VANCOUVER, BC , June 9, 2022
/CNW/ - Finlay Minerals Ltd. (TSXV:
FYL) ("Finlay" or the "Company") is pleased to
announce its exploration plans for all three of its projects: the
Silver Hope, the PIL, and the ATTY for the summer of 2022.
2022 Exploration Plans:
- Silver Hope: Finlay will conduct a 2,000 metre (m) drill
program with seven to nine drill holes planned for the Equity East,
Allin, and Gaul Zones (MAIN Trend), in addition to in-fill Induced
Polarization (IP) surveys on the Equity East and Allin Zones.
- PIL: ATAC Resources Ltd. ("ATAC") has an option to
purchase 70% of the PIL project. ATAC's 2022 exploration plans will
focus on the Copper Ridge target with detailed geological and
alteration studies, and IP geophysics to develop drill targets. A
drilling permit application was submitted in the spring of 2022 by
ATAC and is being processed for the PIL.
- ATTY: Finlay will conduct a mapping and sampling program
on its silver (Ag)-lead (Pb)-zinc (Zn)-copper (Cu)-gold (Au)
Attycelley target.
Robert F. Brown, President &
CEO of Finlay Minerals states:
"The necessary funding by Finlay is in place for the Silver
Hope and ATTY exploration programs, and our partner, ATAC, is
funding the PIL program. All three programs have high impact
exploration potential. At Silver Hope, drilling is targeting both
Equity Silver type Cu-Au-Ag and porphyry Cu-Mo type mineralized
targets. At PIL, ATAC is focusing on a porphyry Cu-Au-Mo targe;
while at ATTY, Finlay is better defining potential porphyry Cu-Au
and associated vein Au-Ag targets. Management is looking forward to
the commencement of all these work programs."
2022 Silver Hope:
The planned 2,000m drill program
will evaluate some of the high-priority, undrilled targets within
the Equity East and Allin Zones. The Equity East and Allin targets
are combined geochemical, and geophysical anomalies strongly
associated with the Goosly Intrusive Complex (GIC). (CLICK
HERE to view the Silver Hope Property with the
Equity East and Allin Zones and the Main Trend's Gaul
Zone).
The former Equity Silver open-pit and underground mine is
located on the western edge of the magnetic high anomaly which is
interpreted as the GIS (Goosly Intrusive Suite). The exploration
permit is currently being reviewed by the Ministry of Mines &
Energy and Low Carbon Innovation and exploration work will begin
once the permit is received.
Follow-up drilling in the Gaul Zone along the Main Trend will
target down dip of the mineralized zone to twin some 1987 drill
holes that were drilled prior to Finlay's ownership and for which
the Company is missing assay data. The Company will also test south
of SH21-09 which intersected 76.57m (from 80.23m) grading 0.45% Cu, 14.6g/t Ag, and 0.14g/t
Au and which continues to be open to the south and down
dip.
2022 PIL:
ATAC's 2022 exploration plans will focus on the Copper Ridge
target which hosts a 1,300m x
750m Cu – Au – molybdenum (Mo)
surface geochemical anomaly (CLICK HERE to view
the Cu in soils PIL map showing the target areas).
The exploration program will focus on detailed geological and
alteration studies, in addition to IP geophysics to develop drill
targets. Permitting for future drilling has been submitted to the
Ministry of Mines & Energy and Low Carbon Innovation. Follow-up
mapping and sampling is also planned at the Copper Cliff target which hosts a 25m continuous talus sample that assayed 1.04%
Cu. Other targets will be investigated depending on time and
budget.
2022 ATTY:
Finlay's 2022 exploration plans will focus on the Attycelley
vein Ag-Cu-Pb-Zn-Au target within a 1.2km x 1.3km Cu surface
geochemical anomaly. (CLICK HERE to view to
ATTY Map with the target areas.)
The exploration program will include geological and alteration
mapping and sampling to outline the extent of the Attycelley veins
and their relation to the large surrounding soil anomaly, and high
chargeability IP anomaly. The Attycelley hosts several high-grade
samples with values as high as 240.6g/t Ag, 9.1% Pb, 5.5% Zn,
1.8% Cu and 0.66g/t Au.
Qualified Person:
Wade Barnes, 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.
About Finlay Minerals
Ltd.
Finlay is a TSX Venture Exchange company focused on exploration
for base and precious metal deposits in northern British
Columbia.
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, PIL and ATTY Properties. 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.