2010 Exploration Program Advances at Minefinders’ La Virginia Project, Sonora State, Mexico

April 29, 2010 Filed Under: Precious Metal  

Minefinders Corporation Ltd. report that drilling has begun on its 100% owned La Virginia Project following receipt of exploration permits and completion of road and drill pad construction. The La Virginia Project has never been drilled and contains six untested target areas located within an area 20 kilometres in length and 12 kilometres in width.

The Company anticipates drilling an initial 6,000 metres of core as contracted to Intercore Perforaciones, S. de R.L. de C.V., of Guadalajara, Mexico. The seven kilometre strike length of the La Virginia structural zone is typified by a series of northwest trending high-angle structures containing multiple zones of quartz and quartz-calcite veining and stock works. Favorable sampling results as well as recognition of a geologic setting very similar to that of the Company’s Dolores mine located 100 kilometres to the southeast, led to prioritization of this district. The initial drilling will focus on testing the high-grade gold and silver mineralization identified within workings of the central La Virginia area.

In total the Company has staked mineral rights covering more than 32,000 hectares of land and has consolidated an additional 2,100 hectares through lease. More than 2,500 hectares of surface rights that allow for initial drilling on the La Virginia zone have also been leased. Six separate prospective mineralized areas (La Virginia, La Colonia, El Rubi, Los Caballos, Agua Mala and El Pinito) were identified within the overall land package.

Drilling planned for 2010 will also investigate overall potentials at depth and along strike within the main La Virginia structural zone as exploration and additional target delineation work is accomplished throughout the Company’s land holdings in the area. A more detailed description of the district geology and sampling results can be found in Minefinders news release dated December 15, 2009 which is available at www.minefinders.com.