VANCOUVER, BC, June 13,
2023 /CNW/ - Finlay Minerals Ltd. (TSXV:
FYL) (OTCQB: FYMNF) ("Finlay" or the "Company")
is pleased to announce that it has engaged ALS GoldSpot Discoveries
to undertake a machine-learning data review of the Silver Hope
Property to delineate and refine future drill targets. The ALS
GoldSpot data review will merge all data on the Silver Hope
Property to develop a prospectivity report aiming to identify
similar signatures to the known mineralized trends and to further
enhance other prospective targets for future drilling.
A LiDAR survey is also expected to commence shortly. The survey
will consist of 80.3 line kilometres ("km") which will cover 180
km2 of the property including the Main Trend, Equity
East, Allin, and the Sam Zones. The survey will result in the
generation of a detailed digital elevation model which will be used
to further refine targets. Additional field work is being planned
and set to begin in late Spring, 2023.
ALS GoldSpot Discoveries leverages machine-learning to reduce
capital risk, and simultaneously increase efficiencies and success
rates in resource exploration. The ALS GoldSpot team will merge all
available geophysical, surface geology/geochemistry and drilling
data on the Silver Hope Property to develop a prospectivity report
and targets. ALS GoldSpot will develop signatures that exist at the
known mineralized trends: the Main Trend, West Trend, and the
past-producing Equity Silver Mine, and outline potentially similar
signatures on the property but also outline other targets having
different mineralization potential.
Robert Brown, P. Eng., President,
and CEO of the Company states:
"The data review by ALS GoldSpot, will go a long way towards
enhancing the various targets previously generated by drilling,
soil geochemistry, ground IP, airborne magnetic and ZTEM
geophysical surveys, in addition to developing new targets.
The West, Main, and East Trends encompass an area of 2 by 2 km,
while the Equity East and Allin Zones encompass an area of 2.5 by
3.0 km - both are large areas with known mineralization and
potential for further discoveries."
Only 38 km southeast of Houston, situated in British Columbia's Nechako Plateau, the
strategic location of the Silver Hope Property is in an area with
numerous past-producing deposits including: Equity Silver, Silver
Queen, Bell-Granisle, Huckleberry,
and Endako Mines, and offers significant potential for new
discoveries.
Finlay's drilling has successfully discovered low-sulphidation
copper-silver ± gold mineralization along the Main Trend towards
the south of the Equity Main Zone. Through this targeted drilling,
the Hope, Superstition, and Gaul Zones have been identified with a
west-dipping mineralized trend that extends for 2 km along
strike.
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 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
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.
