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Fjordland Exploration Inc

Publié le 07 février 2012

Options Copper-Gold Property in Southern BC

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Mots clés associés :   Canada | Capstone | Copper | K Street | Kootenay Gold |

Fjordland Exploration Inc.

1111 Melville Street, Suite 1100

Vancouver, British Columbia

Canada V6E 3V6  

www.fjordlandex.com

 

NEWS RELEASE

 

Fjordland Options Copper-Gold Property in Southern BC

 

Acquisition Consolidates Porphyry Properties; Historical Drilling Intercept of 207 Metres Grading 0.25% Copper

 

Vancouver, BC, February 7, 2012 ? Fjordland Exploration Inc. (TSX-V: FEX) is pleased to report that it has signed an Option Agreement with Almaden Minerals Ltd. (?Almaden?) (TSX: AMM, NYSE AMEX: AAU) to acquire a 100% interest in the Dill Property, a porphyry copper-gold property where previous drilling has intercepted several long intervals of copper mineralization including 207 metres (m) grading 0.25% copper.  This hole ? like most drill holes ? bottomed in mineralization and therefore remains open to expansion at depth, as well as laterally. 

 

The 400-hectare (ha), road-accessible Dill Property, is located 47 kilometres (km) southeast of Merritt in southern British Columbia, approximately 45 kms north of Copper Mountain?s (TSX: CU) flagship Copper Mountain mine that started production last September.  The Dill Property adjoins Fjordland?s recently optioned Dillard Property that was acquired due to numerous porphyry copper mineralized showings exposed from recent logging activities (see August 31, 2011 news release for further details).  Fjordland is planning a systematic exploration program during 2012 which will include drilling on both the Dillard and Dill Properties which total 2600 ha.

 

The Dill copper-gold property was explored from 1963 to 1991 by several mining companies, including Primer Group Minerals (1966-1969) that completed 18 core holes totaling 2330 metres (m) and 3 percussion holes totaling 201 m, Cominco Ltd. (1981-1983) that conducted geochemical and geophysical studies, and Placer Dome Inc. (1989-1991) that completed 11 angled drill holes totaling 2020 m.  A selection of mineralized drill intercepts from previous drilling is shown in the table below:

 

SELECTED HISTORICAL MINERALIZED DRILL INTERCEPTS

DDH

Total Depth (m)

From (m)

To (m)

Interval (m)

Cu (%)

  Au (ppb)

Company

D66-1

127.4

10.7

127.4

116.7

0.22

303

Primer Grp Min

D66-2

126.2

83.8

126.2

42.4

0.22

Primer Grp Min

D67-4

189.0

6.1

125.0

118.9

0.23

78

Primer Grp Min

D67-5

94.2

2.4

94.2

91.7

0.23

303

Primer Grp Min

D68-12

39.0

1.2

39.0

37.8

0.33

 

Primer Grp Min

D69-1

247.5

40.2

247.2

207.0

0.25

 

Primer Grp Min

Including

40.2

99.7

59.4

0.37

 

Primer Grp Min

D91-2

219.5

32.3

219.5

187.2

0.24

97

Placer Dome

D91-3

197.5

125.3

151.2

25.9

0.22

64

Placer Dome

D91-5

188.0

158.2

188.1

29.9

0.30

105

Placer Dome

D91-6

183.5

82.9

86.0

3.1

2.02

330

Placer Dome

D91-10

147.2

9.1

66.1

57.0

0.22

76

Placer Dome

 

Since 1987, Fairfield Minerals Ltd. (now Almaden) has owned the Dill Property.  From 1989 to 1991, Placer Dome Inc. held the Property under option and drill tested an area measuring approximately 1300 m in length and 400 m in width, part of coincident copper-gold soil and induced polarization (IP) anomalies, measuring approximately 1600 m by 700 m, and 1500 m by 900 m, respectively.  Structurally-controlled, near-surface, copper-gold mineralization was encountered in alkalic monzonites to monzodiorities which intrude Nicola Group volcanic rocks.  The westerly-trending northern zone has been traced by drilling for 440 m in length and varying up to 140 m in width and to depths of 180 m.  Drilling 400 m to the south of the northern zone also intersected significant copper mineralization within a southern zone trending west-northwest for 740 m and to depths of 220 m.  Most drill holes bottomed in mineralization at depths of up to 220 m.  The source of numerous gold soil geochemical anomalies (> 50 ppb) remains unclear.  One isolated drill intercept in the drilling returned a 3.1 m interval assaying 710 ppb gold.

 

Fjordland President Tom Schroeter commented, ?We are very pleased to add the Dill Property to our tenements, located between Highland Valley and Copper Mountain, two major operating copper-gold mines.  The previous significant drill intercepts on the Dill Property, combined with the positive assays recently obtained from surface sampling on the Dillard Property, provide an excellent stepping stone to drilling programs during 2012.?

 

To earn a 100% interest in the Property, subject to a 2% NSR which Fjordland has the option to purchase 50% of, Fjordland will pay $25,000 cash and issue 250,000 common shares of Fjordland within five days of receipt of approval of the Agreement from the TSX-V.  To complete the purchase, Fjordland has the option to pay an additional $25,000 cash and issue an additional 250,000 common shares of Fjordland to Almaden on or before the first anniversary of the initial payment.  If Fjordland completes a NI 43-101 Resource Estimate on the Dill Property, it will issue an additional and final 1,500,000 common shares of Fjordland to Almaden.  The Agreement is subject to approval of the TSX Venture Exchange.

 

About Fjordland Exploration Inc.

 

Fjordland Exploration is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia.  Fjordland currently has a portfolio with 38 properties.  It has a 51% interest in 7 properties known as ?Tak? totaling 55,654 ha in the Woodjam area of central BC.  Fjordland has a 51% interest in two properties known as ?Milligan? totaling 2,192 ha, adjoining Thompson Creek Metals Company Inc.?s (NYSE: TC and TSX: TCM) Mt. Milligan copper-gold deposits on the west. Capstone Mining Corp. (TSX: CS) owns a 49% interest in the combined Tak-Milligan Project.  Fjordland and Serengeti Resources Inc. (TSX-V: SIR) are 37%/63% partners exploring 13 properties (QUEST Project) totaling 50,170 ha in the Quesnel Terrane north of Woodjam for precious and base metals.  Six of the QUEST properties (totaling 27,690 ha) have been optioned to Xstrata Copper; the QUEST JV owns 100% of the remaining 7 properties totaling 22,480 ha.  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.  Fjordland has an option to acquire a 100% interest in the Dillard copper and gold property, north of Princeton.  Fjordland?s shares trade on the TSX Venture Exchange under the symbol ?FEX?.  For further information visit Fjordland?s website at www.fjordlandex.com.

 

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.

 

Tom Schroeter

President & CEO

 

Contact:          

 

John Gomez,

Manager, Investor Relations

Tel. 604-893-8365

 

Neither TSX Venture Exchange nor its Regulation Services providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Fjordland Exploration Inc

EXPLORATEUR
CODE : FEX.V
ISIN : CA33833E1034
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Fjordland Expl. est une société d’exploration minière d'argent et d'or basée au Canada.

Fjordland Expl. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont ASHBY, WOODJAM, QUEST JV, QUEST et BC PROPERTIES au Canada.

Fjordland Expl. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 2,6 millions CA$ (2,1 millions US$, 1,8 millions €).

La valeur de son action a atteint son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$, et son plus haut niveau récent le 15 septembre 2017 à 0,59 CA$.

Fjordland Expl. possède 103 780 000 actions en circulation.

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Financements de Fjordland Exploration Inc
14/12/2011to Complete Flow-Through Private Placement
15/09/2011Closes Final Tranche of Financing
06/07/2011to Raise up to $1.5 Million in Private Placement Financing
16/08/2010Closes Private Placement with Gold Fields
19/02/2009reases Flow-Through Private Placement
04/02/2009to Complete Flow-Through Private Placement
23/05/2008to Raise up to $1 Million in Private Placement Financing
03/07/2006completes private placement
01/06/2006closes first tranche of private placement
Projets de Fjordland Exploration Inc
11/09/2012(Tak-milligan)Regains 100% Interest in the Tak-Milligan Copper-Gold-Molybd...
28/02/2012Provides Updates on British Columbia Projects
09/02/2012and Capstone Plan Aggressive Exploration Program on Tak Copp...
07/02/2012Options Copper-Gold Property in Southern BC
29/06/2011(Woodjam)and Cariboo Rose to Spin-Off Woodjam Copper-Gold-Molybdenum ...
16/06/2011(Woodjam).: Drilling at Woodjam South (Southeast Zone) Yields 349.3 m...
07/06/2011(Woodjam)Woodjam Joint Venture and Gold Fields Add Ground to Woodjam ...
02/06/2011(Tak-milligan)Commences Reconnaissance Induced Polarization Surveys on Tak...
20/05/2011(Woodjam)Drilling at Woodjam South Yields 349.9 m Grading 0.33% Coppe...
12/05/2011(Woodjam)Drilling at Woodjam North Intersects 160.3 m Grading 1.03g/t...
25/03/2011(Woodjam).-Woodjam North: Deerhorn Zone Drill Hole Intersects 151.5 m...
02/03/2011(Woodjam)Gold Fields Plans Major Drilling Programs at Woodjam Gold-Co...
06/07/2010(Woodjam)Gold Fields Completes Due Diligence on Woodjam South Propert...
26/05/2010(Woodjam)Gold Fields Granted Option on Woodjam South Copper-Gold Prop...
21/04/2010(Woodjam)Drilling at Woodjam North Intersects 61.9 m Grading 0.82 g/t...
10/02/2010(Woodjam)Gold Fields Resumes Drilling at Woodjam North, B.C.
23/09/2009(Woodjam)Gold Fields Initiates $3 Million Program at Woodjam North Go...
17/09/2009(Woodjam)Acquires Moffat Property, South of Woodjam Gold-Copper Proje...
20/01/2009(Woodjam)to Present Woodjam Gold-Copper Project at Mineral Exploratio...
06/01/2009(Woodjam)Drilling at Woodjam Returns 0.69% Copper and 0.27 g/t Gold o...
01/10/2008(Woodjam)New Mineralized Zone Discovered by Drilling at the Woodjam, ...
03/09/2008(Woodjam) Phase 2 Drilling Completed at Southeast Zone Discovery of W...
23/07/2008(Woodjam)Second Drill Rig Added To Woodjam Copper-Gold-Molybdenum Pro...
26/06/2008(Woodjam)Re-Analysis Upgrades Drill Results to 402 Metres of 0.44% Co...
21/05/2008(Woodjam) Drilling Intersects 571 Metres (1,873 feet) of 0.35% Copper...
31/03/2008(Quest Jv)Expand QUEST Project and Complete Additional Airborne Survey...
13/03/2008(Woodjam)Commences Drilling at Woodjam
26/02/2008(Woodjam) and Cariboo Rose Add Ground to WOODJAM Copper, Gold, Molybd...
03/05/2006(Woodjam)and Wildrose expand gold-copper zone at Woodjam project
Communiqués de Presse de Fjordland Exploration Inc
20/06/2016Fjordland Announces Appointment of Kolebaba as Adviser
27/05/2016CanAlaska Options Additional Claims for Diamond Exploration ...
25/05/2016Fjordland Options Athabasca Basin Claims With Potential Kimb...
19/05/2016Fjordland Stakes Additional Claims surrounding Kimberlite Ta...
05/10/2015Fjordland Cancels Non-Brokered Private Placement
19/06/2015Fjordland Announces Non-Brokered Private Placement
18/11/2014Fjordland and Sumac Drill 153 Metres Grading 0.20% Copper an...
21/08/2014Fjordland and Sumac Increase Drilling to 4,500 Metres at Dil...
08/04/2014Fjordland and Sumac Plan 2,500 Metres of Drilling and 2,000 ...
24/10/2013and Sumac Drill 158.5 Metres Grading 0.20% Copper and 0.01g/...
07/08/2013and Sumac Commence Drilling on Dillard Copper-Gold Property,...
28/05/2013and Sumac Announce 2013 Work Programs for Dillard Copper-Gol...
04/04/2013Signs LOI and Preliminary Agreement with Sumac Mines Ltd. on...
18/02/2013President Tom Schroeter Presents "Mining in British Columbia...
18/10/2012Identifies Drill Targets on Dillard Copper-Gold Property, So...
17/01/2012Finds Copper and Gold at Moffat
12/01/2012Tom Schroeter Talks BC Mining at Roundup
05/12/2011(Woodjam)Stay Updated on Woodjam
28/11/2011Encounters Mineralization in Drilling on Tak (Moffat) and Re...
21/09/2011(Quest)Enters into Agreement with Major Mining Company to Explore i...
01/09/2011New PowerPoint Presentation
05/07/2011(Woodjam).: Drilling at Woodjam South (Southeast Zone) Yields 264 m G...
27/06/2011Planning Three Drilling Programs in the Kimberley Gold and I...
18/05/2011(Woodjam)Drilling at Woodjam North (Deerhorn Zone) Intersects 207.5 m...
16/05/2011Purchases Exploration Data for Parts of its Milligan Claims,...
05/05/2011Cariboo Rose and Gold Fields Find More Copper (and Gold)
31/03/2011(Woodjam)to Present Woodjam Talk at KEG Conference
07/07/2010Provides Update on Sampling Programs on Six Copper-Gold-Moly...
02/06/2010Expands Tak Gold-Copper Property Portfolio, Central B.C.
03/03/2010Acquires Eight Gold-Copper Properties
24/09/2008and Serengeti Identify Six Priority IP Targets for Follow-Up...
08/04/2008 an Exhibitor at Calgary Resource Conference
12/04/2006(Woodjam)Earns 60% interest in Woodjam gold-copper property
20/03/2006mining analyst Lawrence Roulston initiates coverage on Fjord...
26/05/2005(Woodjam)Commences 2005 Exploration Program at Woodjam Project
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