ALS GoldSpot identifies Multiple High Priority Targets on Finlay's Silver Hope Property
ALS GoldSpot identifies Multiple High Priority
Targets on Finlay's Silver Hope Property
VANCOUVER, BC
,
Oct. 23, 2023
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB:
FYMNF) ("
Finlay
" or the "
Company
") is pleased to report that ALS GoldSpot has outlined 16 high
priority targets from a total of 113 targets on its 100% owned Silver Hope Property ("the Property")
within the Skeena Arch area of central
British Columbia
. These high priority targets include the Main
Trend, the West (Cu-Mo ) Porphyry, and the recently announced East Trend (see Finlay News
Release 14-23 "
Finlay Minerals
reports on its successful 2023 Silver Hope Property Field
Program
"
dated October
12, 2023).
Click
HERE
to view the
Silver Hope Property Map with the ALS GoldSpot targets
.
A prospectivity report created by ALS GoldSpot categorized the 113 targets based on mineralization
styles on the Property which include: Polymetallic (Main Trend) mineralization, Equity-style
mineralization, Porphyry mineralization, and Special (Sam Zone) mineralization in addition to
geophysical targets. Through the work of ALS GoldSpot and Finlay, four "Priority Target Areas"
have been delineated on the Property.
Click
HERE
to view the
Four Priority Area maps holding the top-ranked prospectivity targets
.
Priority Target Areas:
#1
Includes the Main Trend and West Porphyry. ALS GoldSpot further identified the potential
for the extension of the West Porphyry to the south in addition to the East Trend with the potential
for more polymetallic mineralization similar to the Main Trend.
#2
Includes two high priority targets for Equity-style mineralization: Target 1 extends south
from the former Equity Silver Mine and includes the Zest showing where past drilling has intersected
similar lithology, alteration and mineralization as the Main Trend and the Equity Silver Mine, however,
in thinner zones. Target 2 exists west of Target 1 with a similar orientation. The potential for similar
mineralization styles exists at Target 2 based on the 2022 drilling where drill holes SH22-05 and 06
intersected narrow veins of galena, chalcopyrite, and sphalerite. These drill holes were collared
300m
east of Target 2 and the mineralized veins are similar to other drill holes peripheral to the
former Equity Silver Mine and the Main Trend.
#3
Includes several targets of interest with Target 3, which hosts overlapping porphyry and
polymetallic signatures, being the most compelling. These targets are near the Dina Showing where
past drilling intersected similar lithology and alteration as the Main Trend and the former Equity Silver
Mine. Drill holes at the Dina intersected minor silver and copper mineralization. Target 3 occurs
along a northeast trending structure similar to that of the Main Trend and former Equity Silver Mine.
This area has received little-to-no exploration due to being heavily forested in the past; recent
logging has opened up the area improving access.
#4
Occurs east of the Sam Zone on the west side of the Property and could host a potential
porphyry and possible extension of the Sam Zone. Drilling and mapping around the Sam Zone have
noted sericite, carbonate, chlorite and quartz alteration which could represent distal porphyry
alteration.
Conclusion & Next Steps:
ALS GoldSpot has identified several high priority targets that complement the known
mineralized zones at the Main Trend and West Porphyry;
Additionally, ALS GoldSpot's work has identified completely new targets in the Equity East,
Zest, Sam and Dina areas of the Property which have seen little or no exploration work in the
past;
With the recent results from the biogeochemical sampling, future biogeochemical sampling will
be planned over these high priority target areas along with prospecting.
Induced Polarization geophysical surveys will then follow-up any biogeochemical targets that
parallel the ALS GoldSpot targets aiding in defining future drilling targets.
For further details on the Silver Hope Property and the 2023 biogeochemistry and ALS GoldSpot
work, refer to our updated
Silver Hope Technical Presentation
.
ALS GoldSpot:
ALS GoldSpot conducted a review, familiarization and tidying of all the Silver Hope geochemical,
geophysical and geological lithology data in preparation for machine learning processing in addition
to traditional structural, lithogeochemical and geological modelling interpretations to create a ranked
series of prospectivity targets.
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 three
properties in northern
British Columbia
:
The
Silver Hope Property
covers 213.11
km
2
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 >2km 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
.
The
ATTY Property
covers 33.93
km
2
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-
ventured 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 170
km
2
in the heart of the Tooddogone region has numerous
targets of porphyry Cu-Au ± Ag and associated epithermal Au-Ag mineralization. The property is
in Year 2 of a 5-year option to Cascadia Minerals Ltd. (formerly ATAC Resources Ltd.), on
completion of which Cascadia will acquire a 70% interest in the PIL. Following the exercise of
the option, Cascadia and Finlay will hold interests in the Property of 70% and 30%,
respectively, and a joint venture will be formed.
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
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 Silver Hope
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, and 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 economic 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.
View original content:
http://www.newswire.ca/en/releases/archive/October2023/23/c0587.html
%SEDAR: 00018019E
For further information:
Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations,,
Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:00e 23-OCT-23