Gold Fields Expands the Exploration Potential of the Southeast Zone at the Woodjam Copper-Gold Project
10.12.2013 | The Newswire
Vancouver, Dec. 10, 2013 – Consolidated Woodjam Copper Corp. (“Woodjam Copper”) (TSX-V: WCC) reports that Gold Fields Horsefly Exploration Corporation (“Gold Fields”), a subsidiary of Gold Fields Limited (JSE, NYSE, NASDAQ, Dubai: GFI), has completed the fall drilling program which totaled 1,473.91 m in 6 holes. These holes are all located in an area proximal to the Southeast Zone on claims recently optioned from a third party (See News Release Dated May 15, 2013) that have been included in the Woodjam South option. The Southeast Zone is one of five known zones of porphyry copper-gold mineralization on the property, which includes the Woodjam North and South areas.The Southeast Zone lies within an IP Chargeability anomaly measuring approximately 1.5 km by 2.0 km and which is open to the east onto the newly optioned adjoining claims. The fall drilling program completed 6 widely spaced holes on possible projections of this IP anomaly. Significantly, hole MT13-04, collared approximately 1.3 km northeast from the eastern edge of the Southeast Zone, encountered bedrock at 15.24 m and intersected the same intrusive phases that comprise the Southeast Zone. It displayed strong potassic alteration as well as significant lengths of mineralization as outlined in the following table:
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|Hole ID | From (m) | To (m) | Interval (m) | Cu (%) |
|-------------------------------------------------------|
|MT-13-04 | 75.0 | 196.0 | 121.0 | 0.11 |
|-------------------------------------------------------|
|including | 149.0 | 196.0 | 47.0 | 0.14 |
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Hole MT-13-04 opens up a large area of exploration potential for possibly extending the Southeast Zone to the northeast or to discover a separate zone. For the hole location, please click here: Woodjam Megaton Drilling 2013
The grades in hole MT-13-04 are similar to those encountered in holes on the perimeter of the Southeast Zone. The undrilled area between this hole and the Southeast Zone is large enough to host a similar sized zone. Woodjam Copper Corp. is looking forward to future exploration in this exciting new area. The other 5 holes in the program intersected various intervals of anomalous copper.
The 60,000 ha Woodjam property is located in the Cariboo region of south-central British Columbia, approximately 50 km east of the Williams Lake. Five zones of copper-gold mineralization have so far been discovered at Woodjam with NI 43-101 inferred resources reported by Gold Fields for three of them (see news release dated October 28, 2013).
Gold Fields vested a 51% interest in both the Woodjam North and South properties in January 2012. At its discretion, Gold Fields can earn an additional 19% interest in both projects through expenditures of CAD$12 million and US$8 million over four years on the Woodjam North and Woodjam South properties, respectively. These expenditure requirements will be reduced by the 2012 and 2013 expenditures. In addition, Gold Fields would be required to complete a comprehensive feasibility study on the Woodjam South property.
G. L. Garratt, P.Geo., a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
G. L. Garratt, P.Geo.
VP, Director, Consolidated Woodjam Copper Corp.
Contact:
Consolidated Woodjam Copper Corp.
Paul Way, Investor Relations
Phone: (604) 681-7913, Toll Free: 888-656-6611;
email: office@woodjamcopper.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. (“Woodjam Copper”) (TSX-V: WCC) trades on the TSX-V exchange and currently owns a 49% interest in the Woodjam North and Woodjam South properties which are under option to Gold Fields who own a 51% interest and may earn a further 19% to total a 70% interest in the properties. In 2012, Woodjam Copper published an initial Southeast Zone NI 43-101 compliant inferred resource of 146.5 million tons grading 0.33% copper (pit constrained). This resource was updated as of May 15, 2013 to 227.5 Mt grading 0.31% copper.
About Gold Fields Limited
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick’s Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable gold-equivalent annual production of approximately 2.2 million ounces, Mineral Reserves of approximately 60 million ounces and Mineral Resources of approximately 158 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
