MINEFINDERS DRILLS SILVER AT REAL VIEJO
June 9, 2004
VANCOUVER, BRITISH COLUMBIA – Minefinders Corporation Ltd. (the “Company”) (TSE: MFL / AMEX: MFN), Mark H. Bailey, President and CEO, is pleased to report that significant silver mineralization has been encountered in four of the first five drill holes completed on the Company’s 100% owned Real Viejo silver project located in Sonora, Mexico.
In particular, core hole RV-04-4C encountered multiple high-grade drill intercepts, including 634 grams per ton silver over 1.3 meters length (18.5 ounces per ton silver over 4.3 feet) and 516 grams per ton silver over 1.5 meters (15.1 ounces per ton silver over 4.9 feet), within a larger intersection of 27.5 meters averaging 158.7 grams per ton silver from 69.3 to 96.8 meters (4.6 ounces per ton silver over 90.2 feet). A second zone in the same drill hole graded 131.8 grams per ton silver from 16.0 to 28.6 meters (3.85 ounces per ton silver over 41.3 feet). These initial, wide spaced drill holes confirmed silver mineralization at Real Viejo over a strikelength of more than 400 meters (1300 feet), and indicate near surface, bulk tonnage potential for silver mineralization with accessory amounts of lead (Pb), zinc (Zn), and copper (Cu).
Mineralization at Real Viejo occurs within a large, complex stockwork vein system exposed in outcrop over a width of 300 meters and a length of 600 meters. The strongest silver mineralization, intersected in drill hole RV04-4C, is located more than 380 meters (1,250 feet) east of the silver mineralization encountered in RV04-2C, and is approximately 410 meters (1350 ft) from the mineralization found in RV04-3C. Drill hole RV04-3C was located approximately 410 meters (1350 ft) to the west of RV04-4C and silver mineralization in this hole was associated with relatively strong zinc anomalies, which may provide an indication of primary zonation within the system. Drill hole RV04-1C was drilled beneath and 90 meters west of the mineralization found within RV04-4C.
Highlights of drilling from the first five core holes are shown below:
Please click here to view table
The initial drill intercepts indicate a large mineralized system exposed at surface and containing multiple zones of silver mineralization with excellent potential for expansion. Strong base metal anomalies surround the silver zones and are generally consistent from surface to over 100 meters of thickness. Drill hole RV04-5C was the only drill hole that did not intersect significant silver mineralization, as it was drilled primarily within a large diorite plug. This underlying diorite plug and related porphyry and rhyolitic dikes were intruded into volcanic flows and tuffs of the area and are likely related to the mesothermal mineralized system.
The Real Viejo prospect was originally identified by Minefinders geologists during reconnaissance mapping and sampling of the Company’s Northern Sonora concessions. Although historic prospecting had occurred in small pits in the area, the deposit was not recognized within any historic literature or maps and had never been drilled. Further exploration on the discovery will be completed in conjunction with exploration activity on the Company’s other gold and silver prospects in the area, including the La Bolsa gold deposit, La Dura Silver prospect and the recently-acquired Planchas de Plata silver district, which, historically, produced high-grade silver.
Due to the success of the initial drill program, Minefinders will proceed as soon as possible to a Phase II drill program on the property. The environmental permitting presently in place is sufficient for substantially more drilling than has been completed to date.
Minefinders is also currently conducting drilling programs on the Dolores deposit in Chihuahua, Mexico and the Clear property in Nevada. In addition, a bankable feasibility study is being completed on the proposed open-pit portion of the Dolores gold and silver deposit.
Drill samples, weighing between 10 kg and 20 kg each, were collected and transported from the Real Viejo site for assay by ALS-Chemex Labs of Vancouver, B.C.. Blanks and standards are inserted into the sample stream for quality control and a split of the core is maintained at the Company’s Hermosillo warehouse for check assay and metallurgical testing. Diamond drilling was being conducted by Layne de Mexico based in Hermosillo. Mark H. Bailey, MSc., P.Geo., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.
MINEFINDERS CORPORATION LTD.
“Mark H. Bailey”
Mark H. Bailey
President and Chief Executive Officer
For further information please visit our website at www.minefinders.com, or contact the Company at
Tel: 1 (866) 687-6263 or Fax: (604) 687-6267.
Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking, including statements relating to the size, and growth in size, of the Company’s mineral resources and the timing of the further exploration and development of the Dolores Project, are subject to various risks and uncertainties concerning the specific factors identified above and in the Company’s periodic filings with the Ontario Securities Commission and the U. S. Securities Exchange Commission. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.
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