Finlay Commences Deep-penetrating Ground Geophysical Surveys on its Silver Hope Property
Finlay Commences Deep-penetrating Ground
Geophysical Surveys on its Silver Hope
Property
VANCOUVER
,
Oct. 31, 2018
/CNW/
-
Finlay Minerals Ltd. (TSXV: FYL)
(the "Company") is
pleased to report that deep-penetrating induced polarization (IP) and magnetotellurics (MT)
geophysical surveys have commenced at its 100% owned Silver Hope Property in central
British
Columbia
.
Since 2010, the drilling of geophysical anomalies at the Silver Hope has successfully led to the
discovery of the West Horizon copper-molybdenum (Cu-Mo) porphyry, and to the deep-seated
copper-silver-gold (Cu-Ag-Au) stockwork mineralization along the Main and Main Deep Horizon. The
new IP and MT work can potentially penetrate to 1.5km depth and be used in conjunction with
previous IP, magnetics, gravity, airborne geophysical surveys and core drilling to provide more
comprehensive data re-interpretation. Ultimately, this will allow for target definition and vectors for
future drilling programs.
The current survey will complete coverage of the West, Main/Deep and East Horizons. (Click
HERE
for a map of the IP & MT lines and the Horizons).
Management is targeting deep-seated porphyry intrusions that are believed to be the source for Cu-
Ag-Au occurrences found along a favourable geological trend (Main Trend) that extends south from
the former Equity Silver Mine deposits.
The Company further reports the approval of a multi-year exploration permit for exploration work
until 2024. The Property was also granted tenure protection due to the wildfires and evacuation
orders this summer and early fall.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal
deposits in northern
British Columbia
. The Company's properties include:
the
Silver Hope
which includes porphyry copper-molybdenum mineralization discovered in
2010, along with three silver-copper mineralized zones, in a contiguous trend with the mined-out
deposits of the former Equity Silver Mines (71 million oz. silver, 185 million lbs. copper and
508,000 oz. gold;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
The Silver Hope Property surrounds the former Equity Silver Mine;
the
ATTY
which is contiguous to the north side of the Kemess East deposit and adjacent to the
Kemess Underground deposit of Centerra Gold Inc. and was recently optioned to Serengeti
Resources (Finlay NR 01-18 dated
March 5, 2018
), and
the
PIL
Property which is adjacent to Sable Resource's Baker Mine.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) 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.
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http://www.newswire.ca/en/releases/archive/October2018/31/c4635.html
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For further information:
Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-
3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 31-OCT-18