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Finlay Minerals Ltd. - Initial Results from Atlas gold-silver zones, B.C.
Finlay Minerals Ltd. - Initial Results from Atlas gold-silver zones, B.C..
About this update from Finlay Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Aug. 17 /CNW/ - The Board of Directors of Finlay Minerals\nLtd. (\"The Company\") is pleased to announce some preliminary results from the\nAtlas gold-silver zones on the Pil North property.\nThe first phase of the 2006 exploration program at the Atlas East and\nWest zones has commenced. Exploration work includes detailed soil sampling,\ntrenching, road construction and drill site preparation. A magnetometer and EM\nsurvey will be completed this week. Core drilling will commence in the next\nseven to ten days.\nMapping and soil sampling at Atlas East has delineated extensive silica\nand clay alteration and revealed gold and silver values in soils up to\n3640 ppb and 45.9 ppm respectively. The gold and silver soil maps will soon be\nposted on the Company website. Rock sampling has returned multi-gram gold and\nsilver values and has extended the Atlas East mineralization to the south and\nwest. Anomalous gold and silver-in-soil cover an area 600 metres long and up\nto 200 metres wide.\nThe newly constructed road within this anomaly exposes zones of\nepithermal silicification exceeding 20 metres in road-cut length. Silica\nstockworks and pyritic silica breccias, some of which contain visible gold and\nsilver mineralization, were discovered. Gerry Ray, PhD, is presently\ngeologically mapping the Atlas Zones and new access roads, with emphasis on\nalteration patterns and structural controls on the epithermal gold-silver\nmineralization.\nIn 2005, the Atlas East Zone emerged as a new and very exciting\nepithermal gold-silver exploration target. Initial surface sampling revealed\nabundant mineralized talus float and outcrop consisting of silicified, quartz\nstockwork-veined and brecciated andesite volcanics. Gold-silver mineralization\nis associated with a prominent rusty gossan zone hosted by pyritic andesite.\nMineralized rock has been traced over an area of 500 metres east-west and up\nto 200 metres north-south. Gold and silver occurring as electrum, native gold,\nand argentite have been found in both float and bedrock. Soil and PIMA\nanalysis of the clay-silica minerals suggests the Atlas East Zone lies close\nto the top of a hydrothermal system. In such systems, high-level clay-silica\nalteration can pass downward into precious metal mineralization. Testing this\nwill be a high priority in the upcoming drill p...