VANCOUVER, BC, Sept. 22,
2022 /CNW/ - Finlay Minerals Ltd. (TSXV:
FYL) (OTCQB: FYMNF) ("Finlay" or the "Company")
is pleased to announce results from the 2022 exploration program
conducted on its ATTY Property ("ATTY") which included
trenching at the Attycelley Target, and mapping and rock sampling
at the KEM Target
Highlights included Trench 2 on the Attycelley Target assaying
32.4 g/t silver ("Ag"), 0.34 % copper ("Cu"), 1.07 % lead ("Pb"),
2.98 % zinc ("Zn"), and 0.04 g/t gold ("Au") over 11 metres, ("m")
including 1 metre grading 198 g/t Ag, 1.62 % Cu, 8.23 % Pb, 0.88 %
Zn, and 0.18 g/t Au.
Robert F. Brown, President &
CEO of Finlay Minerals states:
"The 2022 ATTY exploration advanced the KEM porphyry and
Attycelley epithermal vein targets to drill-ready status. Favorable
alteration, widespread mineralization and coincident geophysical
anomalies at both these adjacent occurrences suggests the presence
of a significant mineralizing system underlying the western portion
of the ATTY Property. Finlay is pleased with the
results and target sizes and will be planning further exploration
for 2023."
Attycelley Target
–
The Attycelley target is an east-northeast-trending, steeply
south-dipping, low-sulphidation epithermal vein system along a
similar trending fault/shear. The structure exhibits intense
oxidation and clay alteration associated with meter-scale
quartz-carbonate-galena-sphalerite-chalcopyrite-pyrite veins.
The Attycelley target is east-northeast of the KEM target.
(Click HERE to view the Zn Soil and Rocks map
for Attycelley and KEM.) Mapping and sampling have
demonstrated mineralization over 500
m in length striking to the east and dipping steeply to the
south. Based on past and 2022 geological mapping, the Attycelley
target coincides with a structure mapped for 2,200 m along strike, with potential for
mineralization along its entire length. The structure appears to
extend west-southwest to the KEM target.
In 2022, mineralization along the shear zone was exposed and
sampled in three (3) hand-dug trenches, the extents of which were
limited by overburden cover; mineralization in all three trenches
is open laterally.
Attycelley Trench Assay Results:
Trench
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
Trench
1
|
0
|
2
|
2
|
0.38
|
11.3
|
0.07
|
0.21
|
0.70
|
Trench
2
|
0
|
11
|
11
|
0.04
|
32.4
|
0.34
|
1.07
|
2.98
|
including
|
0
|
6
|
6
|
0.02
|
3.0
|
0.16
|
0.36
|
4.11
|
including
|
6
|
11
|
5
|
0.06
|
67.8
|
0.55
|
1.92
|
1.63
|
including
|
7
|
8
|
1
|
0.18
|
198.0
|
1.62
|
8.23
|
0.88
|
Trench
3
|
0
|
2
|
2
|
0.11
|
9.3
|
0.11
|
0.48
|
0.35
|
Trench 1 was sampled across 5 m,
and the first two (0-2 m) samples
were mineralized within sheared, chloritized, and oxidized volcanic
rocks and averaged 11.3 g/t Ag, 0.07 % Cu, 0.21 % Pb, 0.70 % Zn,
and 0.38 g/t Au. Mineralization in quartz-carbonate veins included
malachite stains, blebby chalcopyrite, and pods of galena.
Trench 2 was the western and longest trench. The trench
was 11 m long. Sampling was
done on 1 m intervals and included
1 m (7-8
m) grading 198 g/t Ag, 1.62 % Cu, 8.23 % Pb, 0.88 % Zn, and
0.18 g/t Au, within 11 m grading 32.4
g/t Ag, 0.34 % Cu, 1.07 % Pb, 2.98 % Zn, and 0.04 g/t Au.
Trench 3 was sampled across 2 m of
sheared, chloritized oxidized volcanic rock, with calcite-quartz
veining mineralized by pyrite, malachite, chalcopyrite, and blebby
galena. The 2 m interval
averaged 9.3 g/t Ag, 0.11 % Cu, 0.48 % Pb, 0.35 % Zn, and 0.11 g/t
Au.
Trenches 1 and 3 were sampled using a typical channel saw along
the desired length with 1 m
continuous sample intervals. Trench 2 was channel sampled by
chipping the heavily altered and oxidized rock with a shovel and
hammer and sampling composite 1 m
sample intervals.
KEM Target –
The KEM target consists of a multi-oriented mineralized
vein/breccia swarm underlain by a deep high chargeability anomaly
as indicated by induced polarization (IP) surveys. KEM is
considered a porphyry Cu-Au target due to its characteristic
alteration and vein assemblages. The occurrence lies 1.8 km north
of the Kemess North Trend which hosts Centerra Gold's Kemess
Underground and Kemess East porphyry deposits. The Kemess East
deposit is truncated at its eastern margin by a northwest-trending
fault which extends onto the ATTY property and west of the KEM
target area.
The 2022 exploration program expanded the extent of the known
mineralization and further supports the potential for a porphyry
system at the KEM Target. Alteration mapping north of historic
drilling showed a gradational increase in the intensity of
propylitic alteration northward, with exposures of weak potassic
alteration assemblages in the far north. Multiphase
quartz-carbonate-chalcopyrite-malachite-pyrite veins range in
thickness from 5 cm – 2.0 m, and
trend subparallel to topography for > 1 kilometre.
The 2022 KEM rock samples, of which there were 31 samples,
consisted of mineralized veins, breccias and altered country rock.
Samples yielded up to 0.61 g/t Au, 49.5 g/t Ag, and 1.10 %
Cu. Average assay values for the rock samples were 0.11 g/t
Au, 0.29 % Cu and 14.9 g/t Ag.
Selected Rock Sample Highlights from the KEM Target:
Sample
Description
|
Sample
ID
|
Easting
|
Northing
|
Au
(g/t)
|
Cu
(%)
|
Ag
(g/t)
|
Composite 1 m chip
sample over chloritized and
brecciated basalt with quartz and calcite matrix
|
F927467
|
637361
|
6329178
|
0.24
|
0.5
|
44.1
|
Quartz-carbonate
oxidized vein with malachite
|
F927466
|
637368
|
6329182
|
0.09
|
1.08
|
36.7
|
Augite phyric basalt
cut by quartz and calcite veining
and pervasively chlorite and epidote altered
|
F927482
|
637843
|
6328962
|
0.61
|
0.29
|
3.7
|
Crystalline
epidote-hematite-quartz-chalcopyrite-
magnetite veins cross-cutting propylitic altered basalt
|
F927483
|
637838
|
6328958
|
0.47
|
0.24
|
1.4
|
Multiple parallel
stages of quartz-chalcopyrite, quartz-
calcite-hematite-chalcopyrite and vein breccia
|
F927464
|
637388
|
6329240
|
0.04
|
0.85
|
49.5
|
Quartz-calcite-chalcopyrite matrix within a
brecciated
propylitic altered augite phyric basalt
|
F927462
|
637430
|
6329243
|
0.07
|
0.64
|
31.2
|
Vuggy quartz breccia
and parallel wide coxcomb
quartz-chalcopyrite vein
|
F927461
|
637413
|
6329227
|
0.01
|
0.74
|
33.5
|
Cross cutting oxidized
quartz-chlorite-malachite vein
and oxidized quartz-calcite-chalcopyrite breccia vein
|
F927484
|
637803
|
6328973
|
0.32
|
0.23
|
18.3
|
These KEM rock samples
are from outcrops and the field sampling was selective.
|
The 2022 ATTY program included a total of 71 rock, 18
channel/chip, and 162 soil samples. Additionally, numerous mapping
points, structural measurements, and alteration chips for spectral
analysis were collected. Further maps, details and photos
from the 2022 ATTY exploration program are available on the Finlay
website at www.finlayminerals.com under the ATTY Property
Mineralization page.
The ATTY Property is located within the Toodoggone Mining
District of northern British Columbia. It is situated north
of Centerra Gold Inc.'s former Kemess South Mine, the fully
permitted Kemess Underground Cu-Au porphyry deposit, and the Kemess
East Cu-Au porphyry deposit, and to the south of Amarc Resources'
and Freeport McMoRan's joint venture Joy property hosting the Pine
and Mex Cu-Au porphyry targets.
Conclusions & Next Steps
–
The KEM represents a Cu-Ag porphyry target and combined with the
Attycelley low-sulphidation epithermal vein target, both now have
drill-ready targets for discovery. With the purchase of the
adjacent ATG Property, the ATTY also now includes the Wrich target
which is south of the South Takla target which hosts a large Cu-Au
surface geochemical anomaly on the Joy Property. (Click
HERE to view the complete ATTY Property
Map.)
The ATTY property contains intriguing targets with great
potential for near-term discovery.
Sample Collection, Laboratory
Procedures, and Quality Assurance / Quality Control (QA/QC)
–
All samples were shipped to ALS Global Laboratories for
analysis. The rock and trench samples were sampled, photographed
and geological information was taken in the field. The samples were
placed in sample bags with a sample tag and securely sealed with
zap straps and then placed in rice bags that were sealed with
security tags and then shipped to ALS Global Laboratories in
Kamloops, BC. Rock and trench
samples were crushed to 70% less than 2 millimetres, rotary split
off 250 grams ("g"), and pulverised split to better than 85%
passing 75 microns. Samples were analyzed for 48 elements by
four-acid digestion on a 0.25 g sample (method ME-MS61). Gold was
analyzed by fire assay using a 30 g sample with an AAS finish
(method Au-AA23). Over limit silver assays greater than 100 ppm
were re-analyzed by fire assay using a gravimetric finish using a
30 g sample. Assays for copper, lead and zinc that were greater
than 10,000 ppm were re-analyzed by four-acid digestion and an ICP
finish using a 0.4 g sample for overlimit values.
Soil samples were placed within rice bags, securely sealed with
security tags, and shipped to ALS Global Laboratories in
Kamloops, BC. The soil samples
were dry screened to 180 micron (80 mesh) and analyzed by Aqua
Regia (AuME-TL43) using a 25 g sample.
In addition to the ALS Global Laboratory QA/QC protocols, Finlay
Minerals implements an internal QA/QC program that includes the
insertion of duplicates, standards, and blanks into the sample
stream accounting for 4% of the total samples.
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 TSXV company focused on exploration for base and
precious metal deposits in northern British Columbia.
Finlay trades under the symbol "FYL" on the TSXV and under the
symbol "FYMNF" on the OTCQB. 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 TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accept
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
ATTY 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, 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.