VANCOUVER, Nov. 6, 2014 /CNW/ - Finlay Minerals Ltd. (TSXV:FYL) (the "Company") is pleased to announce that drilling has commenced on its Silver Hope Property southeast of Houston in central British Columbia. It is anticipated that the Company will drill approximately 1,200m in 3 – 4 holes with the focus being the Main Deep Horizon.
The Main Deep Horizon, situated within the four kilometer long north-south Main Horizon, was identified by drilling in 2011 with the most southerly drill hole, SH11-12, yielding a 76m core length intercept of 0.43 g/t gold, 29.37 g/t silver and 0.20% copper (1.24 g/t gold equivalent (AuEQ)) and displaying a distinct geochemical signature potentially related to a deep magmatic source. The mineralization was encountered below the depth of all historic drilling. The present drilling will continue south from hole SH11-12 and at depth to attempt to better define the extent and dimensions of this gold-silver-copper mineralization.
Results of the drilling program will be announced upon receipt and compilation of assay results.
Finlay employs a quality assurance/quality control (QA/QC) program for the Silver Hope project that includes regular insertion of certified reference standards and blanks along with the collection of duplicate samples. Warner Gruenwald, P.Geo and Vice President, Exploration for Finlay Minerals Ltd. is the Qualified Person as defined by National Instrument 43-101.
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. The company's flagship property, Silver Hope, includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones in a contiguous trend with the mined out deposits of the former Equity Silver Mine (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold).
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 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 or otherwise, except as required by applicable law.
SOURCE: Finlay Minerals Ltd.
For further information: Corporate Information & Investor Inquiries: Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-3099, [email protected]