Woodjam Shaping Up For Fjordland And Cariboo

VANCOUVER — Drill intercepts showing long intervals with consistent grades of copper, molybdenum and gold on the Woodjam property, 50 km east of Williams Lake, B. C., buoyed the share prices of 60/40 joint-venture partners Fjordland Exploration (FEX-V, FEXXF-O) and Cariboo Rose Resources (CRB-V, CROOF-O).

Fjordland’s share price jumped by 3.5¢ to 8.5¢ and Cariboo’s doubled to 12¢.

Stirring up investor interest were results that included one of the best drill holes to date at the Southeast zone: 359 metres grading 0.69% copper, 0.27 gram gold per tonne and 0.006% molybdenum starting about 126 metres down-hole in hole 84.

The latest results also included the discovery of a new mineralized area in the Deerhorn zone. Hole 92 intercepted 236 metres grading 0.1% copper and 0.13 gram gold starting 43 metres below surface and hole 93 in the same zone returned 69 metres grading 0.22% copper and 0.5 gram gold starting at 33 metres depth.

The release of results included intercepts from the two other zones of mineralization on the property — Megabuck and Takom.

The latest hole in the Takom zone intercepted 127 metres grading 0.26% copper and 0.4 gram gold starting about 100 metres down-hole and in the Megabuck zone, hole 94 hit as much as 6 metres grading 0.04% copper and 0.85 gram gold.

The four zones that the partners have discovered since beginning to drill the property in 2002 are all within about a kilo-metre or two of each other, with Megabuck and Deerhorn lying to the north of the Takom and Southeast zones.

Fjordland emphasizes that all 18 holes drilled so far in the Southeast zone have returned mineralization with copper values ranging between about 0.1% and 1%, gold between 0.1 gram and 1 gram and molybdenum between 0.001% and 0.01%, often over intercepts of several hundred metres.

As well, Fjordland reports that mineralization in the Takom zone has copper-gold ratios similar to Megabuck’s. The latter has produced some of best gold grades for the joint-venture partners. In 2004, for instance, drilling returned 348 metres grading 0.82 gram gold and 0.12% copper.

Mineralization is still open in all directions in each of the four zones and as far as Fjordland and Cariboo can tell, the porphyry-style mineralization is related to dioritic or monzonitic subvolcanic intrusive bodies that are between 190 and 196 million years old.