» Summary

Of the 40,670 ha comprising the Woodjam North property only 10% has been explored by Fjordland to date. Takomkane intrusives in Takla volcanics form a contact halo producing multiple alkalic to sub-alkalic gold-copper porphyry deposits. Grades of mineralized drill intersections have a relatively high gold to copper ratio with trace amounts of molybdenum similar to Northgate Mineral's Kemess South and Kemess North deposits in northern British Columbia (Kemess South – Original Resources (1998): 202 Mt @ 0.224% Cu, 0.63g/t Au). The Kemess South Mine produces approximately 300,000 ounces of gold and 75 million pounds of copper per year. Further information about the Kemess gold-copper porphyry deposits is available at www.northgateminerals.com.

Three open-ended zones of porphyry mineralization have now been drill tested on the Woodjam property; namely the Megabuck, Deerhorn and Takom Zones. Drilling in each of the zones continue to support the property's potential to host large bulk-mineable gold+copper deposits.

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» Megabuck Zone

The Megabuck Zone is located on the flanks of a large IP chargeability high. A total of 17,236 metres of drilling in 67 holes have been drilled into the Megabuck Zone from 1974 to the present.

Mineralization in the Megabuck Zone occurs as a large, irregular and complex tabular-shaped gold-copper mineralized zone approximately 175 metres thick trending northeast and dipping approximately 45° to the southeast. Drilling has extended mineralization over 300 metres to a depth of over 400 metres.

Mineralization is consistent with a porphyry-type goId-copper style of mineralization, occurring in a complex pile of brecciated monzonite intrusives and potassic-sericitic altered volcanics and subvolcanics. Although gold and copper content of the volcanics is markedly less than that of the monzonite, it still contains up to 1.85 g/t gold. Gold-copper ratios are consistent at approximately 1g/t Au to 0.14% Cu.

The continuity of mineralization from drilling to date suggests that the system has a strong likelihood for continued expansion to the south and east and to depth. Monzonite intrudes highly altered, fractured and brecciated volcanics, containing numerous irregular monzonite lenses and fragments.

Hole No.	Interval (m)	% Cu	Au g/t
74-01	87.6	0.13	1.24
99-20	41.6	0.13	0.98
04-32	274.9	0.14	1.03
06-51	93.6	0.19	0.95
06-53	28.0	0.24	1.52

 

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» Takom Zone

The Takom Zone, located approximately 2.5 kilometres south of the Megabuck Zone, is defined by large (~ 500m x 1500m) coincident IP chargeability and copper geochemistry anomalies. The zone is underlain by hard dark grey andesitic rocks of the Takla Group volcanics composed of partly brecciated augite and feldspar porphyry flows and volcaniclastics containing patchy chlorite and argillic alteration, cut by quartz-carbonate veins. The volcanics are intruded by granodiorites, biotite-quartz diorites and monzodiorites likely related to the Takomkane Batholith.

The Takom Zone has seen a limited amount of previous drilling (18 holes totalling 3,366 m) and mostly to shallow depths. Successive drilling programs have returned progressively better results; the highest grade and most northerly hole assaying 127.4 m grading 0.13 g/t Au and 0.26% Cu, including 32.8 m grading 1.04 g/t Au and 0.45% Cu.

There is a high gold-copper corridor transecting the lower grading Takom Zone copper mineralization, apparently striking 46° and dipping 61° SE evidenced by the IP chargeability pattern and 3-point extrapolation from drill holes.

Significant drill results from the Takom Zone follow:

Hole No.	Interval (m)	% Cu	Au g/t
08-87	127.3	0.26	0.40
including	32.8	0.45	1.04
07-77	137.3	0.18	0.14
including	52.3	0.27	0.29
74-03	10.7	0.13	1.30

At this time the potential for copper-gold mineralization is open laterally and to depth.

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» Deerhorn Zone

The Deerhorn Zone is located 1.5 kilometres northeast of the Megabuck Zone. The zone is characterized by a chargeability high zone delineated by the 2007 IP survey and was drill tested in 2008 by 2 holes located 100 metres distant from each other. Gold-copper mineralization was encountered near the bedrock surface in both holes and is open in all directions. Deerhorn represents a very significant discovery because of its similar character and spatial association to the Megabuck area.

Overburden thicknesses average ~ 50 metres and outcrop is non-existent. The geology, as understood from current drilling, is a magnetite/chlorite altered quartz monzonite with grey quartz vein stockwork containing chalcopyrite mineralization.

Drill results from all holes drilled to date in the Deerhorn Zone follow:

Hole No.	Interval (m)	% Cu	Au g/t
08-92	236.2	0.10	0.13
including	47.9	0.12	0.22
including	28.5	0.21	0.54
08-93	69.0	0.22	0.50
including	15.0	0.32	0.87

 

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» Megabuck East Zone