• Finlay Minerals (TSXV:FYL) has announced a drilling program has begun at the PIL Property in British Columbia
  • Its partner, Cascadia Minerals will be conducting the exploration
  • Cascadia is a newly formed spinout company from the merger between ATAC Resources and Hecla Mining Company
  • Shares of Finlay Minerals are unchanged at C$0.03

Finlay Minerals (TSXV:FYL) has announced a drilling program has begun at the PIL Property in British Columbia.

In a news release, the company said its partner, Cascadia Minerals, will be conducting the exploration activities.

Cascadia Minerals was formed out of a merger between ATAC Resources Ltd. and Hecla Mining Company. ATAC Resources was the original PIL Property optionee.

Located in the Toodoggone mining district of north-central British Columbia, the PIL Property is host to multiple porphyry copper-gold and vein-related gold-silver targets.

The property is also neighboured by TDG Gold Corporation’s Shasta Property, Canasil Resource’s Brenda Property, AMARC Resource’s/Freeport McMoRan’s joint ventured Joy Property and Skeena Resource’s Sofia Property.

Earlier in August, Cascadia Minerals announced a raise of C$2 million in funding in order to support geophysical surveys, prospecting and mapping at the PIL Property and to prioritize targets for drilling in 2024.

Cascadia Minerals also has the option to acquire a 70 per cent interest in the property by making cash payments of $650,000 and share payments having an aggregate cash equivalent value of $1.25 million and incurring an aggregate of $12 million in exploration expenditures in staged amounts by the end of 2026.

Join the discussion: Find out what everybody’s saying about this stock on the Finlay Minerals Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

More From The Market Online

Healwell AI reduces radiation burden for cancer patients

Pentavere, a subsidiary of Healwell AI (TSX:AIDX), announces new research accepted at two medical conferences.

@ the Bell: TSX rallies back

Canadian stock indices rallied on Monday to bring the TSX to a higher close after a few lacklustre performances

Shopify and Target stocks rise on retail partnership

Target (NYSE:TGT) teams up with Shopify (TSX:SHOP) to offer a selection of its popular merchants and their products on Target Plus.