Business
Finlay Minerals Ltd. - Commencement of British Columbia Work Programs
Finlay Minerals Ltd. - Commencement of British Columbia Work Programs.
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, July 31 /CNW/ - The Board of Directors of Finlay Minerals Ltd.\n(\"The Company\") is pleased to announce that the exploration programs have\ncommenced on both the Pil North and Silver Hope properties.\nThe first phase of exploration at the Pil North property has commenced.\nIt consists of road construction to the Atlas East Zone and to the west side\nof the Northwest (NW) copper-molybdenum (Cu-Mo) porphyry target. Core drilling\nof these targets is slated to commence mid-August.\nThe 2005 magnetic survey outlined a prominent \"magnetic low\" along the\nwest margin of the NW Zone that coincides with a north-south fault separating\nToodoggone volcanics to the west and the mineralized intrusive rocks. This\narea is a prime target for 2006 exploration work and one that may\nsignificantly expand the size of the NW Zone.\nIn 2004, drill hole PN04-09 intersected 300 meters of porphyry style\nmineralization with the bottom 168 metres grading 0.09% copper and 0.004%\nmolybdenum. In 2005, drill holes PN05-01, 02, and 09 were step out holes aimed\nat testing the extent of this mineralization. The farthest step out holes\n(PN05-02, 09) located 300+ m from PN04-09 intersected the widest Cu-Mo\nmineralization. PN05-02 intersected 65.1m grading 0.140% Cu and 0.004% Mo\nwhile PN05-09 cut several zones with the longest (155m) containing 0.064% Cu\nand 0.002 % Mo. The last 1.70 metres of PN05-09 contains 0.154% Cu, 0.013% Mo\nalong with 88 ppm tungsten (W), and 0.46% zinc (Zn). The NW Zone is associated\nwith silicified, variably quartz veined and brecciated quartz diorite and\nmonzonite. Mineralization has thus far been traced over an area of 400 by\n400 meters and is open to the north, west and to depth.\nThe Atlas East Zone has emerged as a new and very exciting epithermal\ngold-silver exploration target. Surface sampling revealed abundant mineralized\ntalus float and bedrock of andesitic volcanics that have been silicified,\nquartz stockwork veined and brecciated. Gold-silver mineralization is\nassociated with a prominent gossan (rusty zone) hosted by pyritic andesite.\nMineralization has thus far been traced over an area of 500 meters east-west\nby 200 meters north-south. The full extent and orientation of this\nmineralization have yet to be determined. Gold and silver occurring as\nelectrum, native gold, and argentite h...