Finlay Minerals completes work program on its ATTY Property
Jul 27th, 2022 12:31 EST
Finlay Minerals completes work program on its ATTY Property
VANCOUVER, BC, July 27, 2022
VANCOUVER, BC, July 27, 2022 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce that it has completed a rock, soil, and channel sampling program on its ATTY Property ("ATTY"). The ATTY is in the Toodoggone Mining District of northern British Columbia and is situated directly north of Centerra Gold Inc.'s Kemess Property, which hosts the past-producing Kemess South Mine, the fully permitted Kemess Underground copper (Cu) - gold (Au) porphyry deposit, and the Kemess East Cu-Au porphyry deposit. North of ATTY, Amarc Resources' and Freeport McMoRan's joint venture Joy Property hosts the Pine and Mex Cu-Au porphyry deposits.
The field program on the ATTY focused primarily in the KEM and Attycelley areas, with soils and prospecting completed north on the Valley Target and in the Fog/Mess area. (Click HERE to view the overall property map and the work areas.) A total of 71 rock, 18 channel/chip, and 162 soil samples were collected. Additionally, numerous mapping points, structural measurements, as well as alteration chips for spectral analysis were collected.
- The KEM represents a Cu-Au porphyry target 1.8 km north of the Kemess North Trend which hosts Centerra Gold's Kemess Underground and Kemess East porphyry deposits;
- The Kemess East deposit is cut off by a northwest trending and southwest dipping fault;
- The 2022 mapping and sampling was focused north of past drilling and exposed 5cm to 2.0m wide mineralized veins (quartz + carbonate + chalcopyrite + malachite + pyrite) extending along contour for at least 800m; (Click HERE to view the detailed map of the KEM and Attycelley historical & 2022 work).
- The northern portion of the KEM target hosts a thin layer of Lower Jurassic Hazelton over top of the older Triassic Takla volcanic rocks similar to the Kemess East deposit;
- The 2018 Induced Polarization (IP) surveys conducted along the KEM/Attycelley Trend shows similar geophysical signatures as the Kemess North Trend;
- The combination of vein types, an intense propylitic alteration zone, large historical multi-element geochemistry anomaly, IP geophysical anomalies, and host Triassic volcanic host-rock package all vector towards a shallow porphyry source intrusion similar to the Cu-Au Kemess East deposit.
- The Attycelley epithermal vein target lies east of the KEM. Mapping and sampling have outlined it to over 400m in length and 100m in width - striking to the east and dipping steeply to the south;
- The Attycelley is located along a shear zone with veins ranging in thickness from 0.1m - 2.4m and containing carbonate and minor quartz plus galena, sphalerite, chalcopyrite, and pyrite;
- Historic rock sampling at the Attycelley assayed up to 240.6g/t Ag, 0.66g/t Au, 1.8% Cu, 9.1% Pb, and 5.5% Zn;
- Based on past and 2022 geological mapping, the Attycelley target coincides with a mapped structure measuring a length of 2,200m along strike which could host mineralization along its entire length and which looks to extend through the KEM Target.
The KEM Cu-Au porphyry Target combined with the Attycelley Target both represent drill-ready targets for discovery. With the purchase of the adjacent ATG Property, the ATTY also now includes the Wrich Target which is south of the South Takla Target that hosts a large Cu + Au surface geochemical anomaly on the Joy Property. The ATTY property contains intriguing targets with potential for near-term discovery.
All samples have been shipped to ALS Global Laboratories. Results will be reported once received and reviewed. Following compilation of the assay results, further field programs on the ATTY will be considered.
The ATG Property acquisition is currently undergoing TSX Venture Exchange review.
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.
Finlay is a TSXV company focused on exploration for base and precious metal deposits in northern British Columbia.
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
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 ATTY Property and the ATG Purchase Transaction. 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.