Fjordland Exploration Inc.
TSX VENTURE : FEX

Fjordland Exploration Inc.

October 24, 2013 09:00 ET

Fjordland and Sumac Drill 158.5 Metres Grading 0.20% Copper and 0.01g/t Gold on Dillard Property, Southern British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2013) - Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to announce results from its recently completed 6-hole, 2,600 metres (m) diamond drilling program on its 2,592-hectare Dillard porphyry copper-gold project, located between Merritt and Princeton in southern British Columbia. A drill location map may be viewed at http://www.fjordlandex.com/news/nr13-08b.pdf. The 2013 work programs on Dillard were part of a staged, systematic exploration program, budgeted at approximately $800,000, under a recent option agreement with Sumac Mines Ltd., a subsidiary of Sumitomo Metal Mining Co. Ltd. (see news releases dated April 4, 2013 and May 28, 2013).

Phase One drilling, completed in 2013, was designed to test geophysical targets as well as possible depth extensions of historically reported copper-gold mineralization. Numerous historic drill holes bottomed in mineralization during Placer Dome's 1991 drilling program in the Dillard West area (then Primer South property), where drilling intersected 207 m grading 0.25% copper. Drilling also tested previously untested, recently discovered high-grade copper and gold mineralization at the Dillard East property, where surface rock sampling yielded assays up to 1.6% copper.

The Dillard West target, measuring approximately 1,400 m by 1,200 m, includes coincident induced polarization (IP) chargeability and copper and gold soil anomalies, and is open to the north and west. Four holes totaling 1,588 m were completed; three angled drill holes drilled along a north-south section (Line 500E), and a fourth vertical hole drilled approximately 400 m to the west. The southern-most hole (DI-13-03) on Line 500E intersected 201 m grading 0.11% Cu and 55 ppb Au, including two separate intervals of 17.5 m grading 0.29% Cu and 143 ppb Au, and 21 m grading 0.20% Cu and 87 ppb Au, hosted by Nicola Group andesitic rocks. Hole DI-13-04, located 275 m to the north, intersected a sequence of alternating andesitic and dioritic rocks hosting copper and gold mineralization. The entire hole (403 m) yielded 0.14% Cu and 72 ppb Au and included intervals of 293.5 m grading 0.16% Cu and 78 ppb Au, and 158 m grading 0.20% Cu and 94 ppb Au. Hole DI-13-05, situated 600 m north of hole DI-13-04, intersected predominantly andesitic volcanic rocks and yielded 377.1 m grading 0.11% Cu and 41 ppb Au, including 63 m grading 0.16% Cu and 45 ppb Au and 51 m grading 0.18% Cu and 64 ppb Au. Hole DI-13-06 was a short hole, hosted by alternating andesitic and dioritic rocks and yielded 106.5 m grading 0.11% Cu and 49 ppb Au.

The Dillard East target, measuring approximately 2,000 m by 1,500 m, is located approximately 3.5 kilometres east of the Dillard West target and is open in all directions. Two drill holes totaling 1,012 m, situated approximately 1,250 m apart, targeted an IP chargeability anomaly delineated earlier in the season. Anomalous copper +/- molybdenum +/- gold amounts were obtained, with local 3-m intersections grading up to 0.14% Cu, 410 ppb Au and 55.5 ppm Mo. Drill holes DI-13-01 and DI-13-02 intersected a major fault system containing intensely pyritized Nicola Group andesitic volcanic rocks, with local zones of high silica flooding.

Hole Number Total Depth (m) From (m) To (m) Interval (m) Cu (%) Au (ppb)
DI 13-03 533 143 344 201 0.11 55.2
including 218 235.5 17.5 0.292 143.6
DI 13-04 452 49 452* 403 0.136 71.6
including 49 342.5 293.5 0.164 77.5
and 49 207.5 158.5 0.201 93.7
DI 13-05 382.1 5 382.1* 377.1 0.109 40.5
including 5 68 63 0.163 44.5
and 32.5 62.5 30 0.187 55.9
and 92 248 156 0.135 47
and 95 146 51 0.184 64.2
and 296 368 72 0.103 49.1
DI 13-06 221 41 221* 180 0.085 46
and 44 150.5 106.5 0.11 49

Notes: Intervals are core lengths. * = end of hole. Metallurgical recoveries and net smelter returns are not considered.

Tom Schroeter, President and CEO of Fjordland states: "We are pleased with the results from the 2013 exploration program and look forward to an expanded exploration program in 2014."

Further information about the Dillard porphyry copper-gold project and the Aspen Grove camp is available on Fjordland's website at http://www.fjordlandex.com/dillard_property.html.

Core samples were analyzed by Acme Analytical Laboratories Ltd., a certified facility in Vancouver, BC. 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.

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 of 17 properties. It has a 100% interest in 5 properties known as "Tak" totaling 43,486 ha situated near the Woodjam Property in the Cariboo region of central BC. Fjordland and Serengeti Resources Inc. are (50/50) partners in the "Milligan West" property totaling 15,736 ha, adjoining Thompson Creek Metals Ltd's Mt. Milligan copper-gold deposits. Fjordland and Serengeti Resources Inc. are 35%/65% partners exploring 8 precious and base metals properties ("QUEST" Project) totaling 24,071 ha in the Quesnel Terrane between Imperial Metals' Mount Polley Mine and Thompson Creek Metals' Mt. Milligan mine. Fjordland has a 100% interest in the "St. Mary's" property totaling 13,600 ha in the Iron Range in southeastern BC. Fjordland has options to acquire a 100% interest in the adjoining Dillard and Dill (collectively named "Dillard") copper and gold properties, located north of Princeton. Sumac Mines Ltd. has an option with Fjordland to acquire a 51% interest in the Dillard property. Fjordland's shares trade on the TSX Venture Exchange under the symbol "FEX". For further information visit Fjordland's website at www.fjordlandex.com.

About Sumac Mines Ltd.

Sumac Mines Ltd. (Sumac) is a mineral exploration company based in Vancouver and a subsidiary of Sumitomo Metal Mining Co., Ltd. (SMM). Sumac has explored many copper projects in British Columbia since the early 1970s, resulting in the discovery of the Kutcho Creek deposit in the northern part of the province. Sumac is currently exploring for copper and gold in British Columbia and the Yukon. The parent company, SMM, is an integrated non-ferrous mining, smelting, refining and manufacturing company, headquartered in Tokyo, Japan. SMM operates the Hishikari gold mine in Japan and the Pogo gold mine in Alaska, and has invested in many large copper mines worldwide.

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
    www.fjordlandex.com