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Commander Options South Voisey's Bay Nickel Project, Labrador to Fjordland Exploration
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2017) - Commander Resources Ltd. ( TSX ...
About this update from Fjordland Exploration Inc.
[{"type":"text","content":"Commander Options South Voisey's Bay Nickel Project, Labrador to Fjordland ExplorationVancouver, British Columbia--(Newsfile Corp. - June 5, 2017) - Commander Resources Ltd. (TSXV: CMD) (\"Commander\") is pleased to announce that it has entered into a Letter Of Intent with Fjordland Exploration Inc. (TSXV: FEX) (\"Fjordland\") allowing Fjordland to acquire up to a 100% interest in Commander's South Voisey's Bay project (the \"SVB Property\") located in Labrador, Canada, some 80 kilometres south of Vale's Voisey's Bay Nickel mine. Fjordland currently owns a 15% interest in the property earned during an earlier agreement from 2014.The SVB property is located in central Labrador and covers parts of the Pants Lake Gabbro Complex. The Pants Lake Complex contains host rocks with alteration and nickel mineralization styles consistent with high nickel prospectivity. In November 2014 Commander and Fjordland completed a UTEM and ground magnetic survey over a portion of the claims, referred to as the Sandy Target, where historical work has indicated the presence of a strong conductor. Results of this recent survey outlined a strong horizontal conductor and 4 strong sub-vertical conductors near the Worm Gabbro, a possible feeder dyke to the larger gabbro bodies. (see News Release dated March 2, 2015).Over the past several months Commander and Fjordland have completed a comprehensive compilation and targeting exercise utilising the extensive historical data collected by Commander and have refined two high priority targets, a deep basinal target called Sarah focusing on thicker portions of the Pants lake Intrusives and the near surface Sandy conductors in a feeder-vent setting. The property has recently been expanded to 7,644 hectares to also cover the South Gabbro Complex where historical reconnaissance drilling by Falconbridge had encountered narrow but high-grade nickel values as summarized below:SVB-02-138: 0.77m @ 1.37% Ni, 0.64% Cu, 0.16% CoSVB-02-140: 0.8 m @ 1.57% Ni, 0.6% Cu, 0.09% Co(Falconbridge Internal company reports. Results have not been verified by current qualified persons)SVB Property Letter AgreementUnder the terms of the Letter Agreement, and subject to requisite regulatory approvals, Fjordland may earn up to 100% in the SVB Property by paying Commander aggregate cash payments of $290,000 completing $8.0 million in explor...