VANCOUVER, BC, Oct. 3, 2024 /CNW/ - Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the completion of its inaugural field exploration program on the high-grade copper ("Cu") and silver ("Ag") SAY property in northern British Columbia which included prospecting and mapping along the SPUR and SHEL target areas.
Work focused on the mineralization along the Spur Trend where high-grade Cu and Ag samples have previously been identified. In total, 33 chip samples and 6 outcrop samples were collected within the SPUR target area. At the SHEL a total of 7 rock samples were collected. All samples are currently at the lab and results will be released after review and passing QA/QC procedures.
The SPUR and SHEL zones are the most advanced targets on the SAY property:
- The SPUR is a high-grade Cu-Ag volcanic/structural target extending for 4.3 km with assays up to 15.8% Cu and 993 g/t Ag. The Cu - Ag values are associated with possible volcanic red-beds being crosscut by intrusions and structures along a regional NNW trending magnetic trend. To date, 78 of 129 rock samples collected yielded >1% Cu and 59 yielded >100 g/t Ag along the Spur Trend.
- The SHEL target area is a Cu-Mo porphyry identified by historic mapping and drilling hosting a 2 km x 3 km arcuate magnetic high anomaly centered by a moderate magnetic low. A target to the west also displays a magnetic anomaly appearing to be the magnetic expression of several narrow arcuate magnetic units coalescing into a single feature.
The SAY Property, covering 15,252 hectares and located 140 km north of Smithers, B.C., 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 Red Spring sediment hosted Cu-Ag mineralized showing in the north.
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. In addition to the SAY, the Company has two Toodoggone Properties and the Silver Hope Property surrounding the past-producing Equity Silver Mine:
- The ATTY Property covers 4,498 hectares 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 hectares 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.
- The Silver Hope Property covers 21,690 hectares 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.
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 SAY 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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