Gold Fields commences 2013 exploration program at the Woodjam Copper-Gold Project.
18 April 2013 - 3:00PM
Access Wire
Vancouver, BC, April 18, 2013 - Consolidated Woodjam Copper
Corp. ("Woodjam Copper") (TSX-V: WCC) is pleased to report that
Gold Fields Horsefly Exploration Corporation ("Gold Fields") a
subsidiary of Gold Fields Limited (JSE, NYSE, NASDAQ, Dubai: GFI),
has started the 2013 field program at the Woodjam Copper-Gold
Project located in the Cariboo region of British Columbia, east of
the city of Williams Lake.
In 2012 Gold Fields vested a 51% interest in both the Woodjam
North and South properties and gave notice to Woodjam Copper of its
decision to exercise a right to earn a further 19% interest in both
these properties. To earn this additional interest Gold Fields will
be required to spend $12 million and US$8 million over the next
four years on the Woodjam North and Woodjam South properties
respectively. These spending requirements will be reduced by the
2012 expenditures which have not yet been accounted for. In
addition, Gold Fields is required to complete a comprehensive
feasibility study on the Woodjam South property. Woodjam Copper
will retain a 30% interest in both Woodjam North and Woodjam
South.
Work completed in 2012 on the Woodjam South and Woodjam North
properties included 114 diamond drill holes totaling 36,623 metres.
Gold Fields continues to compile the results of this and previous
work to determine how best to move forward and has indicated that
this review will be available within the next two months.
The current program will consist of approximately 4,000 metres
of diamond drilling within the Woodjam South project area and is
expected to take approximately two months to complete.
Glen L. Garratt, P.Geo., a qualified person for the purposes of
National Instrument 43-101, has read and taken responsibility for
this news release.
Glen L. Garratt, P.Geo.
Director
Consolidated Woodjam Copper Corp.
Contact:
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).
About Gold Fields Limited
Gold Fields is a large unhedged producer of gold with
attributable, annual production of 2 million gold ounces from six
operating mines in Australia, Ghana, Peru and South Africa. Gold
Fields also has an extensive and diverse global growth pipeline
with four major projects at resource development and feasibility
level. Gold Fields has total attributable gold Mineral Reserves of
54.9 million ounces and Mineral Resources of 125.5 million ounces.
For more information visit the company's website at
www.goldfields.co.za.
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