VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2008) - Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to report that the Woodjam Joint Venture, comprising Fjordland (60%) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB) (40%), has intersected 200.76 m grading 1.01% copper and 0.44 g/t gold in drilling on the Southeast Zone at the Woodjam Property in central British Columbia. Drilling on the Southeast Zone is scheduled to re-commence next week. Reconnaissance drilling on the Takom and newly-discovered Deerhorn zones has just been completed; results are pending. The drill results for the previously unreported seven Southeast Zone drill holes follow:
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Core
From To Length Cu Mo Au
Hole ID (m) (m) (m) % % g/t
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WJ-08-84 129.24 356.01 (eoh) 226.77 0.93 0.003 0.40
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including 129.24 330.00 200.76 1.01 0.002 0.44
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including 264.00 309.00 51.00 1.61 0.004 0.84
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WJ-08-85 158.50 356.68 (eoh) 198.18 0.31 0.004 0.06
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including 158.50 230.00 71.50 0.41 0.005 0.08
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WJ-08-86 88.39 419.71 (eoh) 331.32 0.20 0.009 0.03
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including 360.00 415.00 58.00 0.31 0.026 0.05
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WJ-08-88 134.11 355.70 (eoh) 221.59 0.46 0.013 0.05
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including 134.11 314.00 179.89 0.50 0.012 0.05
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including 160.63 182.27 21.64 0.82 0.010 0.05
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WJ-08-89 140.21 392.28 (eoh) 252.07 0.28 0.009 0.06
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including 154.53 297.00 142.47 0.33 0.010 0.07
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WJ-08-90 89.31 422.76 (eoh) 333.45 0.26 0.022 0.04
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including 89.31 165.00 75.69 0.40 0.011 0.06
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WJ-08-91 130.06 395.33 (eoh) 265.27 0.12 0.005 0.02
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including 190.00 244.00 54.00 0.22 0.010 0.03
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(WJ-08-87 was drilled in the Takom Zone and will be released when the
results are available)
(eoh equals end of hole)
To date, fifteen vertical drill holes totaling 6,059 m have been completed in the Southeast Zone; all are mineralized from the bedrock surface to the bottom of the holes. The deepest hole (WJ-08-82) was terminated in mineralization at 700.4 m, with the entire 570.9 m of core assaying 0.24% copper, 0.013% molybdenum and 0.028 g/t gold. Hole WJ-08-83 (previously released) graded 0.44% copper, 0.006% molybdenum and 0.079 g/t gold over 402 m, including 0.80% copper, 0.003% molybdenum and 0.123 g/t gold over 71.93 m. All of the drilling has been within a 1.5 km by 1.0 km IP geophysical target; however, less than 1/3 of the target has been tested suggesting the potential for significantly expanding the mineralized zone. Twelve of these holes have been drilled in a grid pattern with a collar spacing of approximately 100 m within an area of 300 m by 550 m.
Drill hole WJ-08-84 intersected a high-grade zone through its full core length that is believed to reflect a more intensely altered and veined zone within a large, well-mineralized monzodiorite to quartz monzonite intrusion. The hole was terminated due to drilling considerations and the last sample interval assayed 0.67% copper, 0.104 g/t gold and 0.009% molybdenum. Similar mineralization (71.93 m grading 0.80% copper, 0.123 g/t gold and 0.003% molybdenum) was encountered in the upper portion of previously reported drill hole WJ-08-83, located 100 m to the northeast, suggesting that this high-grade mineralization may have continuity over a larger area. This higher-grade copper zone also contains significantly higher gold values.
Tom Schroeter, President of Fjordland, stated, "The Joint Venture is extremely pleased with these results which show not only higher copper grades but also significantly enhanced gold values. The mineralization displays very even distribution and continuity, which gives us great confidence in the strength of the system and the potential for expanding the zone. It is not unusual that within large zones of economic grade open-pittable resources there are high grade centres or keels, as evidenced at Imperial Metals' Mount Polley, BC mine and at the Ridgeway Deeps mine at Cadia Hill, Australia. The Ridgeway deposit forms the underpinnings of a major company - Newcrest Mining."
The Woodjam Project is rapidly developing into an important copper-gold-molybdenum component in the Quesnel Terrane of British Columbia. The project is located 40 km east of Williams Lake, in the Cariboo region near power and a good road network. To date, four large mineralized centres have been discovered by drilling within a five-kilometer diameter circular feature. Information on the Woodjam project is available on the Company's Website at www.fjordlandex.com/woodjam_property.html.
The Joint Venture is continually reviewing other similar deposits in its evaluation of the potential of the Woodjam Project. Some examples of other porphyry deposits in the region and elsewhere are tabulated below:
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SIZE Cu Au Mo
DEPOSIT (original resources) (Mt) % g/t %
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Highland Valley - Lornex Mine, BC 425.0 0.41 0.015
(1974) - Valley Mine, BC 790.0 0.48 0.007
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Gibraltar Mine, BC (1971) 327.0 0.37 0.009
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Mount Polley Mine, BC (1992) 48.8 0.38 0.56
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Prosperity Deposit, BC (2008) 524.0 0.26 0.39
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Cadia Hill Mine, Australia (1998) 267.0 0.15 0.65
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(i) Ridgeway Mine, Australia (2002) 17.0 0.63 1.90
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(i) high-grade underground mining
Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) 2 Acid Digestion (1D) procedures, with gold and silver determined using fire assay procedures. Re-analyses of samples assaying in excess of 10,000 parts per million copper were performed by ICP-ES 4 Acid Digestion (7AR) procedures. External standards were inserted into the sample sequence at a ratio of approximately one standard per twenty-five samples. Bruce Laird, P.Geo., Mincord Exploration Consultants Ltd., is supervising the 2008 drilling program and sampling protocol. Tom 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 Inc. is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Fjordland holds a 60% interest in the 48,000-hectare Woodjam copper-gold-molybdenum property in south central British Columbia, and is operator of the project; Cariboo Rose Resources Ltd. holds the remaining 40% interest. Fjordland is also the operator in a 50%-50% joint venture with Serengeti Resources Inc. (TSX VENTURE:SIR) on the QUEST project to explore 27 properties totaling approximately 144,000 hectares in the heart of British Columbia's under-explored Quesnel Terrane for precious and base metals. Shares of Fjordland Exploration Inc. trade on the TSX Venture Exchange under the symbol "FEX". For further information visit the Company's website at www.fjordlandex.com.
Tom Schroeter, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Fjordland Exploration Inc.
John Gomez
Manager, Investor Relations
(604) 893-8365
(604) 669-8336 (FAX)
Email: info@fjordlandex.com
Website: www.fjordlandex.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
