Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd., 60%-40% partners in the Woodjam Joint Venture, report that Gold Fields Limited's exploration company "Gold Fields" latest drilling results continue to expand the copper-gold-molybdenum zone at the Woodjam South property.
Drilling results from an additional three holes (1,200 m) of the 2010 program have intersected long intervals of copper-gold-molybdenum mineralization to expand the zone to the northeast. The Southeast Zone currently has an 800 m by 630 m footprint.
Southeast Zone: Summary of Significant Drill Results
Hole SE10-17 was collared approximately 200 m southwest of hole SE10-15 which assayed 307.9 m grading 0.23% Cu, 0.02g/t Au and 0.004% Mo, including 108.0 m grading 0.41% Cu, 0.04g/t Au and 0.002% Mo. Hole SE10-18 was collared approximately 125 m north-northeasterly of hole 15. Hole SE10-19 was collared approximately 140 m south of hole SE10-07 which assayed 234.6 m grading 0.24% Cu, 0.03g/t Au and 0.001% Mo, including 51.6 m grading 0.45% Cu, 0.04g/t Au and 0.002% Mo. Hole SE10-20, drilled approximately 760 m north of hole SE10-07 (234 m grading 0.24% Cu and 0.001% Mo, including 51.6 m grading 0.45% Cu and 0.002% Mo and bottoming in well mineralized rock), appears to be located outside the zone of mineralization.
As with the previous drilling, all holes continue to be mineralized from the overburden/bedrock interface to the bottoms of the holes, except for two occurrences of host rock displacement by narrow, younger basalt dykes and hole SE10-20. Two of the holes were stopped in high-grade mineralization. In particular, the last sample interval of 2.14 m in hole SE10-18 assayed 0.77% Cu and 0.03g/t Au, down to 390.14 m, while the last sample interval of 2.14 m in hole SE10-19 assayed 0.43% Cu and 0.036g/t Au down to 450.8 m.
Gold Fields has informed the WJV that it plans to resume drilling in mid-January. During 2010, 21,908 m of drilling was completed on the adjoining Woodjam North and Woodjam South properties; the properties are located 45 km east of Williams Lake in south-central British Columbia. During 2010, Gold Fields completed 7,295 m in 20 holes on the 13,827-hectare Woodjam South copper-gold-molybdenum property.
Fjordland President Tom Schroeter said: "The continued significant intersections of copper, gold and molybdenum on the northeastern flank of the large, 2 km by 1 km induced polarization anomaly bodes well for additional expansions to the northeast and north."
Core samples were analyzed by ALS Laboratory Group, a certified facility in 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.
Woodjam North Update
Phase Three drilling (1,053 m in 3 holes) was recently completed on the Deerhorn Zone (see News release dated November 22, 2010 for earlier results) at the adjoining Woodjam North gold-copper property, bringing the total drilling at Woodjam North during 2010 to 14,613 m in 55 holes. Assay results for these remaining three holes are pending.
Source: Fjordland Exploration Inc.