Vancouver, British Columbia–(Newsfile Corp. – March 4, 2018) – Fjordland Exploration Inc. (“Fjordland“) (TSX-V: FEX) is pleased to report that their strategic funding partner High Power Exploration Inc. (“HPX”) has advised that they will fund $1.2 million of a proposed 2018 summer drill program on the South Voisey’s Bay nickel-copper-cobalt Project (“SVB Project”). This funding is considered to be the initial pre-paid consideration against an opportunity to sole fund up to $7.4 million to earn an assignment of a 65% interest in the SVB Project. Such assignment is conditional on Fjordland fulfilling its obligations pursuant to a letter of intent (“LOI”) with Commander Resources Ltd.(“Commander”) whereby Fjordland can earn a 100% interest in the SVB Project. Fjordland has to date earned a 35% interest. Please refer to news release dated August 28, 2017 for details of both the Fjordland/Commander Agreement and the Fjordland/HPX Agreement [Link: NR17-06].
The large 29,400 Ha SVB Project is located in central Labrador, 80 kilometres south of Vale’s Voisey’s Bay Nickel mine, and covers parts of the Pants Lake Gabbro Complex. Fjordland recently completed a 1469 metre drill program in which hole 17-6 returned a 3.9 metre interval of semi-massive to massive sulphide comprised of pyrrhotite, pentlandite and chalcopyrite grading 0.37% nickel, 0.27% copper and 0.1 % cobalt at the base of the Worm Gabbro within a sequence of troctolite. Borehole electro-magnetic (BHEM) data, collected by Crone Geophysics in November 2017, defined several extremely high conductivity targets particularly in holes 17-6 and 17-7 where a strong conductor was associated with the intersected sulphides, and an even stronger non-decaying off-hole conductor. Please refer to news release dated January 18, 2018 [Link: NR18-01] and the accompanying QA/QC statement.
Drilling was centred on modeled conductors derived from re-processed historical UTEM-3 surveys conducted in 2002 and 2014. Targeting incorporated recent geological concepts being successfully applied at the Voisey’s Bay Mine wherein structure plays an important ore control role and where massive sulphide accumulations may also occur in wall rock structures.
Drill targets for the 2018 program consist of numerous high quality untested conductors which were developed by a combination of the reprocessing of an immense data base of historic geophysical surveys aided by improved geological insights derived from the 2017 drilling.
Victor A Tanaka, P.Geo., is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this news release.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large scale potentially economic deposits located in Canada. For further information visit Fjordland’s website at www.fjordlandex.com
On behalf of the Board of Directors,
“Richard C. Atkinson”
Richard C. Atkinson, P.Eng.
President & CEO
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FJORDLAND EXPLORATION INC.
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