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Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) today announced updated gold and silver mineral reserves and resources for the Dolores Mine.
Fiscal 2010 marked the first meaningful exploration drilling program at Dolores since the start of mine development in 2006 and this is the first update of reserves and resources for Dolores since 2008.
The new gold and silver reserves are current to December 31, 2010 and are sufficient to sustain open pit production for the next 16 years at current throughput rates. The open pit gold and silver reserves base at the Dolores Mine consists of 2.024 million ounces of gold and 114.52 million ounces of silver, or 4.226 million gold equivalent ounces (“AuEq”).
The new reserves are contained in 107.64 million tonnes of proven and probable ore having an average grade of 0.58 grams per tonne (“gpt”) gold and 33.1 gpt silver and using appropriate dollar value cut-off grades based on assumed metal prices of $1,200 per gold ounce and $23 per silver ounce.
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Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico. For more information, please visit our website at www.minefinders.com.
