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Enter Symbol
or Name

Finlay Minerals Ltd
Symbol C : FYL
Shares Issued 74,167,848
Close 2018-07-06 C$ 0.05
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Finlay Minerals starts exploration at PIL

2018-07-12 10:09 ET - News Release

Mr. Robert Brown reports


Finlay Minerals Ltd. has started an exploration program on its 100-per-cent-owned PIL property in the Toodoggone region of northern British Columbia.

In 2017, the company conducted geophysical, geological and geochemical surveys over the recently discovered Copper Cliff zone and an adjacent 800-metre-long gold-silver (Au-Ag) epithermal structure. The results of this work are outlined in a company news release dated April 24, 2018.

These and the company's previous exploration program results suggest that the Atlas and Pillar East zones are potentially related to the effects of a large, deep-seated alkalic porphyry system.

The 2018 program will consist of systematic, close-spaced trench sampling along the Au-Ag epithermal structure/zone. Trenches will be excavated across the trend of the zone with emphasis on known bedrock and float mineralization. It is hoped that this work will determine the zone's width, strike and dip, alteration, and mineralization. Ultimately the program's objectives are to determine the extent, grade and exploration potential of the Au-Ag epithermal zone.

High-priority targets include a quartz breccia suboutcrop where a grab sample in 2017 graded 19.95 grams per tonne gold and 423 g/t silver -- the best results to date. Another priority target will be the area of a 0.5 m quartz breccia boulder found 40 metres to the north that assayed 6.57 g/t Au and 13.1 g/t Ag. Numerous other rock and soil anomalies along the Au-Ag epithermal zone will be investigated and tested.

The 2017 induced polarization (IP) survey identified a general increase in IP chargeability values with a weak but well-defined anomaly at the southern portion of the Au-Ag epithermal zone just north of the Copper Cliff zone. In 2016, the Copper Cliff chip sampling returned 25 m of porphyry copper mineralization grading 1.04 per cent copper and 23 g/t Ag. Such anomalies will be examined and sampled.

The PIL program is scheduled to be completed by late July with results announced once they are received and compiled.

The company strongly believes that the PIL property has the potential to host epithermal and alkalic copper porphyry deposits similar to those found in the Toodoggone region.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in Northern British Columbia. The company's properties include:

  • The Silver Hope which includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mines (71 million ounces silver, 185 million pounds copper and 508,000 ounces gold); the Silver Hope property surrounds the former Equity silver mine;
  • The ATTY which is contiguous to the north side of the Kemess East deposit and adjacent to the Kemess Underground deposit of Centerra Gold Inc. and which was recently optioned to Serengeti Resources (Finlay news release 01-18 dated March 5, 2018);
  • The PIL property which is adjacent to Sable Resource's Baker mine.

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