Finlay Minerals receives Exploration Permit for its Silver Hope Property
VANCOUVER, BC, Aug. 15, 2022 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has received a five-year Multi Year Area Based British Columbia Mines Act Permit (Mineral) which allows Finlay to commence the 2022 exploration drilling program on its Silver Hope Property ("the Silver Hope"). Field preparations will begin within the next couple of weeks with drilling anticipated to follow in September.
The Silver Hope Property is located approximately 70 kilometres (km) south-east of Houston, BC and is accessible year-round by road. The Silver Hope is positioned within a highly prospective area with producing and past-producing mines, as well as brown-fields exploration projects as neighbours. Finlay is targeting both Equity Silver Mine type Silver (Ag) – Copper (Cu) – Gold (Au), and porphyry Cu-Au-Molybdenum (Mo) mineralization in multiple target areas on the property. (Click HERE to view the drill target areas).
The planned 2,000m drill program will evaluate some of the high-priority, undrilled targets within the Equity East and Allin Target Areas. The Equity East and Allin targets have combined multi-element geochemical, and geophysical anomalies (airborne magnetic and ground induced polarization surveys) strongly associated with the Goosly Intrusive Complex (GIC). 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 GIC.
Follow-up drilling in the Gaul Zone along the Main Trend will target down dip and south along strike of the mineralized zone. The planned drill holes will follow up from historic drill holes: 88TG-26, 88TG-30 and 87TG-24 for which the Company is missing assay data, and which only has reported intercepts.
Additionally, there is planned drilling to test along strike to the south of the Gaul Zone to follow-up drill hole SH21-09 which intersected 76.57m (from 80.23m) grading 0.45% Cu, 14.6g/t silver Ag, and 0.14g/t Au. (Reference: Finlay NR01-22 dated January 20, 2022 on SEDAR). The Gaul Zone mineralization remains open to the south and down dip.
The Silver Hope is located on the traditional territory of the Wet'suwet'en First Nations. Finlay Minerals is actively working to engage with the local communities in whose territories we operate in accordance with our values and respect for Indigenous Nations.
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
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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