Finlay Minerals reports on its successful 2023 Silver Hope Property Field Program
Finlay Minerals reports on its successful 2023
Silver Hope Property Field Program
VANCOUVER, BC
,
Oct. 12, 2023
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB:
FYMNF) ("
Finlay
" or the "
Company
") is pleased to report that the 2023 field work program of
biogeochemical sampling and soil mercury vapour analysis has been successful in confirming the
presence of known mineralization and outlining further potential drill targets.
The Silver Hope Property has extensive till cover over most of the property with multiple-direction
glacial movements which smear and complicate interpretation of conventional soil sampling
anomalous results. The lack of outcrop, in addition to the highly variable thickness of the till cover,
also adds to the difficulty of typical surface exploration techniques. The premise for completing the
2023 work was that biogeochemical sampling and soil mercury (Hg) vapour surveys look deeper into
the till cover and possibly down to bedrock, leading to better definition of mineralized trends.
An orientation survey with both biogeochemical sampling and soil Hg vapour surveys was completed
over the Main Trend (Hope, Superstition and Gaul Zones) and the West Copper-Molybdenum (Cu-
Mo) Porphyry. Both methods proved successful in identifying the known-mineralized Main Trend and
the West Cu-Mo Porphyry. The Main Trend biogeochemical results displayed a multi-element
anomaly of copper, silver and gold. The West Cu-Mo Porphyry results showed a strong copper
anomaly. The soil Hg vapour results showed spikes over the Main Trend and was depleted over the
West Cu-Mo Porphyry.
Click
HERE
to view the entire property
Silver (Ag) and Copper (Cu) biogeochemistry results and
anomalies
identified in the 2023 field program.
Click
HERE
to view the
Ag and Cu higher resolution biochemistry results for the Main & East
Trend and the West Cu-Mo Porphyry area
.
Click
HERE
to view the
Soil Hg vapour analysis
from the 2023 field program.
Initial wide-spaced sampling lines of biogeochemical sampling and soil Hg vapour analysis were also
completed over the East Trend, Equity East, Allin, and Sam Zones. The most detailed work was
completed over the East Trend and the biogeochemical sampling results showed a similar multi-
elemental anomaly as the Main Trend. This multi-element anomaly is coincident with an induced
polarization (IP) geophysical chargeability-resistivity anomaly. The East Trend is a north-south
oriented feature, noted for 1.5 kilometers, sub-parallel and to the east of the Main Trend. Results
over the Equity East, Allin, and Sam Zones were restricted to single survey lines. In all cases
anomalous results were obtained, necessitating further survey work to better outline the targets.
The biogeochemical sampling and gaseous elemental Hg analysis consisted of sampling 14 transect
lines. The soil Hg survey used a RA-915M Hg analyzer. A total of 533 biogeochemical samples
and 601 Hg vapour readings were collected.
Conclusion & Next Steps:
The trialing of biogeochemistry over known areas of mineralization with till cover on the Silver
Hope was successful.
Limited biogeochemical sampling of other exploration areas on the property also identified new
targets that correlate well with geophysical anomalies.
The East Trend biogeochemical sampling results have better delineated a similar multi-
elemental anomaly as the Main Trend.
The Hg vapour gas survey successfully identified known areas of mineralization, however, is a
newly identified exploration technique and further work with it should be conducted on the
property with some modifications to the equipment to permit usage in less favourable weather
conditions.
Biogeochemistry sampling should be expanded on the property in an in-fill pattern and also over
both newly identified and previously known exploration targets.
Methodology:
The biogeochemistry samples were of spruce twigs as this has shown to be a good material for
silver and copper analysis, and has good coverage across the Silver Hope Property. Sampling was
conducted over 1-5 trees in an area collecting twigs of similar size and age from around the outside
of the tree. Twig sampling was conducted using a pole snip or secateur where the last 15 cm of the
twigs were cut off. Samples were collected around the full circumference of a tree to avoid collecting
all the twigs from one branch. A minimum of 200 g of material was collected in a medium Hubco
bag.
The soil Hg vapour data collection required the use of a Lumex RA-915M - a unique, high
sensitivity analytical instrument for measuring mercury (Hg) in the field. The surface material was
scrapped away and disturbed using a pick, then 3 pick holes punctured the till. The probe was
placed within a bucket and placed over the sample site. The bucket ensures no external factors such
as wind affects the results. The Hg analyzer takes readings measuring nanograms (ng) every
second; readings were taken over a 60 second period with a mean, maximum and minimum value
recorded. The Hg analyzer is calibrated at the beginning of each day of field use with the date, time
and a 20-minute warm up period.
QA and QC:
All biogeochemical assay results have been monitored through a quality assurance / quality control
(QA/QC) program.
The biogeochemical samples were collected and roughly 200 grams were placed in Hubco sample
bags. The sample bags were assigned a sample identification number and sample tag which were
entered into the sampling database. Samples were shipped in sealed and secured bags to ALS
Global Laboratory in
North Vancouver, BC
. The biogeochemical samples were prepared using the
VEG-MILL01 protocol which mills 100g of dry plant material using a Retsch Mill to 100% passing
1mm producing a homogeneous and representative pulp that could be sub-sampled for analysis.
Samples were then analyzed using the ME-VEG41 protocol with aqua regia digestion for 53 element
analysis.
In addition to the ALS Global Laboratory QA/QC protocols, Finlay implemented an internal QA/QC
program that included the insertion of 43 QA/QC samples into the biogeochemical sample stream.
The QA/QC included standards, field duplicates and experimental duplicates.
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 Tooddogone region has numerous
targets of porphyry Cu-Au ± Ag and associated epithermal Au-Ag mineralization. The property is
in Year 2 of a 5-year option to Cascadia Minerals Ltd. (formerly ATAC Resources Ltd.), on
completion of which Cascadia will acquire a 70% interest in the PIL. Following the exercise of
the option, Cascadia and Finlay will hold interests in the Property of 70% and 30%,
respectively, and a joint venture will 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. 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/October2023/12/c3125.html
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For further information:
Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations,
Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:00e 12-OCT-23