Final 2011 Drill Results
Final 2011 Drill Results Indicate New Discovery Potential at Woodjam North
Vancouver, BC, January 24 , 2012– Consolidated Woodjam Copper Corp. (“Woodjam Copper”) (TSX-V: WCC) is pleased to report that Gold Fields Horsefly Exploration Corporation (“Gold Fields”) a subsidiary of Gold Fields Limited (NYSE: GFI) , has forwarded results from the final 2011 drilling on the Woodjam North property at Horsefly, BC, 45 km east of the City of Williams Lake, BC. The management and directors of Woodjam Copper are very pleased with the results of the 2011 program on both the Woodjam North and South properties and are particularly excited about the potential for the Megabuck East Target area. A map can be viewed here: NR map Jan 24 12
Four areas were targeted with a total of 12 core holes totaling 3,928.05 m. Four holes, MB11-01, 02, 03 and 04 were located in the Megabuck Zone. MB11-03 was abandoned at 49 m, 2.0 m into bedrock and MB11-02, was an exploration step-out 130 m southeast of the zone and had no significant intercepts. Holes MB11-01 and 04, drilled to collect metallurgical samples, intersected significant mineralization typical of the Megabuck Zone and the highlights are shown in the table below.
Reconnaissance drilling in the area between the Megabuck and Deerhorn Zones resulted in the completion of three holes in what is being called the Megabuck East Target. Holes ME11-02 and 03 intersected a number of narrow mineralized zones, which carried high copper values that display the same character and style of mineralization as the Megabuck Zone and indicate a strong potential for the discovery of a new zone. These holes are step-outs of 200 to 500 m northeast of the Megabuck Zone. Hole ME11-01 was a large step-out southeast of the Deerhorn Zone and did not intersect significant values.
Two holes, DH11-35 and 36 were step-outs on the Deerhorn Zone. Holes DH11-35 and 36 were located along the northeastern edge of the Deerhorn magnetic anomaly and intersected long intervals of copper mineralization associated with a zone of lower gold values than in the main part of the Deerhorn Zone characterized by previously reported hole DH11-32 which intersected 207.5 m grading 1.00g/t gold and 0.18% copper, including 90 m grading 1.90g/t gold and 0.29% copper. Hole DH11-34 was a large step-out to the southeast of the Deerhorn Zone and did not intersect significant mineralization.
| Hole ID |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Cu Equiv. (%) |
Au Equiv. (g/t) |
| MB11-01 |
65.00 |
245.00 |
180.00 |
0.09 |
0.59 |
0.42 |
0.75 |
| including |
108.20 |
160.00 |
51.80 |
0.13 |
0.88 |
0.62 |
1.12 |
| MB11-04 |
102.00 |
398.00 |
296.00 |
0.10 |
0.42 |
0.34 |
0.61 |
| including |
140.00 |
222.24 |
82.24 |
0.09 |
0.47 |
0.35 |
0.64 |
| including |
236.09 |
358.00 |
121.13 |
0.12 |
0.54 |
0.42 |
0.75 |
| ME11-02 |
71.32 |
98.00 |
26.68 |
0.49 |
0.03 |
0.51 |
0.92 |
|
282.00 |
340.00 |
58.00 |
0.59 |
0.02 |
0.61 |
1.09 |
|
| ME11-03 |
90.70 |
134.00 |
43.30 |
0.36 |
0.21 |
0.48 |
0.86 |
|
157.00 |
228.80 |
71.80 |
0.14 |
0.12 |
0.20 |
0.37 |
|
| including |
157.00 |
195.00 |
38.00 |
0.20 |
0.14 |
0.28 |
0.50 |
| DH11-35 |
48.00 |
137.00 |
89.00 |
0.34 |
0.09 |
0.39 |
0.70 |
| DH11-36 |
123.00 |
219.00 |
96.00 |
0.17 |
0.11 |
0.23 |
0.41 |
Notes: Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb Cu, US$950/oz Au and the formula: ((%Cu x 22 x Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz))/(Price Cu/lb x 22). * = end of hole. Metallurgical recoveries and net smelter returns are not considered. MB = Megabuck Zone; ME = Megabuck East Target; DH = Deerhorn Zone.
Gold Fields has informed Woodjam Copper that it will provide it with a 43-101 compliant inferred resource for the Southeast Zone in the first quarter of 2012.
Gold Fields can earn up to a 70% interest in both properties by completing $35 million dollars in exploration over a 7.5 year term, purchasing $500,000 worth of Fjordland Exploration Inc. (TSX-V: FEX) and Cariboo Rose Resources Ltd. (TSX-V: CRB) shares (completed) and providing Woodjam Copper with a comprehensive feasibility study of all known deposits in the Woodjam South Property.
Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. Glen Garratt, P.Geo. and Tom Schroeter, P.Eng./P.Geo. are the qualified persons within the context of National Instrument 43-101, who have read and taken responsibility for this news release.
Glen Garratt, P.Geo, Director.
Consolidated Woodjam Copper Corp.
Contact:
Paul Way, Investor Relations
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: office@woodjamcopper.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. (“Woodjam Copper”) (TSX-V: WCC) was called for trading on the TSX-V on November 25, 2011. Woodjam Copper was created when Fjordland Exploration Inc. (“Fjordland”)(TSX-V: FEX) and Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB), 60%-40% partners in the Woodjam Joint Venture (“WJV”), jointly put their interests in the WJV into the new company. Shareholders of Fjordland and Cariboo Rose received shares in Woodjam Copper. Woodjam Copper currently owns a 100% interest in the Woodjam North and Woodjam South properties which are under option to Gold Fields who may earn up to a 70% interest in the properties.
About Gold Fields Limited
Gold Fields is one of the world’s largest unhedged producers of gold with attributable, annualized production of 3.5 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 77 million ounces and Mineral Resources of 225 million ounces. For more information visit the company’s website at www.goldfields.co.za
