Fjordland Exploration Inc.
TSX VENTURE : FEX

Fjordland Exploration Inc.

December 12, 2011 19:12 ET

Fjordland Encouraged by Initial Results at Red Lobster SEDEX Target, West of Sullivan Mine, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2011) - Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to report assay results for the first phase of its late-season drilling program on its road-accessible, 2,426-hectare Red Lobster Property, located 25 kilometres west of the historic giant Sullivan zinc-lead-silver mine in southeastern BC. These holes were from the recently completed 4-hole drilling program totaling 908 m, as mentioned in news releases dated October 19, 2011 and November 26, 2011.

Red Lobster Initial Drilling Highlights:

Hole ID From (m) To (m) Int. (m) Zinc % Lead %
RL11-01 95.4 112.5 17.1 0.22 0.17
RL11-02 123.5 140.0 16.5 0.12 0.12

Hole RL11-01, drilled at -45 degrees, encountered a mineralized interval over approximately 17.1 m. Mineralization consists of semi-massive red brown sphalerite, galena, pyrrhotite, pyrite and chalcopyrite in foliated and deformed parallel bands, as disseminations and in crosscutting fractures and quartz veins associated with quartz and strong chlorite +/- sericite +/- albite alteration in middle Aldridge quartzites and pelites. The three intervals are separated by two short unmineralized sections, interpreted as strongly sheared and altered gabrro. In the hangingwall, strong silica-albite altered rocks with very fine-grained pyrrhotite and an unidentified blackish mineral occur with quartz veining. The mineralized zone(s) appears to be in fault contact with less-altered psammites.

Hole RL11-02 was drilled at -70 degrees from the same set up as RL11-01, to undercut the mineralized zone. As expected, the hole encountered similar highly altered and sheared sedimentary rocks with mineralization noted over a 109.5-m interval, and locally separated by intensely sheared and altered gabbro.

The Company believes that the mineralization in these two holes may have been remobilized from a deeper more massive source of sulphides during deformation in a vent setting.

Assay results from holes RL11-03 and RL11-04, located approximately 3.5 km to the west on the Shado Zone, intersected sporadic lower grade lead-zinc mineralization.

Drilling of hole RL11-05 will resume immediately, and will target the postulated depth extension of the mineralized zone encountered in holes RL11-01 and RL11-02, to a depth of approximately 300 m.

Tom Schroeter, President of Fjordland commented: "We are excited to quickly resume drilling on the Red Lobster SEDEX (Sullivan-type) target, as well as testing the GCP gold target early in the New Year. We anticipate a very active exploration season in the southeast next year."

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 Mt. Milligan copper-gold deposits on the west. Capstone Mining Corp. owns a 49% interest in the combined Tak-Milligan Project. Fjordland and Serengeti Resources Inc. 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. 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 more 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

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.

Contact Information

  • Fjordland Exploration Inc.
    John Gomez
    Manager, Investor Relations
    604-893-8365
    604-669-8336 (FAX)
    www.fjordlandex.com