Finlay Minerals announces 2022 exploration plans on all its projects
VANCOUVER, BC , June 9, 2022 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to announce its exploration plans for all three of its projects: the Silver Hope, the PIL, and the ATTY for the summer of 2022.
- Silver Hope: Finlay will conduct a 2,000 metre (m) drill program with seven to nine drill holes planned for the Equity East, Allin, and Gaul Zones (MAIN Trend), in addition to in-fill Induced Polarization (IP) surveys on the Equity East and Allin Zones.
- PIL: ATAC Resources Ltd. ("ATAC") has an option to purchase 70% of the PIL project. ATAC's 2022 exploration plans will focus on the Copper Ridge target with detailed geological and alteration studies, and IP geophysics to develop drill targets. A drilling permit application was submitted in the spring of 2022 by ATAC and is being processed for the PIL.
- ATTY: Finlay will conduct a mapping and sampling program on its silver (Ag)-lead (Pb)-zinc (Zn)-copper (Cu)-gold (Au) Attycelley target.
Robert F. Brown, President & CEO of Finlay Minerals states:
"The necessary funding by Finlay is in place for the Silver Hope and ATTY exploration programs, and our partner, ATAC, is funding the PIL program. All three programs have high impact exploration potential. At Silver Hope, drilling is targeting both Equity Silver type Cu-Au-Ag and porphyry Cu-Mo type mineralized targets. At PIL, ATAC is focusing on a porphyry Cu-Au-Mo targe; while at ATTY, Finlay is better defining potential porphyry Cu-Au and associated vein Au-Ag targets. Management is looking forward to the commencement of all these work programs."
The planned 2,000m drill program will evaluate some of the high-priority, undrilled targets within the Equity East and Allin Zones. The Equity East and Allin targets are combined geochemical, and geophysical anomalies strongly associated with the Goosly Intrusive Complex (GIC). (CLICK HERE to view the Silver Hope Property with the Equity East and Allin Zones and the Main Trend's Gaul Zone).
The former Equity Silver open-pit and underground mine is located on the western edge of the magnetic high anomaly which is interpreted as the GIS (Goosly Intrusive Suite). The exploration permit is currently being reviewed by the Ministry of Mines & Energy and Low Carbon Innovation and exploration work will begin once the permit is received.
Follow-up drilling in the Gaul Zone along the Main Trend will target down dip of the mineralized zone to twin some 1987 drill holes that were drilled prior to Finlay's ownership and for which the Company is missing assay data. The Company will also test south of SH21-09 which intersected 76.57m (from 80.23m) grading 0.45% Cu, 14.6g/t Ag, and 0.14g/t Au and which continues to be open to the south and down dip.
ATAC's 2022 exploration plans will focus on the Copper Ridge target which hosts a 1,300m x 750m Cu – Au – molybdenum (Mo) surface geochemical anomaly (CLICK HERE to view the Cu in soils PIL map showing the target areas).
The exploration program will focus on detailed geological and alteration studies, in addition to IP geophysics to develop drill targets. Permitting for future drilling has been submitted to the Ministry of Mines & Energy and Low Carbon Innovation. Follow-up mapping and sampling is also planned at the Copper Cliff target which hosts a 25m continuous talus sample that assayed 1.04% Cu. Other targets will be investigated depending on time and budget.
Finlay's 2022 exploration plans will focus on the Attycelley vein Ag-Cu-Pb-Zn-Au target within a 1.2km x 1.3km Cu surface geochemical anomaly. (CLICK HERE to view to ATTY Map with the target areas.)
The exploration program will include geological and alteration mapping and sampling to outline the extent of the Attycelley veins and their relation to the large surrounding soil anomaly, and high chargeability IP anomaly. The Attycelley hosts several high-grade samples with values as high as 240.6g/t Ag, 9.1% Pb, 5.5% Zn, 1.8% Cu and 0.66g/t Au.
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.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.
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 and ATTY 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.
Finlay Minerals Ltd., Robert Brown, President & CEO, Tel: 604-684-3099, [email protected]
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