» Summary

Exploration on the 13,827 ha Woodjam South property has focused on the Southeast Zone, where drilling has identified a large scale calc-alkalic copper + molybdenum + gold porphyry-type deposit. The core mineralized area measures 800 x 630 m and 400 m below dedrock interface; it remains open to expansion laterally and at depth.

» Southeast Zone

The Southeast Zone is defined by a discrete 2 x 1 kilometre chargeability anomaly on the flanks of a magnetics high during a regional scaled IP survey completed in 2007.

Drilling on the Southeast Zone has defined the known mineralization as a "Highland Valley" style copper-gold-molybdenum calc-alkalic deposit wholly within the Takomkane intrusives. Re-Os dating on a sample of molybdenum taken in the Southeast Zone dated the deposit at 196.9 ± 0.9 Ma. The Highland Valley deposit has been dated at 191.3 ± 4 Ma to 202 ± 8 Ma.

Results from drilling of the Southeast Zone indicate a rich copper-gold body within a larger copper-molybdenum envelope. The large volume of copper-molybdenum mineralization with minimal pyrite so far encountered suggests mineral zonation of a very large calc-alkalic porphyry system.

Grades encountered are comparable to that found at the nearby Gibraltar Mine located approximately 60 kilometres to the northwest. The Gibraltar Mine has currently published (Measured and Indicated) Reserves (2011): 950.3 Mt @ 0.30% Cu, 0.008% Mo (0.2% Cu cutoff).

In 2010 Gold Fields spent $2 M on exploration on Woodjam South. In 2011 Gold Fields initiated a $5 M exploration program and intends on completing a NI43-101 compliant resource by the end of the current year.