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Gold/Mining/Energy : Minefinders, MFL -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (317)	10/7/2001 8:35:41 PM
From: marcos	Read Replies (1) \| Respond to of 578

Thanks Claude, that part has been 'painful' -g- ... ['dolores' = 'pains' in english] [but also a woman's name and the name of the town from which came el Grito de Dolores, the 'cry for independence' of 16 Sept 1810 ] I've wondered why mfl doesn't do a wsp/dsp.v-type spinoff, as geoff says, except keep the name, i.e. spin off Dolores into a company called, what else, Minera Dolores .... everything else kept under mfl.to ... it's a good solid little minefinding outfit, such a shame to see it all get taken out ... eh? [edit] - except that it may not be possible to 'spin off' the major asset, by exchange rules and all ... dunno ... well the name is great but it's not what's most important

To: Claude Cormier who wrote (317)	10/23/2001 10:50:37 AM
From: Paul-D	Read Replies (1) \| Respond to of 578

Tuesday October 23, 9:25 am Eastern Time Press Release SOURCE: Minefinders Corporation Ltd. Minefinders Corporation Ltd.: Significant Increase in Silver Grades Reported for the Dolores Gold & Silver Deposit in Mexico VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 23, 2001--Minefinders Corporation Ltd. (the ``Company'') (OTCBB:MNEFF - news; TSE:MFL. - news) Mark H. Bailey, President and CEO is pleased to report that additional results from the ongoing silver re-analysis program confirm that silver grades in the Dolores gold-silver deposit are significantly higher then originally reported. Re-analysis of additional low to mid-grade drill samples returned a weighted average increase in silver grade of 36.3%, substantiating the increase in grade as previously reported by the Company (News Release June 7, 2001). These certified assay results are based on multi-acid (``total'') digestion ore-grade analysis of samples taken from mineralized drill intercepts in direct comparison to the previously reported aqua-regia digestion analytical results. The current drill defined resource in Minefinders' 100% owned Dolores deposit, located in Chihuahua, Mexico, is 2.45 million ounces of gold and 129.7 million ounces of silver (NR 9-18-2000). The consequence of the revised assay data is an overall higher silver grade for the deposit resulting in a material increase in the total resource. The projected impact of higher silver grades on the current Dolores mine model is an increase in silver production, lower strip ratios, reduced production cost per ounce and accelerated cash flows. Comparison between multi-acid digestion results and the original aqua-regia digestion results for low to mid-grade silver mineralization at Dolores (up to 100 g/t) are presented in Table 1. Some intervals containing abundant silver-halide minerals increased in grade by more than 100%, such as in hole D98-114 from 156 to 172.2 meters grade increased from 44.0 g/t to 102.1 g/t Ag, (132.2% ) or, in hole D97-109 from 48 to 84.5 meters grade increased from 20.9 g/t to 49.5 g/t Ag (136.6%). Additionally, the multi-acid analysis of high-grade intercepts (more than 100 g/t silver) compared favorably to quantitative fire assay results for the same intervals. Table 1: (1,416 reanalyzed samples) --------------------------------------------------------------------- Type of Number Avg. Grade, Avg. Grade, Percent Percent of Mineral- of g/t g/t Change Resource ization Samples Ag Multi-Acid Ag Aqua Regia --------------------------------------------------------------------- Oxide 560 41.7 25.9 +61.2% 33.1% Mixed 492 35.3 28.8 +22.4% 42.7% Sulfide 277 28.6 25.3 +12.9% 24.2% Fire Assay Checks: High-Grade 87 292.3 282.3 F.A. +3.5% --------------------------------------------------------------------- These new results combined with the previously reported results (NR of June 7, 2001) are shown on table 2 below. The average weighted increase in silver grade for all the re-analyzed aqua-regia digested samples to date is 34.4 %. Table 2: (1,723 total reanalyzed samples) --------------------------------------------------------------------- Type of Number Avg. Grade, Avg. Grade, Percent Percent of Mineral- of g/t g/t Change Resource ization Samples Ag Multi-Acid Ag Aqua Regia --------------------------------------------------------------------- Oxide 679 41.2 25.9 +59.1% 33.1% Mixed 597 34.1 28.1 +21.6% 42.7% Sulfide 339 29.6 26.8 +10.4% 24.2% Fire Assay Checks: High-Grade 108 272.2 263.6 F.A. +3.2% --------------------------------------------------------------------- Previously calculated in-pit resources will increase in silver grade and additional tonnage blocks will move from waste to ore categories reducing the overall strip ratio. The net increases in projected total silver produced, cash flow, and overall economic return should be sizable. A modest increase in total gold production is expected due to the upgrade of marginal material to ore. The Company has now completed re-analysis of most intercepts from section 2600 through section 3300, including the southern portion of the 1,900 meter long Dolores deposit. The Company will complete a revised estimation model for this portion of the deposit, using the same parameters as the original resource calculation. Results will be reported as soon as they become available. The Company was originally alerted to the possibility of underreporting of silver values at Dolores when column-leach tests (by McClelland Labs) indicated that ores contained an average 30% more silver than that predicted from the original geochemical analysis of drill material. Total recovered silver from the deposit will reflect the increased silver grades and content of the deposit. All gold assays, and high-grade silver assays from Dolores were done using fire assay techniques and are not impacted by the change in low to mid-grade silver assay analysis technique. Metallurgical recovery rates and percentage recoveries predicted by column leach tests were based upon total digestion analysis procedures and also will not be affected by this new information. The Companys' re-analysis program is not only focused on silver grade in the 1,900 meter long main zone deposit, but will include re-analysis of silver intercepts in peripheral mineralized targets, not presently classified as resource. The Dolores deposit remains open in all directions with excellent potential to substantially increase the current gold and silver resource. The deposit has continued to increase in size and grade with the completion of each drill program, now totaling more than 61,000 meters in 289 drill holes. Additional infill drilling and engineering work are required to bring the current open-pit minable resource to a final feasibility. Step-out drilling to test the high-grade mineralization beneath the pit and satellite mineralization along strike and adjacent to the main zone deposit is expected to significantly increase the overall Dolores gold and silver resource as the deposit is brought to a final feasibility. The Company has consulted in detail with both ALS-Chemex quality assurance professionals and Bondar-Clegg Laboratories personnel in comparing the two analytical techniques. A total of 55 duplicate pulps were sent to Bondar-Clegg Laboratories for ore-grade silver analyses to confirm the new ALS-Chemex results. The average variance between the Chemex and Bondar Clegg ore-grade analyses were 2.3%. The 108 fire assay checks show a total average variance of only 3.2% and confirm the re-analysis accuracy. Quality assurance professionals from Chemex and Bondar Clegg and Minefinders management are qualified persons as defined by CSA/NI 43-101. On Behalf of the Board of Directors MINEFINDERS CORPORATION LTD. Mark H. Bailey, President and Chief Executive Officer Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking 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 represents 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. -------------------------------------------------------------------------------- Contact: Minefinders Corporation Ltd. Mark H. Bailey, 604/687-6263 Fax: 604/688-0378 www.minefinders.com Email this story - Most-emailed articles - Most-viewed articles