New Gold-Copper Zone Discovered at the Woodjam North Property
Vancouver, BC, August 7, 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 (JSE, NYSE, NASDAQ, Dubai: GFI), has released assay data for 35 drill holes (totaling 10,451.91 m) completed to date on the Woodjam North Property (location maps for the drilling can be viewed at www.woodjamcopper.com). Highlights of the drilling results include:
- A new discovery, named the Three Firs Zone, has been intersected in 3 core holes (MAG12-03, 05 and 06) within the western extension of the Takom Zone IP chargeability anomaly, approximately 2 km southwest of the Takom Zone.
- In the Deerhorn Zone drilling continues to confirm the high grade character and expanding size of the zone. Higher copper grades in the northeastern portion of the 700 m long zone are indicated by the intercepts in hole DH12-41.
Three Firs Zone Discovery
Seven holes (2,139.39 m) were drilled in the Three Firs target area, of which three holes, listed below, returned significant results. Holes MAG12-1 and 2 are peripheral to the zone, while holes 4 and 4A were lost prior to intersecting the zone and were replaced with hole 5 on the same site. The results indicate an area of approximately 200m by 200m, open in three directions. This is a new discovery on the Woodjam property and indicates the tremendous discovery potential on the property’s other extensive untested geophysical targets. These are all angle holes at minus 60 and 65 degrees.
| Hole ID |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Cu Equiv. (%) |
Au Equiv. (g/t) |
| MAG12-03 |
161.50 |
375.00 |
213.50 |
0.20 |
0.20 |
0.33 |
0.52 |
| Including |
208.00 |
291.00 |
83.00 |
0.26 |
0.35 |
0.49 |
0.76 |
| Including |
216.00 |
241.00 |
25.00 |
0.37 |
0.59 |
0.75 |
1.17 |
|
|
|
|
|
|
|
|
|
| MAG12-05 |
164.00 |
281.00 |
117.00 |
0.21 |
0.15 |
0.31 |
0.48 |
|
|
|
|
|
|
|
|
|
| MAG12-06 |
107.90 |
458.72* |
350.82 |
0.15 |
0.11 |
0.22 |
0.34 |
| Including |
150.00 |
300.00 |
150.00 |
0.23 |
0.21 |
0.36 |
0.56 |
| Including |
219.00 |
247.00 |
28.00 |
0.35 |
0.43 |
0.62 |
0.97 |
Deerhorn Zone
Five drill holes (1,774.86 m) were completed in and around the Deerhorn Zone in an effort to improve the understanding of the geometry of the zone and to expand its size. Hole DH12-38 was drilled to test the periphery of the zone and did not intersect significant mineralization. It is hoped that these holes will increase the resource potential at Deerhorn.
| Hole ID |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Cu Equiv. (%) |
Au Equiv. (g/t) |
| DH12-37 |
48.77 |
401.12* |
352.35 |
0.06 |
0.30 |
0.25 |
0.39 |
| Including |
166.00 |
311.00 |
145.00 |
0.13 |
0.71 |
0.58 |
0.91 |
| Including |
214.00 |
307.00 |
93.00 |
0.14 |
1.02 |
0.79 |
1.23 |
|
|
|
|
|
|
|
|
|
| DH12-39 |
39.72 |
248.11* |
208.39 |
0.14 |
0.32 |
0.34 |
0.54 |
| Including |
53.00 |
160.27 |
107.27 |
0.22 |
0.52 |
0.55 |
0.86 |
| Including |
81.00 |
131.73 |
50.73 |
0.32 |
0.93 |
0.92 |
1.42 |
|
|
|
|
|
|
|
|
|
| DH12-40 |
220.00 |
263.15 |
43.15 |
0.13 |
0.26 |
0.29 |
0.45 |
|
320.25 |
347.00 |
26.75 |
0.27 |
0.23 |
0.42 |
0.65 |
|
| DH12-41 |
64.01 |
443.18* |
379.17 |
0.32 |
0.12 |
0.40 |
0.62 |
| Including |
147.00 |
399.00 |
252.00 |
0.40 |
0.16 |
0.50 |
0.78 |
| Including |
409.00 |
443.18 |
34.18 |
0.37 |
0.02 |
0.39 |
0.60 |
Notes: Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb Cu, US$1100/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.
Regional Exploration Drilling
Twenty holes (5,867.10 m) were completed on a variety of geophysical and geochemical anomalies, predominantly in the area between the Megabuck Zone and the Deerhorn Zone. A portion of this area has been designated the Megabuck East area. One hole (236.52 m) was drilled 1.3 km to the north of the Deerhorn Zone in the Corner Lake target area. Several holes intersected short intervals of interesting mineralization, similar to the known zones, and indicate the broad exploration potential of the area. Hole MB12-05, 200 m east of the Megabuck Zone, intersected 7.47 m of 0.13 g/t gold and 1.28% copper from 308.00 m. Hole ME12-07, approximately 700 m east of Megabuck, intersected 12.45 m grading 0.92% copper and 0.14 g/t gold from 169.00 m.
In the Takom Zone, Gold Fields completed two holes (670.56 m) to test its geometry and in hole TK12-30 intersected 17.00 m grading 0.24% copper and 0.29 g/t gold from 92.00 m.
On the Woodjam South Property drilling is being directed at expanding the Southeast Zone where mineralization remains open in several directions and is ongoing. Results of this drilling will be released when they are received from Gold Fields. Woodjam South hosts the Southeast Zone where an initial pit constrained NI 43-101 compliant, inferred resource of 146.5 million tonnes grading 0.33% copper (with accessory gold) was announced in a news release dated March 1, 2012.
Gold Fields has vested a 51% interest in both the Woodjam North and South properties. Further, Gold Fields has given notice to Woodjam Copper that it will exercise its right to earn a further 19% interest in each of the Woodjam North and Woodjam South properties. To earn this additional interest Gold Fields will be required to spend $12 million and US$8 million over the next four years on the Woodjam North and Woodjam South properties respectively. In addition, Gold Fields is required to complete a comprehensive feasibility study on the Woodjam South property.
Glen L. Garratt, P.Geo., a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
Glen L. 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 49% interest in the Woodjam North and Woodjam South properties which are under option to Gold Fields who own a 51% interest and may earn a further 19% to total a 70% interest in the properties. In 2012, Woodjam Copper published an initial Southeast Zone NI 43-101 compliant inferred resource of 146.5 million tons grading 0.33% copper (pit constrained).
About Gold Fields Limited
Gold Fields is one of the world’s largest unhedged producers of gold with attributable, annual 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 80.6 million ounces and Mineral Resources of 217 million ounces. For more information visit the company’s website at www.goldfields.co.za.
