Overview

Finlay’s Atty property is located approximately 10 kilometers north-northwest of the former Kemess copper-gold (Cu-Au) mine and 460 air-kilometers north of Prince George, BC. The property is 100% owned by Finlay Minerals and is comprised of a contiguous block of 13 mineral tenure claims covering 3,393 hectares (33.93 km2).

Access has previously been by helicopter based out of the Kemess Mine. Recent work by AuRico on the Kemess East area has provided potential road access to the southernmost area of the Atty property.

Atty is strategically located immediately north and adjacent to AuRico Metal’s Kemess North (Underground) and Kemess East deposits. AuRico has been active at Kemess Underground and Kemess East (2011 to 2017) and have progressed the deposits through to feasibility and environment assessment studies.

Finlay plans to drill test several “Titan” Induced Polarization (IP) anomalies very near the property border with AuRico’s property. These IP anomalies may reflect Cu-Au porphyry mineralization like that seen south at the Kemess East deposit situated within a kilometer of the property border. The Awesome showing located approximately four kilometers north of the Atty-AuRico claim boundary provides potential for epithermal gold-silver (Au-Ag) deposits.

BC Map
BC Map
Atty Claim Map
Atty Claim Map

History and Results (Pre-Finlay)

During the period 1969 through 1989, several operators explored mineral claims that included parts of what is now the Atty property. They included Kennco Explorations (Western) Ltd., Bishop Mines Ltd., ABM Mining, Inca Resources Inc., Texasgulf Canada Ltd. and its successor Kidd Creek Mines Ltd., Canadian Venture Corporation and Moondust Ventures. From 1990 through 1998 Electrum Resources (predecessor company) owned and explored the property. Exploration included soil, stream sediment and rock geochemical surveys, airborne and ground magnetic and VLF-EM geophysical surveys, limited hand trenching and geological mapping.

History and Results (Finlay Minerals, AuRico Metals)

Finlay Minerals acquired the property from Electrum in 1999 and has established 11.6 kilometers of grid lines, 9.8 kilometers of magnetic surveys, 8.3 kilometers of IP surveys, collected 131 soil samples, 48 rock samples, and prepared a geological map.

In 2004 Finlay conducted a helicopter supported drilling program consisting of 7 holes totaling 1,653 meters. Exploration targeted coincident soil geochemical and geophysical (IP, magnetics) anomalies associated with a prominent rusty area known as the Atty Gossan Zone (photo above). At the Awesome epithermal showing near the centre of the property soil and rock sampling and an induced polarization survey were completed. Drilling failed to intersect porphyry style mineralization. However, in three holes, zones of pyrite-magnetite mineralization associated with brecciated andesite were intersected over core lengths of up to 70 meters. Whether this represents the uppermost effects of a porphyry system is yet unknown.

In 2007 the Company commissioned Quantec geoscience to carry out a deep penetrating Titan IP geophysical survey. The survey identified three anomalies that were recommended to be drill tested. These anomalies may represent a northerly extension of the Kemess East (see ATTY Hillshade Map) copper-gold porphyry located east of the Kemess Underground deposit (formerly known as Kemess North). AuRico Metals (formerly Northgate Minerals) discovered the Kemess East zone in 2014 by drilling a similar deep Titan I.P. anomaly.

AuRico Metals has been active at Kemess Underground and Kemess East (2011 to 2017) and have progressed the deposits through to feasibility and environment assessment studies.

In 2013, AuRico Gold completed its feasibility study on the Kemess Underground Zone with the outline of the development of an underground block cave operation. Annual production is projected at 105,000 ounces of gold and 44 million pounds of copper at cash costs of $213 per ounce of gold, net of by-product credits, over a mine-life of approximately 12 years. Base case commodity price assumptions are $1,300/oz gold, $3.00/lb copper and $23/oz silver and an exchange rate of US$/CDN$1.00.

A review of the 2004 Toodoggone airborne survey reveals the presence of large potassium and thorium/potassium anomalies in the area drilled by Finlay as well as over the Awesome epithermal showing. Such geophysical signatures could be prospective for mineralization. Finlay plans to commission a detailed analysis of this data to assist with future work programs.

On December 15, 2014 AuRico Gold announced the discovery of a new porphyry mineralized system named Kemess East. Following on January 21, 2015, AuRico further announced an initial resource of 5.5 million Gold Equivalent Ounces at Kemess East bringing the Total Kemess Property (Kemess East and pre-existing Kemess Underground) resource to 10.6 million Gold Equivalent Ounces.

On March 23, 2016 AuRico Metals announced a positive feasibility study update on the Kemess Underground reporting a measured & indicated mineral resource estimate of 246,400,000 tonnes containing 1,195,300 lbs. of copper grading 0.22%, 3,328,000 ounces gold grading 0.42%g/t and 13,866,000 ounces silver grading 1.75g/t. Also on March 23, 2016, AuRico Metals announced a high-grade core to the Kemess East Deposit with an indicated mineral resource estimate of 39,200,000 tonnes totaling; 344,000,000 lbs. of copper grading 0.40%, 627,000 ounces gold grading 0.50g/t, 2,512,000 silver grading 1.99g/t and 7,100,000 lbs. molybdenum grading 0.008%. (http://www.auricometals.ca/kemess/kemess-underground-project/default.aspx)

Since 2006 AuRico has completed 71 drill holes in the Kemess East with 31 of these holes completed since late 2013 (44,633 meters). Most of the mineralized drill intersections on the Kemess East occur between 1.1 and 1.3 km south of the Atty property border.

Finlay Minerals plans to drill test several Titan IP anomalies, as they may reflect similar copper-gold porphyry mineralization as seen south at Kemess East.

Potassium
Potassium
Potassium Thorium
Potassium Thorium
Calculated Magnetic Vertical Gradient
Calculated Magnetic Vertical Gradient

Geology and Mineralization

Atty gossan, looking south with Kemess North deposit in background
Atty gossan, looking south with Kemess North deposit in background

The Atty property, as with the Company’s Pil property 30 kilometers northwest, is situated in the Toodoggone mining district, a mineral-rich belt that hosts numerous porphyry Cu-Au and epithermal Au-Ag deposits. Several of these deposits are former producers namely the Kemess and Baker Mines.

The property is underlain in part by each of the Toodoggone Formation, the Takla Group and intrusive rocks (the Black Lake Intrusive Suite) of the similar age to the Toodoggone Formation. Takla Group volcanics, basaltic andesite flows and fragmental rocks underlie the central part of the property. In the southern part of the property some units of thinly layered ash tuffs exist. A lobe of Toodoggone-age monzogranitic intrusive rock occurs in the southwest corner of the claims. The Takla Volcanics and Toodoggone Formation are found in distinct areas separated from each other by steeply dipping faults, the most prominent of which trend northwest.

The visually prominent, orange-brown weathered Atty Gossan zone although developed in Takla volcanics was thought to possibly reflect the effects of a buried and mineralized intrusion. The nearby Kemess North deposit is itself manifested by a large well-developed gossanous zone capping resulting from the weathering of disseminated pyrite mineralization. This gossan forms an elongate east-west zone measuring approximately 3,300 meters long by 800 meters wide.

The Kemess North (Underground) mineralization, in order of abundance, includes pyrite, chalcopyrite, magnetite, hematite, molybdenite and digenite. Pyrite occurs as microveinlets and disseminations within the gossan zone. Its abundance varies from 0.5 to 10 per cent, and is directly proportional to the intensity of the fracturing and alteration. Economic mineralization consists of chalcopyrite and occurs in northerly trending veinlets, microveinlets, or, more commonly, as disseminations with pyrite, magnetite-hematite. Molybdenite has also been found to be spatially associated with the quartz-sericite-pyrite alteration zone as fracture fillings.

On the Atty property two types of base and/or precious metal vein mineralization are known. Mesothermal base and precious metal veins are found south of Attycelley Creek (see property map). The Awesome showing, an epithermal quartz vein breccia, is situated on a ridgetop north of Attycelley Creek. Geophysical and geochemical data offers strong evidence that a third type, copper-gold porphyry mineralization, may exist on the property.

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