Fjordland Exploration Inc. and Cariboo Rose Resources Ltd., 60-40 partners in the Woodjam joint venture, have received an update from Gold Fields Ltd.’s exploration company, Gold Fields Horsefly Exploration Corp., on its work on the Woodjam South property. The commencement date for the agreement was July 2, 2010. Drilling started on July 6, 2010, part of a 5,000-metre planned program.
Located in south-central British Columbia, 45 kilometres east of the city of Williams Lake, the 13,827-hectare Woodjam South property contains the Southeast zone copper-gold-molybdenum mineralization discovered by the WJV in 2007. To date the WJV has completed 18 diamond drill holes totalling 7,700 metres in the Southeast zone, all of which are mineralized from the overburden/bedrock interface to the bottom of the holes. One of these holes (WJ08-84) averaged 0.69 per cent Cu, 0.27 gram per tonne Au and 0.006 per cent Mo over 359.1 metres, including 1.01 per cent Cu and 0.44 g/t Au over 200.8 m. Less than one-quarter of the two km by one km wide induced polarization anomaly has been tested. In addition, an airborne magnetometer survey completed in 2009 identified several additional targets on the Woodjam South property; these will be followed up.
The planned drilling in the immediate area of the previous drilling will test for lateral and depth extensions of the copper-gold-molybdenum mineralization of the Southeast zone. Elsewhere on the Woodjam South property, a program of induced polarization and ground magnetic surveying will be completed over prospective target areas, identified as a result of the 2009 airborne magnetometer survey over the property.
Fjordland president Tom Schroeter said: “After a year hiatus from drilling on the significant Southeast zone discovery, due to depressed economic and market conditions during 2008 to 2009, we are very pleased to have a company with Gold Fields’ credentials mount the beginning of a major exploration drilling program to define a resource for the zone, as well as testing the rest of the property which hosts several airborne magnetic anomalies. We believe that the size of the mineralized body will increase significantly as a result of this year’s drilling.”
Mr. Schroeter, PEng/PGeo, a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
