🕐17.01.12 - 17:54 Uhr
FJORDLAND FINDS COPPER AND GOLD AT MOFFAT
Fjordland Exploration Inc.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
Canada V6E 3V6
www.fjordlandex.com
NEWS RELEASE
Fjordland Reports Copper-Gold Mineralization in Reconnaissance Drilling at
Moffat Project, British Columbia
Vancouver, BC, January 17, 2012 - Fjordland Exploration Inc.
(TSX-V:
FEX) is pleased to report it has
encountered copper-gold mineralization in four widely-spaced drill holes on
its 24,974 hectares Moffat Property in central British Columbia.
The
Company completed 1,135 metres of drilling to test large coincident induced
polarization (IP) and geochemical soil anomalies in the northwestern portion
of the road-accessible Moffat Property.
Located approximately 50 kilometres
east of Williams Lake, the Property is one of nine properties comprising
Fjordlands Tak-Milligan Project, under option to Capstone Mining Corp.
(TSX: CS).
Moffat Drilling Results:
Hole ID
>From (m)
To (m)
Int.
(m)
Cu%
Au g/t
Mo%
MOF11-02
184.9
190.7
5.8
0.15
0.18
MOF11-03
69.0
276.5
207.5
0.02
0.03
Including
138.1
140.5
2.4
0.22
0.91
0.001
MOF11-04
20.7
273.4
252.7
0.01
0.01
MOF11-05
65.2
66.5
1.3
0.12
0.05
and
252.0
261.9
9.9
3.52
The holes were collared between 1,000 m to 1,400 m apart, over an
overburden-covered area approximately 2,000 m in length and 2,000 m in
width.
Varying quantities of disseminated and/or fracture/vein-hosted
chalcopyrite and pyrite mineralization was encountered in all four holes.
The sulphide mineralization is hosted within potassically-altered and
magnetite-rich dioritic to monzodioritic phases of the Takomkane batholith
and Nicola Group volcaniclastic rocks.
In hole MOF11-02, disseminated and veinlet-hosted chalcopyrite and pyrite
mineralization is hosted in a propylitic-altered monzodiorite.
Better grade
copper and gold mineralization is associated with zones of moderate to
strong potassic alteration consisting of pervasive potash feldspar and
quartz and strong secondary biotite plus magnetite alteration.
In hole MOF11-03, disseminated and veinlet-hosted chalcopyrite and pyrite
mineralization is hosted in fresh to altered monzonite to monzodioirite.
Better grade copper-gold-molybdenum mineralization is associated with zones
of strong quartz-sericite alteration; lower grade mineralization is
associated with zones of albite-chlorite-epidote alteration.
In hole MOF11-04, trace veinlet-hosted and disseminated chalcopyrite
mineralization is hosted in variably altered chloritic and sericitic
tuffaceous sandstone/siltstone of the Nicola Group volcaniclastic rocks.
In hole MOF11-05, veinlet-hosted chalcopyrite mineralization is hosted
within potassically-altered monzonite.
Better grade copper-gold-molybdenum
mineralization is associated with zones of strong potassium feldspar,
quartz, secondary biotite and magnetite alteration.
Towards the bottom of
the hole, an 9.9-m interval assayed 3.52 g/t Au, 57 ppm Cu and 13 ppm Mo,
including a 3.75-m interval assaying 7.04 g/t Au, 66 ppm Cu and 2 ppm Mo.
Tom Schroeter, President of Fjordland commented: "We are excited to have
encountered widespread copper-gold-molybdenum mineralization in the initial
drilling of only a small portion of the large Moffat Property.
We will now
design the next phase of the exploration program to include infill and
step-out geophysical and geochemical surveying, to help define additional
drilling targets for this summer."
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 with 38 properties.
It has a 51%
interest in 7 properties known as "Tak" totaling 55,654 ha in the Woodjam
area of central BC.
Fjordland has a 51% interest in two properties known as
"Milligan" totaling 2,192 ha, adjoining Thompson Creek Metals Company Inc.s
(NYSE: TC and TSX:
TCM) Mt.
Milligan copper-gold
deposits on the west.
Capstone Mining Corp.
(TSX:
CS) owns a 49% interest in the combined
Tak-Milligan Project.
Fjordland and Serengeti Resources Inc.
(TSX-V:
SIR) are 37%/63% partners exploring
13 properties (QUEST Project) totaling 50,170 ha in the Quesnel Terrane
north of Woodjam for precious and base metals.
Six of the QUEST properties
(totaling 27,690 ha) have been optioned to Xstrata Copper; the QUEST JV owns
100% of the remaining 7 properties totaling 22,480 ha.
Fjordland has a 100%
interest in 8 properties totaling 60,047 ha in the Iron Range area and has
an option agreement on 7 properties totaling 21,222 ha with Kootenay Gold
Inc.
(TSX-V: KTN) in southeastern BC.
Fjordland has an option to acquire a 100% interest in the Dillard copper and
gold property, north of Princeton.
Fjordlands shares trade on the TSX
Venture Exchange under the symbol "FEX".
For more information visit
Fjordlands website at www.fjordlandex.com.
About Capstone Mining Corp.
Capstone Mining Corp.
is a Canadian mining company with two producing copper
mines, the Cozamin copper-silver-zinc-lead mine located in Zacatecas State,
Mexico and the Minto copper-gold-silver min in Yukon, Canada.
In addition,
Capstone has two development projects, the large scale 70% owned Santo
Domingo copper-iron-gold project in Chile in partnership with Korea
Resources Corporation and the 100% owned Kutcho copper-zinc-gold-silver
project in British Columbia, as well as exploration properties in Chile,
British Columbia and Australia.
Using its cash flow and strong balance as a
springboard, Capstone aims to grow organically through mineral resource and
reserve expansions and through acquisitions in politically stable,
mining-friendly regions.
Capstone is included in the S&P/TSX Composite Index
and S&P/TSX Global Mining Index.
Additional information is available at
www.capstonemining.com.
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
Contact: John Gomez
Manager, Investor Relations
Tel.
604-893-8365
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.