Finlay Mineral's PIL Property Update
Finlay Mineral's PIL Property Update
VANCOUVER, BC
,
Jan. 20, 2025
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB: FYMNF)
("Finlay" or the "Company")
retains 100% ownership and operatorship of its PIL Property in the
heart of the prolific Toodoggone porphyry copper-gold and epithermal precious metals district of
northern
British Columbia, Canada
.
Finlay, additionally, congratulates AMARC Resources and Freeport-McMoran for the new high-
grade "AuRORA" copper-gold-silver discovery on its Joy Property. The AuRORA discovery holes
are approximately 750 metres ("m") from the PIL Property boundary and approximately 2,500
metres from the PIL South Target. Refer to the map included in this news release.
AuRORA Discovery in relation to Finlay's PIL Property (CNW Group/Finlay Minerals Ltd.)
The PIL South Target was drilled by Cascadia in 2024 with 2 diamond drillholes. Drilling returned
broad intervals of low-grade copper-silver-gold-molybdenum mineralization including hole PILS-24-
006 returning 0.10% copper with 0.05 g/t gold, 7.1 g/t silver, and 0.18% zinc over
162.00 m
from
749.00 m
, in volcanic rocks peripheral to a potential mineralized intrusive porphyry system.
On
December 27, 2024
, Cascadia Minerals Ltd. terminated its option on the PIL Property.
Finlay is reviewing the exploration work and data completed by Cascadia on the PIL with a view to
assessing the logical next steps for a 2025 exploration program. A renewed focus will be on the PIL
South around and along the southern boundary of the PIL Property where the AuRORA Discovery
was made on the adjoining Joy Property.
The PIL Property has numerous porphyry copper and associated epithermal gold-silver-copper vein
systems on the property including the newly discovered Zeus & Ben Zones located in the southwest
portion of the property.
Details of the PIL Property exploration targets can be found in the Company's news release dated
November 12, 2024
entitled: "
Finlay Minerals reports completion of 2024 field work on its PIL
Property by Cascadia Minerals
" and in the PIL Property section of the Company website at
www.finlayminerals.com
. Details of Cascadia Minerals Ltd. 2024 exploration work on the PIL can
be found on Cascadia's SEDAR profile at
www.sedarplus.ca
.
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 four
properties in northern
British Columbia
:
The
ATTY Property
covers 4,498 hectares ("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-venture 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
PIL Property is neighboured by TDG Gold Corporation's Sable/Baker Property, Freeport-
McMoRan - AMARC Resources joint ventured Joy Property, and Skeena Resource's Sofia
Property. The PIL Property is also 25 km northwest of Centerra Gold's former Kemess South
Mine and 15 km east of Thesis Gold's Lawyers Project.
The
Silver Hope Property
covers 21,690 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
SAY Property
covers 15,252 ha and is located 140 km north of
Smithers, B.C.
The SAY
Property is within a 135 km long belt of relatively unexplored Stikine Terrane from American
Eagle Gold's NAK and Amarc Resources/Boliden Minerals Canada's Duke Cu-Mo-Ag-Au
porphyry prospects in the south to the newly discovered porphyry prospect on Quartz
Mountain's Jake Property and the Red Spring sediment hosted Cu-Ag mineralized showing –
both to the north. The SPUR and SHEL zones are the most advanced targets on the property.
The SPUR is a high-grade Cu-Ag structural controlled vein and breccia target extending for 4.3
km with assays up to 15.8% Cu and 993 g/t Ag. The SHEL target area is a Cu-Mo porphyry
identified by historic mapping and drilling.
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 PIL 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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For further information:
For further information, contact: Finlay Minerals Ltd., Ilona Lindsay, Vice
President, Corporate Relations & Director,, Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:00e 20-JAN-25