BRITISH COLUMBIA — Gold Fields Horsefly Exploration, a member of South Africa’s Gold Fields Ltd., has committed an additional $3 million to exploration of the Woodjam North copper-gold property 45 km east of Williams Lake. Gold Fields has an option to earn a 70% interest in the project by spending $19 million over the next seven years. The property is owned by a joint venture of Fjordland Exploration and Cariboo Rose Resources, both headquartered in Vancouver.
To date, Gold Fields has completed regional mapping, rock, silt and soil geochemical sampling over selected areas, geological mapping and prospecting, and a review of previous drill core from the Megabuck, Takom and Deerhorn zones. A 75-line km induced polarization survey and a 5,000-line km low-level airborne magnetic and radiometric survey are underway. Drilling is to resume in October.
Detailed information and technical reports on the Woodjam project are available at www.CaribooRose.com.