Cariboo Rose 12-Month News Release Summary 2005
January 1, 2006
December 14 Drilling at Woodjam Breaks Open the Megabuck Gold-Copper Zone
91.7 Metres Grading 1.00 g/t Gold and 0.22% Copper Encountered
Drilling at the Woodjam porphyry project in central British Columbia continues to expand the Megabuck gold-copper zone and confirms the potential for a very large copper system at the Takom zone, 2 kilometres south. Highlights from the recently completed program include diamond drill hole 05-43 from Megabuck that intersected 1.00 g/t gold and 0.22% copper over 91.7 metres (300 feet) at the bottom of the hole located on the east edge of the Megabuck grid. At the Takom zone, located 2 kilometres south, drill hole 05-48 returned 0.10 g/t gold and 0.12% copper over 82.6 metres and ended in mineralization.
Victor Tanaka, President of Fjordland commented, “The drill results from Megabuck confirm the gold dominant copper system’s strong likelihood for continued expansion laterally and to depth given that most of the holes ended in mineralization. At Takom, we demonstrated the potential for a copper-gold system that appears to be increasing in strength at depth.” Added Mr. Tanaka, “Based on our exploration success to date, we hope to mount a more aggressive drilling campaign in 2006 to realize the Woodjam property’s potential to host at least two bulk-mineble deposits similar to other profitable current and past producing porphyry deposits in the prolific Quesnel Trough.”
In November, the Company completed a six hole program at Woodjam totaling 2,018 metres of diamond drilling based on a recently completed geological interpretation. At the Megabuck zone, five holes totaling 1,703 metres were drilled on the east-side of the zone. Four holes spaced 50 metres apart successfully intersected the projected easterly extension of the mineral body, encountering long intervals of bulk-mineable style gold-copper mineralization; a fifth hole had to be abandoned before reaching the target horizon due to difficult ground conditions. The mineralized system at Megabuck remains open for expansion to depth, east, north and south.
Summary
Drill results to date from Woodjam continue to support the property’s potential to host large bulk-mineable gold-copper deposits. At the Megabuck zone, diamond drilling has intersected gold-copper over considerable widths from surface with grades similar to other porphyry gold-copper deposits in the Quesnel Trough mineral belt including Northgate Mineral’s (TSX: NGX) Kemess South and Kemess North deposits in northern British Columbia.
October 20 Amendment to Woodjam Option
Regulatory approval was received for an amendment to the Woodjam option agreement. Total consideration to be paid by Fjordland Exploration now totals 425,000 shares, $125,000 in cash and exploration work of $1,500,000 to be completed on or before October 31, 2006. This amendment replaced a $25,000 cash payment with a 125,000 share issue. Subsequently, an option payment of $25,000 and 125,000 shares was received from Fjordland.
September 6 The Hardrock Analyst reviews Spanish Mountain property
The Coffin brothers commented on the September 1 drill results to note that, “the most important aspect of the results today is that they confirm the much deeper potential than had been previously tested, so that a resource can be built quickly as longer step-outs are started to test the lateral extent of the system. The existing database of shallow drill holes can then be used to outline near surface ‘starter pit’ material and the combination, if current average grades persist to depth, of grade and tonnage can be used to build a substantial gold resource”.
August 25 Property Option - Cowtrail
Dajin Resources Corp. has optioned the company’s 4,600 hectare Cowtrail project in the Cariboo district of BC. To earn a 65 % interest in the project, Dajin must complete $1,000,000 of exploration work and make $110,000 in cash payments and issue 50,000 shares to Wildrose.
The Cowtrail project is a combination of the Cowtrail claims acquired by Wildrose to cover airborne geophysical anomalies similar to the signature of the Mount Polley Mine 20 kilometres to the northwest and the Rat and Jim claims staked by Amarc Resources in 2004. Amarc completed 53 kilometres of geophysical grid, which was then surveyed with IP. A number of well-defined chargeability anomalies were identified in 2004 in the 18 IP lines.
July 20 Diamond drilling to start at Carruthers Pass Massive Sulphide
Wildrose and Maxtech Ventures Inc. report expect to commence diamond drilling within a week at the Carruthers Pass Property located approximately 65 kilometres south of the Kemess Mine in British Columbia. Drilling will test several well defined airborne electromagnetic conductors that were identified in a survey flown in 2004. This survey consisted of 295 line kilometres flown utilizing a DIGHEM multi-coil, multi-frequency electromagnetic system supplemented with a high sensitivity magnetometer. The geophysical contractor, Fugro Airborne Surveys of Toronto, itemized fourteen target areas that contain discrete electromagnetic anomalies attributable to bedrock sources. Wildrose and Maxtech have now chosen the first four anomalies for drill testing.
June 14 Drilling Starts at Woodjam
Fjordland Exploration has started the first phase 2005 drill program at the Woodjam gold-copper porphyry project in British Columbia. A 21-hole reconnaissance reverse circulation (RC) drilling program totalling approximately 3,700 metres of drilling will test four zones for gold-copper mineralization. The majority of the drilling will be within the Takom Zone to test a strong, well defined two km by one km copper-in-soil anomaly that coincides with a larger induced polarization (IP) anomaly. This highly anomalous zone is defined by copper values ranging from 50 ppm to greater than 10,000 ppm.
Drilling is also planned at the Megabuck Zone to further extend the gold-copper system where drilling last year encountered significant gold-copper mineralization. The best results were from hole 04-32 which returned 378 metres (1,240 feet) grading 0.81 g/t gold and 0.12% copper, and hole 04-37 (drilled perpendicular to 04-32) that intersected 397 metres (1,304 feet) grading 0.82 g/t gold and 0.12% copper.
Reconnaissance RC drilling is also planned in two other zones located east and north of the Megabuck Zone to test for new areas of gold-copper mineralization. The east target is related to a 2 km by 1 km IP anomaly along strike from the 2003 drill discovery (hole 03-30) which intersected 15.4 metres grading 0.90% copper and 0.04g/t gold. The north target will test a prominent copper soil anomaly situated two kilometres north of the Megabuck Zone.
February 23 Two km-long Copper Soil Anomaly Identified at Woodjam. Drilling Planned to Expand Megabuck Gold-Copper System and Test New Targets
Potential for multiple zones of copper mineralization was demonstrated in a recently completed compilation of soil analytical data from the Woodjam gold-copper project. The most prominent copper anomaly is situated within the property’s Takom Zone where a strong, well-defined copper in-soil anomaly covers an extensive area, measuring approximately two kilometers by one kilometre. This highly anomalous zone carries copper ranging from 50 ppm to values greater than 10,000 ppm. “This soil data clearly illustrates potentially the most extensive zone of copper mineralization found to date at Woodjam,” said Fjordland Exploration president, Victor Tanaka. “What makes this geochem anomaly of even greater significance is that it coincides with a very large IP anomaly. Together, the two signatures represent a highly compelling drill target that we’re going to go after.”
The geochemical results are based on a total of 3,876 samples with the majority of the samples collected from the Takom Zone. Furthermore, soil data are currently being compiled from the northern area of the property where results indicate the existence of another significant copper anomaly.
In 2005, Fjordland intends to conduct an aggressive drilling campaign consisting of both diamond and reconnaissance reverse circulation drilling. At the Megabuck Zone, diamond drilling is planned to continue to expand the large gold-copper mineralized system that was defined in last year’s drilling. Reconnaissance reverse circulation (RC) drilling is planned north and east of the Megabuck Zone to test for new areas of mineralization related to a 2 km x 1 km induced polarization (IP) anomaly. A number of RC holes will also test the coincident copper geochem-IP anomalies in the Takom Zone.
January 5 Drilling Indicates Significant Gold-Copper System at Woodjam
Results have been received from the Phase II 2004 drill program at the Woodjam gold-copper porphyry project in central British Columbia. The program, completed in December 2004, consisted of six angled holes totalling 1,914 metres, which significantly expanded the extent of gold and copper mineralization on the Property’s Megabuck Zone. All drill holes encountered gold and copper over significant intersections. The main style of mineralization is chalcopyrite and pyrite as disseminations and associated with thin quartz veinlets and fractures in the form of a stockwork in andesitic and potassic altered quartz monzonite. Hole 04-37 intersected 397.5 metres (1,304 feet) grading 0.77 g/t gold and 0.13% copper; this hole is of importance since 04-37 was drilled at a right angle to discovery hole 04-32 which graded 0.81 g/t gold and 0.12% copper over 378 metres (1,240 feet). The Phase II program substantially enlarged the size of the mineralized zone at Megabuck and indicates the potential for further expansion in all directions and to depth.
Drill holes 04-37 to 04-42 were drilled on an east-west oriented grid, perpendicular to the direction of holes 04-32 to 04-36 which were completed in the Phase I 2004 program. The Phase II holes span an east-west distance of approximately 450 metres, whereas the Phase I holes spanned a north-south distance of 430 metres.
In summary, a large, irregular and complex mineralized system, parts of which extend over a roughly 400 metre by 400 metre area to a depth of 300 metres, has so far been identified. Although numerous faults complicate the geologic interpretation, the system remains open in all directions.