VANCOUVER, Sept. 27, 2011 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (the "Company") reports the completion of its second drilling program
of 2011 on the Silver Hope Property near Houston, B.C.
The summer exploration program took place between early July and
mid-September and entailed the completion of seven deep drill holes
totaling 3,600 metres. Three holes tested the recently discovered West
Horizon porphyry copper-molybdenite mineralization, three holes drilled
the deeper portions of the Superstition Zone of the Main Horizon, and
one hole was completed in the East Horizon to follow-up on coincident
strong induced polarization (IP) and soil geochemical anomalies. Final
assay results and data compilation will be released once available.
Drilling has successfully expanded the size of the West Horizon porphyry
copper-molybdenum zone on the property to approximately 1,000 metres
(north-south) by 175 metres wide. Drill hole SH11-05 (see news release
of June 2, 2011) indicated porphyry mineralization extending vertically
to depths of at least 600 metres. The porphyry is open to the south on
the Silver Hope Property. In addition, copper mineralization was
intersected in adjacent volcanic rocks up to 300 metres easterly of the
A geological model being developed by Finlay Minerals management
envisions the West Horizon porphyry copper-molybdenum as core
mineralization surrounded by an altered and mineralized shell of
volcanic and sedimentary rocks that host the Main Horizon copper-silver
"Equity Silver Mine" type mineralization. Drilling indicates that
there is considerable potential between the West and Main Horizons in
the extensive shell.
To date 74 holes have been drilled on the Silver Hope Property. Since
September, 2010 Finlay has drilled 19 holes with 15 having identified
the new copper-molybdenum porphyry system as well as the adjacent
copper-silver mineralization below shallow historic holes drilled in
the Main Horizon.
About Finlay Minerals Ltd.
Finlay Minerals is a TSX Venture Exchange company focused on exploration
for base and precious metal deposits in northern British Columbia. In
addition to the company's flagship property, Silver Hope, the Pil and
Atty properties are situated in the Toodoggone region, a mineral-rich
area that is host to several copper-gold porphyry and epithermal
gold-silver deposits. New discoveries on the Pil property include the
Northwest Zone copper-molybdenum porphyry mineralization and the Atlas
East/Pillar East epithermal gold-silver zones.
On behalf of the Board of Directors,
Robert Brown, P. Eng.
President & C.E.O.
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 release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration drilling
and other activities and events or developments that Finlay Minerals
Ltd. ("Finlay") expects to occur, are forward-looking statements.
Forward-looking statements in this news release include statements regarding the placements and future exploration plans and
expenditures. 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 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 for the transactions described herein, 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 events or otherwise, except as required by
SOURCE Finlay Minerals Ltd.
For further information:
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Finlay Minerals Ltd.
John Barakso, Director
Tel: (604) 684-3099
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