Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Finlay Minerals (TSXV: FYL) has released results of the 2024 drilling and surface exploration work on the PIL property. Cascadia Minerals is conducting the work under option to earn a 70% interest.
The PIL property is in the heart of the Toodoggone mining district of British Columbia. It contains several mineralization types including epithermal gold-silver, porphyry copper-gold-molybdenum and skarn gold.
Cascadia completed two diamond drill holes totaling 1,759 metres at the PIL South target and a property-wide prospecting program evaluating under explored areas. Drilling at PIL South returned broad intervals of low-grade copper, gold, silver, molybdenum and zinc mineralization, with copper-gold grades increasing towards the bottom of both holes.
PILS-24-006 returned 162 metres of 0.10% copper with 0.05 g/t gold, 7 g/t silver and 0.18% zinc from 749 metres, including 1.65 metres of 1.34% copper with 0.63 g/t gold and 195 g/t silver.
Prospecting identified the Zeus target: a new high-grade copper-gold zone across a 400 x 300 metres area and a 100-metre vertical extent; highlight vein samples from Zeus include 12.25% copper with 0.26 g/t gold and 329 g/t silver, and 7.13% copper with 0.29 g/t gold and 247 g/t silver.
Prospecting at the undrilled Ben showing, 2.5 km northwest of Zeus, identified a new 300-metre-long zone of copper-silver mineralization, with a highlight sample returning 10.90% copper with 39.50 g/t gold and 2,680 g/t silver from outcrop.
Prospecting on a ridge-top 500 metres east of the Atlas target returned high-grade mineralization over 100 metres, including 5.64% copper, 0.11 g/t gold and 337 g/t silver.
Finlay Minerals said that Cascadia has met its Year 3 exploration work requirements and the PIL option agreement remains in good standing.
