Minefinders brings Dolores to feasibility (April 28, 2004)

Vancouver-based Minefinders (MLF-T) will release an updated resource calculation for the Dolores gold-silver property in Mexico’s Chihuahua state.

The estimate will be incorporated into the final mine plan and feasibility study, scheduled for completion later this year. M3 Engineering & Technology is the lead firm for all aspects of the study, with other firms contributing in the certain key areas, such as metallurgy and a final audit of the resource estimate.

Last summer, Minefinders reported that Dolores hosted a measured and indicated resource of 84.8 million tonnes containing 2.3 million oz. gold and 116.2 million oz. silver. Inferred resources provide another 39.5 million tonnes containing 1.1 million oz. gold and 39.5 million oz. silver.

Last year, Minefinders drilled 110 more holes, or 59,000 metres, to bring the total amount of drilling on the property to 113,284 metres in 510 holes.

The company spent $9.8 million in 2003, mostly to advance Dolores to the feasibility stage. Some exploration was carried out on other properties in Mexico. At year-end, the company’s cash and cash equivalents stood at $59.2 million.