According to Fjordland Exploration Inc. and Cariboo Rose Resources Ltd., 60-per-cent/40-per-cent partners in the Woodjam joint venture (WJV), Gold Fields Ltd.’s exploration company, Gold Fields Horsefly Exploration Corp., has forwarded drilling results from the first seven holes (2,470 metres) of the 2010 campaign on the 13,827-hectare Woodjam South copper-gold-molybdenum property. The property is located 45 kilometres east of Williams Lake in south-central British Columbia.
Hole SE10-01 assayed 0.3 per cent copper, 0.07 gram per tonne gold and 0.006 per cent molybdenum over 400.9 metres. It was collared 200 m south-southwest of hole WJ08-84 which assayed 359.1 m grading 0.69 per cent Cu, 0.27 g/t Au and 0.006 per cent Mo, including 200.8 m grading 1.01 per cent Cu, 0.44 g/t Au and 0.002 per cent Mo.
Two holes (SE10-03 and SE10-05) were lost prematurely due to drilling difficulties. Hole SE10-06 was weakly mineralized with a few narrow intersections grading over 0.13 per cent copper.
Hole SE10-07 was highlighted by a 234.6 m interval grading 0.24 per cent Cu, including 83.6 m grading 0.38 per cent Cu and 0.001 per cent Mo. The hole was terminated in well-mineralized rock and the last 51.6 m averaged 0.45 per cent Cu, 0.05 g/t Au and 0.002 per cent Mo.
The focus of this year’s drilling on the Southeast zone was to expand the limits of the mineralized zone, as suggested by a two km by one km induced polarization anomaly. Wide-spaced drilling of the seven holes reported has now extended the area of mineralization to 1,500 m by 600 m. The new holes include SE10-04 and SE10-07, a 400 m step-out to the south and 280 m step-out to the north from previous drilling, respectively. As with the previous drilling of 18 holes during 2007 to 2008, all holes continue to be mineralized from the overburden/bedrock interface to the bottom of the holes, except for two occurrences of host rock displacement by narrow, younger basalt dikes.
SOUTHEAST ZONE: SUMMARY OF SIGNIFICANT INTERCEPTS Hole ID From (m) To (m) Int (m) Cu% Au g/t Mo% CuEq % SE10-01 104.1 505.0 400.9 0.30 0.07 0.006 0.38 including 104.1 203.0 98.9 0.34 0.13 0.002 0.43 SE10-02 81.4 408.0 326.6 0.10 0.02 0.005 0.14 including 81.4 127.0 45.6 0.18 0.04 0.002 0.21 including 332.0 372.0 40.0 0.10 0.01 0.002 0.20 SE10-04 152.5 325.0 172.5 0.19 0.02 0.001 0.29 including 277.0 293.0 16.0 0.29 0.02 0.004 0.53 SE10-07 176.9 411.6(i) 234.6 0.24 0.03 0.001 0.31 including 328.0 411.6(i) 83.6 0.38 0.04 0.001 0.49 including 360.0 411.6(i) 51.6 0.45 0.04 0.002 0.57 Intervals are core lengths; Cu equivalent in per cent calculated using $2.50 (U.S.)/pound copper, $950 (U.S.)/ounce Au and $15 (U.S.)/pound Mo and the formula ((Cu per cent multiplied by 22 multiplied by price Cu/pound) plus (g/t Au multiplied by 0.03215 multiplied by price Au/ounce) plus (Mo per cent multiplied by 22 multiplied by price Mo/pound)) divided by (price Cu/pound multiplied by 22). (i) End of hole.
Vein, fracture and disseminated porphyry-style mineralization in the Southeast zone, consisting of chalcopyrite, pyrite, molybdenite and trace bornite associated with potassic and phyllic alteration zones, is hosted by the Takomkane quartz monzonite intrusion and related aplite dikes.
Drilling is continuing as part of a planned 5,000 m drilling program. In addition, a planned 75 line km induced polarization geophysical surveying is in progress over the broad, unexplored area lying to the southwest of the Southeast zone. A drill location map may be viewed on-line.
Fjordland president Tom Schroeter said: “The ongoing intersection of continuous copper-gold-molybdenum mineralization in the Southeast zone has significantly increased the size potential of the system. We look forward to building on this size, which remains open laterally in all directions and at depth, as well as determining the grade potential.”
Core samples were analyzed by ALS Chemex Laboratories, a certified facility in Vancouver, B.C. Mr. Schroeter, PEng/PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Woodjam North update
Phase two drilling is under way at the adjoining Woodjam North gold-copper property where approximately 5,000 metres of drilling are planned. Work at Woodjam North also includes a 26 line km induced polarization survey to identify further exploration targets.
