VANCOUVER, BC, Feb. 20,
2025 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL)
(OTCQB: FYMNF) ("Finlay" or the "Company") has identified
multiple porphyry and porphyry-related epithermal target zones on
its 100% owned PIL & ATTY Properties in the heart of the
prolific Toodoggone porphyry copper-gold and epithermal precious
metals district of northern British
Columbia, Canada.
The Finlay team has been reviewing the geological data within
the PIL & ATTY Properties and the surrounding areas including
the AuRORA Au-Cu-Ag porphyry discovery on the JOY Project Joint
Venture between Amarc Resources Ltd. ("Amarc") and Freeport-McMoRan
Mineral Properties Canada Inc. ("Freeport"). The collar for drill
hole JP24075 at the AuRORA discovery is only 730 meters ("m") south
of the PIL Property boundary, which included a 266 m interval of 1.24 g/t Au, 0.31% Cu and 3.42
g/t Ag from 34.0 m (see Amarc
Resources News Release dated January 20,
2025 on Amarc's SEDAR profile at www.sedarplus.ca). The
Amarc-Freeport JOY Project is bound at its northwest and southeast
extents by Finlay's PIL and ATTY properties.
The PIL & ATTY Properties are within a 70 kilometer ("km")
porphyry corridor stretching from Electrum Resource Corporation's
Thor-Marmot Property at the southeast end, to Sun Summit's JD
Property at the northwest end (Figure 1).
This corridor is host to several Cu-Au+/- Mo porphyry deposits
and targets, with low and high sulphidation Au-Ag epithermal
systems related to the porphyry centres. The Toodoggone porphyry
corridor is bound by northwest trending structures including the
Saunders, Pillar and Black Faults, which create east-west trending
extension zones where porphyry fluids and intrusional pulses can
develop forming porphyry trends (Figures 1 and 2). The best
east-west extension zone example in the Toodoggone is the Kemess
North Trend which hosts the Kemess Underground and Kemess East
deposits on Centerra Gold Inc.'s Kemess Property.
On the PIL Property there are multiple porphyry
and epithermal targets occurring along east-west trends:
- The PIL South porphyry target is 3.5 km east of the AuRORA
discovery with the Reef high sulphidation target in between and TDG
Gold Corporation's Shasta epithermal Au-Ag deposit to the west.
Drilling in 2024 at PIL South intersected significant Cu-Au
porphyry mineralization including 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;
- The Copper Ridge and Southwest Gossan porphyry targets,
which line up with TDG Gold's Trident and Black Gossan targets;
- The Gold, Central Zone and WG Gold targets, and
- The Atlas, Pillar East and Copper
Cliff are within yet another east-west extension zone.
On the ATTY Property, there are two further
porphyry-epithermal targets occurring along the east-west
trend:
- The KEM porphyry target occurs on a similar east-west
trend as the Kemess North Trend and is within a similar geological
package as Kemess East in addition to hosting a significant
chargeability and resistivity anomaly not yet tested by drilling;
the Attycelley epithermal target east of KEM is potentially the
surface expression of a distal porphyry with a chargeability and
resistivity anomaly just 300 meters to the northwest.
- The Wrich porphyry target is connected to the SW Takla
Porphyry target and on trend with the Canyon, Twins and Mex
porphyry targets on Amarc's JOY Project.
Planning is underway for a significant 2025 exploration program
on the PIL Property. Ideally work will include an IP geophysical
survey, geological mapping, SWIR sample collection and surface
sample collection with the aim of delineating drill targets.
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 3,875 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 Project and the
joint-venture JOY Project held by Amarc Resources and
Freeport-McMoRan. The ATTY Property's KEM target has similarities
to the Kemess North Trend, which hosts the Kemess Underground and
Kemess East deposits.
- The PIL Property, which covers 13,374 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 Amarc Resources and Freeport-McMoRan's
joint venture JOY Project and TDG Gold Corporation's Shasta/Baker
and Sofia Properties. The PIL Property is also 25 km northwest of
Centerra Gold's past-producing Kemess South Mine and 15 km east of
Thesis Gold's Lawyers Project.
- The Silver Hope Property covers 21,322 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 15,246 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, with American Eagle Gold's NAK and Amarc Resources
and Boliden Mineral Canada's DUKE Cu-Mo-Ag-Au porphyry prospects at
the southern end, to HDI Quartz Mountain Resources Ltd.'s
Jake Project Cu-Au-Ag porphyry discovery at the north end of the
belt. The SPUR and SHEL zones are the most advanced targets on the
SAY 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
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 & ATTY Properties. 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.
