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VANCOUVER, BC, May 18, 2021 /CNW/ – Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") announces that the 2021 exploration field program will commence immediately on the newly discovered Equity East anomaly on its Silver Hope Property.
The focus of the field program will be on the newly discovered Equity East Zone: a multi-element, 3 kilometer (km) long (and open-ended) soil anomaly, immediately down-ice from a 5km long ZTEM airborne geophysical anomaly.
This Equity East soil – ZTEM feature is parallel to the MAIN – Equity Silver Mine trend which is 5km to the west and which hosted the historical Equity Silver open pit and underground mines (32.63M tonnes milled which produced 71.36 million oz. of silver (Ag), 508,000 oz. of gold (Au), and 185.4 million lbs. of copper (Cu) *), now owned by Newmont Corp, and Finlay's MAIN Trend mineralization. (CLICK HERE to view the map of the area of work on the Silver Hope Property).
The primary focus at the Equity East will be a reconnaissance induced polarization (IP) ground geophysical survey (16 line-km) to determine if the mineralization of the soil anomaly is related to the ZTEM feature. The soil grid will be expanded, and a detailed program of geological mapping and prospecting will be conducted.
Exploration is targeting both structurally related replacement, Equity Silver type Ag-Au-Cu mineralization (+100M oz. silver equivalent (AgEq), as well as Cu-Au-Mo-Ag porphyry intrusions) with the goal of generating drill targets.
Robert Brown, P. Eng., 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 TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company's properties are:
the Silver Hope Property, which surrounds the former Equity Silver Mine, includes:
1) the Equity East discovery of 2020,
2) the porphyry copper-molybdenum mineralization discovered in 2010, and
3) three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mine (71.36 million oz. silver, 185.4 million lbs. copper and 508,000 oz. gold); *Reference: http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001;
the ATTY Property which is contiguous to the north side of the Kemess East deposit and next to the Kemess Underground deposit of Centerra Gold Inc., and
the PIL Property, which is next to Sable Resource's Baker Mine, has nine known mineralized zones including the recently discovered and expanded Pillar East gold-silver structural system. The Company is focused on the discovery of Cu-Au-Mo porphyry systems on the PIL Property.
Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. 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.,
CEO & President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 Company's Silver Hope 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.
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