» Location

The Woodjam Property is located at and around the village of Horsefly, situated approximately 45 kilometres east of the City of Williams Lake, in the Cariboo Mining Division of central British Columbia. The claims encompass low elevation, relatively flat terrane and is easily road accessible and workable on a year-round basis.

» Ownership

The Woodjam Property consists of 122 mineral claims with a total area of 480 square kilometers. The property is owned 60:40 by Fjordland Exploration Inc and Cariboo Rose Resources Ltd respectively making up the Woodjam Joint Venture.

On 28 May 2009 Gold Fields Netherlands Services BV, an affiliate of Gold Fields Ltd. was awarded an option to earn an initial 51% interest in a portion of the property referred to as "Woodjam North" by expending $7 million in exploration and making $350,000 in cash payments to the Joint Venture over a three year period with a minimum expenditure of $1 million in the first year. Gold Fields may extend the option to earn a further 19% interest in the Woodjam North property by funding a further $12 million in exploration over a 4-year period. Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of four million ounces per annum from nine operating mines in Peru, South Africa, Ghana and Australia.

The Woodjam North property includes the Megabuck, Megabuck East, Takom and Deerhorn Zones and a large tract of claims to the north, west and east of those targets, encompassing an area of 405 square kilometres. The option excludes the recently discovered Southeast copper-gold-molybdenum Zone, as well as claims to the south and southwest of the Takom target, totaling an area of 75 square kilometres referred to as "Woodjam South".

» Geology & Mineralization

The property is located within the Quesnel Trough, a large regional depositional belt extending 2,000 kilometres from the U.S. border in the south to the Stikine River in the north. The belt hosts several large tonnage "porphyry type" deposits including New Gold's New Afton deposit, Imperial Metals' Mount Polley Mine, Teck's Highland Valley Copper Mine, Taseko's Gibraltar Mine, Terrane Metals' Mt. Milligan deposit and Northgate's Kemess Mine.

Large areas of higher chargeability with coincidental low resistivity IP signatures define the property's mineralized zones tested to date. The mineralized trend is associated with regional scale northeast trending magnetic highs demarcating the alteration zone produced by the contact of the Takla volcanics with the Takomkane intrusives. The magnetic highs extend southwest of known mineralized zones onto previously unexplored ground recently acquired by the Woodjam Joint Venture.

The Woodjam North Property hosts several gold+copper alkalic porphyry-type deposits including the Megabuck, Takom, and Deerhorn Zones. The gold+copper style mineralization occurs within contact aureoles of monzonitic intrusive bodies intruding Takla volcanic rocks.

The Woodjam South Property hosts the Southeast Zone, a large scale calc-alkalic copper+molybdenum+gold porphyry-type deposit. The Southeast Zone is wholly within dioritic to monzonitic intrusive rocks of the Takomkane Batholith.

» History

The first gold found in the Cariboo was along the Horsefly River in 1859 and many small sniping operations (unregistered) removed large amounts of placer gold. A second gold rush period hit the Horsefly area in 1887. By the early 1900's placer gold operations were common throughout the Quesnel Belt.

In the 1960s, a wave of exploration for porphyry copper deposits swept through the area. A small hand trench on the northern slope of the small knoll located on the Megabuck Zone is the earliest testament to exploration in the area covered by the current claims.

By the year 2000 twenty three short drillholes totaling 2.4 kilometres had tested the Megabuck and Takom Zones by companies including Placer, Noranda and Phelps Dodge. Fjordland and Cariboo Rose acquired and began work on the property in 2001. To date, Fjordland has completed 212 kilometres of ground magnetics and IP on the property as well as 27 kilometres of diamond drilling in 90 holes.