Wildrose, Fjordland expand Megabuck at Woodjam

Vancouver An exploration program has expanded the Megabuck gold-copper zone and confirmed potential for another copper system at the Woodjam porphyry project in Central British Columbia. Fjordland Exploration (FEX-V) can earn a 60% interest in the project from Wildrose Resources (WRS-V) by spending $1.5 million on exploration before October of 2006, and by payments of cash and shares.

A six-hole drill program totaling 2,018 metres was completed at Woodjam, where the exploration target is a bulk-minable gold-copper deposit similar to others in the Quesnel Trough mineral belt. The five holes drilled at the Megabuck zone revealed potential for expansion laterally, and at depth, as most holes ended in mineralization, with grades strengthening at depth.

The best hole drilled at Megabuck hit 178.9 metres (starting at 102.4 metres) grading 0.64 gram gold per tonne and 0.13% copper. The bottom 91.7 metres averaged 1 gram gold and 0.22% copper. The hole stopped in mineralization at 281.3 metres, owing to drilling problems associated with a fault zone.

Another hole returned 445 metres (starting at 17.4 metres) of 0.53 gram gold and 0.11% copper, which includes 57.6 metres of 1.08 grams gold and 0.2% copper. Two other holes returned broad intersections of lower-grade mineralization; 109.5 metres of 0.38 gram gold and 0.08% copper, and 418.8 metres of 0.32 gram gold and 0.06% copper.

This year’s exploration program also tested the Takom zone, 2 km south of the Megabuck zone. This target covers a 2-km by 1-km copper-in-soil anomaly coincident with a large Induced Polarization geophysical anomaly.

Earlier this summer, eight shallow reconnaissance reverse-circulation holes were drilled to test the Takom zone. Six of these encountered anomalous mineralization, with the best returning 0.16% copper over almost 40 metres. A single hole tested the zone in the latest round of drilling, and returned 206.9 metres (starting at 107.3 metres) of 0.06 gram gold and 0.11% copper, including 82.6 metres of 0.1 gram gold and 0.12% copper.

The partners note that drilling at Woodjam has confirmed potential for deposits similar to others in the Quesnel Trough, such as the Kemess South and Kemess North deposits owned by Northgate Minerals (NGX-T). Kemess South began operations in 1999 with reserves of 200 million tonnes grading 0.63 gram gold and 0.22% copper. Kemess North, now in the permitting stage, has proven reserves of 282 million tonnes of 0.31 gram gold and 0.16% copper.