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.
AuRORA Discovery in relation to Finlay's PIL Property (CNW Group/Finlay Minerals Ltd.)
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.
