Finlay Minerals announces the commencement of drilling on its PIL Property by Cascadia Minerals
Finlay Minerals announces the commencement
of drilling on its PIL Property by Cascadia
Minerals
VANCOUVER, BC
,
July 16, 2024
/CNW/ -
Finlay
Minerals Ltd.
(TSXV: FYL) (OTCQB: FYMNF)
("
Finlay
" or the "
Company
") is pleased to announce that Cascadia Minerals Ltd., the Company's
partner and operator on its PIL Property in the Toodooggone region of
British Columbia
, has
commenced drilling on the PIL.
Robert Brown
, President and Chief Executive Officer of Finlay, states:
"
Finlay is excited that Cascadia has commenced drilling on the compelling PIL South copper-gold
porphyry system, as well as expanding exploration work on the new Spruce porphyry target. We
look forward to the results of this field season's work. Finlay has been involved in porphyry
copper-gold exploration in the Toodoggone for the past 25 years at both its PIL and ATTY
projects.
"
PIL South TITAN IP Chargeability and Proposed Drill Holes * (CNW Group/Finlay Minerals Ltd.)
For further information and details on the PIL Property drilling and exploration program and to
reference the image above (*), refer to Cascadia Mineral's news release dated
July 15, 2024
entitled "Cascadia commences drilling at the PIL Property, Toodoggone Region, BC" available on
Cascadia Mineral's profile on
www.sedarplus.ca
Qualified Person:
Wade Barnes
, P. Geo. and Vice President, Exploration for Finlay and a qualified person as defined
by National Instrument 43-101, has reviewed and 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
:
The
SAY Property
covers 10,587 hectares (ha) within a relatively underexplored corridor of the
Stikine Terrane. The SAY has a 4.3 km high-grade Cu-Ag mineralized trend encompassing the
Spur showing and a Mo-Cu porphyry target at the Spur.
The
Silver Hope Property
covers 21,691 ha 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
.
The
ATTY Property
covers 4,498 ha 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 13,965 ha 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.
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. Forward-looking statements in this news release include the exploration plans on
the PIL Property. All such forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made. 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
results, availability of capital and financing and general economic, market or business conditions,
and the other risk factors described in Finlay's filings with Canadian securities regulators on
SEDAR+ at
www.sedarplus.ca
. 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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For further information:
For further information, contact: Finlay Minerals Ltd., Ilona B. Lindsay,
Vice President, Corporate Relations & Director, Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 16-JUL-24