Minefinders Achieves Commercial Production at Its Dolores Mineadmin
Minefinders Corporation Ltd. a precious metals mining and exploration company announced that it has achieved commercial production effective May 1, 2009 at its 100% owned Dolores gold and silver mine in the state of Chihuahua, Mexico. The advance to commercial production status is based on the operational and financial performance of the mine to date.
Production of gold and silver at the Dolores Mine has continued to increase with gold production in April 2009 of 7,218 ounces, up from 6,426 ounces in March 2009. Silver production totaled 139,565 ounces in April 2009, up from 121,091 ounces in March 2009. Gold and silver production is expected to escalate to steady state levels later in the year as the volume of ore under leach and time under leach continues to increase.
“This is a proud day for Minefinders. After more than 14 years of exploration and development, Dolores is now a long term, low cost gold and silver mine,” said Mark Bailey, President and Chief Executive Officer. “We will focus on maximizing the potential at Dolores by optimizing operational efficiencies while continuing to pursue growth opportunities for the Company.”
The Dolores Mine is expected to produce over 1.7 million ounces of gold and 64 million ounces of silver over the initial 15-year mine life.