Gold News

Minefinders Corporation updates on Mexico gold mine

Minefinders Corporation has revealed that it is "progressing steadily" with its Dolores 18,000 tonnes per day open-pit gold and silver mine in Chihuahua, Mexico.

Completion of construction is said to be on track and the company expects to move to owner-operated production before the end of the year.

Mark Bailey, company president, said: "The transition to production at Dolores is one of the most significant developments in our corporate history and we have been as careful and thorough in the construction phase as we were in the exploration phase. In building any new mine of size, it is not possible to predict what unexpected issues will arise, only that some will arise.

"I am pleased to report that we believe that we have successfully identified and addressed all such issues at Dolores and that we remain on track to commence mining in September and to achieve commercial production early in the second quarter of 2008."

Already, most of the mining and processing equipment is on site or in lay-down yards, with drills, dozers, graders, loaders and several haulage trucks now handed over to the operations team.

Minefinders has also completed an independent audit and NI 43-101 report on updated Measured and Indicated resources, resulting in increases of 21.1 per cent for gold and 21.3 per cent for silver in comparison to the resources used in the Dolores feasibility study.

The company is listed as MFL on the Toronto Stock Exchange and MFN on the American Stock Exchange.

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