Finlay identifies multiple geophysical anomalies on its Silver Hope Property
Finlay identifies multiple geophysical
anomalies on its Silver Hope Property
VANCOUVER
,
April 23, 2019
/CNW/ -
Finlay Minerals Ltd. (TSXV: FYL)
(the "Company") is
pleased to report the completion of deep-penetrating 3D Induced Polarization (IP), Magnetotelluric
(MT) and soil geochemical surveys at its 100%-owned Silver Hope Property in central
British
Columbia
.
Highlights:
The deep Volterra 3D IP / resistivity and associated MT survey revealed deep targets starting
at 500 metre (m) depths and extending to
+600m
below the MAIN/DEEP HORIZON stock-work
and vein mineralization, immediately SSW of the former Equity Silver Mine's Southern Tail and
Main Zones;
(
CLICK HERE
to see the
movie of the
Deep IP survey results
);
The increased detail of the Volterra survey shows that the IP / resistivity features mimic the
volcanic host rock strata orientations - an insight that will help with geological modelling and drill
testing;
Prominent chargeability and resistivity anomalies were identified from near the Equity Silver
property boundary at the north of the property to south through the West Horizon, Hope,
Superstition and Gaul Zones and specifically coinciding with the West Horizon and the Hope
Zone (Cu-Ag-Au mineralization);
With increasing depth and especially by
400m
, the anomaly trends south-southeast extending to
just east of the Superstition Zone and is over one kilometre long and
300m
to
400m
wide with a
very strong chargeability core in the West Horizon-Hope Zones, and
Only two Finlay drill holes ever penetrated to this depth and both encountered mineralization.
This IP anomaly is also very evident along chargeability sections where it is clearly not drill
tested.
(
CLICK HERE
to see the full results and description of the Deep IP survey on the Company
website).
Since 2010, the Company's drilling of geophysical anomalies 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/Deep Horizons
.
Robert Brown
, President & CEO of Finlay Minerals states:
"
The focus of the 2018 survey was to target the suspected deep source for the known Cu-Ag-Au
occurrences found along a geological trend extending south from the former Equity Silver Mine
deposits. The survey was highly successful in detecting a large, deep, IP zone below known
mineralization. Our intent is to follow-up with deep drilling.
"
2019 Exploration Plans:
The Company plans to conduct work in several areas on the Silver Hope in 2019. These include:
1
.
Further data processing and interpretation has been arranged through the
University of British
Columbia
;
2
.
Geochemical sampling and prospecting on the coincident IP chargeability and copper-in-soil
anomaly east of the Superstition Zone. Contingent on results, a short access trail may be built
to further investigate the anomalies and prepare for possible drilling;
3
.
Conduct prospecting and glacial till sampling to attempt to identify possible source(s) of
mineralized float, and
4
.
Conduct deep drilling as financings permit.
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 are:
the
Silver Hope
Property which includes porphyry copper-molybdenum mineralization
discovered in 2010, along with three silver-copper mineralized zones, in a contiguous trend with
the mined-out open-pitted deposits of the former Equity Silver Mine (over 33.8 Million tonnes
mined at an average grade of 64.9g/t silver, 0.4 % copper and 0.46g/t gold. Ref
:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
The Equity Silver Mine was
British Columbia's
largest producing silver mine and the Silver Hope Property surrounds the
former Equity Silver Mine;
the
ATTY
Property which is contiguous to the north side of the Kemess East deposit and
adjacent to the Kemess Underground deposit of Centerra Gold Inc. and which was recently
optioned to Serengeti Resources (Ref:
Finlay NR 01-18 dated
March 5, 2018
), and
the
PIL
Property, which is adjacent to Sable Resource's Baker Mine, has nine known
mineralized zones including the recently discovered and expanded Pillar East gold-silver
structural system. The Company is focused on the discovery of copper-gold-molybdenum
porphyry systems on the PIL Property.
Qualified Person:
Warner Gruenwald
, 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.
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.
View original content:
http://www.newswire.ca/en/releases/archive/April2019/23/c2029.html
%SEDAR: 00018019E
For further information:
Finlay Minerals Ltd., John Barakso, Chairman of the Board,
CO: Finlay Minerals Ltd.
CNW 10:05e 23-APR-19