Finlay Minerals Ltd. - 700 meter long Atlas East zone yields 2 meter intersection of 7.24g/t gold and 141.1g/t silver



    VANCOUVER, March 3 /CNW/ - The Board of Directors of Finlay Minerals Ltd.
("The Company") is pleased to announce the results of core drilling from the
700 meter long Atlas East gold-silver zone, as well as preliminary evaluation
of the Pillar East gold-silver occurrence 1,000 meters east of the Atlas East
zone, on the Pil North property, Toodoggone Mining Camp, B.C.

    Highlight results from Atlas East core drill program include,

    
    AE07-03

                         Drilled
      From        To       width
    (meters)  (meters)   (meters)   Au (g/t)   Ag (g/t)

    149.15     151.15          2      1.290       28.4
    151.15     153.15          2      5.220       31.2
    153.15     155.15          2      0.051        3.1
    155.15     157.15          2      2.870         57
    157.15     159.15          2      7.240      141.1
    composite
    149.15     159.15         10       3.33       52.1
    

    The Atlas East zone has been traced in drilling for ~700 meters along
strike from AE07-07 in the west to the AE07-04/06 drill-hole pair in the east.
Further east the favourable volcanic unit containing gold-silver
mineralization is buried beneath younger volcanic rocks. Management believes
that the Pillar East zone, 1,000 meters to the east is the eastward
continuation of the same mineralized zone as the Atlas East zone.
    At the Pillar East zone soil samples returned up to 6,748ppb gold
(6.75g/t gold), while visible gold was panned out of the headwaters of several
streams with pan concentrate grades of up to 4,280ppb gold (4.28g/t gold).
Considerable more exploration is needed at Pillar East including trenching and
drilling in a largely scree covered mountain bowl (see map on web-site).
    Mineralization at the Atlas East zone is associated with weakly pyritic,
sericitic, silicified, and quartz stock-work andesite porphyry containing
trace amounts of sphalerite and galena. The gross overall orientation of the
mineralized zone, considering the 2007 work, is presently best estimated at an
east-northeast trend with a moderate south dip. Drill-hole AE07-03 was drilled
perpendicular to this trend (350 degree azimuth with a -45 degree north dip)
so that true widths are likely ~80-90% of drilled widths.
    Drill-hole AE07-03 was drilled ~240m ENE of the Atlas East zone discovery
hole A06-05 (see news release of November 2, 2006).

    
    ----------------------------------------------------
    A06-05

    ----------------------------------------------------
                         Drilled
       From        To      width
    (meters)  (meters)   (meters)   Au (g/t)   Ag (g/t)
    ----------------------------------------------------
    124.05     125.10       1.05      11.27      144.4
    ----------------------------------------------------
    131.5      132.45       1.10       2.25        8.4
    ----------------------------------------------------
    140.0       142.0        2.0       4.65       56.0
    ----------------------------------------------------
    composite
    ----------------------------------------------------
    124.05     132.45        8.4        1.9       25.6
    ----------------------------------------------------
    

    True widths are likely ~80% of drilled widths. A 2007 core hole was not
drilled below the A06-05 site due to constraints of a large drill rig on
narrow, switch back mountain trails.
    Drill hole AE07-02 was drilled a further 100m north of AE07-03 but
intersected no significant mineralization, even though it drilled under some
higher grade surface float (see plan map on web-site). Both AE07-01 and 
AE07-05 were drilled due south and intersected nothing of interest, likely due
to the south dipping orientation of the zone. Although AE07-04 and AE07-06
were both drilled due south, as well, they intersected the Atlas east zone
with geochemically anomalous gold and silver over an ~10 meter true width.
Drill hole AE07-07, at the west extent of the Atlas East zone, was drilled
north through a 30 meter thick Atlas East zone with bleached, broken, pyritic
andesite with a gold geochemical anomaly.
    In 2005 and 2006, the Atlas East Zone emerged as a new and very exciting
epithermal gold-silver exploration target. Discovery of the Pillar East zone
in 2007 greatly adds to the size of the epithermal system. Surface sampling
consistently revealed abundant mineralized talus float and outcrop consisting
of silicified, quartz stockwork-veined and brecciated andesite Toodoggone
Formation volcanic rocks. Gold-silver mineralization is associated with a
prominent rusty gossan zone hosted by pyritic andesite. Gold and silver
occurring as electrum, native gold, and argentite have been found in both
float and bedrock. Soil and PIMA analysis of the clay-silica minerals suggests
the Atlas East Zone lies close to the top of a hydrothermal system. In such
systems, high-level clay-silica alteration can pass downward into precious
metal mineralization.
    Plans for the 2008 exploration program on the Atlas East zone are being
evaluated.

    B.C. Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX
Venture Exchange. Warner Gruenwald, P.Geo is the Qualified Person, as defined
by National Instrument 43-101, and responsible for the preparation of the
technical information in this release. QA/QC protocols included the insertion
of accredited blanks and standards into the sample stream. Sample analysis was
conducted by Assayers Canada of Vancouver, B.C.
    Documentation about the Company and properties can be viewed on the
company's website at www.finlayminerals.com.

    On behalf of the Board of Directors,

    Robert F. Brown, P. Eng., President

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of this release.

    %SEDAR: 00018019E




For further information:

For further information: Finlay Minerals Ltd., 912 - 510 West Hastings
St., Vancouver, B.C., Canada, V6C 3B6, Telephone: (604) 684-3099, Fax: (604)
684-3098


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890