Fjordland and Sumac Commence Drilling on Dillard Copper-Gold Property, Southern
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/07/13 -- Fjordland
Exploration Inc. (TSX VENTURE:FEX) is pleased to announce that
diamond drilling has commenced on its Dillard porphyry copper-gold
project, located between Merritt and Princeton in southern British
Columbia. The 2013 work programs on Dillard are 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 during 2013 will total approximately 2,500 metres
(m) and is designed to test for additional copper-gold
mineralization, including possible depth extensions of mineralization
in holes that bottomed in mineralization during Placer Dome's 1991
drilling program on the Dill (Primer South) property, where drilling
intersected 207 m grading 0.25% copper. First-time drilling will also
test recently discovered high-grade copper and gold mineralization at
the Dillard East property, where surface rock sampling yielded assays
up to 1.6% copper and 28.9g/t gold, respectively.
Fjordland is the operator of the 2013 exploration program. During
June and July, 2013, Fjordland completed 17 lines totaling 43.3 line
kilometres (km) of ground magnetic and induced polarization surveys,
at 400-m line spacings. In addition, an airborne high-resolution
magnetic and radiometric survey totaling 293 line-km, at 100-m line
spacings, was completed by Precision GeoSurveys over an area
measuring approximately 7 km by 5.5 km. These recent surveys,
together with previous ground geophysical surveys completed in the
1970s, '80s, and '90s by several operators and in 2012 by Fjordland,
have resulted in the identification of two large anomalies.
A western anomaly, which includes the historic "Dill" target drilled
by Placer Dome in 1991, measures approximately 1,400 m by 1,200 m and
is open to the north and west. The eastern anomaly, which includes
the "Dillard" target identified in 2011 by Fjordland, measures
approximately 2,000 m by 1,500 m and is open to the north and east.
Both areas also have copper and gold soil anomalies coincident with
the geophysical anomalies.
Fjordland also reports the 100% acquisition of the 2,528-hectare
Allison Property, located 8 km north of Princeton. As the Allison
Property falls within the 20-km area of interest of the Dillard
agreement, the Property has been incorporated into the Dillard option
agreement with Sumac. In July 2013, three reconnaissance lines
totaling 3 line-km of induced polarization and magnetic surveys were
completed. Results are currently being evaluated.
Tom Schroeter, President and CEO of Fjordland states: "We are very
pleased to have confirmed and expanded the large, coincident
geophysical and geochemical anomalies over the Dillard West and
Dillard East portions of the Property, and now look forward to Phase
one drilling of priority targets. Exploration in the "Aspen Grove"
area has increased significantly, with two other drilling programs in
progress and more planned."
Further information about the Dillard porphyry copper-gold project
and the Aspen Grove camp is available on Fjordland's website at
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 deposit. 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.
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.
Fjordland Exploration Inc.
Manager, Investor Relations
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