New Mineralization Discovered At La Bolsa
VANCOUVER, BC - Minefinders Corporation Ltd. reported positive results from the Company's 2009 drill program at their 100 percent owned La Bolsa property located in Sonora, Mexico.
Step-out drilling has encountered a significant new zone of gold and silver mineralization approximately 200 meters east of the current La Bolsa resource. These initial drill results confirm the presence of high-grade gold and silver mineralization including 6.0 meters containing 12.063 gpt Au and 109.8 gpt Ag (19.7 feet with 0.352 opt gold and 3.20 opt Ag), and 20.5 meters containing 2.099 gpt Au with 35.4 gpt Ag (67.3 ft with .061 opt Au and 1.03 opt Ag). Six of the 19 drill holes completed during the current drill campaign targeted this new area of mineralization. While these results represent a significant expansion of the mineralized zone at La Bolsa, additional drilling is required to assess the extent and full potential of this newly discovered mineralization. In addition to core drilling in progress, a reverse-circulation drill rig has been mobilized to site to accelerate resource definition and expansion efforts.
Drilling results from the 162 drill holes (78 reverse-circulation holes and 84 core holes) completed to date at the La Bolsa property will be incorporated into an updated resource model and reported in a National Instrument 43-101 compliant technical report expected to be filed during the third quarter of this year. This will be the first NI 43-101 compliant resource for the La Bolsa property.
Gold mineralization at La Bolsa occurs within a shallow east-dipping oxidized blanket that is subparallel to topography and approximately 900 meters (3,000 feet) in length and 365 meters (1,200 feet) in width with thicknesses that range from 10 to 50 meters (30 to 165 feet). The recent drilling at La Bolsa has now extended that zone to nearly 600 meters (2,000 feet of width) and this mineralization remains open both down-dip and along strike.
Minefinders has also commenced a pre-feasibility study of the economic viability of a mine at the La Bolsa property and expects to have results available in another NI 43-101 compliant technical report by the end of this year.
The company’s address is