VANCOUVER, Oct. 31, 2018 /CNW/ - Finlay
Minerals Ltd. (TSXV: FYL) (the "Company") is pleased to report
that deep-penetrating induced polarization (IP) and
magnetotellurics (MT) geophysical surveys have commenced at its
100% owned Silver Hope Property in central British Columbia.
Since 2010, the drilling of geophysical anomalies at the Silver
Hope has successfully led to the discovery of the West Horizon
copper-molybdenum (Cu-Mo) porphyry, and to the deep-seated
copper-silver-gold (Cu-Ag-Au) stockwork mineralization along the
Main and Main Deep Horizon. The new IP and MT work can
potentially penetrate to 1.5km depth and be used in conjunction
with previous IP, magnetics, gravity, airborne geophysical surveys
and core drilling to provide more comprehensive data
re-interpretation. Ultimately, this will allow for target
definition and vectors for future drilling programs.
The current survey will complete coverage of the West, Main/Deep
and East Horizons. (Click HERE for a map of the IP & MT lines
and the Horizons).
Management is targeting deep-seated porphyry intrusions that are
believed to be the source for Cu-Ag-Au occurrences found along a
favourable geological trend (Main Trend) that extends south from
the former Equity Silver Mine deposits.
The Company further reports the approval of a multi-year
exploration permit for exploration work until 2024. The
Property was also granted tenure protection due to the wildfires
and evacuation orders this summer and early fall.
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 oz. silver, 185 million lbs. copper and 508,000 oz. gold;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001). 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 was recently optioned to
Serengeti Resources (Finlay NR 01-18 dated March 5, 2018), and
- the PIL Property which is adjacent to Sable
Resource's Baker Mine.
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.
President & CEO
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 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.