Gold Fields Resumes Drilling at Woodjam North

 

VANCOUVER, BC - Fjordland Exploration Inc. and Cariboo Resources Ltd., the Woodjam Joint Venture ("WJV") 60%/40% partners, are pleased to report that Gold Fields Horsefly Exploration Corporation has resumed drilling on the 40,750-hectare Woodjam North gold-copper property, located 45 km east of Williams Lake in central British Columbia. This Phase Two, winter 2010 drilling program is a continuation of a budgeted $2.5 million, 12-month program which began in July 2009. Phase One drilling between October and December, 2009 consisted of 14 holes totalling 4,582 m on the Takom (11 holes) and Deerhorn (3 holes) zones.

Gold Fields plans to complete 3,000 to 4,000 m of drilling in approximately 12 holes. At Takom, four holes (approximately 1,200 m) are planned to follow up on significant drill intersections obtained from holes WJ07-77, WJ08-87, TK09-001 and TK09-008 and 010, over a northeasterly mineralized trend measuring over 500 m in strike. Within this trend, hole TK09-001 returned 329.6 m grading 0.24% Cu and 0.27 g/t Au, including 101 m grading 0.43% Cu and 0.58 g/t Au.

At Deerhorn, four holes (approximately 1,200 m) are planned to follow up significant drill intersections from four of five holes completed to date on this zone discovered in 2008. Hole WJ08-93 returned 69 m grading 0.22% Cu and 0.5 g/t Au, and DH09-003 returned 173 m grading 0.12% Cu and 0.50 g/t Au, including 89.5 m grading 0.26% Cu and 1.17 g/t Au. The remainder of the proposed drilling (four holes) is planned to investigate previously untested geochemical and magnetic anomalies east of the Megabuck and north of the Southeast zones, respectively Ð an area referred to as Spellbound.

Preliminary results from a 9,114 line-km low-level, high resolution airborne magnetic survey, an 85 line-km induced polarization survey and a 4,250-sample soil survey have resulted in the identification of several additional targets for future drill testing, including the Corner Lake area, north of the Megabuck and Deerhorn zones.

Tom Schroeter, President of Fjordland commented, "The Phase One program recently completed by Gold Fields has provided additional significant drill assays from the Takom and Deerhorn zones, as well as identifying several new target areas ready for drill testing. We are very pleased to see the resumption of a winter drilling program, demonstrating Gold Fields commitment to the project, as well as the ability to work year-round in this easily-accessible region of BC."

The company’s address is 510 Burrard Street, Suite 510, Vancouver, BC V6C 3A8, (604) 893-8365, fax: (604) 669-8336.