VANCOUVER, BC, Oct. 3, 2024
/CNW/ - Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF)
("Finlay" or the "Company") is pleased to announce
the completion of its inaugural field exploration program on the
high-grade copper ("Cu") and silver ("Ag") SAY property in northern
British Columbia which included prospecting and mapping along
the SPUR and SHEL target areas.
Work focused on the mineralization along the Spur Trend where
high-grade Cu and Ag samples have previously been identified.
In total, 33 chip samples and 6 outcrop samples were collected
within the SPUR target area. At the SHEL a total of 7 rock samples
were collected. All samples are currently at the lab and results
will be released after review and passing QA/QC procedures.
The SPUR and SHEL zones are the most advanced targets on the SAY
property:
- The SPUR is a high-grade Cu-Ag volcanic/structural target
extending for 4.3 km with assays up to 15.8% Cu and 993 g/t
Ag. The Cu - Ag values are associated with possible volcanic
red-beds being crosscut by intrusions and structures along a
regional NNW trending magnetic trend. To date, 78 of 129 rock
samples collected yielded >1% Cu and 59 yielded >100 g/t Ag
along the Spur Trend.
- The SHEL target area is a Cu-Mo porphyry identified by historic
mapping and drilling hosting a 2 km x 3 km arcuate magnetic high
anomaly centered by a moderate magnetic low. A target to the west
also displays a magnetic anomaly appearing to be the magnetic
expression of several narrow arcuate magnetic units coalescing into
a single feature.
The SAY Property, covering 15,252 hectares and located 140 km
north of Smithers, B.C., is within
a 135 km-long belt of relatively unexplored Stikine Terrane from
American Eagle Gold's NAK and Amarc Resources/Boliden Minerals
Canada's Duke Cu-Mo-Ag-Au porphyry prospects in the south to the
Red Spring sediment hosted Cu-Ag mineralized showing in the
north.
Qualified Person:
Wade Barnes, P. Geo. and Vice
President, Exploration for Finlay Minerals and a qualified person
as defined by National Instrument 43-101, has approved the
technical content of this news release.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and
precious metal deposits with four properties in northern British
Columbia. In addition to the SAY, the Company has two
Toodoggone Properties and the Silver Hope Property surrounding the
past-producing Equity Silver Mine:
- The ATTY Property covers 4,498 hectares of
sub-alpine terrain in the southern Toodoggone region. The
Toodoggone is a northwest-trending belt of Triassic to Jurassic arc
terranes that hosts numerous significant porphyry Cu-Au ± Ag and
associated epithermal Au-Ag deposits. The ATTY Property is in
between and contiguous to Centerra Gold's Kemess Property and the
joint-venture Joy Property held by Amarc and Freeport-McMoRan. The
ATTY's KEM target has similarities to the Kemess North Trend, which
hosts the Kemess Underground and Kemess East deposits.
- The PIL Property, which covers 13,965
hectares in the heart of the Toodoggone region, has numerous
porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag
mineralization. The property is in Year 3 of a 5-year option to
Cascadia Minerals Ltd., on completion of which Cascadia would
acquire a 70% interest in the PIL. Following the exercise of
the option, Cascadia and Finlay would hold interests in the
Property of 70% and 30%, respectively, and a joint venture would be
formed.
- The Silver Hope Property covers 21,690 hectares
and surrounds the past-producing Equity Silver Mine in the
prospective Skeena Arch region of central B.C. The Silver Hope
contains the Main Trend which is a >2 km Cu-Ag-Au mineralized
trend with mineralization starting at surface. West of the
Main Trend is the West Cu-Mo Porphyry which is also mineralized
starting from surface. The Property hosts a network of forestry
roads and trails and has all-year access from Houston, BC.
Finlay trades under the symbol "FYL" on the TSXV and under the
symbol "FYMNF" on the OTCQB. For further information and details,
please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.
President, CEO & Director
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information: This news
release includes certain "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable Canadian securities
legislation. All statements in this news release that address
events or developments that we expect to occur in the future are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally,
although not always, identified by words such as "expect", "plan",
"anticipate", "project", "target", "potential", "schedule",
"forecast", "budget", "estimate", "intend" or "believe" and similar
expressions or their negative connotations, or that events or
conditions "will", "would", "may", "could", "should" or "might"
occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made. Forward-looking statements in this news release include
statements regarding, among others, the exploration plans for the
SAY Property. Although Finlay believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration
successes, continued availability of capital and financing and
general economic, market or business conditions. These
forward-looking statements are based on a number of assumptions,
including, among other things, assumptions regarding general
business and financial conditions, the timing and receipt of
regulatory and governmental approvals, the ability of Finlay and
other parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for
Finlay's proposed transactions and programs on reasonable terms,
and the ability of third-party service providers to deliver
services in a timely manner. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Finlay does not assume any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future or otherwise, except
as required by applicable law.
SOURCE Finlay Minerals Ltd.