From Lawerence RoulstonHere is a great summary and overview of the potential of this company.
Fjordland Exploration
FEX-TSXV)
Fjordland's primary exploration project is the Woodjam gold-copper
project in the Cariboo region of central British Columbia. Earlier work in the Woodjam area turned up three gold-copper-mineralized zones --
Megabuck, Takom and Spellbound -- all related to a large alkalic
gold-copper porphyry system. Fjordland's exploration team was attracted to the project by the potential to identify a substantial deposit within the large mineralized area outlined by the earlier drilling.
Drilling on the project now held by Fjordland, starting in the 1970s,
produced encouraging results. However, it was not until the last couple of years that British Columbia projects like Woodjam have begun to gain investor attention.
Fjordland has a 60% interest in Woodjam while Cariboo Rose Resources
(CRB-TSXV) a company that has seen its share price soar on results from the Spanish Mountain project, 40 kilometers north of Woodjam, has a 40% interest in the project. Drilling at Spanish Mountain is outlining a broad zone that carries just over 1 gram per tonne of gold. In June 2004, Fjordland intersected 275 meters grading 1.03 grams per tonne gold plus 0.14% copper. Woodjam is road accessible, at low elevation and can be worked year-round.
The Woodjam property is 35 kilometers south of Imperial Metals' Mr.
Polley mine and 60 kilometers southeast of Taseko's Gibraltar mine,
both of which are also based on porphyry deposits. Northgate's Kemess
South mine, located in a remote location approximately 600 kilometers
northwest of Woodjam, produces 300,000 ounces of gold and 75 million
pounds of copper per year. Proven and probable reserves total 86
million tonnes at a grade of 0.67 gram per tonne gold and 0.22% copper. At that grade, and in a remote location, the Kemess mine generated US$41.8 million of operating cash flow in the most recent quarter.
Fjordland's new president Tom Shroeter has more than thirty years
experience as a government geologist focused on British Columbia and
has received various awards for his work. The directors bring
considerable mining industry experience and success.
Recent work by Fjordland has focused mainly on the Megabuck Zone, which was discovered in 2004 by drilling a geochemical anomaly. Trenching and drill intersections have outlined a large mineralized system at Woodjam.
The 2005 program was primarily intended to test new zones and succeeded in discovering the Takom zone, 2 kilometers south of the first discovery. Drilling in 2006 encountered significant mineralization at the Megabuck zone, with hole 06-51 grading 0.95 g/t gold and 0.19% copper in an area 50 meters south of previous drilling, and hole 06-53 returning 1.52 g/t gold and 0.23% copper. The gold-copper system outlined by drilling to date at Megabuck remains open to depth and is also open laterally.
Induced polarization and magnetic geophysical surveys are underway on
the company's Takom zone. Drill results from 2006 indicate the
potential for an underlying large porphyry system. Takom is defined by
a 2 kilometer by 1 kilometer soil geochemical anomaly. Upon completion
of the surveys, drilling is planned later this summer.
Fjordland has recently entered into a joint venture agreement with
Serengeti Resources (SIR-TSXV) on the Tezz property in northern British Columbia. Sampling by government geologists has identified strong gold-copper values in stream samples on the property. The property is located 40 kilometers south of Prince George and adjoins ground recently staked by NovaGold resources.
In July 2006, the company optioned an 80% interest in the Olympic-Rob
IOCG deposit in the Yukon. The initial drill program conducted on the
Olympic Property in 1997 by Commander Resources tested only 6 of many
potential targets located within the ten square kilometers of
prospective breccia on the project. Significant copper mineralization
has also been mapped on surface. The high grade copper values
encountered in the surface trenching are similar to copper grades and
thicknesses encountered in early drill holes peripheral to the Olympic
Dam ore body. A $600,000 drill program is scheduled to begin in June.
Based on the earlier drilling success, the company is well positioned
to continue to generate favorable results at Woodjam. Successful
results on the company's other projects should bring additional
attention to this under-valued company.
Price May 10, 2007: C$0.255
Shares Outstanding: 46 million
Shares Fully Diluted: $54 million
Market Cap: C$12 million
Contact: John Gomez, Investor Relations
604-893-8365
www.fjordlandex.com