Vancouver, BC, March 8, 2022 ─ Fjordland Exploration Inc. (TSX-V: FEX) (“Fjordland” or the “Company”) is pleased to announce that the Renzy drill program near Maniwaki Quebec is underway. The Company plans to drill a minimum of 2,500 meters. Equity Exploration Consultants has been contracted to manage the program and Cartwright Drill Inc is supplying the drill rig and personnel. The $1 million budget is fully funded by the Company.
James Tuer, Fjordland’s CEO commented, “The 2021 heliborne VTEM geophysical survey generated a number of drill targets near the Renzy mine and further to the south in an area where no prior surveys or drilling has occurred. Each area is accessed via a separate road and we’ve chosen to open the northern route to the Renzy area to initiate the drill program. These targets are directly relatable to the old mine which hosts a 43-101 historic resource. Once the southern route is open in the late spring, the plan is to shift to those southern targets.”
“Recent nickel demand has resulted in the nickel price more than doubling in the past week. This exemplifies nickel’s limited global primary supply and the necessity to find more resources to satisfy the burgeoning demand for batteries in electric vehicles, let alone the growing demand for stainless steel. In the past several months, Fjordland has increased the project to over 500 square kilometres in size by staking additional claims in this highly prospective terrain.”
Robert Cameron, P. Geo., a technical advisor to the Company, is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release. For further technical information please visit Fjordland’s website at www.fjordlandex.com
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large-scale economic metal deposits in Canada.
In collaboration with Ivanhoe Electric Inc. and Commander Resources Ltd., Fjordland is exploring the SVB “Pants Lake Intrusive” target which is in a geologic setting analogous to the nearby nickel-cobalt-copper Voisey’s Bay deposit. Fjordland has earned a 75% interest in the project.
In addition to the SVB project, Fjordland, as operator, has an agreement to acquire 100% of the Renzy nickel-project located near Maniwaki, Quebec. The project encompasses the former Renzy Mine where, during the period from 1969 to 1972, 716,000 short tons were mined with average grades of 0.70% nickel and 0.72% copper. Fjordland has staked additional claims to increase the size of the project to 530 sq. km.
As well, Fjordland has 2 copper-gold properties in the Quesnel Trough of central British Columbia, The West Milligan copper-gold project is a joint venture with Northwest Copper Corp. located within 4 km of Centerra’s Mount Milligan copper-gold mine. The 103 sq. km. Witch copper-gold project is located another 35 km west of the Milligan mine.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, CEO
For further information:
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.