moin explorer - fans,
mit heutiger PR vermag dieser ´einstiger´ börsenliebling für neues interesse
bei den investoren zu sorgen - liest sich auch für MICH durchaus vielver-
sprechend........
Fjordland Signs LOI and Preliminary Agreement with Sumac Mines Ltd. on Dillard Copper-Gold Property, Southern British Columbia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 4, 2013) - Fjordland Exploration Inc. (TSX VENTURE:FEX) is pleased to announce the signing of a Letter of Intent (LOI) and Preliminary Agreement (PA) [the "Agreement"] with Sumac Mines Ltd. ("Sumac"), a subsidiary of Sumitomo Metal Mining Co. of Japan, on the Dillard porphyry copper-gold project ("the Project") in southern BC. The Agreement has received approval by Sumac's and Fjordland's boards of directors, and formal signing of the Agreement was carried out on April 3, 2013.
Under the terms of the Agreement, Sumac has the option to earn a 51% interest in the Project by making aggregate expenditures of CDN$3,500,000 over a three year period. Expenditures will include $800,000 in 2013, $1,000,000 in 2014, and $1,700,000 in 2015. Included in the aggregate expenditure is a cash payment to Fjordland of $193,000 upon signing, and the Agreement is subject to TSX Venture Exchange approval. Upon Sumac completing the required earn-in expenditures and exercising their option, a joint venture between Sumac (51%) and Fjordland (49%) for the Project will be formed. The Agreement includes a 20-kilometre (km) Area of Interest ("AOI") around the Dillard Property.
As operator, Fjordland has commenced planning for the 2013 work program, with formal budget and work plan approvals expected within a few months.
Tom Schroeter, President and CEO of Fjordland, states: "Sumac is an exceptional partner for the Dillard project, with its long-term presence in Vancouver. We are extremely pleased to have the opportunity to be working together on the Dillard Property and also under a strategic alliance within the 20-km AOI. They bring expertise with financial resources and technical skills to join our team in the next step to advance the potential of the Dillard project. We look forward to launching a significant drilling program this year."...........
http://www.fjordlandex.com/news/nr13-03.pdf
RT......cad 0,03
