VANCOUVER, BC, Jan. 20,
2025 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL)
(OTCQB: FYMNF) ("Finlay" or the "Company") retains 100%
ownership and operatorship of its PIL Property in the heart of the
prolific Toodoggone porphyry copper-gold and epithermal precious
metals district of northern British
Columbia, Canada.
Finlay, additionally, congratulates AMARC Resources and
Freeport-McMoran for the new high-grade "AuRORA" copper-gold-silver
discovery on its Joy Property. The AuRORA discovery holes are
approximately 750 metres ("m") from the PIL Property boundary and
approximately 2,500 metres from the PIL South Target. Refer
to the map included in this news release.
The PIL South Target was drilled by Cascadia in 2024 with 2
diamond drillholes. Drilling returned broad intervals of low-grade
copper-silver-gold-molybdenum mineralization including hole
PILS-24-006 returning 0.10% copper with 0.05 g/t gold, 7.1 g/t
silver, and 0.18% zinc over 162.00 m
from 749.00 m, in volcanic rocks
peripheral to a potential mineralized intrusive porphyry
system.
On December 27, 2024, Cascadia
Minerals Ltd. terminated its option on the PIL Property.
Finlay is reviewing the exploration work and data completed by
Cascadia on the PIL with a view to assessing the logical next steps
for a 2025 exploration program. A renewed focus will be on the PIL
South around and along the southern boundary of the PIL Property
where the AuRORA Discovery was made on the adjoining Joy
Property.
The PIL Property has numerous porphyry copper and associated
epithermal gold-silver-copper vein systems on the property
including the newly discovered Zeus & Ben Zones located in the
southwest portion of the property.
Details of the PIL Property exploration targets can be found in
the Company's news release dated November
12, 2024 entitled: "Finlay Minerals reports completion of
2024 field work on its PIL Property by Cascadia Minerals" and
in the PIL Property section of the Company website at
www.finlayminerals.com. Details of Cascadia Minerals Ltd.
2024 exploration work on the PIL can be found on Cascadia's SEDAR
profile at www.sedarplus.ca.
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 with four properties in northern
British Columbia:
- The ATTY Property covers 4,498 hectares ("ha") of
sub-alpine terrain in the southern Toodoggone region. The
Toodoggone is a northwest-trending belt of Triassic to Jurassic arc
terranes that hosts numerous significant porphyry Cu-Au ± Ag and
associated epithermal Au-Ag deposits. The ATTY Property is in
between and contiguous to Centerra Gold's Kemess Property and the
joint-venture Joy Property held by Amarc and Freeport-McMoRan. The
ATTY's KEM target has similarities to the Kemess North Trend, which
hosts the Kemess Underground and Kemess East deposits.
- The PIL Property, which covers 13,965 ha in the heart of
the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and
associated epithermal Au-Ag mineralization. The PIL Property is
neighboured by TDG Gold Corporation's Sable/Baker Property,
Freeport-McMoRan - AMARC Resources joint ventured Joy Property, and
Skeena Resource's Sofia Property. The PIL Property is also 25 km
northwest of Centerra Gold's former Kemess South Mine and 15 km
east of Thesis Gold's Lawyers Project.
- The Silver Hope Property covers 21,690 ha and
surrounds the past-producing Equity Silver Mine in the prospective
Skeena Arch region of central B.C. The Silver Hope contains the
Main Trend which is a >2 km Cu-Ag-Au mineralized trend with
mineralization starting at surface. West of the Main Trend is
the West Cu-Mo Porphyry which is also mineralized starting from
surface. The Property hosts a network of forestry roads and trails
and has all-year access from Houston,
BC.
- The SAY Property covers 15,252 ha and is
located 140 km north of Smithers,
B.C. The SAY Property is within a 135 km long belt of
relatively unexplored Stikine Terrane from American Eagle Gold's
NAK and Amarc Resources/Boliden Minerals Canada's Duke Cu-Mo-Ag-Au
porphyry prospects in the south to the newly discovered porphyry
prospect on Quartz Mountain's Jake Property and the Red Spring
sediment hosted Cu-Ag mineralized showing – both to the north. The
SPUR and SHEL zones are the most advanced targets on the property.
The SPUR is a high-grade Cu-Ag structural controlled vein and
breccia target extending for 4.3 km with assays up to 15.8% Cu and
993 g/t Ag. The SHEL target area is a Cu-Mo porphyry identified by
historic mapping and drilling.
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 & Director
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
PIL 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.