VANCOUVER, June 20 /CNW/ - The Board of Directors of Finlay Minerals Ltd.
("The Company") is pleased to announce the commencement of a minimum
1,500 meter core drilling program at the Silver Hope Property located in
central British Columbia.
The initial Phase 1 core drilling program has been planned to test the
deep silver-copper-gold breccia related mineralization (as noted below), both
for extent and continuity in the Hope zone, and for the presence of
silver-copper-gold breccia related mineralization deep below the Gaul zone.
This drill program will consist of four (4) core holes each 400-450 meters
long, three designed to test the Hope zone, and one at the Gaul zone. Drilling
is contracted to Driftwood Diamond Drilling of Smithers, B.C.
The Silver Hope Property is contiguous with the southern boundary of the
past producing Equity Silver Mines Property (33,800,000 tonnes @ 0.4% copper,
64.7 g/t silver, and 0.46 g/t gold from open pit and underground mining) and
covers prospective stratigraphy for discovery of stratabound
copper-silver-gold mineralization. Prior workers conducted several drilling
programs along a 2 kilometer strike length of favourable geology that
partially outlined three near-surface bulk tonnage copper-silver zones with
deeper higher grade copper-silver zones. The zones, named Hope, Superstition
and Gaul by prior workers, occur along favourable structural horizons in
pyroclastic volcanic rock notable by fracturing and discrete breccias that
have been tested by approximately 40 holes.
Warner Gruenwald, P.Geo., and V.P. Exploration for the Company, is the
Qualified Person, as defined by National Instrument 43-101 and will conduct
the exploration program on the Silver Hope project. Finlay Minerals Ltd.
trades under the symbol "FYL" on the TSX Venture Exchange. The Silver Hope
property is part of a strategic move to expand the Company's presence in B.C.,
and to complement the Company's Toodoggone projects. Documentation about the
Company and properties can be viewed on the company's website at
Finlay management has also approved the issuance of 1,200,000 options to
management, directors, and consultants. The options are for a period of
5 years and set at $0.20.
On behalf of the Board of Directors,
Robert 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.
For further information:
For further information: 912 - 510 West Hastings St., Vancouver, B.C.,
Canada, V6C 3B6, Telephone: (604) 684-3099, Fax: (604) 684-3098