Gold Fields Resumes Drilling at Woodjam North, B.C

Vancouver, BC – February 10, 2010: Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), the Woodjam Joint Venture (‘WJV’) 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)) 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 (see January 12, 2010 News Release for details).

Gold Fields plans to complete 3,000 to 4,000 m of drilling in approximately 12 holes. At Takom, four holes (~ 1,200 m) are planned to follow up on significant drill intersections obtained 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 (~ 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 test geochemical and magnetic anomalies east of the Megabuck and north of the Southeast zones, respectively — 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.”

Gold Fields has an option to earn up to a 70% interest in the Woodjam North Property by spending $19 million in exploration by July 2016 (see July 30, 2009 News Release for details).

G. L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

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.

Category: Press Releases · Tags:

Comments are closed.