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FEX Fjordland Exploration Inc

0.02
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Fjordland Exploration Inc TSXV:FEX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.02 0.015 0.02 0 16:15:40

Fjordland and Serengeti Consolidate Adjoining Properties into "Milligan West" Project, Central British Columbia

28/02/2013 11:30am

Marketwired Canada


Fjordland Exploration Inc. (TSX VENTURE:FEX) and Serengeti Resources Inc. (TSX
VENTURE:SIR) are pleased to announce that they have consolidated their adjoining
Milligan South (100% FEX) and Mil (SIR-65%/FEX-35%) properties into a single
project (50%/50% JV), "Milligan West" (the "Property"), via an amendment to the
previous QUEST Joint Venture agreement, dated February 21, 2008 between
Fjordland and Serengeti. The Property, comprising 15,736 hectares (ha), is
located approximately 160 kilometres (km) northwest of Prince George, BC, and
adjoins the western boundary of Thompson Creek Metals Ltd's Mt. Milligan
copper-gold project, which is scheduled to commence production later this year,
following a capital investment estimated at $1.5 billion.


Previous work on the Mil property (part of the QUEST JV) included airborne
magnetic, ground induced polarization (IP) surveys, geochemical soil surveys, as
well as three shallow diamond drill holes in 2009 totaling 790 metres (m).
Drilling tested a very small proportion of a very large (22 km by 2-3 km)
coincident IP chargeability and magnetic anomaly. One drill hole bottomed in a
strongly altered zone that assayed 0.15% Cu over the final 6 m. In addition,
soil survey results yielded coincident copper and gold anomalies. Additional
drilling is warranted.


Previous work on the Milligan South included airborne magnetic, ground IP
surveys, geochemical soil surveys, as well as two very shallow diamond drill
holes totaling 230 m by a prior operator. Drilling tested two of three separate,
coincident magnetic and IP anomalies, along with coincident copper and gold soil
anomalies. The Companies believe that the drilling may not have intersected the
target and that additional drilling is warranted.


Fjordland and Serengeti are currently compiling all previous exploration data
for the Mil and Milligan South properties into a single database for the
Property. In light of the current market conditions, the Companies have elected
to seek a Joint Venture partner to advance the consolidated Project.


Tom Schroeter, President & CEO of Fjordland, commented, "This consolidation of
the respective properties into a single entity now provides an attractive
exploration package available for immediate joint venture in the high-profile
Mt. Milligan camp. Fjordland and Serengeti have spent the past six years
assembling and exploring for copper-gold porphyry targets in the area and are
well experienced in the techniques required for the discovery of additional
deposits in this developing camp."


About Fjordland Exploration

Fjordland Exploration Inc. 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 100% interest in 5
properties known as "Tak" totaling 45,828 ha in the Woodjam area of central BC.
Fjordland and Serengeti Resources Inc. (TSX VENTURE:SIR) are 34.8%/65.2%
partners exploring 11 properties (QUEST Project) totaling 49,753 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 5 properties totaling 22,064 ha. Fjordland has a
100% interest in 2 properties totaling 17,657 ha in the Iron Range in
southeastern BC. Fjordland has an option to acquire a 100% interest in the
Dillard and Dill copper and gold properties, north of Princeton. Fjordland's
shares trade on the TSX Venture Exchange under the symbol "FEX".
www.fjordlandex.com.


T.G. Schroeter, P.Eng./P.Geo. and David Moore, P.Geo., who are qualified persons
within the context of National Instrument 43-101, have read and take
responsibility for this news release.


Tom Schroeter, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Fjordland Exploration Inc.
John Gomez
Manager, Investor Relations
604-893-8365
604-669-8336 (FAX)
www.fjordlandex.com

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