Minefinders Corporation Ltd.: Exploration Expands High-Grade Silver Discoveries at Sonora.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Minefinders Corporation Ltd. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :MFL MFL Minimum Flows and Levels (ground water) MFL Modern Foreign Language MFL Magnetic Flux Leakage MFL Medium Flood (stage lighting) MFL Manitoba Federation of Labour )(AMEX AMEX See: American Stock Exchange :MFN MFN abbr. most-favored nation ) reports the discovery and expansion of significant silver mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. with recently-completed drilling at its 100% owned Planchas de Plata and Real Viejo projects, in Sonora, Mexico. Recent drill results include: - at Planchas de Plata, hole PP05-42C which encountered 7.34 metres (24.1 feet) grading 858.2 grams per tonne ("g/t") silver (25.03 ounces per tonne ("opt")) from 3.66 to 11 meters; and a second high-grade zone which extended 28.95 metres (95 feet), assaying 194.4 g/t silver (5.67 opt) from 17 metres to 45.95 metres; and - at Real Viejo, hole RV05-16C which encountered 26.7 metres averaging 71.8 gpt silver (2.09 opt silver over 87.6 feet) at a depth of 14.3 meters (47 feet). Company President, Mark Bailey
Mark Bailey (born 26 November, 1970) is a cricket player in Hamilton, New Zealand. He played one one-day international for the New Zealand cricket team. commented: "Given the extensive distribution of silver mineralization across the Planchas de Plata property, there is high potential to expand the current high-grade mineralization and find additional concealed mineralization. While Real Viejo is less advanced, we believe that it too has considerable promise. We have a substantial exploration program planned for both projects this year." Planchas de Plata Discussion of Results The drill program at Planchas de Plata comprised 58 core holes, totaling 8,686 metres (28,497 feet). It successfully defined several high-grade silver zones (cross-section and plan map are attached or can be viewed on www.minefinders.com). The upper high-grade zone occurs 10 to 50 metres above a second, deeper, high-grade zone discovered by the drill program. These stacked, sub-horizontal, high-grade zones occur within a wide, low-grade envelope hosted by rhyodacite tuffs and overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. conglomerates. The upper zone mineralization is exposed at the surface in conglomeratic rocks and was targeted by early miners (see news release dated January 26, 2004). To the southeast, both zones trend below topography topography (təpŏg`rəfē), description or representation of the features and configuration of land surfaces. Topographic maps use symbols and coloring, with particular attention given to the shape and elevations of terrain. and were previously unexplored. Results from the Company's initial drill program at Planchas de Plata were presented in the Company's news releases dated February 28, and October 12, 2005. This drilling included hole PP05-28C, which intersected the lower mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. horizon from 81.4 to 100 metres of depth. This interval returned grades of 756.6 g/t silver over a width of 7.2 metres (22.09 opt over 24 feet) within a broader intersection of 18.6 metres that averaged 299 g/t silver (8.73 opt over 61 feet). Additional noteworthy intercepts are summarized in the attached table. The new drill program successfully defined the shape and trend of the high-grade zones within the main zone at Planchas de Plata. The high-grade core occurs as a series of flattened flat·ten v. flat·tened, flat·ten·ing, flat·tens v.tr. 1. To make flat or flatter. 2. To knock down; lay low: The boxer was flattened with one punch. , cigar-shaped zones within an area approximately 80 metres wide and more than 300 metres in length. The zones trend N60W and have a gentle plunge to the southeast. Mineralization remains open to the northwest, but may thin as the zones come to the surface. To the southeast, the mineralized trend remains open for further expansion. Rock Analysis Petrographic pe·trog·ra·phy n. The description and classification of rocks. pe·trog  ra·pher n. analysis of alteration, mineralization and
lithologies at Planchas de Plata has recently been completed. This work
has confirmed that most of the mineralization occurs as sulfides which
should be amenable to recovery via flotation flotationor froth flotation Most widely used process for extracting many minerals from their ores. The method separates and concentrates ores by altering their surfaces so that they are either repelled or attracted by water. . Analysis also has revealed a simple silver mineral composition consisting primarily of acanthite (Ag2S) with lesser amounts of electrum electrum Natural or artificial alloy of gold with at least 20% silver, used to make the first known coins in the Western world. Most natural electrum also contains copper, iron, palladium, bismuth, and perhaps other metals. suggesting potential for high recoveries from any ore developed. The completed petrographic work has also identified that a subtle, fine-grained, sericitic to illitic alteration is related to the mineralization. This same alteration has been identified across other portions of the property and will serve to direct future geological, geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. , and geochemical testing, in the course of developing additional drill targets. Ongoing Exploration Exploration at Planchas de Plata is now focusing on the compilation and interpretation of assay and geologic data in an effort to trace extensions of zones and identify additional concealed targets. Samples of mineralized and unmineralized core are being tested by Zonge Engineering and Research in order to determine the amenability of high-grade mineralization to detection by geophysical surveys Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. in order to further direct the 2006 drilling program being planned for this project. With the results of these analyses, the Company will undertake a comprehensive drill program, after the completion of a geophysical survey. Current permitting allows for significant expansion of exploration work and drilling across most of the concession area. Real Viejo Discussion of Results In conjunction with the recent drilling at Planchas de Plata, an additional five core holes were completed at the Company's 100 % owned, Real Viejo silver project, located approximately 10 kilometres from Planchas de Plata. A total of 577.6 metres (1,895 feet) were drilled during the program, which was designed to test areas of the project with limited prior exploration and to expand mineralization encountered in earlier drill holes. Two holes from the new program targeted a portion of the main arroyo covered by alluvial al·lu·vi·al adj. Of, relating to, or found in alluvium: alluvial soil; alluvial gold. alluvial Adjective of or relating to alluvium Noun gravels and the south side of that arroyo. Neither area had been closely examined previously. Notably, hole RV05-16C, drilled into the south side of the arroyo, encountered 26.7 metres averaging 71.8 g/t silver (2.09 opt over 87.6 feet) at a depth of 14.3 metres (47 feet). This mineralization occurs in an area that contains significant quartz stockwork veining vein·ing n. Distribution or arrangement of veins or veinlike markings. at surface but was thought to be only weakly weak·ly adj. weak·li·er, weak·li·est Delicate in constitution; frail or sickly. adv. 1. With little physical strength or force. 2. With little strength of character. anomalous in silver. The zone of mineralization remains open laterally and at depth. The three additional holes were drilled on the north side of the main arroyo to expand previously-encountered mineralization (intercepts summarized in NR 6-9-04 and NR 2-28-05 available at www.minefinders.com). These holes identified the south-dipping extension of the zone and returned values up to 698 g/t silver over 2.15 metres (20.36 opt over 7.1 feet). Ongoing Exploration Drilling this year at Real Viejo will target the area beneath arroyo gravels, and to the south, in the area of RV05-16C. Other drill targets may be identified by a planned geophysical survey. These programs will be completed in conjunction with the Company's programs at Planchas de Plata. Quality Control and Assurance Drill samples, weighing between 5 kg and 10 kg each, were collected and transported from the Planchas de Plata site for assay by ALS-Chemex Labs of Vancouver, B.C. Standards are inserted into the sample stream for quality control and a duplicate sample is maintained at the project site for check assay and metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. testing. Diamond core drilling Diamond core drill bits are used to bore large holes in brick, concrete and stone. They are not generally used in other materials. The bit consists of a metal cylinder, usually relatively soft steel mounted on an arbor. was conducted by Britton International based in Hermosillo, Sonora. All analyses reported are fire assay analyses for gold and multi-acid digestion with AA analyses or fire assay analyses for silver, and completed by either Chemex Labs of Vancouver, Canada, or Inspectorate in·spec·tor·ate n. 1. The office or duties of an inspector. 2. A staff of inspectors. 3. An inspector's district. inspectorate Noun 1. Labs of Sparks, Nevada Sparks is a city in Washoe County, Nevada, United States. The population was 66,346 at the 2000 census. Estimates in 2006 place the population at around 90,000 due to rapid growth in areas such as Spanish Springs, Wingfield Springs, and D'Andrea. . Samples from these intervals were comprised of HQ or NQ core, all representatively split prior to analysis and transported by the labs to sample preparatory facilities in Hermosillo, Mexico (Chemex) or Durango, Mexico (Inspectorate). Drill intersections in this news release are core lengths and may not represent the true width of mineralization. Mark Bailey MSc., P.Geo. is the "qualified person" with overall responsibility for the Company's projects and is responsible for the contents of this news release. About Minefinders Minefinders is a successful mineral exploration company with several projects in Mexico and the United States Relations between the United States and Mexico are among the most important and complex that each nation maintains. They are shaped by a mixture of mutual interests, shared problems, and growing interdependence. . The Company is presently developing the advanced-stage Dolores Dolores (or Delores) was a common given name (until the 1960s in the USA); it is cognate with the English word "dolorous" (meaning sorrowful) and equivalent in meaning. gold and silver project, with production scheduled to commence in 2007. MINEFINDERS CORPORATION LTD. Mark H. Bailey, President and Chief Executive Officer Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995: Statements in this release that are forward-looking, including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the size, and potential growth in size, of the Company's mineral reserves and resources, the economic feasibility of, and commencement of mine construction and mining operations at, the Company's Dolores Project The Dolores Project, located in the Dolores and San Juan River basins in southwestern Colorado, uses water from the Dolores River for irrigation, municipal and industrial use, recreation, fish and wildlife, and production of hydroelectric power. and the timing of the further exploration and development of the Company's mineral projects, 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 The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and the U.S. Securities Exchange Commission ("SEC"). 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.
Table: Final 2005 Drill Results Planchas de Plata
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From To Width Silver
Drill Hole meters meters meters feet g/t opt
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PP05-1 3.1 18.3 15.2 50 114.3 3.33
including 7.6 15.2 7.6 25 191.4 5.58
PP05-28C 81.4 100(i) 18.6 61 299.0 8.73
including 83.4 90.6 7.2 24 756.6 22.09
and 147 149 2 7 124.0 3.62
PP05-31C 6.5 18.4(i) 11.9 39 82.6 2.41
PP05-32C 8 29.57(i) 21.57 71 103.9 3.04
and 47 55(i) 8 26 32.9 0.96
and 80.9 94.5(i) 13.6 45 93.7 2.74
PP05-33C 103 121(i) 18 59 94.0 2.75
and 172.87 192 19.1 63 173.7 5.07
PP05-34C 168 172 4 13 109.1 3.18
PP05-36C 29 33(i) 4 13 80.4 2.35
and 79 100(i) 21 69 240.8 7.03
including 86.8 94.1 7.3 24 534.1 15.59
PP05-41C 7 18(iii) 11 36.1 33.7 0.98
and 40 60 20 65.6 110.4 3.22
including 40 46 6 19.7 196.4 5.73
and 146 150 4 13.1 59 1.72
PP05-42C 3.66 11(i) 7.34 24.1 858.2 25.03
including 3.66 7.6(i) 3.94 12.9 1490 43.46
and 17 45.95(i) 28.95 95.0 194.4 5.67
including 28 43 15 49.2 351.9 10.26
PP05-43C 28.5 29.8 1.3 4.3 365 10.65
PP05-45C 73 75 2 6.6 39.9 1.16
and 156 166.73(ii) 10.33 33.9 35.4 1.03
PP05-46C 47 49 2 6.6 42.5 1.24
and 78 84 6 19.7 25.4 0.74
PP05-47C 27 31 4 13.1 31.8 0.93
and 71.3 79.1 7.8 25.6 195.2 5.69
including 71.3 73 1.7 5.6 732 21.35
PP05-48C 71.5 75 3.5 11.5 41.1 1.20
PP05-49C 73 75 2 6.6 40 1.17
and 94.7 101 6.3 20.7 35.6 1.04
PP05-50C 74 76 2 6.6 35.6 1.04
and 84 86 2 6.6 32.6 0.95
and 167 182(i) 15 49.2 364.1 10.62
including 167 176(i) 9 29.5 504 14.70
PP05-51C 49 53.5 4.5 14.8 42.7 1.25
PP05-52C 133 137 4 13.1 27 0.79
PP05-53C 116 124 8 32.8 30.3 0.88
PP05-54C 3.96 10.5(i) 6.54 21.5 44.8 1.31
and 15.7 24.6 8.9 29.2 505.5 14.74
including 20.4 22.6 2.2 7.2 1540 44.92
PP05-55C 3.96 7(i) 3.04 10.0 31.5 0.92
and 14.4 16.5 2.1 6.9 132 3.85
and 25.1 26.8 1.7 5.6 224 6.53
and 57 62(i) 5 16.4 177.4 5.17
PP05-56C 0 6(i) 6 19.7 51.7 1.51
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Results for hole PP05-1 previously reported February 28, 2005
Results for holes PP05-28C through PP05-36C previously reported
October 12, 2005
(i) Poor recovery over portion of interval
(ii) Interval extends to bottom of drill hole
(iii) Interval includes 1.2 m of mine working
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To view the attached cross-section map, please click on the following link: http://www.ccnmatthews.com/docs/mfl0208a.pdf To view the attached plan map, please click on the following link: http://www.ccnmatthews.com/docs/mfl0208b.pdf Minefinders Corporation Ltd. (TSX:MFL) (AMEX:MFN) |
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