Minefinders Reports La Bolsa Project Economics and Reserves
Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) reported the results of an independently prepared pre-feasibility study for its La Bolsa gold and silver project in Sonora, Mexico.
Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) reported the results of an independently prepared pre-feasibility study for its La Bolsa gold and silver project in Sonora, Mexico.
The press release is quoted as saying:
The study contemplates conventional open-pit mining methods at La Bolsa with low-cost heap-leach processing. Throughput is projected at 8,500 tonnes of ore per day with two-stage crushing and gold and silver recovery achieved through a carbon absorption recovery system. The minable reserve, using prices of $825 per ounce of gold and $14 per ounce of silver contains 316,135 ounces of gold and 4.5 million ounces of silver. Assuming average recoveries of 72% for gold and 7% for silver, the total production from La Bolsa is estimated at 227,600 ounces of gold and 315,100 ounces of silver over a six year mine life. The life of mine reserve strip ratio is estimated at 1.9 to 1 waste to ore and the operating strip ratio is estimated at 1.5 to 1 waste to ore, net of capitalized pre-stripping.