Gold Fields Announces Woodjam North Drill Results
Vancouver, BC, April 21, 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 forwarded the first results of the 2010 drilling program on the Woodjam North gold-copper property, located 45 kilometres east of Williams Lake in central British Columbia.
The program recommenced in early February in the Takom Zone where seven holes totaling 2,330.5 m were completed and the results are reported herein. The drill then moved to the Deerhorn Zone where eight new holes totaling 2,459.4 m have recently been completed with results pending. Drilling is continuing on the Deerhorn Zone and will shortly move to the Spellbound target area east and southeast of Deerhorn where there has been no previous drilling.
Takom Zone Drilling
Drilling in the Takom Zone area was directed at defining the geometry of the mineralized diorite intrusion intersected in previous drilling as well as step out drilling to explore for new mineralized areas. Previous drilling indicated a zone of high gold to copper ratio mineralization, similar to the Megabuck and Deerhorn Zones to the north, that follows a northeasterly-trending positive magnetic feature. Drill hole TK10-12 intersected 148.0 m grading 0.40 g/t gold and 0.26% copper (including 61.9 m grading 0.82 g/t gold and 0.41% copper). Drill holes TK10-13 through 16 were also drilled along this trend and all intersected copper-gold mineralization (see attached table of drill results). Gold Fields anticipates further drilling in this area to vector the high-grade mineralization in the core of the target.
New Southeast Zone Style Discovery at Takom
Drill hole TK-10-17 was drilled into a magnetic low area southeast of the Takom main magnetic zone, and discovered a new area of mineralization associated with a Takomkane quartz monzonite intrusion. This is younger-aged mineralization than Takom/Megabuck/Deerhorn, and is similar in style to the Southeast Zone two km to the east on the Woodjam South Property where all 18 drill holes to date have intersected significant copper-gold-molybdenum mineralization. Hole TK10-17 returned 50 m of 0.17% copper with anomalous molybdenum, similar to the first holes on the periphery of the Southeast Zone and which now opens up a large new target area for further drilling. This hole also lies near the western end of an east-west-trending gravity anomaly that encloses the Southeast Zone.
New Takom Area Discovery
Drill hole TK10-18 stepped out 450 m southward from previous Takom Zone drilling and tested an area where epidote-tourmaline altered and hydrothermally brecciated volcanic rocks are coincidental with a copper-in-soil anomaly. The hole was lost due to ground conditions at 194 m, however 24.0 m of 0.18% copper was intersected near the end of the hole. This represents a new area of mineralization where there has been no previous drilling adding significantly to the potential of the property. This hole is near the northern boundary of the adjacent Woodjam South property.
Takom Zone: Summary of Significant Intercepts
| Hole ID* |
From (m)* |
To (m)* |
Interval (m)* |
Cu% |
Au g/t |
Au Eq. g/t* |
| TK10 12 |
67.00 |
215.00 |
148.00 |
0.26 |
0.40 |
0.92 |
| including |
108.10 |
170.00 |
61.90 |
0.41 |
0.82 |
1.63 |
| TK10-13 |
174.00 |
248.00 |
74.00 |
0.15 |
0.16 |
0.46 |
| including |
174.00 |
200.00 |
26.00 |
0.20 |
0.30 |
0.70 |
| TK10-14 |
103.00 |
147.00 |
44.0 |
0.11 |
0.05 |
0.27 |
| TK10-15 |
10.51 |
60.00 |
49.49 |
0.11 |
0.04 |
0.26 |
| TK10-16 |
114.30 |
147.6 |
33.30 |
0.13 |
0.07 |
0.33 |
| TK10-17 |
29.00 |
79.00 |
50.00 |
0.17 |
0.05 |
0.39 |
|
168.00 |
202.00 |
34.00 |
0.14 |
0.07 |
0.35 |
|
|
237.00 |
294.00 |
57.00 |
0.10 |
0.03 |
0.23 |
|
| TK10-18 |
159.00 |
183.00 |
24.00 |
0.18 |
0.03 |
0.39 |
Management of Cariboo Rose and Fjordland are very pleased with these recent results as drilling continues to expand on the tremendous potential in what is now clearly a large cluster of mineralized intrusions throughout an area of at least 20 square km, covering only a small portion of the little explored property.
Gold Fields has an option to earn up to a 70% interest in the Woodjam North Property by spending $19 million in exploration over the next seven years (see July 30, 2009 News Release for details). Gold Fields budgeted approximately $3 million for the first-year work program including drill testing, IP geophysical surveying, soil geochemistry and high resolution airborne geophysical surveying on the 40,750-hectare property.
Additionally, Cariboo Rose and Fjordland look forward to completing the Woodjam South property Agreement with Gold Fields (see January 15, 2010 News Release for details) and commencing an extensive exploration program on this potentially very significant copper-gold-molybdenum property. The best assay result from previous drilling on the Southeast Zone is 200.76 m grading 1.01% Cu and 0.44 g/t Au.
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. Gold Fields, as operator of the exploration program has quality assurance-quality control procedures in place.
Glen Garratt, P.Geo.
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.
