Positive Pre-Feasibility Results At Lindero

 

VANCOUVER, BC - Mansfield Minerals Inc. reported the results from a National Instrument 43-101 compliant pre-feasibility study for its 100% owned Lindero gold project in Salta Province, Argentina. The Study was completed by AMEC Americas Limited in association with American Au Ag Associates and Kappes Cassidy & Associates. The Study contemplates conventional open pit mining operation and heap leach gold recovery. Over the initial three years of production 31.9 million tonnes of ore will be mined at an average grade of 0.81 grams/tonne containing 830,000 oz of gold. Leach kinetics provide for the recovery of 499,700 oz/gold in years 1-3 with the remaining 83,800 oz recovered as leaching proceeds based on a 70.31% recovery. Heap leaching over the first five years will produce an average of 161,000 ounces of gold at a cash cost of US$373 per ounce.

"I am very pleased that the pre-feasibility study has demonstrated such robust project economics. We believe the project has extremely attractive characteristics, including projected gold production of 161,000 ounces annually at cash costs of US$373 per ounce during the first five years of operation.

The mine plan in the pre-feasibility study is based on measured and indicated gold resources of 2.2 million ounces of gold at a 0.20 g/t cut-off. In parallel with project development, we are currently considering further drilling with the objective of converting a portion of the additional 750,000 ounces of gold in the inferred resource category to the measured and indicated category at a 0.20 g/t gold cut-off.

We are now focused on advancing permitting at the project and have engaged Vector Argentina S.A. to further advance the mine permitting process. As a conventional open pit heap leach project with good accessibility and project logistics, we believe the project could be in production in less than 24 months following receipt of necessary permits and obtaining sufficient financing.

The companys address is Suite 922, 510 West Hastings Street, Vancouver, BC V6B 1L8, (604) 681-4462, fax: (604) 681-0180, email: [email protected].