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Gold Fields Drilling at Woodjam North, British Columbia

Posted by on Wednesday, November 18, 2009 · Leave a Comment 

Vancouver, BC, November 18, 2009 – Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), Woodjam Joint Venture 40%/60% partners, are pleased to report that Gold Fields Horsefly Exploration Corporation (a member of the Gold Fields Limited group of companies (NYSE: GFI)) commenced drilling on October 10th on the Woodjam North gold-copper property, located 45 kilometres east of Williams Lake in central British Columbia.

To date, approximately 3,300 metres of drilling has been completed on the Takom Zone, following up a 2008 intersection grading 0.34% copper and 0.6 g/t gold over 72 metres, as well as a small portion of the much larger 3-kilometre wide induced polarization anomaly. The planned 6,000-metre diamond drilling program is designed to initially test the extent and depth potential of the existing Takom and Deerhorn gold-copper occurrences. Additional drilling will be designed to test IP, magnetic and geochemical anomalies identified from new data generated from the 2009 surveys.

As of mid-November, Gold Fields has completed the following additional exploration:

  • Geological mapping over all areas covered by soil and induced polarization (IP) surveys;
  • Approximately 85 line-kilometres of line-cutting and an induced polarization survey, at 100 metre line-spacing, over the Corner Lake grid, which extends northwards from the Megabuck and Deerhorn Zones;
  • Approximately 90% of a planned 5,000 line-kilometre airborne magnetic-radiometric survey, on lines spaced 100 metres apart;
  • 500 gravity stations on a nominal 250 metre spacing with local more detailed 100 metre nominal spacing over the Takom area;
  • Soil sampling survey consisting of 4,250 samples collected over the Takom-Corner Lake grid;

Gold Fields has an option to earn up to a 70% interest in the property by spending $19 million in exploration over the next 7 years (see July 30, 2009 News Release for details). Gold Fields has budgeted approximately $3 million for the first-year work program of the option agreement on the 40,750-hectare property.

Glen Garratt, P.Geo.

VP Exploration, Director
Cariboo Rose Resources Ltd.

The TSX – Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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