Finlay Minerals has announced its acquisition of the SAY Property, a promising copper and silver prospect situated 140km north of Smithers in British Columbia, Canada, from Electrum Resources.
According to the agreement, Finlay will pay C$50,000 ($36,530) to secure full ownership of the SAY Property, which encompasses 10,587 hectares. Additionally, the property currently carries a 1.5% net smelter return royalty held by Electrum Resources, which Finlay retains the option to repurchase half of for C$1.5 million.
Upon completion of the feasibility study for the SAY Property, Finlay has committed to making a further payment of C$300,000 to Electrum.
The SAY Property is renowned for its high-grade copper (Cu) ± silver (Ag) and molybdenum-copper mineralization, focusing on two primary target zones: Spur and Shel. These areas are situated within the Bear Lake Corridor of the Stikine Terrane, an area historically underexplored but noted for several volcanic redbed/sediment-hosted Cu ± Ag showings.
Robert F Brown, President and CEO of Finlay Minerals, emphasized the significance of the acquisition, stating, “Initial rock sampling along the open-ended, and largely unexplored, Spur Target Area has revealed high-grade copper-silver values associated with regional structures and a magnetic-high trend. The Spur Trend, combined with the Shel porphyry copper mineralization, positions the SAY Property as a highly promising exploration project within the prolific Stikine Terrane of northern British Columbia.”
Brown further expressed Finlay’s anticipation for upcoming exploration activities, aiming to evaluate existing prospects and identify new targets.
This transaction remains subject to approval from the TSX Venture Exchange.
The SAY Property occupies a strategically positioned yet underexplored region within the Stikine Terrane, nestled between the Toodoggone District and the Skeena Arch.
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