🕐05.07.11 - 17:27 Uhr
FJORDLAND: DRILLING AT WOODJAM SOUTH YIELDS 264 M GRADING 0.41% COPPER, 0.12 G/T
GOLD AND 0.01% MOLYBDENUM
Fjordland Exploration Inc.
1111 Melville Street, Suite 1100
Vancouver, BC V6E 3V6
Tel: 604-893-8365
www.fjordlandex.com
NEWS RELEASE
Drilling at Woodjam South (Southeast Zone) Yields 264 m Grading 0.41%
Copper, 0.12 g/t Gold and 0.01% Molybdenum
Vancouver, BC, July 5, 2011 - Fjordland Exploration Inc.
(TSX-V:
FEX) and Cariboo Rose Resources
Ltd.
(TSX-V: CRB), 60%-40%
partners in the Woodjam Joint Venture ("WJV"), report that Gold Fields
Limiteds (NYSE: GFI) exploration
company, Gold Fields Horsefly Exploration Corporation ("Gold Fields"), has
forwarded drill results from six new holes (2,434 m) of the 2011 infill and
expansion diamond drilling program, testing a previously defined core area
of mineralization measuring 800 m by 630 m on the Southeast Zone of the
Woodjam South copper-gold-molybdenum property.
The Property is located 45
km east of Williams Lake in south-central British Columbia.
To date, 22 holes totaling more than 9,000 metres (m) have been completed in
the 2011 program; further results will be reported in batches when received.
A drill location map may be viewed at
www.fjordlandex.com/news/nr11-14b.pdf.
Southeast Zone Drilling:
Hole ID
>From (m)
To (m)
Int.
(m)
Cu%
Au g/t
Mo%
Cu Eq %
SE11-27
115.8
401.1*
285.3
0.33
0.09
0.005
0.40
Including
115.8
234.0
118.2
0.52
0.16
0.005
0.64
SE11-28
88.4
478.5*
390.1
0.31
0.10
0.008
0.41
Including
88.4
144.0
55.6
0.53
0.34
0.000
0.71
Including
378.0
463.0
85.0
0.31
0.06
0.02
0.47
SE11-29
140.2
404.2*
264.0
0.41
0.12
0.010
0.53
Including
238.0
278.0
40.0
0.56
0.13
0.027
0.80
Including
322.0
357.7
35.7
0.83
0.30
0.000
1.02
SE11-31
106.9
416.4*
309.5
0.34
0.05
0.012
0.44
Including
106.9
243.1
136.2
0.38
0.06
0.011
0.48
SE11-32
158.5
440.7*
282.2
0.41
0.06
0.015
0.53
Including
412.0
440.7*
28.7
0.73
0.08
0.013
0.85
SE11-33
121.9
293.2*
171.3
0.49
0.08
0.004
0.56
Including
173.0
285.0
112.0
0.55
0.08
0.005
0.63
Table Notes: Intervals are core lengths; Cu Equivalent in % calculated using
US$2.50/lb Cu, US$950/oz Au and US$15/lb Mo and the formula: ((%Cu x 22 x
Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz) + (%Mo x 22 x Price
Mo/lb))/(Price Cu/lb x 22).
* = end of hole.
Metallurgical recoveries and
net smelter returns are not considered.
Hole SE11-27 was collared between holes WJ08-83, WJ08-84 and SE11-26 in an
area of an interpreted high-grade core of mineralization.
Copper-gold-molybdenum mineralization was intersected from the top of the
bedrock to the end of the hole at 401.1 m.
A 25.8-m non-mineralized
plagioclase porphyry dyke occurs between 276.5 and 302.3 m.
Hole WJ08-84,
located 60 m to the southwest of SE11-27 assayed 0.69% Cu, 0.26 g/t Au and
0.006% Mo, including 1.01% Cu, 0.44 g/t Au and 0.002% Mo over 200.8 m.
Hole SE11-28 was collared between holes WJ08-86 and SE10-01, south of a
trend of higher grade mineralization previously defined by drilling, and
encountered copper-molybdenum mineralization from the top of the bedrock to
the end of the hole at 478.5 m.
Hole SE11-29 was collared between WJ08-83 and WJ08-96 confirming an area of
higher grade core of mineralization.
Copper-gold-molybdenum mineralization
was intersected from the top of the bedrock to the bottom of the hole at
404.2 m.
A 9.9-m plagioclase porphyry dyke occurs between 290.5 and 300.5 m.
Hole SE11-31 was collared approximately 70 m northeast of hole WJ08-83,
along strike to the northeast of the higher-grade core zone.
Copper-gold-molybdenum mineralization was intersected from the bedrock to
the end of the hole at 416.4 m.
Hole SE11-32 was collared approximately 60 m to the northeast of SE11-23,
immediately west of an area of interpreted higher grade mineralization.
Copper-molybdenum mineralization was intersected from the bedrock to the end
of the hole at 440.7 m.
A 19.7-m basalt dyke occurs between 392.4 and 412 m.
Hole SE11-33 was collared approximately 140 m northeast of SE10-14, along
the interpreted northern portion of the higher-grade core area.
Copper-molybdenum mineralization was intersected from the bedrock to the end
of the hole at 293.2 m.
The hole was lost in bad ground, between 100 and 150
m above the target depth.
Assay results for holes SE11-23, SE11-25 and SE11-30 have not yet been
approved under the projects strict quality control/quality assurance
procedures.
All 49 drill holes reported on the Southeast Zone to date are mineralized
from the overburden/bedrock interface to the bottoms of the holes.
The
current drilling program is testing mineralization to depths of about 400 m;
however, the deepest hole to date (WJ08-82) is just over 700 m and ended in
mineralization.
One drill has moved to begin infill and expansion drilling
on the northern portion of the core area; the second drill will move to the
north after completing a further six holes on the southern portion.
Fjordland President Tom Schroeter says: "Assay results from this batch of
holes are very encouraging and appear to have expanded the core area of
copper and gold mineralization, flanked by copper-molybdenum mineralization
in the southern portion.
We look forward to testing the northern portion."
Core samples were analyzed by ALS Laboratory Group, a certified facility in
North Vancouver, BC.
Tom Schroeter, P.Eng./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 Fjordland Exploration Inc.
Fjordland Exploration is a mineral exploration company focused on the
discovery of gold, copper and molybdenum deposits in British Columbia.
Of
the 28 properties Fjordland owns, the Woodjam North and Woodjam South
properties (totaling 56,150 ha) are part of the Woodjam Joint Venture
between Fjordland (60%) and Cariboo Rose Resources Ltd (40%); both
properties are under separate option agreements to Gold Fields Horsefly
Exploration Corporation.
Fjordland also has a 100% interest in 7 properties
known as "Tak" totaling 52,342 ha in the Woodjam area.
Fjordland has a 100%
interest in the 2,192 ha "Milligan" project, adjoining Thompson Creek Metals
Company Inc.s (NYSE: TC and TSX:
TCM) Mt.
Milligan copper-gold
deposits on the west.
The Tak-Milligan properties have been optioned to
Capstone Mining Corp.
(TSX: CS).
Fjordland and Serengeti Resources Inc.
(TSX-V:
SIR) are 38%/62% partners exploring
12 properties (QUEST Project) totaling 56,670 ha in the Quesnel terrane
north of Woodjam for precious and base metals.
Fjordland has a 100% interest
in 8 properties totaling 60,047 ha in the Iron Range area and has an option
agreement on 7 properties totaling 21,222 ha with Kootenay Gold Inc.
(TSX-V:
KTN) in southeastern BC.
Fjordlands
shares trade on the TSX Venture Exchange under the symbol "FEX".
For
more information visit Fjordlands website at
www.fjordlandex.com.
About Gold Fields Limited
Gold Fields is one of the worlds largest unhedged producers of gold with
attributable, annualized production of 3.6 million ounces per annum from
eight operating mines in South Africa, Ghana, Australia and Peru.
Gold
Fields also has an extensive growth pipeline with both greenfield and near
mine exploration projects at various stages of development.
Gold Fields has
total attributable Mineral Reserves of 77 million ounces and Mineral
Resources of 225 million ounces.
For more information visit the companys
website at www.goldfields.co.za.
Tom Schroeter
President & CEO
Contact:
John Gomez, Investor Relations
Tel.
604-893-8365
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the release.