Fjordland Exploration Inc. (TSX VENTURE:FEX) has provided an update on exploration activities on its Tak-Milligan copper-gold-molybdenum project in central British Columbia, under a recent option agreement with Capstone Mining Corp., whereby Capstone may acquire up to a 70% interest in a large property portfolio prospective for copper-gold, porphyry-type deposits.
Fjordland recently received assays for five grab samples taken from the Moffat property that forms one of the seven properties under the Tak Package. Anomalous copper, along with isolated gold and/or molybdenum values, were received for all five samples. The best assay returned 0.36% copper, 0.29g/t gold, 6.9g/t silver and 11 ppm molybdenum.
The samples were collected from an area on Fjordland's Moffat property approximately 15 km south-southeast of the Woodjam gold-copper-molybdenum properties currently being explored by Gold Fields under an option agreement with Fjordland and Cariboo Rose Resources Ltd., and approximately 1.5 km north of Fjordland's Harrison Creek occurrence where the BC Geological Survey Branch, during its 2008 mapping program, discovered mineralized vein material which returned 1671 ppm copper, 1432 ppb silver and 105 ppb gold.
Disseminated and fracture-filled chalcopyrite occurs in granodioritic to monzodioritic rocks of the Takomkane batholith on the Moffat property. Mineralization is associated with varying amounts of magnetite and epidote. The five samples reported were collected from two separate sites, approximately 800 m apart, on newly constructed logging roads that have recently opened up the area; access is from Williams Lake, approximately 50 km to the west.
During late October and mid- November, Scott Geophysics Ltd., under contract to Fjordland, completed a total of 23.1 line kilometers of reconnaissance induced polarization (IP) surveys over four properties (Moffat, Tisdall, Hazel and Canim) in the Tak package.
Also, in October, Fjordland collected 519 soil samples from both the Tak and Milligan properties; analytical results are awaited.
Tom Schroeter, President of Fjordland commented: "The significant assays from the two new occurrences on the Moffat property are very encouraging, particularly considering the area has only recently been opened up by new logging roads. We look forward to an expanded exploration program in 2011."
T.G. 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. Analyses were performed by Agat Laboratories of Alberta using an aqua regia digest and ICP-MS finish. Gold was analyzed via Fire Assay with ICP-OES finish. Results for copper and molybdenum are provided in ppm (parts per million), and for gold and silver in grams per tonne. Quality control protocol includes pick up of samples by the laboratory and laboratory internal controls.
Source: Fjordland Exploration Inc.