Finlay Minerals outlines seven priority targets for the Silver Hope Property
Finlay Minerals outlines seven priority targets
for the Silver Hope Property
VANCOUVER, BC
,
May 14, 2024
/CNW/ -
Finlay Minerals
(TSXV: FYL) (OTCQB: FYMNF)
("Finlay"
or the
"Company")
has conducted a comprehensive review of its Silver Hope Property
near
Houston, BC
. This comprehensive review, which included the analysis of 179 drill holes,
previous surveys, and the 2023 ALS GoldSpot Prospectivity Report, has led to the identification of
seven robust priority targets.
Priority Targets:
The possible extensions of the
Main Trend
and
West Cu-Mo Porphyry
mineralized zones to
the southwest.
Identification of the
East Trend 1
and
East Trend 2
targets, which have similar geochemical
and geophysical signatures as the Main Trend.
The
Zest
target now includes the former Equity Silver Mine and extends on to the Silver Hope
Property.
The
Equity East
target has surface geochemical and geophysical characteristics similar to the
Zest showing and target.
The
Dina East
target has overlapping polymetallic vein and porphyry targets generated by ALS
Goldspot and has had little to no exploration work.
Finlay Minerals outlines seven priority targets for the Silver Hope Property (CNW Group/Finlay
Minerals Ltd.)
Robert F. Brown
, President & CEO of Finlay Minerals, states:
"
Subject to financing, the company is planning to drill on the East Trend 1 and the copper-silver
Main Trend. The East Trend 1 target has the potential to reveal shallow Main Trend mineralization.
Additionally, drilling along the Main Trend will bridge gaps in past drilling, connecting
mineralization along its 2.5 km length, further enhancing this significant target.
The Main Trend contains copper-silver mineralization that is located within fractures and breccias
along a NNE trending structural corridor, which could be linked to a deep copper porphyry source.
The Main Trend hosts a multi-geochemical soil anomaly with Ag, As, Au, Cd, Cu, Mo, Pb, Sb, Te,
Zn, and W. Biogeochemical sampling in 2023 pinpointed a smaller target area within the Main
Trend with elevated Ag, As, Au, Cu, Pb, Sb, and Zn; the mineralization is within a tuffaceous
horizon of the Skeena Group.
The Main Trend is considered a bulk tonnage target as it hosts a significant portion of the
Company's historical drilling, totaling 41,041 meters. Past drilling has resulted in notable
intersections such as
SH21-08
, which had
133.0 meters of 0.30% Cu, 7.6 g/t Ag, and 0.03 g/t Au
(Gaul Zone)
,
SH11-12
with
111.5 meters of 0.16% Cu, 23.1 g/t Ag, and 0.29 g/t Au
(Superstition Zone)
, and
SH11-07
, which had
282.0 meters of 0.23% Cu, 6.4 g/t Ag, and 0.01
g/t Au (
Hope Zone
)
.
"
In the East Trend, both East Trend 1 ("
ET1
") and East Trend 2 ("
ET2
") have biogeochemical and
soil Hg anomalies similar to those found in the Main Trend. The ET1 target is directly east of the
Main Trend and could represent the faulted-off portion of the Main Trend and the Gaul and
Superstition Zones. ET1 was identified as a target based on ALS GoldSpot targeting, high
chargeability, low resistivity, and past drilling.
The
ET2
target is roughly 1,000-
1,500m
east of the Main Trend and occurs along a NNE trend
similar to the Main Trend and ET1.
The
Zest
Target is an important prospect due to previous drilling intersecting comparable
mineralization styles of copper, silver, and gold, along with Skeena Group lithology, like that of the
former Equity Silver Mine.
The
Equity East
target is north of the Zest target. ALS GoldSpot has identified this zone as having
the potential for hosting Equity-style mineralization, high chargeability, and moderate resistivity.
The
Dina East
target is untested and has seen little to no exploration activity due to its previous
heavily forested nature. Recent logging activity has opened the area, providing easier access with
logging roads. ALS GoldSpot identified overlapping polymetallic and porphyry targets along a NNE
trending structure similar to the Main Trend.
For further information,
CLICK HERE
to view the
Silver Hope Technical Presentation
.
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 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 & 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 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, 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.
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For further information:
Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations &
Director, Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 14-MAY-24