Posts Tagged Woodjam South
Cariboo Rose Resources Announces Ground Added to Woodjam Project, BC
Posted by admin in News Releases, Property Agreements on June 7th, 2011
| Vancouver, BC, Jun 7, 2011 – Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), 40%-60% partners in the Woodjam Joint Venture (”WJV”), and Gold Fields Limited’s (NYSE: GFI) exploration company, Gold Fields Horsefly Exploration Corporation (”Gold Fields”), have signed an option agreement with private vendors for the 625-hectare Magalloy-Magex Property. Magalloy-Magex is located in the Woodjam North Property, currently being explored by Gold Fields under an option agreement with the WJV. The Woodjam North Property is located 45 km east of Williams Lake, in south-central British Columbia. The option agreement was completed to cover prospective ground along an interpreted SW-NE trend of mineralization, which includes the Megabuck and Takom zones on the Woodjam North Property, where significant “porphyry-style” copper and gold mineralization has been identified by drilling.
For the option to acquire a 100% interest in the Magalloy 1-14 and Magex 1-12 mineral claims, Gold Fields, on behalf of the WJV, will make cash payments to the vendors totaling $300,000 over a four-year term and will reserve a 1.5% net smelter royalty for the vendors that may be purchased outright for a cash payment of $1.5 million. The cash payments required to be made shall be attributed to Gold Fields’ earn-in expenditures relating to the Woodjam North option agreement with the WJV. The Magalloy-Magex Property is located 3.5 km to the south-southwest of the Megabuck Zone and 1.0 km to the west of the Takom Zone on the Woodjam North Property. The Magalloy-Magex option is underlain by extensive glacial drift; however, a few exposures of intrusive rocks and Nicola Group volcanic rocks have been mapped. Previous soil, silt and lake geochemical surveys indicate copper and molybdenum anomalies on the Property. Also, a reconnaissance induced polarization (IP) survey, completed in 2008 by the WJV, has outlined a potential 1.2-km southwesterly extension to the large IP chargeability anomaly covering the Takom Zone. The nearest drill hole on the Takom Zone (W07-75), located approximately 350 m east of the Magalloy-Magex Property boundary, returned a 12.3m interval grading 0.13% copper and 0.037g/t gold. The WJV and Gold Fields plan to explore the Magalloy-Magex option during 2011, as part of their aggressive multi-million dollar exploration programs on the Woodjam North and Woodjam South projects. G. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. About Cariboo Rose Resources Limited Cariboo Rose Resources Ltd. is a mineral exploration company with six gold, copper and molybdenum exploration projects in British Columbia and the Yukon. The Woodjam North and Woodjam South properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Cariboo Rose (40%) and Fjordland Exploration Inc. (60%); both properties are now under option to Gold Fields Horsefly Exploration Corporation. Additionally, Cariboo Rose has two other gold-copper exploration projects adjoining the Woodjam Properties, a gold exploration project in the White Gold District of the Yukon, and a copper exploration project south of BC’s Kemess mine. Cariboo Rose trades on the TSX Venture exchange under the symbol “CRB”. For more information please visit the Company’s website at www.cariboorose.com. About Gold Fields Limited Glen Garratt, P.Geo, Director. |
FJORDLAND and CARIBOO ROSE: DRILLING AT WOODJAM SOUTH YIELDS 401 M GRADING 0.30% COPPER AND 0.006% MOLYBDENUM
Posted by admin in Drill Results, News Releases on October 4th, 2010
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.
FJORDLAND EXPLORATION and CARIBOO ROSE: GOLD FIELDS COMMENCES 5000 M DRILLING PROGRAM ON SOUTHEAST ZONE, WOODJAM SOUTH, BRITISH COLUMBIA
Posted by admin in Field Work, News Releases on July 29th, 2010
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.
FJORDLAND EXPLORATION and CARIBOO ROSE: WOODJAM NORTH; DRILLING AT DEERHORN ZONE YIELDS 115.9 M GRADING 0.287G/T GOLD AND 0.321% COPPER
Posted by admin in Drill Results, News Releases on July 27th, 2010
Fjordland Exploration Inc. and Cariboo Rose Resources Ltd., 60-40 partners in the Woodjam joint venture, have received Gold Fields Ltd.’s Gold Fields Horsefly Exploration Corp.’s drilling results from the Woodjam North gold-copper property. Drilling on the property, which is located 45 kilometres east of Williams Lake in south-central British Columbia, started earlier this year. Phase one drilling between February and June, 2010, totalled 8,433 metres in 34 holes, including 2,330 m in the Takom zone, 3,921 m in the Deerhorn zone and 2,182 m in the Spellbound area. The results reported in the table are for the last four holes (1,197.6 m) in Deerhorn and eight holes (2,182 m) in Spellbound.
Deerhorn zone
Assay results for the four new holes completed in 2010 are reported in the table.
From To Interval Au Cu Au equivalent Hole (m) (m) (m) (g/t) (%) (g/t) Deerhorn DH10-13 75.3 84.0 8.7 0.11 0.23 0.52 DH10-13 88.0 92.0 4.0 0.22 0.06 0.33 DH10-13 96.0 148.0 52.0 0.08 0.22 0.47 DH10-13 152.0 163.4 11.4 0.06 0.14 0.31 DH10-13 208.0 217.0 9.0 0.06 0.11 0.26 DH10-14 78.0 84.0 6.0 0.07 0.12 0.29 DH10-14 110.3 226.2 115.9 0.29 0.32 0.87 DH10-15 82.0 141.3 59.3 0.14 0.15 0.42 DH10-15 200.0 226.0 26.0 0.17 0.16 0.46 DH10-16 39.0 60.0 21.0 0.27 0.16 0.55 DH10-16 124.0 184.6 60.6 0.35 0.22 0.75 Spellbound SB10-04 51.0 55.0 4.0 0.08 0.12 0.30 SB10-09 28.0 36.0 8.0 0.18 0.16 0.47 SB10-09 110.0 119.0 9.0 0.03 0.17 0.33 SB10-10 5.3 13.0 7.7 0.28 0.34 0.89 SB10-10 17.0 23.0 6.0 0.07 0.09 0.24 SB10-10 35.0 68.2 33.2 0.10 0.15 0.37 SB10-10 257.0 272.0 15.0 1.01 0.004 1.02 Note: Intervals are core lengths. Au equivalent in grams per tonne is calculated using $950 (U.S.) per ounce Au and $2.50 (U.S.) per pound Cu. Metallurgical recoveries and net smelter returns are not considered.
These four holes were drilled to test the possible geometry of the mineralized zone in the area around hole DH10-09, which assayed 90.8 metres grading 0.58 gram per tonne Au and 0.39 per cent Cu, including 30.4 m grading 1.01 g/t Au and 0.72 per cent Cu. All four holes intersected mineralization. DH10-14 yielded 115.9 m grading 0.287 g/t Au and 0.32 per cent Cu. This hole was lost in mineralization at 226 m. The last two m graded 0.6 g/t Au and 0.28 per cent Cu. Additional step-out holes are planned to further test the zone. A drill location map may be viewed at Fjordland’s website.
Spellbound area
Reconnaisance drilling of eight (of 11) holes (totalling 2,182 m) which reached their targets in the Spellbound area, targeting coincident copper and molybdenum soil anomalies, resulted in the discovery of gold-copper mineralization over a large area located to the east of the Deerhorn zone and to the north of the Southeast zone. Three assay intervals greater than 0.24 g/t gold equivalent are reported in the table.
The best results from Spellbound are from SB10-10, located in the southern part of the Woodjam North property, approximately 1.5 km north of the Southeast zone on the Woodjam South property. Intersections included 33.2 m grading 0.103 g/t Au and 0.148 per cent Cu as well as 15 m grading 1.014 g/t Au and 0.006 per cent Cu. These intersections occur within broader zones of mineralized Takomkane quartz monzonite containing fine disseminated chalcopyrite, rare molybdenite and bornite in quartz veinlets. The zone remains prospective with a strong affinity to the style of mineralization encountered in the Southeast zone. Additional induced polarization, ground magnetic and soil sampling surveys are in progress. Follow-up drilling is planned. A drill location map may be viewed at the Fjordland’s website.
Fjordland’s president, Tom Schroeter, said: “These new drill results from the Deerhorn zone and the discovery of mineralization in the Spellbound area on the Woodjam North property provide a great platform for follow-up drilling in our phase two drilling program (5,000 m planned) which has started on the Takom zone and will be followed by drilling on the Deerhorn zone, the Spellbound area and initial holes on the Corner Lake area north of the Deerhorn zone.”
Mr. Schroeter, PEng, PGeo, is a qualified person within the context of National Instrument 43-101. He has read and takes responsibility for this news release.
Gold Fields Doubles Drilling Plans at Woodjam North, B.C.
Posted by admin in Corporate Updates, News Releases on March 2nd, 2010
Cariboo Rose Resources and Fjordland Exploration, the Woodjam Joint Venture (’WJV’) 40%/60% partners, have been informed by Gold Fields Horsefly Exploration Corporation (a member of the Gold Fields Limited group of companies (NYSE: GFI)) that it has recently decided to increase its planned winter drilling program, which resumed on February 10, 2010, to 7,000 metres. The 12-month program which began in July, 2009 is budgeted at $3 million.
Gold Fields now plans to drill several additional holes tracing the northeasterly mineralized trend in the Takom Zone, as previously described. The drill will then move onto the Deerhorn Zone and Spellbound Area, as reported earlier.
Tom Schroeter, President of Fjordland commented, ”The WJV is pleased with Gold Fields’ recent decision to significantly expand the winter drilling program. We look forward to receiving results of the drilling program over the next several months and reporting on them in a timely manner.
G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Fjordland Stakes Moffat Property Near Woodjam
Posted by admin in News Releases, Property Agreements on September 18th, 2009
Fjordland Exploration has acquired a 100-per-cent interest in 11 new claims totalling 4,548 hectares (Moffat property), about 30 kilometres south of Horsefly in central British Columbia. The new property is situated approximately six kilometres south of the Woodjam joint venture’s (60 per cent Fjordland and 40 per cent Cariboo Rose Resources Ltd.) newly discovered Southeast zone copper-molybdenum-gold mineralization on its recently expanded “Woodjam South” property (13,388 hectares), where drilling of hole WJ-08-84 in 2008 intercepted 201 metres grading 1.01 per cent copper and 0.44 gram per tonne gold. The Moffat property adjoins part of the Woodjam South property to the south (a map of the property will be available shortly on the company’s website).
The acquisitions were completed to cover prospective ground in an area covered by extensive overburden, but interpreted to cover a geological contact zone between alkalic and calcalkalic intrusive bodies, which are known locally to host significant quantities of gold-copper-molybdenum porphyry-style mineralization.
Fjordland acquired nine of the claims that comprise the Moffat property by staking. For a 100-per-cent ownership in two additional claims totalling 869.7 hectares, Fjordland will pay to John Peters, a consultant to the company, $349.25 to cover the cost of staking and issue 20,000 shares of Fjordland Exploration, subject to approval of the TSX Venture Exchange.
The Moffat property includes the Harrison Creek occurrence which was discovered by the B.C. Geological Survey Branch (GSB) during its 2008 mapping program. The occurrence was exposed as a result of 2008 logging, and comprises pyrite, chalcopyrite, magnetite and malachite within and along quartz-epidote-potash feldspar veins that cut monzodiorite. A grab sample of this mineralized vein material, taken by the GSB, returned 1,671 parts per million copper, 1,432 parts per million silver and 105 parts per billion gold. During a recent visit to the area, Fjordland geologists noted areas of extensive 2009 logging activities that have exposed numerous new outcrops of a similar geological nature as noted above. The company is looking forward to conducting follow-up work.
Cariboo Rose, Fjordland and Gold Fields Execute Definitive Agreement on Woodjam “North” Gold-Copper Project, British Columbia
Posted by admin in Corporate Updates, Field Work, News Releases, Property Agreements on July 30th, 2009
Cariboo Rose Resources and Fjordland Exploration report that the Woodjam Joint Venture (WJV), comprising Fjordland (60%) and Cariboo Rose (40%), has signed an Option and Joint Venture Exploration Agreement granting an option to Gold Fields Horsefly Exploration Corporation, a member of the Gold Fields Limited group of companies (NYSE: GFI), to earn up to a 70% interest in the northern portion of the Woodjam gold-copper property (Woodjam North Property). Gold Fields may earn an initial 51% interest by expending $7 million in exploration, and making $350,000 in cash payments to the WJV, over a three year period with a minimum expenditure of $1 million in the first year. Gold Fields may extend the option to earn a further 19% interest in the Woodjam North property by funding a further $12 million in exploration over a 4-year period (see CRB/FEX News Release, June 3, 2009 for further details).
To date, the WJV has spent approximately $7 million on the entire Woodjam property, including an estimated $4.7 million and $2.3 million on the Woodjam “North” and “South” Properties, respectively. The “North” Property (40,500 hectares) includes the Megabuck, Takom and Deerhorn zones; the “South” Property (7,500 hectares) includes the newly-discovered Southeast Zone.
The first year program, with a budget of about $3 million proposed by Gold Fields, consists of the following:
- A low-level airborne magnetic and radiometrics geophysical survey covering the entire area of the claim block.
- Grid-based line cutting and induced polarization geophysics focused on selected targets.
- Following data compilation and interpretation, a core drilling program of up to 6,000 metres is planned that will initially focus within the areas of known mineralization. Additional drill locations will be dependent on the compilation of geology, airborne-magnetic and IP results.
- Gold Fields has had crews on the Property for the past several weeks reviewing previous drill core, collecting soil samples and conducting geological mapping and prospecting programs.
The exploration program is managed and financed by Gold Fields Horsefly Exploration Corp. Gold Fields has recently appointed David Bailey, P.Geo, Ph.D., as Manager of the Woodjam North project. Dr. Bailey is a recognized expert in the Quesnel Terrane rocks in British Columbia.
The Property is road accessible and located in south-central British Columbia, 45 km east of Williams Lake; a regional centre for forestry, exploration, cattle ranching, tourism and two operating copper-gold-molybdenum mines (Mt. Polley and Gibraltar). Previous drilling on the Woodjam North Property totals approximately 21,260 metres in 91 holes. At the Megabuck deposit, 67 holes totaling 17,236 metres have been drilled defining a 200 metre wide, moderately plunging, mineralized envelope. Hole 04-32 assayed 1.03 g/t Au and 0.14% Cu over 274.9 metres. Gold-copper mineralization consists of quartz-chalcopyrite-magnetite stockwork veins in sub-alkaline monzonitic intrusions which are hosted by volcaniclastic and sedimentary rocks of Late Triassic to Early Jurassic age.
The Takom Zone, located 2.1 km south of the Megabuck Zone, has seen a limited amount of previous drilling (18 holes totaling 3,366 metres) mostly to shallow depths. Successive drilling programs have returned progressively better results; the highest grade and most northerly hole assayed 0.40 g/t Au and 0.26% Cu over 127.3 metres, including 32.8 metres grading 1.04 g/t Au and 0.45% Cu.
The Deerhorn Zone, located 800 metres to the northeast of the Megabuck Zone, was discovered in September, 2008, as a result of a 2-hole drilling program testing a large IP anomaly. Both holes, located 100 metres apart, intersected strong gold-copper mineralization near the overburden/bedrock interface. The second of the two holes included an intercept of 0.62 g/t Au and 0.25% Cu over 51 metres. Deerhorn is thought to be a very significant discovery due to its similar character and spatial association to the Megabuck area.
The Woodjam Joint Venture (WJV) retains the Woodjam South property, including the recently discovered Southeast Zone copper-gold-molybdenum occurrence where the WJV has completed 18 drill holes totaling 7,700 metres, all of which are mineralized from the bedrock interface to the bottoms of the holes. Hole 08-84 assayed 0.69% Cu, 0.27 g/t Au and 0.006% Mo over 359.1 metres, including 1.01% Cu and 0.44 g/t Au over 200.8 metres. Less than one quarter of the 1.5 km by 1.0 km induced polarization anomaly has been tested. The WJV intends to extend Gold Fields’ airborne geophysical survey to cover the Woodjam South property. The WJV will be planning a program on the Woodjam South Property to evaluate these claims, most of which have not seen modern exploration, and to advance the Southeast Zone.
G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Gold Fields Options Woodjam “North” Gold-Copper Project; Woodjam “South” Covering Southeast Copper-Gold-Molybdenum Zone Excluded
Posted by admin in News Releases, Property Agreements on June 3rd, 2009
Cariboo Rose Resources is pleased to report that the Woodjam Joint Venture, comprising Fjordland Exploration (60%) and Cariboo Rose (40%), has signed a Letter Agreement granting an option to Gold Fields Netherlands Services BV, a member of the Gold Fields Limited group of companies (NYSE: GFI), to earn up to a 70% interest in a portion of the Woodjam gold-copper property, referred to as Woodjam North. This Letter Agreement is subject to a due diligence period of 35 days.
Located in south-central British Columbia, 45 km east of the city of Williams Lake, the Woodjam North property includes the Megabuck, Takom and Deerhorn zones and a large tract of claims to the north, east and west of those targets (in total an area of 40,500 hectares). The option excludes the newly-discovered Southeast copper-gold-molybdenum zone, as well as claims to the south and southwest (in total an area of 7,500 hectares).
Gold Fields may earn an initial 51% interest by expending C$7.0 million in exploration, and making $350,000 in cash payments to the Joint Venture, over a three year period with a minimum expenditure of $1.0 million in the first year. Gold Fields may extend the option to earn a further 19% interest in the Woodjam North property by funding a further C$12.0 million in exploration over a 4-year period. Should Gold Fields elect not to extend the option, then the Woodjam Joint Venture (Fjordland/Cariboo Rose) will have the right to make an offer for Gold Fields’ 51% interest and if it is not accepted it then will have the right of first refusal on any offers to acquire Gold Fields’ vested 51% interest.
The Woodjam Joint Venture is very pleased to have Gold Fields as a partner in exploring the gold-rich porphyry systems at Woodjam and to benefit from its expertise in gold exploration. Fjordland President, Tom Schroeter stated, “This partnership with one of the world’s largest gold producers not only allows for aggressive advancement of the gold-dominant property, but also allows the Woodjam Joint Venture to independently explore and develop the very exciting Southeast Zone copper-gold-molybdenum discovery and pursue new target development on the ‘Woodjam South’ portion of the Property”.
G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Cariboo Rose Corporate Update
Posted by admin in Corporate Updates, News Releases on March 19th, 2009
Cariboo Rose Resources Ltd. has provided a general update and overview of plans for 2009. The company remains well financed with no debt and a working capital position of approximately $750,000. The strategic objective for Cariboo Rose is to generate projects — a proven model for reducing risk and dilution to shareholders as option partners are responsible for funding the majority of projects at the earlier and higher risk phases.
The Woodjam copper-gold-molybdenum project is in south-central British Columbia approximately 50 kilometres east of Williams Lake. The project is a joint venture between Fjordland Exploration Inc. with a 60-per-cent interest and Cariboo Rose with a 40-per-cent interest. The landholdings are extensive and measure up to 40 kilometres east-west and 30 kilometres north-south encompassing approximately 48,000 hectares. Mineralization at Woodjam is associated with alkalic intrusions occurring within Quesnel Terrane rocks and spatially associated with the slightly younger Takomkame calc-alkaline batholith. This setting and age date of mineralization of Aplus or minus 197 million years for the Southeast zone are similar to that at the operating Highland copper mine, owned by Teck Ltd. Four zones of porphyry-style mineralization have now been identified at Woodjam in the Megabuck, Takom, Deerhorn and Southeast zones. The Southeast zone and the Deerhorn zone are recent discoveries made in 2007 and 2008 respectively. In 2007, the Southeast zone was discovered beneath a deep accumulation of glacial till and lacustrine sediments with hole 07-79 intersecting 208 metres of copper-gold-molybdenum mineralization averaging 0.34 per cent copper, 0.047 gram per tonne gold and 0.014 per cent molybdenum. In 2008 an additional 14 diamond drill holes were completed in the Southeast zone bringing the cumulate drilling (from and including 07-79) to 6,350 metres with higher grade intercepts averaging 0.42 per cent copper, 0.095 g/t gold and 0.010 per cent molybdenum over an average width of 159 metres. The zone remains open in all directions and to depth with mineralization averaging 0.17 per cent copper, 0.031 gram per tonne gold and 0.015 per cent molybdenum at the bottom of the hole. The most significant intercept in 2008 included hole 08-84 with 1.01 per cent copper, 0.44 gram per tonne gold and 0.002 per cent molybdenum over 201 metres. Four holes totalling 959 metres were drilled in 2008 outside the area of the Southeast zone. Results of these holes included hole 08-87 with 0.34 per cent copper and 0.60 gram per tonne gold over 72 metres in the Takom zone and hole 08-93 with 0.25 per cent copper and 0.62 gram per tonne gold over 51 metres in the newly discovered Deerhorn zone.
The Cowtrail property in the Cariboo mining district, adjacent and to the north of the company’s Woodjam property and 25 kilometres southeast of the Mt. Polley mine is under option to Dajin Resources Corp., which may earn a 65-per-cent interest in the property. Dajin will be continuing with the exploration and development of the Cowtrail property. Dajin in 2006 completed a geophysical survey, and in 2007, drilled six holes in selected induced-polarization-chargeability-anomalies located on the periphery of a magnetic intrusive body. One of the holes drilled in 2007 intersected 1.16 grams per tonne gold over 18.3 metres, a new discovery, indicating that there is potential on the property for gold-rich, porphyry-style-mineralization.
The Carruthers Pass copper-zinc-silver property is in north-central British Columbia, approximately 70 kilometres south of the Kemess gold-copper mine and 200 kilometres north of Smithers. It is under option to Hawthorne Gold Corp., who may earn a 60-per-cent interest in the property. A block of massive sulphide with significant values in copper, zinc, silver and gold was discovered protruding from a talus apron on the property by Phelps Dodge Canada. Hawthorne Gold conducted a program at Carruthers Pass in the summer of 2008 to follow up on the source of this boulder with results still pending.
The Pat property in the Cariboo Mining district, adjacent to the company’s Woodjam property, was recently optioned to Astorius Resources Ltd. by way of an assignment from Alder Resources Ltd. A revised National Instrument 43-101 report which recommended a drill program with a budget of $258,000 has been approved by the TSX Venture Exchange. The option agreement between Cariboo Rose and Astorius requires a minimum expenditure of $100,000 before Sept. 30, 2009. The Pat property is in the Cariboo region of south-central British Columbia approximately 50 kilometres southeast of the operating Mount Polley mine, owned by Imperial Metals Corp. The Pat claims cover a porphyry copper-gold target centred on a strong airborne magnetic anomaly similar in size and intensity to that at Mt. Polley and to a peripheral-induced-polarization-anomaly defined by Cominco Ltd. in 1991.
The Canadian Creek copper-gold-molybdenum property in the Yukon, approximately 300 kilometres northwest of Whitehorse and 160 kilometres south of Dawson City. This property, which has the potential to host a porphyry-style or an intrusion-related deposit, is located to the immediate west of and adjacent to Western Copper Corp.’s Casino deposit. Previous drill highlights on the Canadian Creek property include 150 metres grading 0.49 gram per tonne gold and 26 metres grading 1.04 grams per tonne gold. Cariboo Rose owns a 100-per-cent interest in most of the Canadian Creek project and has, with various partners, spent in excess of $2-million with $448,000 in 2007.
Bill Morton, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Cariboo Rose and Fjordland Drill Results from Woodjam Southeast Zone Returns 0.69% Copper and 0.27 g/t Gold over 359.12 Metres, New Mineralization Discovered
Posted by admin in Drill Results, News Releases on January 5th, 2009
Cariboo Rose Resources Ltd. (40 per cent) and Fjordland Exploration Inc. (60 per cent) has received the results of eight drill holes completed in October and November at the Woodjam joint venture property in central British Columbia. During 2008, approximately 7,700 metres in 18 holes were completed. Drill hole WJ-08-84, in the Southeast zone, was deepened from 356.01 m to 485.0 m with the entire hole now returning 0.69 per cent copper and 0.27 gram per tonne gold over 359.12 metres and was still in mineralization at the bottom of the hole.
Three additional holes were completed in the Southeast zone, one hole was drilled in the Takom zone, two holes were completed in the newly discovered Deerhorn target and a reconnaissance hole was drilled in the East Megabuck target. The Deerhorn and Takom holes are located approximately four kilometres north and 2.5 kilometres west of the Southeast zone, respectively.
Tom Schroeter, president of Fjordland, commented: “This has been an extremely successful year exploring the Woodjam property and the results have again bolstered our belief that this is a large copper-gold-molybdenum district. We are continuing to discover new mineralized areas with every campaign and look forward to advancing all four target areas in the new year.”
The four holes drilled in the Southeast zone continued to expand the copper-gold-molybdenum mineralization, where all 18 holes completed to date in the target are mineralized from the bedrock interface to the bottom of the holes. Drilling at 100 m or closer spacing now covers an area of approximately 300 m by 600 m and the mineralization is open for extensions in all directions including to depth. Less than one-fifth of the 1.0 by 1.5 km IP chargeability high anomaly has been drill tested.
Hole WJ-08-87 was completed in the Takom zone and represents the best grade intercept for this zone to date, returning 127.28 m of 0.26 per cent copper and 0.40 g/t gold and including 32.80 m grading 0.45 per cent copper and 1.04 g/t gold. This hole appears to indicate a zone of mineralization with a northerly trend extending from previously drilled holes WJ-05-48 and WJ-07-77. The mineralization here is displaying similar copper-gold ratios to the Megabuck zone which commonly grades 1.0 g/t gold. This is the first time that drilling in the 3.0 km long Takom IP geophysical anomaly has indicated a well-mineralized zone.
Two holes, WJ-08-92 and 93, drilled in the Deerhorn IP chargeability/magnetic geophysical target, resulted in the discovery of a new mineralized area. Hole 92 intersected 236.22 m grading 0.10 per cent copper and 0.13 g/t gold, including 28.52 m grading 0.21 per cent copper and 0.54 g/t gold. Hole 93 intersected 68.97 m grading 0.22 per cent copper and 0.50 g/t gold, including 15 m grading 0.32 per cent copper and 0.87 g/t gold. The holes were drilled along the edge of the anomaly and intersected quartz-chalcopyrite-magnetite stockworks carrying significant gold values, similar in character to the Megabuck zone. The geophysical anomaly measures approximately 400 m by 800 m and this was the first time it has been tested.
A reconnaissance hole, WJ-08-94, was completed south of the Deerhorn target and approximately 1.5 km northeast of the Megabuck zone. This hole was anomalous in copper from the bedrock interface to the bottom of the hole. Two narrow intercepts (at 31.00 m and 196.00 m) carrying anomalous gold values are associated with quartz-tourmaline veining which is commonly occur in close proximity to mineralized zones. A large area of anomalous chargeability lies to the southwest of this hole and has not yet been drill tested.
Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, B.C., using multielement (ICP-ES) two-acid digestion (1-D) procedures, with gold and silver values determined using fire assay procedures. Reanalyses of samples assaying in excess of 10,000 parts per million copper were performed by ICP-ES four-acid digestion (7-AR) procedures. External standards were inserted into the sample sequence at a ratio of approximately one standard per 25 samples.
Cariboo Stock Quotes
CRB.V 0.13 +0.00
FEX.V 0.07 +0.00
III.TO 15.72 +0.08
TKO.TO 3.59 +0.01
VHV.V 0.00 +0.00
SPA.V 0.62 -0.03
ETF.V 0.13 +0.00
TIX.V 0.08 +0.00
WYG.V 0.00 +0.00
CDO.V 0.04 +0.00
HGC.V 0.00 +0.00
ASQ.V 0.20 +0.00
NMG.V 0.02 +0.00
BML.V 0.04 -0.01
HPY.V 0.26 +0.00
JLR.P.V 0.00 +0.00
EUK.V 0.08 +0.00
DJI.V 0.07 +0.00
AKV.V 0.03 +0.00
GWQ.V 0.34 +0.01
2012-02-02 09:46
