🕐28.02.12 - 19:27 Uhr
FJORDLAND PROVIDES UPDATES ON BRITISH COLUMBIA PROJECTS
Fjordland Exploration Inc.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
Canada V6E 3V6
www.fjordlandex.com
NEWS RELEASE
Fjordland Provides Updates on British Columbia Projects
Drilling Planned on Multiple Projects in 2012
Vancouver, BC, February 28, 2012 - Fjordland Exploration Inc.
(TSX-V:
FEX) is pleased to provide updates
on its numerous projects in British Columbia.
The Company has interests in
a total of 25 copper-gold properties in some of BCs most prolific mining
camps.
Its strategic land position in the Quesnel Terrane porphyry belt has
attracted joint ventures with some of the worlds leading mining companies
that are funding exploration on several properties.
To date, drilling
programs are tentatively planned on 8 properties during 2012.
Tak-Milligan (51% Fjordland/49% Capstone Mining Corp.
[TSX: CS]:
As reported in a news release dated February 9, 2012, Capstone has approved
a budget and work program for the Phase 4, 2012 exploration program for the
Tak Project, part of the Tak-Milligan Property Option.
The claims are
located approximately 50 kilometres (km) east of Williams Lake, immediately
south of the developing Woodjam Copper-Gold-Molybdenum Porphyry Camp.
Early
work will include further reconnaissance and in-fill induced polarization
(IP) surveys and follow-up drilling on selected targets, particularly on the
Moffat and Tisdall properties.
QUEST (37% Fjordland/63% Serengeti Resources Inc.) [TSX-V: SIR]:
As reported in a news release dated September 21, 2011, Fjordland and
Serengeti entered into an Option Agreement with Xstrata Copper Canada to
explore six properties (Rob, Ping, Reid Lake, ST, PG and MP), totaling
27,690 hectares, located in the Quesnel Trough porphyry copper-gold belt
between the Mt.
Milligan copper-gold deposits to south of Prince George in
central BC.
These properties are part of the original Joint Venture between
FEX and SIR; all are considered prospective for hosting porphyry copper-gold
deposits and several have drill targets identified as a result of
exploration by FEX and SIR of $1.7 million between 2007 and 2011.
Xstrata
Copper has several properties in the region and is conducting a large
exploration program, including drilling, principally on geophysical and/or
geochemical targets in overburden-covered areas.
Work during late 2011 and
early 2012 by Xstrata under the Option Agreement was focused on defining
drill targets for this spring.
Under the original QUEST JV between FEX and
SIR, seven original properties totaling 22,480 ha remain in the package.
Dillard (Option to Earn a 100% Interest):
As reported in a news release dated August 31, 2011, Fjordland signed a
Letter Agreement with private vendors for the 2,192-hectare, road-accessible
Dillard Property, located in southern BC, 35 km north of Princeton, where
Copper Mountain Mining Corp.
recently put the Copper Mountain (Similco)
copper-gold-silver mine back into production.
The Dillard Property has been
recently extensively logged, resulting in the exposure of numerous new
copper showings.
Additional prospecting during the fall led to the
identification of new zones of copper mineralization.
The assay results from
samples collected during these activities will be incorporated into a major
compilation of previous geological, geochemical and geophysical work
completed on the Property by several operators.
There has been no drilling
on the Property; however, preliminary indications are that drill targets
should be identified early in 2012; drilling could take place later in the
year.
Dill (Option to Earn a 100% Interest from Almaden Minerals Ltd.) [TSX: AMM]:
As reported in a news release dated February 7, 2012, Fjordland signed an
Option Agreement with Almaden Minerals to acquire a 100% interest in the
400-hectare Dill Property, which adjoins Fjordlands Dillard Property to the
east.
Previous drilling on this porphyry copper-gold target by various
operators between the 1960s and 1992 resulted in several long intercepts of
copper mineralization which were never followed up.
The Company believes
that a thorough compilation of previous geological, geochemical and
geophysical surveys, combined with previous drilling results, will provide
an excellent base for conducting follow-up, detailed surveys.
Drilling is
anticipated later in 2012.
Iron Range (100% Ownership):
In December, 2010, the Company staked 8 properties totaling 60,047 ha in the
Iron Range area of southeastern BC.
All but two of the properties (St.
Mary
and Bootleg), totaling 17,657 ha, were allowed to lapse in December, 2011.
Kimberley Gold Trend (Option to Earn a 60% interest with Kootenay Gold Inc.)
[TSX-V: KTN]:
After conducting exploration programs totaling in excess of $700,000 on all
seven of the properties that comprised the Option Agreement with Kootenay
Gold Inc.
in the Kimberley Gold Trend in southeastern BC, the Company
decided to terminate the Option Agreement and focus on its other properties.
Tom Schroeter, President of Fjordland commented: "We have built up our land
packages in some of the most productive areas in BC and have leveraged our
resources with option agreements with other parties, as well as acquiring
additional ground ourselves.
We look forward to a very active exploration
season during 2012, including drilling on 8 properties."
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 25 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 2 properties totaling 17,657 ha in the Iron Range area in
southeastern BC.
Fjordland has an option to acquire a 100% interest in the
adjoining Dillard and Dill copper and gold properties, north of Princeton.
Fjordlands shares trade on the TSX Venture Exchange under the symbol "FEX".
For further information visit Fjordlands website at
www.fjordlandex.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.