Yes Marcos, here it is:
hursday June 4, 11:06 am Eastern Time
Company Press Release
Minefinders Corporation: Dolores Indicated and Inferred
Resource Exceeds 2 Million Ounces Gold-Equivalent
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--June 4, 1998-- Minefinders
Corp. (TSE:MFL. - news) Minefinders Corporation Ltd. (OTC BB:MNEFF - news; TSE: MFL -
news), reports an updated resource calculation from an independent engineering firm for its 100
percent owned Dolores gold-silver deposit in the state of Chihuahua, Mexico. MRDI Canada, a
division of H.A. Simons Ltd., produced the resource calculations as part of a prefeasibility scoping
study currently in progress.
The new resource classification has significantly increased and upgraded the previously announced
geological resource estimate to the indicated and inferred categories. Only the indicated and inferred
resource categories are approved by MRDI for release at this time. The deposit remains open in all
directions and additional drilling is required to upgrade tonnages currently classified as potential
resource (an additional 30 million tonnes) into the indicated and inferred resource categories.
Grade-tonnage tables were tabulated for gold, silver, and gold- equivalent blocks above cutoff
grades of 0.3 g/t, 0.5 g/t, 1.0 g/t, 2.0 g/t, and 3.0 g/t. Only the 0.5 g/t AuEq cutoff is presented here
although the 0.3 g/t and 1.0 g/t AuEq cutoff grades will be considered during the economic
evaluation of the deposit.
INVERSE DISTANCE 5 MODEL (UNCAPPED) GOLD-EQUIVALENT
cutoff grade Metric Grade Ounces Ounces Ounces
0.5 g/t AuEq tonnes g/t AuEq AuEq Gold Silver
Indicated 23,912,000 1.456 1,119,585 690,948 32,147,763
Inferred 30,385,000 1.245 1,216,166 713,894 37,670,134
Total 54,297,000 1.338 2,335,751 1,404,842 69,817,897
INVERSE DISTANCE 5 MODEL (CAPPED) GOLD-EQUIVALENT
cutoff grade Metric Grade Ounces Ounces Ounces
0.5 g/t AuEq tonnes g/t AuEq AuEq Gold Silver
Indicated 23,615,000 1.302 988,217 607,700 28,538,280
Inferred 29,924,000 1.093 1,051,683 619,931 32,381,419
Total 53,539,000 1.185 2,039,900 1,227,631 60,919,699
NEAREST NEIGHBOR MODEL (UNCAPPED) GOLD-EQUIVALENT
cutoff grade Metric Grade Ounces Ounces Ounces
0.5 g/t AuEq tonnes g/t AuEq AuEq Gold Silver
Indicated 17,684,000 1.964 1,116,820 686,688 32,260,130
Inferred 20,317,000 1.776 1,160,095 687,907 35,414,841
Total 38,001,000 1.864 2,276,915 1,374,595 67,674,970
Three resource models out of the six completed thus far are presented for comparison purposes.
The Nearest Neighbor Model (uncapped) represents a polygonal block model, similar in
methodology to the previously announced resource estimate (Sept. 1997). The two other models
reflect geostatistical analysis and the impact of capping high-grade composite values on the grade
and tonnage in the deposit.
Examples of additional grade-tonnage calculations include the ID5 model at a 1.0 g/t AuEq cutoff
which produced an indicated and inferred resource (capped) totaling 24,284,000 metric tonnes at an
average grade of 1.754 g/t AuEq and (uncapped) 26,032,000 metric tonnes averaging 2.018 g/t
AuEq.
The revised resource calculations are based on results from more than 35,000 metres of drilling in
160 diamond core and reverse-circulation drill holes covering a mineralized strike length of
approximately 1,800 metres. Data were compiled on more than 65 cross-sections at 25 metre
intervals and 60 plan levels at 5 metre elevations. Drill assays are composited on five metre intervals
and modeling was developed using 10m x 10m x 5m blocks.
The ID5 model (capped) was one of several modeling techniques used by MRDI and the one they
felt best represented the mineral deposit at this stage of development. Capping of high-grade gold
and silver composite values was set at 4 grams for gold and 180 grams for silver by MRDI to limit
the influence of high-grade drill intercepts. Gold-equivalent grade and ounces are calculated using
$300/ounce for gold, $6/ounce for silver, with recoveries of 75 percent for gold and 50 percent for
silver, as shown in the following equation.
AuEq = Au + Ag x Ag recovery x Ag price.
---------------------------
Au price x Au recovery
The previously announced resource estimate in September 1997, (at 0.5 g/t cutoff) of 25,255,663
metric tonnes (27,839,603 tons) averaging 1.92 g/t (0.056 oz/t) gold-equivalent included other
mineralized zones, such as the East Dike Zone, which are not part of this current study. Stepout
drilling to test these other target areas continues and infill drilling to enhance the main zone deposit is
ongoing. Management anticipates an additional 200-300 drill holes will be required to advance this
deposit to a final feasibility.
Minefinders operates advanced exploration projects in Mexico and the United States and continues
to acquire and develop precious metal properties in the Americas.
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 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.
Contact:
Minefinders Corporation Ltd.
Mark H. Bailey, 604/687-6263
604/688-0378 (FAX)
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