VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 10/19/11 — Fjordland Exploration Inc. (TSX VENTURE: FEX) reports that on October 21st, it plans to commence a 4-hole, 1000-m diamond drilling program on its road-accessible Red Lobster Property, located approximately 25 kilometres west of the historic Sullivan Mine in southeastern British Columbia. A drill location map may be viewed at . The principal targets for drilling are sedimentary exhalative zinc-lead-silver deposits, similar to those mined at Sullivan, where mining and milling of 150 million tonnes of mineralization, over a 100- year period, at average grades of 5.49% zinc, 5.98% lead and 2 ounces per ton silver, yielded in excess of $30 billion at today-s metal prices. The Sullivan orebody measured approximately 1500 m in length by 2000 m in width and 10 to 100 m in thickness.
The Red Lobster Property is one of seven properties under option from Kootenay Gold Corp., part of the Kimberley Gold Trend project. In addition, Fjordland owns 100% of eight other properties in the Iron Range Trend in the southeast. During 2011, Fjordland carried out additional soil sampling and prospecting surveys at Red Lobster to better define drill targets, indicated by previous work by Kootenay Gold. To date, three zones of potential SEDEX-style mineralization, hosted in Sullivan-age rocks, have been identified by Fjordland.
The Shado Zone, a structural-controlled zone greater than 50 m in width and trending north-northeasterly, contains a highly anomalous lead and zinc soil anomaly with values each in excess of 500 ppm; highs of 1750 ppm lead and 2760 ppm lead have been reported within an open-ended 1500 m by 500 m zone, in part covering known bedrock mineralization. A series of massive sulphide (galena, sphalerite, chalcopyrite and pyrite) veinlets, with maximum widths of 10-12 cm +/- irregular pods, occur with quartz and tourmaline at the Shado Showing. In 1978, Shado Mines shipped 3.28 tons of mineralized material from this showing to the Trail smelter. The shipment assayed 25.4% lead, 4.8% zinc, 0.13% copper, 13.25 ounces per ton silver and 0.01 ounces per ton gold. Magnetic anomalies identified by a previous operator, Cominco Ltd., coincident with or immediately west of the large geochemical anomaly were never drill tested. Three drill holes are planned to test this area.
The Cominco Zone appears to be a large fault-related zone, with the potential to host a large tonnage base-metals deposit. A soil anomaly with greater than 800 ppm lead and zinc values greater than 2000 ppm have been outlined over an open-ended zone measuring 1000 m by 1000 m, in part covering SEDEX-type bedrock mineralization consisting of quartz veinlets with arsenopyrite, galena and sphalerite hosted by the same sedimentary rocks that occur at Sullivan. In 1985, Cominco Ltd. outlined magnetic and electromagnetic anomalies, located approximately 500 m west of the current geochemical target. Cominco drilled one shallow (114 m) core hole in 1988, apparently testing the main geophysical anomaly, but never testing the geochemical anomaly. On the west side of the geochemical anomaly, a fault zone greater than 10 m in width is postulated. One drill hole is planned to test the geochemical anomaly.
The South Zone consists of a 700-m long by 600-m wide soil anomaly with lead and zinc values greater than 1000 ppm each and open to the south. Drill core from a drill hole in 1997 by Sedex Mining was lost when being moved by a helicopter. Visual logging indicated a 6-m interval containing lead and zinc mineralization. No work was completed on this zone during 2011, as helicopter access is required.
FJORDLAND EXPLORATION INC.
The Red Lobster Property appears to be along the northern extension of the north-south trending Iron Range Fault system, which measures in excess of 50 km in length and up to 150 m in width. The new Talon Zone Sedex and gold discovery reported by Eagle Plains in December, 2010 on its Iron Range Property, to the south of Red Lobster, is hosted in Sullivan-type rocks that are intensely altered and brecciated. Eagle Plains reported intervals of 7.1 m grading 8.13g/t Au, 5.91% Pb+Zn and 86.6g/t Ag, and 56.5 m grading 1.9g/t Au and 21.5g/t Ag in hole IR10-010. Details of Eagle Plains- 2011 work program have not yet been released.
Fjordland is a major mineral tenure holder in the combined Iron Range (8 properties totaling 60,047 ha) and Kimberley Gold Trend (7 properties totaling 21,222 ha) areas. The latter belt, with a 90-km northeasterly trend, is defined by placer gold in streams, high angle intersecting oblique slip faults, iron-oxide, iron-carbonate, sericite-quartz-pyrite-albite-tourmaline alteration assemblages with numerous gold-copper-lead-zinc occurrences and IOCG (iron oxide copper gold) affinities.
Upon completion of drilling at Red Lobster, the drill will be moved to the GCP Property, located 10 km southeast of the Sullivan mine. The main target there is a shear zone, sediment-hosted (Sullivan-age rocks) gold deposit, situated on the flank of a very large magnetic anomaly.
Tom Schroeter, President of Fjordland, commented: „We are very pleased and excited to commence drilling on our southeast BC properties that have several Sedex base metals and/or sediment-hosted gold targets.“
About Fjordland Exploration Inc.
Fjordland Exploration is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Of the 40 properties in Fjordland-s portfolio, the Woodjam North and Woodjam South properties (totaling 56,540 ha) are part of the Woodjam Joint Venture between Fjordland (60%) and Cariboo Rose Resources Ltd. (40%); both properties are under separate option agreements to Gold Fields Horsefly Exploration Corporation. Fjordland also has a 100% interest in 7 properties known as „Tak“ totaling 52,342 ha in the Woodjam area. Fjordland has a 100% interest in the 2,192 ha „Milligan“ project, adjoining Thompson Creek Metals Company Inc.-s Mt. Milligan copper-gold deposits on the west. The Tak-Milligan properties have been optioned to Capstone Mining Corp.; Capstone has vested into a 49% interest in the properties. Fjordland and Serengeti Resources Inc. are 37%/63% partners exploring 13 properties (QUEST JV Project) totaling 50,170 ha in the Quesnel terrane north of Woodjam for precious and base metals. Six of the QUEST properties (totaling 27,690 ha) have been optioned to Xstrata Copper; the QUEST JV owns 100% of the remaining 7 properties (totaling 22,480 ha). Fjordland has a 100% interest in 8 properties totaling 60,047 ha in the Iron Range area and has an option agreement on 7 properties totaling 21,222 ha with Kootenay Gold Inc. in southeastern BC. Fjordland has an option to acquire a 100% interest in the Dillard copper and gold property, north of Princeton, BC. Fjordland-s shares trade on the TSX Venture Exchange under the symbol „FEX“. For more information visit Fjordland-s website at .
T.G. Schroeter, P.Eng./P.Geo., who is a qualified person within the context of National Instrument 43- 101, has read and takes responsibility for this news release.
Tom Schroeter, President & CEO
Neither TSX Venture Exchange nor its Regulation Services providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Fjordland Exploration Inc. John Gomez Investor Relations 604.893.8365 604.669.8336 (FAX)
