Finlay's Field Programs Commenced At Silver Hope & PIL Properties
Finlay's Field Programs Commenced At Silver
Hope & PIL Properties
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER
,
BC,
July 30, 2020
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) ("
Finlay
" or the
"
Company
") is pleased to report that exploration work has commenced on its Silver Hope and PIL
Properties.
At the Silver Hope Property near
Houston, BC
, a property-wide, high resolution airborne magnetic
survey has been completed. This was followed up by a program of till, soil/stream and rock
sampling. Compilation of the magnetic survey and the Company's previous geochemical, IP, and
airborne ZTEM surveys will drive the search for mineralized zones like the NNE trending Main Zone
host to the past-producing (Cu-Ag-Au) Equity Silver Mine (Newmont Corporation).
The Company plans step out drill testing of high-grade intersections along the Main Zone, such as
the Gaul Zone where drill hole SH14-02 returned
10m
@ 319g/t silver, 0.88% copper, and 0.2g/t
gold starting at
89m
deep.
(Reference - FYL NR01-15: Finlay continues to expand the Copper-
Silver-Gold mineralization at the Silver Hope with a
10.25m
intercept of 4.32% Copper Equivalent
dated
February 26, 2015
.)
Since 2007 the Company's drilling has identified Main Zone Cu-Ag-Au mineralization along a strike
length of 1.7km extending from the Equity Mine boundary south to the Gaul Zone. In 2010/11 drilling
of IP targets adjacent to the Main Zone resulted in the discovery of a Cu-Mo-Ag porphyry that has
been traced for nearly one kilometer and up to 600 metres deep. Recent deep IP surveys have
identified numerous drill targets that have yet to be tested.
The PIL Property is situated in the Toodoggone mining district that hosts Cu-Au-Ag porphyries (i.e.
Centerra Gold's Kemess deposits) and epithermal Au-Ag vein deposits such as the former Baker
and Lawyers mines.
A property-wide, high resolution airborne magnetic survey will commence in late July on the PIL. This
along with detailed geological, alteration, and structural mapping, and soil and rock geochemistry will
better assess the known porphyry Cu-Mo occurrences (NW and PIL South Zones) and identify any
additional targets. Compilation of this work will also aid in better understanding of the epithermal Au-
Ag mineralization at the Atlas East and Pillar East Zones and extensive gossan zones that are
thought to be vectors into deep-seated Cu-Au porphyry systems.
Advances in geophysical technology along with deep drilling has resulted in the discovery of several
major porphyry deposits in BC. The Silver Hope and PIL properties are considered prime targets for
these advanced exploration approaches.
The Company has implemented precautions and protocols regarding COVID-19 following the
Province of
British Columbia's
guidelines for field programs.
A total of
$600,000
has been budgeted for the Silver Hope and PIL Properties 2020 field programs.
Details and results of the field work will be reported on in subsequent news releases.
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 deposits of the former Equity Silver Mine (71 million oz. silver, 185 million lbs.
copper and 508,000 oz. gold;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
The Silver Hope Property
surrounds the former Equity Silver Mine;
the
ATTY
Property which is contiguous to the north side of the Kemess East and adjacent to
the Kemess Underground deposits of Centerra Gold Inc., 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 &
PIL Properties. 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/July2020/30/c5400.html
%SEDAR: 00018019E
For further information:
For further information, contact: Finlay Minerals Ltd., Robert Brown,
President & CEO, Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 30-JUL-20