 4.01 Zone
76.2-79.2 3.0 4.32 12.1 4.56 Chabacan
88.4-91.4 3.0 6.45 284.6 12.14
and 111.2-140.2 29.0 0.38 41.8 1.22
D98-113 49.3-242.3 193.0 0.89 82.2 2.53 Main
including 49.3-76.1 26.8 1.54 139.2 4.32 Zone
89.4-124.8 35.4 0.65 47.0 1.59 Hondo
148.4-160.0 11.6 2.26 166.6 5.59 south
212.1-242.3 30.2 1.68 150.2 4.68
D98-114 45.7-231.9 186.2 0.69 50.2 1.69 Main
including 45.7-60.1 14.4 1.61 97.0 3.55 Zone
118-131.4 13.4 1.30 119.8 3.70 Hondo
140.5-179.7 39.2 1.20 43.2 2.06 south
207.6-231.9 24.3 1.00 72.1 2.44
/T/
Drill holes D98-113 and 114 were drilled at shallow angles (-35
degrees and -20 degrees from horizontal) to test near surface
mineralization (see attached cross-section). Included in this
wide zone of mineralization, at the south end of the resource
area, are several high-grade intervals, including: 6.5 metres
averaging 5.52 g/T gold and 420.4 g/T silver, 4.6 metres averaging
5.8 g/T gold and 405.6 g/T silver and 2.9 metres averaging 10.7
g/T gold and 888 g/T silver.
Stepout drilling has extended ore-grade mineralization more than
500 metres to the south of the prefeasibility resource area. Two
holes (R74 and R75) were drilled from a new road built to provide
better access to test mineralization encountered in D97-R3
(drilled February 1997), which bottomed in 6.1 metres averaging
12.51 g/T gold. Both of these new holes intercepted
mineralization exhibiting low silver to gold ratios, consistent
with that found in the Main Zone deposit 1,000 metres to the
north.
/T/
Table: Stepout Drill Results
Drill Interval Length Gold Silver eq.Gold Target
Hole no. metres metres g/T g/T g/T Area
D98-R70 82.3-91.4 9.1 1.30 76.1 2.82 La Bohemia
D98-R72 44.2-51.8 7.6 4.53 60.0 5.73 La Bohemia
D98-R73 134.1-158.5 24.4 0.65 127.5 3.20 South
D98-R74 121.9-138.7 16.8 1.47 32.6 2.12 Southwest
including 134.1-138.7 4.6 3.67 94.7 5.56 Extension
D98-R75 111.2-179.8 68.6 0.79 6.3 0.92 Southwest
including 126.5-147.8 21.3 1.13 3.6 1.20 Extension
172.2-178.3 6.1 1.58 23.2 2.04
/T/
Stepout drilling continues to test the extent of mineralization
over an additional 500 metres of strike length south of drill
holes R74 and R75.
Minefinders operates advanced exploration projects in Mexico and
the United States and continues to acquire and develop precious
metal properties in the Americas.
Safe Harbor Statement under the United States Private Securities
Litigation Act of 1995: Statements in this release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors identified above and
in the corporation's periodic filings with the Ontario Securities
Commission and the U.S. Securities Exchange Commission. Such
information contained herein represent management's best judgment
as of the date hereof based on information currently available.
The corporation does not intend to update this information and
disclaims any legal liability to the contrary.
On Behalf of the Board of Directors of MINEFINDERS CORPORATION
LTD.
Mark H. Bailey, President and Chief Executive Officer
Note: Location maps available from the Company at the phone number
listed below.
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