Fjordland Exploration Inc. (TSX-V: FEX) (PINK: FEXXF) and Cariboo Rose Resources Ltd. (TSX-V: CRB) have reported on the progress of Gold Fields Horsefly Exploration Corporation’s exploration program. Since signing the Agreement, which would grant Gold Fields the option, to earn up to 70% interest in the property by spending $19 million in exploration over the next seven years, they have spent about $3 million in the first year.
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The Woodjam North gold copper project is located 45 km east of Williams Lake in British Columbia. Gold Fields has already completed regional mapping, geochemical sampling of selected areas, geological mapping and prospecting and a review of previous drill core.
About Gold Fields Limited
Gold Fields Limited is one of the world's largest unhedged producers of gold with annual attributable production of approximately four million ounces of from nine operating mines in Peru, Ghana, Australia and South Africa. The company has attributable ore reserves of approximately 83 million ounces and mineral resources of approximately 251 million ounces. In addition the company has an extensive exploration portfolio with highly prospective projects in all of the major gold provinces of the world.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Fjordland (60% interest) and Cariboo Rose Resources Ltd. (40%) comprise the Woodjam Joint Venture. Gold Fields Horsefly Exploration Corporation, a member of the Gold Fields Limited group of companies, may earn up to a 70% interest in the 40,750-hectare Woodjam North gold-copper property by spending $19 million on exploration over 7 years; a $3 million exploration program is currently in progress. The Woodjam Joint Venture, with Fjordland as operator, owns the Woodjam South property which adjoins the Woodjam North property. Fjordland and Serengeti Resources Inc. (TSX-V: SIR) each hold a 50% interest in the QUEST project to explore 11 properties totalling approximately 100,000 hectares in the heart of British Columbia's Quesnel Terrane for precious and base metals. The Mil gold property is scheduled for drilling this fall. Shares of Fjordland Exploration Inc. trade on the TSX Venture Exchange under the symbol "FEX".
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