At Woodjam South, a 15,000-metre (m) drilling program (5,000 m infill,
6,000 m expansion drilling, and 4,000 m unallocated) commenced on March
16th in the core area measuring 800 m by 630 m to a depth of
more than 400 m. A number of the drill sites are planned to allow
calculation of an inferred pit-constrained NI 43-101 compliant resource by
the end of 2011. This work program is part of Gold Fields' $5 million
budget announced on March 2, 2011. This initial drilling program,
utilizing two rigs, concentrated on the southern and southeastern areas of
the core area of mineralization, primarily dictated by access logistics
during the spring months. Drilling will next test the northern and
northwestern areas of the core area of mineralization. To date, nineteen
holes totaling more than 8,000 m have been completed; further results will
be reported in batches when received. A drill location map may be viewed
at www.fjordlandex.com/news/nr11-11b.pdf.
Southeast Zone Drilling:
Hole
ID |
From
(m) |
To
(m) |
Int.
(m) |
Cu% |
Au
g/t |
Mo% |
Cu
Eq % |
SE11-22 |
125.0 |
474.3* |
349.3 |
0.36 |
0.05 |
0.006 |
0.42 |
Including |
125.0 |
178.0 |
53.0 |
0.67 |
0.04 |
0.005 |
0.73 |
Including |
360.0 |
420.0 |
60.0 |
0.33 |
0.05 |
0.010 |
0.42 |
SE11-24 |
167.0 |
461.2* |
294.2 |
0.20 |
0.03 |
0.009 |
0.27 |
Including |
187.0 |
338.0 |
151.0 |
0.27 |
0.04 |
0.012 |
0.36 |
Including
|
388.4 |
461.2* |
72.7 |
0.20 |
0.02 |
0.012 |
0.29 |
SE11-26 |
147.0 |
404.2* |
257.2 |
0.19 |
0.03 |
0.010 |
0.27 |
Including |
227.8 |
404.2* |
176.4 |
0.21 |
0.03 |
0.014 |
0.31 |
Including |
326.0 |
402.0 |
78.2 |
0.23 |
0.03 |
0.019 |
0.36 |
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 SE11-22 was collared between holes SE10-01, WJ08-89 and WJ08-85,
along the interpreted southern portion of the higher-grade core area, and
encountered copper-molybdenum mineralization from the top of the bedrock
to the end of the hole at 474.3 m. The final 2.3-m sample interval assayed
0.24% Cu and 0.02 g/t Au (0.26% Cu Eq).
Hole SE11-24 was collared between holes WJ07-73 and WJ08-86 and
approximately 200 m east of SE10-01 and 200 m west of SE10-08, along the
interpreted southeastern portion of the higher-grade core area, and
encountered copper-molybdenum mineralization from the top of the bedrock
to the end of the hole at 461.2 m. A 50.5-m unmineralized porphyry dyke
intrudes the mineralized rocks between 338.0 m and 388.4 m.
Hole SE11-26 was collared between holes WJ08-86 and WJ08-95, along the
interpreted southeastern portion of the higher-grade core area, and
encountered copper-molybdenum mineralization from the top of the bedrock
to the end of the hole at 404.2 m. The final 78.2 m of the hole assayed
0.019% Mo.
Assay results for holes SE11-23 and SE11-25 have not yet been approved
under the project's strict quality control/quality assurance procedures.
All 42 drill holes reported on the Southeast Zone to date are
mineralized from the overburden/bedrock interface to the bottoms of the
holes, with the exception of one reconnaissance hole (SE10-20), drilled
approximately 800 m north of the northern-most mineralized hole (SE10-07)
and for two occurrences of host rock displacement by narrow, younger
basalt dykes. 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.
Fjordland President Tom Schroeter says: "Assay results from this
ongoing infill and expansion drilling program continue to be very positive
with the potential to increase the mineralized zone already defined in the
Southeast Zone. We look forward to further positive results from this
program, culminating in a 43-101 inferred resource before the end of
2011."
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 Mt. Milligan copper-gold
deposits on the west. The Tak-Milligan properties have been optioned to
Capstone Mining Corp. Fjordland and Serengeti Resources Inc. are 41%/59%
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. in southeastern BC. Fjordland's shares trade on the TSX
Venture Exchange under the symbol "FEX". For more information visit
Fjordland's website at www.fjordlandex.com.
About Gold Fields Limited
Gold Fields is one of the world's 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
company's website at www.goldfields.co.za.
Tom Schroeter, President & CEO
The TSX Venture Exchange
has not reviewed and does not accept responsibility for the adequacy or
accuracy of the release.