VANCOUVER, BC, Sept. 19, 2022 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that drilling has commenced on its Silver Hope Property, in central B.C.
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 Suite 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 GIC.
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 76.57 metres ("m"), from 80.23m, grading 0.45% copper ("Cu"), 14.6 g/t silver ("Ag"), and 0.14 g/t gold ("Au") and which continues to be open to the south and down dip.
Robert Brown, President and Chief Executive Officer of Finlay, states:
"The necessary funding by Finlay is in place for the Silver Hope exploration program. The program has high impact exploration potential on the previously untested Equity East and Allin Targets. Silver Hope drilling is targeting both Equity Silver-type Cu-Au-Ag and porphyry copper - molybdenum-type mineralized targets."
Finlay also announces the staking of a further 5,785 hectares contiguous to and northwest of the Silver Hope claim block. (Click HERE to view the Area of New Staking overlaying the Airborne Magnetics Geophysical Survey.) These new claims cover an area, recently exposed by logging, of altered volcanic rocks with Cu mineralization. The newly staked claims also cover a favorable magnetic high trend which hosts the Sam showing where past drilling has intersected broad intervals of Zn-Ag mineralization. Samples have been submitted for analysis.
(Click HERE to view the updated Silver Hope Property section on the Finlay website for further information and history relating to this property.)
Wade Barnes, P. Geo. and Vice President, Exploration for Finlay 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. 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, availability of capital and financing and general economic, market or business conditions, and the other risk factors described in Finlay's filings with Canadian securities regulators on SEDAR at www.sedar.com. 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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