Fjordland Provides Update on Renzy Nickel Copper Project in Quebec
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
TSX-V: FEX
FOR IMMEDIATE RELEASE NR2022-11
Fjordland Provides Update on Renzy Nickel Copper Project in Quebec
Vancouver, BC, October 24, 2022 ─ Fjordland Exploration Inc. (TSX-V: FEX) (the “Company”) is
providing an update on the Renzy Nickel Copper project near Maniwaki Quebec. In the spring of 2022,
Fjordland completed a 7 hole, 1,678m drill program on targets near the historic Renzy nickel mine. These
holes were designed to test previously undrilled targets identified by the 2021 VTEM airborne geophysical
survey. While greatly expanding the geological interpretation of the area, none of the holes intersected
potential economic mineralization. Only targets proximal to the Renzy mine access road were tested
during this program. A significant number of high potential targets remain untested. Company personnel
are currently on site conducting a soil sampling program to help add additional information to refine future
drill targets. Fjordland is planning for a future drill program for 2023.
James Tuer, Fjordland’s CEO commented, “This year’s drill program was designed to test for new areas
of mineralization outside of the existing Renzy mineralized footprint. We looked a t 4 different styles of
geophysical anomaly to test. Located about 3 kilometres south-west of the mine, the Sablier target tested
2 modeled conductor plates from the VTEM and ground EM surveys. Unmineralized sulfides were
intersected over a narrow section of drill core where the modeled plates were projected. The fourth hole
was designed to test a significant negative VTEM and associated magnetic high within the south lobe of
Renzy Lake. Drilled from the edge of the lake , this hole is interpreted to have been drilled under the
geophysical anomaly. The fifth hole was designed to test a strong conductor plate located about 200m
north of the Renzy footprint. No mineralization or evidence of a conductor was intersected suggesting the
hole missed the target. Interestingly, an ultramafic unit was inter sected at depth 175m downhole
suggesting there could be a deeper extension to the Renzy mineralized footprint. The final 2 holes near
Lac Machie tested portions of a long surface anomaly referred to as the “S-Conductor” located 6km south-
east of the Renzy footprint. The anomaly proved to be a wide zone of graphite mineralization measuring
between 34m and 55m wide and averaging 0.9% and 0.7% carbon, respectively (Table 2). “
Figure 1 - 2022 DDH with Mag
Figure 2 - 2022 DDH with TAUsf
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
Figure 1 highlights the magnetic signature associated with the Renzy terrain. The mine itself was situated
within a relatively un-magnetic portion of the terrain. Figure 2 displays the TAU parameter generated from
the VTEM survey. In general, it is a method used to rank the quality of the conductance sources. For
example, the historic Renzy mine site stands out as a discrete bright magenta. Fjordland’s initial drill
exploration strategy was to test a number of various geophysical anomalies to determine if any one
signature was successful in finding another Renzy-like deposit.
Going forward, Fjordland plans to target the VTEM anomalies accessible from the southern route to the
project. Three significant opportunities present themselves from the data: the Doolittle, Azof and Claw
anomalies as seen in Figures 4 and 5.
Hole_ID Easting Northing Depth Azimuth Dip
RZ-22-01 368121 5184555 206 136 -68
RZ-22-02 368438 5184508 58 315 -45
RZ-22-03 368434 5184508 140 315 -50
RZ-22-04 369535 5185354 309 146 -50
RZ-22-05 370609 5186314 216 211 -50
RZ-22-06 375983 5184238 379 196 -50
RZ-22-07 375638 5184117 370 206 -50
Table 1 - 2022 Drill Hole Parameters
In order to further refine the targets, the Company is undertaking a soil survey to determine if anomalous
soil signatures can be recorded on a hand -held XRF. Soil samples are being collected immediately
adjacent to and down ice from the Renzy mine and Lac Alba miner alized zones. Assuming a halo
signature can be identified, the survey will be expanded to other ultramafic outcrop and high priority
areas. Positive results would be significant since the mineralized Alba outcrop projects a very limited
geophysical signature.
A number of notable graphite projects are currently under exploration within 200km of the Renzy Project.
The most significant being Nouveau Monde Graphite ’s Matawinie graphite project with a 43-101
Measured and Indicated Resource of 130Mt grading 4.26 % carbon graphite (Nouveau Monde News
Release dated July 6, 2022). While not currently a focus for the Company, the initial drill results from RZ
22-06 and R Z 22-07 and the widespread nature of the g eophysical anomaly suggest th e potential f or
finding higher grade occurrences elsewhere within the system.
Note 1. Core Length. True thickness is unknown at this time.
Hole_ID From (m) To (m) Width (m)1 Cg (%)
RZ-22-06 142.0 176.5 34.5 0.90
Includes 145.0 150.0 5.0 1.62
Includes 158.5 163.0 4.5 1.49
RZ-22-07 40.5 95.7 55.2 0.69
Includes 43.0 50.5 7.5 1.29
Includes 82.5 93.0 10.5 1.36
Table 2 - Carbon (Graphite) Results
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
Figure 3 - 2022 Drill Hole Locations
Figure 4 – Renzy South Drill Targets with Mag
Figure 5 - Renzy South Drill Targets TAUsf
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
As a result of this program, Fjordland has now earned a 100% interest in the claims under the Quebec
Precious Metals Joint Venture. The titles have now been transferred into Fjordland’s name.
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.
Quality assurance/quality control
Fjordland's 2022 Renzy exploration program was managed by Equity Exploration Consultants Ltd. of
Vancouver, B.C. who provided qualified Quebec registered geoscience professionals. The drill contractor
was Cartwright Drilling Inc. of Goose Bay NL. Drill core was crushed and pulverized and analyzed for 33
elements using a four-acid dissolution followed by inductively coupled plasma mass spectrometry (ME -
MS61a) with a 30 -gram sample analyzed for platinum, palladium and gold by fire assay and ICP-AES
finish (PGM-ICP23). For graphite samples, graphitic C was determined by digesting sample in 50% HCl
to evolve carbonate as CO2. Residue is filtered, washed, dried and then roasted at 425C. The roasted
residue is analysed for carbon by oxidation, induction furnace and infrared spec troscopy (C-IR18).
Twenty samples were analyzed for lithium and rare earths utilizing a Na2O2 fusion-HCl digest on 0.2g
samples followed by ICP-MS and ICP -AES (ME-MS89L). Selected h alf-core NQ (47.6 mm) sawed
samples from hole RZ-22-01 through RZ-22-07 were sealed on site and shipped to ALS Minerals , Val
D’Or Quebec where they were on shipped to ALS’s preparation lab in Guadalajara, Mexico. Fire assay
and multielement analyses wer e completed at ALS Minerals analytical laboratory in North Vancouver.
Blanks, duplicates and commercially certified reference materials were inserted blind into the assay lab
sample preparation stream.
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.
Fjordland, owns a 100% interest in 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”
James Tuer, CEO
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
For further information:
James Tuer
Ph: 604-688-3415
www.fjordlandex.com
Forward-Looking Statements
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.
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