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VANCOUVER, BC, Sept. 22, 2020 /CNW/ - Finlay Minerals
Ltd. (TSXV: FYL) ("Finlay" or the "Company")
is pleased to provide an exploration plan update for its 100% owned
Silver Hope Property.
Silver Hope Property 2020 Drill Program:
A five-hole
900m drill program will take place
along the NNE trending Main Horizon - a geophysical / geochemical
feature that is host to three mineral occurrences. This program is
a follow-up to drill hole SH14-02 at the Gaul Zone, the
southernmost mineral occurrence, which intersected 10.25m grading 319g/t silver, 0.88% copper and
0.19g/t gold starting at 89.0m.
(Reference: NR01-15 news release dated February 26, 2016.)
Drilling will target the up-dip and north-south projections of
this high-grade mineralization. The program will start in early
October with assay results expected by the end of November.
Silver Hope Property 2020 Exploration Plan:
With the
compilation of the historic Silver Hope data, and the recently
completed detailed airborne magnetic survey, a 4km NNE trending
feature that parallels the Company's Main Horizon and Newmont
Corporation's Equity Silver Southern Tail – Main deposits has been
identified. (Click HERE to view the detailed
airborne magnetic survey with targets).
Exploration of this large new target will consist of a
700-sample soil survey, geological reconnaissance and rock
sampling. The Company's exploration model for this area is Equity
Silver-type intrusive related, mesothermal silver-copper-gold
mineralization.
The former Equity Silver Mine produced, between 1980-1994 from
open pit and underground mining, 33.8 million tonnes grading
64.9g/t silver, 0.4% copper and 0.46g/t gold, containing 71.38
million ounces silver, 508,037 ounces gold, and 185.4 million
pounds copper.
(Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001).
The safety of all persons is paramount, and the Company will
continue to follow the Province of British Columbia's guidelines and timelines
regarding COVID-19 to provide a safe working environment for
all.
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration
for base and precious metal deposits in northern British Columbia. The Company's properties
are:
- the Silver Hope Property which 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. The
Silver Hope Property surrounds the former Equity Silver Mine;
- the ATTY Property which is contiguous to the
north side of the Kemess East deposit and adjacent to the Kemess
Underground deposit of Centerra Gold Inc., and
- the PIL Property, which is adjacent to Sable
Resource's Baker Mine, has nine known mineralized zones including
the recently discovered and expanded Pillar East gold-silver
structural system. The Company is focused on the discovery of
copper-gold-molybdenum porphyry systems on the PIL Property.
Qualified Person:
Warner Gruenwald, 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 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 Property. 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.