Efforts continued to assess the viability and projected returns from
construction of a mining operation. Preliminary results from ten test metallurgical columns initiated during the second quarter indicate that heapleach recoveries exceed a 70 per cent average gold recovery and also indicate that a coarser crush size leaches at an almost identical rate as a smaller crush
November 30, 2003
Widespread exploration drilling encountered new mineralization on the La Bolsa project, El Malacate project and La Dura prospect. At La Bolsa, a total of 20 core holes have been drilled in this new program to define and extend trends of higher-grade mineralization within the deposit to provide for optimal mine planning and expand the previously reported resource. Most of these holes have encountered significant high-grade mineralization, the best being LB03-32C with 42.7 m averaging 1.9 g/t gold including 4.8 m grading 13.85 g/t gold. A new resource estimation model will be assessed in relation to today’s higher gold and silver prices and the viability of moving the La Bolsa deposit towards a production decision. Results from additional drill holes are pending. Wide spaced drilling on the El Malacate project provided additional testing of the El Ruidito, Ahumada South and Cerro Palomino prospects. Initial drilling on the El Ruidito prospect cut 35 feet averaging 0.018 oz/ton gold and on the Cerro Palomino prospect drilling intercepted 125 feet averaging 0.01 oz/ton gold. The best hole on the La Dura silver prospect encountered 40 feet averaging 1.2 oz/t silver, and the highest 5 foot intercept graded 3.1 oz/t silver. Several additional holes are also planned for this prospect.
November 5, 2003
Minefinders has encountered new mineralization on the La Bolsa project, El Malacate project and La Dura prospects in Mexico. At La Bolsa, a total of 20 core holes were drilled to define and extend higher-grade mineralization within the deposit to provide for optimal mine planning and expand the previously reported resource. Most of these holes encountered significant high-grade mineralization, the best being LB03-32C with 42.7 m averaging 1.9 g/t gold including 4.8 m grading 13.85 g/t gold. A new resource estimation model will be assessed in relation to today’s higher gold and silver prices and the viability of moving the La Bolsa deposit towards a production decision. Wide spaced drilling on the El Malacate project provided additional testing of the El Ruidito, Ahumada South and Cerro Palomino prospects. Initial drilling on the El Ruidito prospect cut 35 feet averaging 0.018 oz/ton gold and on the Cerro Palomino prospect drilling intercepted 125 feet averaging 0.01 oz/ton gold. The best hole on the La Dura silver prospect encountered 40 feet averaging 1.2 oz/ton silver, and the highest 5 foot intercept graded 3.1 oz/ton silver. Several additional holes are also planned for this prospect.
