VANCOUVER, June 13, 2017 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") reports the completion of a detailed airborne magnetometer survey over the newly discovered copper-silver alkali-porphyry system on the 100% owned PIL Property located in the Toodoggone region of northern British Columbia.
On October 25, 2016, Finlay reported the discovery of a copper-silver alkali-porphyry system on the PIL Property. All rock samples collected in 2016 contained disseminated chalcopyrite mineralization. Sampling of talus below mineralized outcrop returned up to 25m @ 1.04% copper and 23.9 g/t silver. Petrographic analysis identified the discovery as a potassic altered, low-Fe / high-Cu hypabyssal (shallow depth) monzonite porphyry. This initial work establishes that the PIL property has the potential for high-grade copper mineralization, hosted by porphyry rocks like other major discoveries in the Stikine terrane (such as the former Kemess Mine and the Kemess Underground and Kemess East deposits of AuRico Metals Inc. and the Red Chris Mine of Imperial Metals Corporation). See Finlay's press release entitled "Finlay Minerals Ltd. discovers an alkalic porphyry copper-silver system on its PIL Property" dated October 25, 2016, for additional information.
The detailed airborne magnetic survey was conducted over an 8.75 square kilometer area on 100 meter spaced east-west orientated lines using a towed bird system. Within the survey area are the above copper-silver alkali-porphyry system, two epithermal gold-silver systems and a coincident Thorium-Potassium ratio anomalous zone (2004 Toodoggone airborne geophysical survey). The survey was flown to see if the monzonite intrusion can be differentiated from the host volcanic tuffs, leading to a more focused mapping, sampling, and induced polarization geophysical program in the summer of 2017. Details of the magnetic survey will be reported on after due analysis.
Finlay is focused on discovering large, stand-alone, copper-precious metal rich alkali-porphyry systems on its PIL and ATTY properties in the Toodoggone region of the Stikine terrane, in northern British Columbia.
Warner Gruenwald, P. Geo. and Vice President, Exploration for Finlay, a qualified person as defined by National Instrument 43-101, has approved the preparation of the scientific and technical information contained in this new release.
Finlay 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.
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),
- the ATTY which is contiguous to the north side of the Kemess East deposit of AuRico Metals Inc., and
- 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
