Vancouer – Minefinders’ (MFL-T) new resource estimate places 94 to 98% of the in-pit resource for its wholly-owned Dolores project, in Chihuahua, Mexico, into the measured and indicated category. This moves the project a step closer to final feasibility because the open pit mine design is based on measured and indicated resources only.
The in-pit measured and indicated resource at Dolores is now pegged at 68 million tonnes grading 0.877 grams gold and 46.3 grams silver per tonne for 1.9 million oz. gold and 101.7 million oz. silver contained (at the 0.3 gram gold cutoff).
Recent infill drilling increased the global measured and indicated resources by 10% to 93 million tonnes, containing 2.6 million ounces gold and 123 million ounces silver (at a 0.3 gram cutoff). An additional 700,000 ounces of gold and 24.3 million ounces of silver are still classified as an inferred resource within the current block model.
Condemnation drilling now underway is also targeting several peripheral zones of surface mineralization.
Meanwhile, the engineering team is looking at a mine design that optimizes financial returns at gold prices of US$300 to $350 an ounce and silver prices of US$5 to $5.50 an ounce.
Minefinders has completed most of the necessary work to generate accurate cost assessments, generate optimized pit shells, scaling of process plant and infrastructure, mine equipment lists, to qualify for a bankable level feasibility study.
An updated Dolores feasibility study earlier this year estimated the date to completion for the final feasibility study in the fourth quarter this year, in time to qualify for mine financing and initiate mine construction in 2005.
Although the company had intended to release interim feasibility results and financial models this spring, it thought that by doing so, would cause delays in the release of the final feasibility study.
Be the first to comment on "Minefinders firms up Dolores in-pit resource"