Finlay Minerals Ltd.
Finlay Minerals is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The company's flagship property, Silver Hope, is situated southeast of Houston, BC; it encircles and is contiguous with the former Equity Silver Mine. This mine was at one point the province's largest silver producer.
The Silver Hope Property has been the focus of Finlay's exploration efforts in the last few years. Through soil sampling, gravity and induced polarization geophysical surveys, and diamond drilling, the Silver Hope Property has yielded two recent discoveries: the copper-molybdenum porphyry in the West Horizon in late 2010 and the new gold-silver-copper discovery in the Main Horizon in 2011.
The company's other assets include the Atty, Pil and Gold Properties. These properties are all situated in the Toodoggone region of British Columbia, which is a mineral-rich area that has several copper-gold porphyry and epithermal gold-silver deposits. The Toodoggone region is host to Sable Resource's Baker Mine (gold-silver) and the recently producing AuRico Gold (formerly Northgate Minerals) Kemess South Mine (copper-gold).
Finlay's Atty Property immediately adjoins the AuRico Gold (formerly Northgate Minerals) Kemess Underground deposit. In 2008, a Titan 24 geophysical survey indicated the potential for a northerly extension of one of the newly discovered zones east of the Kemess Underground deposit onto the Atty Property. In 2011, AuRico Gold/Northgate Minerals completed a Preliminary Economic Assessment on the Kemess Underground deposit, citing an average annual production of 95,000 ounces of gold at a net cash cost of $115 per ounce, an average annual copper production of 41.4 million pounds, and an approximate 12-year mine-life. Based on the positive results of the Preliminary Assessment, a full Feasibility Study is underway by AuRico Gold/Northgate Minerals, and it is expected to be completed in 2013.
The Pil Property is the company's largest holding covering 160 square kilometres in an area prospective for porphyry copper-molybdenum-gold and epithermal gold-silver deposits. Finlay has identified seven mineralized zones on the Pil Property through extensive exploration including the Northwest Zone and the Atlas East/Pillar East Zone, which holds a gold-silver system in excess of a 2 kilometre strike length.
The company's Gold Property is contiguous with the Pil Property and soil sampling of the Gold Property has outlined a 600 x 300 metre gold anomaly.
Management has a long history of exploration in this region with four major discoveries - three of which have gone into production. The Management team includes Robert F. Brown, P.Eng., President & CEO and Warner Gruenwald, P.Geo, Vice President, Exploration who each have over 30 years in the mineral exploration field. Management is lead by John J. Barakso with over 40 years exploration experience and a co-founder of the Kemess South, Kemess Underground, and Equity Silver deposits.