Finlay Minerals Announces the Commencement of its 2023 Regional Exploration Program on the Silver Hope Property
VANCOUVER, BC, June 13, 2023 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has engaged ALS GoldSpot Discoveries to undertake a machine-learning data review of the Silver Hope Property to delineate and refine future drill targets. The ALS GoldSpot data review will merge all data on the Silver Hope Property to develop a prospectivity report aiming to identify similar signatures to the known mineralized trends and to further enhance other prospective targets for future drilling.
A LiDAR survey is also expected to commence shortly. The survey will consist of 80.3 line kilometres ("km") which will cover 180 km2 of the property including the Main Trend, Equity East, Allin, and the Sam Zones. The survey will result in the generation of a detailed digital elevation model which will be used to further refine targets. Additional field work is being planned and set to begin in late Spring, 2023.
ALS GoldSpot Discoveries leverages machine-learning to reduce capital risk, and simultaneously increase efficiencies and success rates in resource exploration. The ALS GoldSpot team will merge all available geophysical, surface geology/geochemistry and drilling data on the Silver Hope Property to develop a prospectivity report and targets. ALS GoldSpot will develop signatures that exist at the known mineralized trends: the Main Trend, West Trend, and the past-producing Equity Silver Mine, and outline potentially similar signatures on the property but also outline other targets having different mineralization potential.
Robert Brown, P. Eng., President, and CEO of the Company states:
"The data review by ALS GoldSpot, will go a long way towards enhancing the various targets previously generated by drilling, soil geochemistry, ground IP, airborne magnetic and ZTEM geophysical surveys, in addition to developing new targets. The West, Main, and East Trends encompass an area of 2 by 2 km, while the Equity East and Allin Zones encompass an area of 2.5 by 3.0 km - both are large areas with known mineralization and potential for further discoveries."
Only 38 km southeast of Houston, situated in British Columbia's Nechako Plateau, the strategic location of the Silver Hope Property is in an area with numerous past-producing deposits including: Equity Silver, Silver Queen, Bell-Granisle, Huckleberry, and Endako Mines, and offers significant potential for new discoveries.
Finlay's drilling has successfully discovered low-sulphidation copper-silver ± gold mineralization along the Main Trend towards the south of the Equity Main Zone. Through this targeted drilling, the Hope, Superstition, and Gaul Zones have been identified with a west-dipping mineralized trend that extends for 2 km along strike.
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.
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) 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.
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