Fjordland Announces Updates on Renzy and North Thompson Nickel Projects
Vancouver, June 17, 2021 - Fjordland Exploration Inc. (TSXV: FEX) ("Fjordland" or the "Company") is pleased to announce that it has initiated a ground field EM program on the Renzy Nickel-Copper project located near Maniwaki Quebec. A ground-based EM survey is being conducted on 4 zones as a follow up to the VTEM survey initiated in the spring. While the VTEM survey was suspended until the middle of August, it did generate a number of discrete EM anomalies immediately adjacent to the historic mine site and, more importantly, up to 10 km away. Management and Company geologists will be on site next week to help ground truth and collect samples from the area.
Fjordland also announces that it has entered into an agreement with CanAlaska Uranium Ltd. to terminate the Hunter/Strong Property Option Agreement ("Option Agreement) relating to the North Thompson Nickel Project (NTNP). The Option Agreement was executed on April 28, 2020 on the basis that a winter drill program could be initiated in early 2021 (NR2020-5 dated December 2, 2020). Despite applying for a drill permit in January 2020, CanAlaska has still not received permission and there does not appear to be any clarity as to when a permit might be received. Unfortunately, these permitting delays with Manitoba's Ministry of Agriculture and Resource Development have, in the opinion of Fjordland's Board of Directors, resulted in this particular project not meeting its corporate objective of participating as a partner in "drill ready" projects. As a result, Fjordland and CanAlaska have mutually agreed to unwind the Option Agreement. Fjordland has agreed to give up any interest in the project upon the return to treasury of 1,000,000 Fjordland common shares from CanAlaska which is in process.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large-scale economic metal deposits located in Canada.
Fjordland, as operator, has an agreement to acquire 100% of the Renzy nickel copper project located near Maniwaki Quebec from Quebec Precious Metals. 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 235 sq. km.
In collaboration with Ivanhoe Electric Inc. (formerly High Power Exploration Inc.) and Commander Resources Ltd., Fjordland is exploring the South Voisey's Bay "Pants Lake Intrusive" target which is in a geologic setting analogous to the nearby nickel-cobalt-copper Voisey's Bay deposit.
Fjordland is currently reviewing its West Milligan copper gold project located within 4 km of Centerra's Mount Milligan copper gold mine in central British Columbia. The project is a joint venture with Northwest Copper Corp.
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
ON BEHALF OF THE BOARD OF DIRECTORS
"James Tuer"
James Tuer, CEO
For further information:
James Tuer
Ph: 604-688-3415
tuer@fjordlandex.com
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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